BI Prime Markets 2020-03-12T16:39:00Z

Coronavirus shock is pushing highly indebted 'zombie' companies towards financial ruin — and a risky $1 trillion market is already showing the damage a recession would do

A coronavirus-driven recession could trigger a "corporate subprime financial crisis," according to one expert.
BI Prime Finance 2020-03-12T15:06:00Z
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Business is booming for certain types of hedge funds as coronavirus rocks markets. These 6 have returned as much as 14% with bets focused on volatility and macro trends.

Funds that have done well in the choppy markets of the last month include former Goldman Sachs partner Don Casturo's Quantix Commodities.
Markets 2020-03-12T18:48:00Z
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Dow slips 2,000 points as Trump coronavirus response disappoints, Fed funding boost fades

Major US stock indexes pared losses after the Fed announced a stimulative bond-purchase plan, then extended them once again.
Finance 2020-03-13T05:00:00Z

These are the top 5 UK financial institutions ranked by the mobile banking features consumers value most

Business Insider Intelligence's first annual UK Mobile Banking Competitive Edge Study shows 72% of all UK respondents use mobile banking.
Finance 2020-03-13T04:01:00Z

FINTECH MEGADEALS: How FIS-Worldpay, Fiserv-First Data, and Global Payments-TSYS will reshape the payments landscape

Business Insider Intelligence explores key drivers fueling consolidation in the payments space and analyzes three massive payments acquisitions.
BI Prime Tech 2020-03-12T23:40:00Z

'Eye-popping': A standout number in Amazon's financial report hints at growing momentum with the world's largest companies

Amazon's performance obligations jumped 54% to a record $29.8 billion in its most recent quarter — but its growth could slow due to the coronavirus.
Finance 2020-03-12T23:01:00Z

TECH COMPANIES IN FINANCIAL SERVICES: How Apple, Amazon, and Google are taking financial services by storm

Business Insider Intelligence examines how Apple, Google, and Amazon are gaining a larger foothold in the global financial services industry.
Finance 2020-03-12T22:02:00Z

These 5 factors are transforming the payments experience for both consumers and businesses

Business Insider Intelligence has created an infographic showcasing compelling statistics from its recent payments and commerce research.
Enterprise 2020-03-12T20:48:50Z

Slack stock falls as much as 20% after it reported earnings that show slowing growth and weaker guidance than expected

All eyes are on Slack, amid the coronavirus pandemic — but its slowing growth seems to be making investors nervous.
Markets 2020-03-12T20:09:30Z

The US stock market has now wiped out the entire $11.5 trillion of value it gained since Trump's 2016 election victory

The Trump administration initially downplayed the virus, with top economic adviser Larry Kudlow calling the outbreak "contained" on February 25.
Markets 2020-03-12T20:08:51Z

Dow plummets most since 1987 as Trump's stimulus plan fails to materialize

The Federal Reserve said it would inject $1.5 trillion of capital into markets this week, but that wasn't enough to save stocks.
BI Prime Finance 2020-03-12T19:38:00Z

Real estate giant RE/MAX is fighting off a recruiting slump. Here are the tech tools it's betting will attract and keep more agents.

RE/MAX's acquisitions of booj and First show the brokerage investing in machine-learning powered tech that values relationships over automation.
Markets 2020-03-12T19:25:03Z

From Boeing to Wynn Resorts, companies are maxing out credit lines as they race to stockpile cash amid coronavirus slowdown

Companies are turning to bank loans for cash as coronavirus panic leads to havoc in the corporate bond market.
Markets 2020-03-12T19:10:48Z

Trump's $800 billion payroll tax cut plan would dwarf Obama's stimulus package from the height of the financial crisis

At the heart of Trump's plan is a suspension of payroll taxes that would cost over $800 billion, according to estimates.
Finance 2020-03-12T19:00:00Z

THE GLOBAL NEOBANKS REPORT: How 26 upstarts are winning customers and pivoting from hyper-growth to profitability in a $27 billion market

This report explores how the neobank market has grown rapidly, and what's in store as the industry pivots from hyper-growth to sustainability.
BI Prime Finance 2020-03-12T18:43:00Z

JPMorgan warns debt investors they could soon have to take possession of distressed assets as coronavirus rocks markets

David Lebovitz, JPMorgan's global market strategist, said "you have a lot of first-time players" who haven't been lending during a economic downturn.
Markets 2020-03-12T18:35:12Z

Senate cancels planned recess amid scramble to contain economic fallout of coronavirus

The move marked a sign of growing urgency in Washington to address the effects of the outbreak on the economy.
Markets 2020-03-12T18:21:35Z

Morgan Stanley says it's time to start buying stocks amid the market carnage

The market rout has brought stocks to levels that could bring swift Fed action, part of the "bottoming process" in US markets, Morgan Stanley said.
Markets 2020-03-12T18:11:50Z

Fed announces $1.5 trillion in capital injections to combat coronavirus fallout and 'highly unusual disruptions'

The Federal Reserve said it would add $500 billion to money markets on Thursday and inject $1 trillion every Friday through the end of March.
BI Prime Finance 2020-03-12T18:11:22Z

SigFig raised $120 million on the promise of reinventing investing, but hasn't announced a big partnership in years. Here's how it went from deals with UBS and Wells Fargo to struggling to compete.

In interviews, a dozen sources describe the Silicon Valley startup's rise and recent struggles to compete in the crowded wealth-tech space.
Finance 2020-03-12T18:03:00Z

From travel bans to disaster-recovery sites, here's everything we know about how Wall Street firms are handling the spread of coronavirus

Wall Street firms are grappling with the spread of coronavirus by enforcing travel restrictions and moving some workers to backup sites.
BI Prime Finance 2020-03-12T17:39:38Z
Markets 2020-03-12T17:09:02Z

'Stupid beyond even my wildest fantasies': Krugman, Summers, Lagarde ridicule Trump's coronavirus response

"I doubt very much that diseases have passports and are aware of borders," Lagarde said about new restrictions on European travel to the US.
Finance 2020-03-12T16:58:00Z

Read the memo Jamie Dimon's lieutenants just sent announcing his return home from the hospital following emergency heart surgery

The JPMorgan Chase CEO is out of the hospital and back at home, according to an internal memo seen by Business Insider.
Markets 2020-03-12T16:55:19Z

Trump says markets are going to be 'just fine' as stocks absorb historic coronavirus-led plunge

Stocks are falling deeper into bear market territory as investors panic over the impact of coronavirus on the global economy.
Markets 2020-03-12T16:11:34Z

The New York Stock Exchange is preparing to close its trading floor as the coronavirus sweeps through New York

Closing the trading floor would shift all trades to a backup system and postpone all IPOs until the exchange fully reopens, according to an NYSE memo.
BI Prime Markets 2020-03-12T15:57:55Z

Famed economist David Rosenberg called the housing bubble. Now he tells us why the oil-price war will be more damaging than the coronavirus — and outlines a scenario where stocks plunge another 13%.

The market's plunge may be only half over, and the pain from a coronavirus/oil-shock recession might last for years, economist David Rosenberg said.
BI Prime Markets 2020-03-12T15:38:06Z

Goldman Sachs studied every bear market in stocks since 1835 — and concluded that 3 red flags make this coronavirus-driven one unlike any other in history

The stock market's decline may persist because of these differences, Goldman's chief global equity strategist said.
Markets 2020-03-12T15:19:26Z

The stock market's fear gauge spikes to its highest since the peak of the financial crisis

The VIX jumped amid a sharp sell-off in stocks after President Donald Trump's coronavirus comments and travel restrictions failed to calm investors.
Markets 2020-03-12T14:51:00Z

Warren Buffett compared fear and greed to 'super-contagious diseases' and 'epidemics.' Investors are quoting him to keep calm as coronavirus ravages markets

Buffett said to "be fearful when others are greedy and greedy when others are fearful." Google searches and tweets about the quote are spiking.
Markets 2020-03-12T14:44:25Z

Treasury liquidity is evaporating as traders need it most — endangering a $50 trillion debt market

Treasury yields serve as a benchmark for fixed-income assets around the globe, leading a liquidity crisis to cloud massive amounts of market value.
Markets 2020-03-12T14:28:06Z

The global oil price war is pushing highly indebted US shale companies toward default, an event that could trigger 'financial contagion'

"The risk is that financial losses spark a credit crunch elsewhere," wrote Joseph Lupton of JPMorgan.
BI Prime Finance 2020-03-12T14:24:00Z

SoftBank's Vision Fund 2 pumped $100 million into Behavox — and the startup's CEO says that's twice what he was looking for

Behavox CEO Erkin Adylov told Business Insider that investors at SoftBank's Vision Fund 2 encouraged him to take more money than he initially planned.
Transportation 2020-03-12T14:22:32Z

Automaker stocks are enduring their worst period since the financial crisis and the market selloff due to coronavirus fears isn't helping. Here's how car manufacturers are responding.

Ford and General Motors have instituted restrictions on travel domestically and internationally, as has the United Auto Workers.
Markets 2020-03-12T14:04:00Z

Warren Buffett's Berkshire Hathaway loses more than $3 billion as coronavirus hammers airline stocks

The famed investor's conglomerate counts Delta, Southwest, United, and American among its 25 largest holdings.
Markets 2020-03-12T13:45:00Z

'Can we panic now?': Stocks, oil, bitcoin, and Treasury yields plunge after Trump's coronavirus plan failed to calm investors

"The biggest source of disappointment on Wall Street was the lack of specific ways to support people and small- and medium-sized enterprises."
Markets 2020-03-12T13:29:53Z

European Central Bank announces fresh stimulus in response to coronavirus outbreak

The ECB announced a temporary asset purchase of 120 billion euros until the end of this year to tackle "heightened uncertainty."
Markets 2020-03-12T13:19:10Z

10 things you need to know before the opening bell

This is what traders are talking about.
Finance 2020-03-12T13:14:00Z

Credit Sesame is moving into banking services

Credit Sesame has launched banking services, and there are two reasons why this move will help boost the fintech's business.
Markets 2020-03-12T13:11:06Z

The Dow plunged into a bear market in just 20 days — the fastest 20% drop in history

Past bearish declines took 255 sessions on average, Michael Batnick, director of research at Ritholtz Wealth Management, wrote in a Monday blog post.
Markets 2020-03-12T12:50:18Z

Bitcoin falls past $6,000, leading a cryptocurrency rout as global markets slip on coronavirus concerns

"Investors are clearly not looking at Bitcoin as a safe haven asset," said Matthew Dibb, co-founder of the institutional-grade platform Stack.
Markets 2020-03-12T12:21:46Z

A Robinhood trader tells us how he raked in a 2,400% return in 5 days as the coronavirus and oil hammered markets

After turning $5,000 into $123,000, the amateur investor said he might buy "a $100 bottle of scotch and a nice pair of cowboy boots."
BI Prime Markets 2020-03-12T12:07:00Z

'It's worse than a mortgage': A leading personal-finance expert shares her simple 3-step formula for eliminating mountains of credit-card debt

"In 2008, everybody said 'I will never go in debt again' — and credit-card debt has climbed past those levels," Terry Savage said.
Finance 2020-03-12T12:00:00Z

Bitcoin 101: Your essential guide to cryptocurrency

Bitcoin is everywhere. The cryptocurrency is seemingly in the news every day as investors and businesses try to understand the future of this digital finance.
Markets 2020-03-12T11:41:08Z

Oil prices 'crater' more than 6% after Trump bans travel from Europe over coronavirus pandemic

"Crude prices continued to crater on Thursday morning after US President Donald Trump announced a 30-day ban on US citizens travelling to Europe," one analyst said.
Finance 2020-03-12T11:04:00Z

DIGITAL IDENTITY AND THE FUTURE OF BANKING: How digital identity can slash the costs of onboarding and regulatory compliance by up to 70% for banks

This report defines digital ID, discusses the technologies used to deliver the solution, and lays out why banks could be a leader in digital identity.
Finance 2020-03-12T10:01:00Z

Insurtech Research Report: The trends & technologies allowing insurance startups to compete

In this report we look at the drivers behind the increasing number of insurtech companies and how they are impacting others in the insurance industry.
Finance 2020-03-12T05:05:00Z

BLOCKCHAIN IN BANKING: An inside look at four banks' early blockchain successes and failures

This report explores early blockchain successes and failures at four major banks, and lessons for the rest of the financial services industry.
Finance 2020-03-12T02:01:00Z

THE PAYMENTS FORECAST BOOK 2019: 22 forecasts of the global payments industry's most impactful trends — and what's driving them

Business Insider Intelligence forecasts growth in the major sectors of the payments ecosystem worldwide, with a particular look at the US market.
BI Prime Finance 2020-03-11T23:57:08Z

Intercontinental Exchange is closing its London office, home to its European futures business, for the rest of the week after an employee tested positive for coronavirus

An ICE employee that tested positive for coronavirus was at the office since March 6. It's one of the first signs of a key market-structure player impacted by coronavirus.
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