An investor looks at an electronic screen showing stock information at a brokerage house in NanjingThomson Reuters
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There’s a lot going on today, so I’m going to jump straight to the headlines:
- A former hedge fund manager at Visium has been charged with securities fraud, and turned himself in.
- These are the texts a Goldman Sachs banker allegedly sent to a prostitute he was trying to get for a client.
- China just took a left hook to its self-esteem.
- Jim Chanos has a new thing that should ‘scare the heck out of everybody.’
- Wall Street banks are desperately trying to make themselves better places to work.
- The most important things you need to know ahead of the Federal Reserve’s big announcement.
We’ve also published a series of articles from our “The Price of Profits” project with Marketplace radio. You can see all of our ongoing work on this topic here. Here are the headlines:
- There’s something worrying going on in corporate America.
- This is how shareholders got to be first in line for profits.
- Here’s the story behind the death of American conglomerates.
- The earliest companies weren’t interested in their shareholders – or making money.
- Why are you going to business school anyway?
Finally, this brilliant map renames each US state with a country generating the same GDP.
Here’s the best of the rest in Wall Street headlines:
There’s a ‘storm brewing’ in the US economy–It could get ugly in the US economy before long.
Big investors are taking their money out of hedge funds – here’s where they’re putting it instead–Investors are fleeing hedge funds and moving their money to a handful of private equity funds.
Sweden made a history-changing $85 billion mistake–A little more than a hundred years ago Norway and Sweden were a single state. Now Norway is one of the world’s richest countries, and Swedes are left scratching their heads.
The technology that is out to disrupt Wall Street has been overhyped–Don’t believe everything you hear about the benefits of blockchain technology.
Marc Andreessen hasn’t seen this many tech acquisitions in the pipeline in years– Microsoft-LinkedIn could be the tip of the iceberg.
Deutsche Bank lays out a radical vision for the future of Amazon’s shipping operations– How much of its supply chain will Amazon control in the future?
The iPhone 7 will be a snoozer – but just wait for the iPhone 8 ‘super cycle’–The evidence has been piling up that the iPhone 7 will be a snoozer and only show modest improvements over the 6s.
Here are the winners so far from the biggest video game conference of the year–The Electronic Entertainment Expo (E3), one of the biggest video game conferences of the year, has already seen plenty of big announcements.
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