DIRS.INFO The most relevant business & tech news

☆ Sony and Apollo offer $26 billion for Paramount: report
▼ + stars: | 2024-05-02 | by ( Paul Squire | Hayley Cuccinello | ) www.businessinsider.com time to read: +2 min

Sony and Apollo Global Management are reportedly bidding big for Paramount. AdvertisementSony and the private equity firm teamed up for an all-cash offer of $26 billion for Paramount Global, The Wall Street Journal reported on Thursday. Sony and Apollo's offer was nonbinding, according to the JournalApollo's bid comes after Paramount announced its CEO Bob Bakish was stepping down Monday. Apollo previously bid $11 billion for just Paramount's movie studio, the Wall Street Journal reported in March. Apollo partner Aaron Sobel co-signed the offer letter with Sony CEO Tony Vinciquerra, people familiar with the situation told the Journal.

Persons: Bob Bakish, They've, Hayley Cuccinello, Aaron Sobel, Tony Vinciquerra, Sobel, Lee Solomon, Shari Redstone hasn't Organizations: Sony, Apollo Global Management, Paramount, Paramount Global, Street, Skydance Media, RedBird Capital Partners, KKR, Apollo, Wall Street, Legendary Entertainment, Concord Music Group

☆ The billionaire's calendar
▼ + stars: | 2023-11-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

What the rest of us consider small talk at work, Gen Zers have rebranded as "corporate flirting." In today's big story, we're unpacking all the far-flung places and high-end events billionaires visit and attend throughout the year. But by early 2024, there will likely be more Gen Zers working full-time than baby boomers. It commemorates when the "Guinness World Records" book became the best-selling book of all time in 2004. It commemorates when the "Guinness World Records" book became the best-selling book of all time in 2004.

Persons: —, Gen Zers, we're, it's, Madeline Berg, Madeline, there's, Laszlo Balogh, Tom Cooper, I'm, Hayley Cuccinello, Hayley, Marianne Ayala, Lelanie Foster, Ruzwana Bashir, Peek —, Bashir —, Tesla, Matt Harrison Clough, Miami —, Karol G, Edgar Barrera, Shakira, Starr Douglas, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Monaco, Sun, Getty, Business, Guinness, Records, Walmart Locations: Davos, London, America, Houston, Miami, Seville, Spain, Macy's, New York City, San Diego, New York

☆ Why tiny homes could be a big deal
▼ + stars: | 2023-08-06 | by ( Matt Turner | ) www.businessinsider.com time to read: +6 min

It's easy to look at these tiny homes as undersized gimmicks, but there are real use cases. Others are leaning on tiny homes to house homeless veterans. Denver changed its zoning laws to make ADU construction easier, allowing two-story units in some parts of the city. Tiny homes won't fix that, but innovation in zoning and construction, taken with recent data pointing to a surge in residential construction, offer reasons for hope. Why tiny homes could be a big dealThis first appeared in the Insider Today newsletter.

Persons: Joyce Higashi, Katie Sandoval, Clark, Maggie, John Randolph, crumbles Karl Maasdam, Lawrence D, Thornton, Rebecca Zisser, Francesca Gino, Gino, she's, Read, Morgan Stanley, Arantza Pena Popo, Who's, James Gorman, Ted Pick, Morgan Stanley copresident, Insider's Hayley Cuccinello, Pick, Andy Saperstein, Ted Pick Big, Tyler Le, Brad Setser, Tess Turner, Stack, coders, — Jasmine Hyman, Doc Martens, Matt Turner, Hallam Bullock, Lisa Ryan Organizations: Service, Harvard, Big Pharma Locations: Wall, Silicon, California, San Jose, New Hampshire, Denver, Austin's, New York City

☆ Wells Fargo is pushing for quantity over quality in its private bank
▼ + stars: | 2023-05-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Which brings us to a fantastic story about Wells Fargo's decision to reorganize how it serves its ultra-rich clients. And while many understood some changes were necessary, nearly everyone agreed the bank didn't go about it the right way. Read more about Wells Fargo's chaotic reorganization of its private bank. It's the latest move in what has been an active 12 months for the bank's tech division. The accounting firm had signed off on financial statements from Silicon Valley Bank, Signature Bank, and First Republic, the Financial Times reports.

☆ Morgan Stanley's wealth business just keeps on winning
▼ + stars: | 2023-04-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

It's good to be Morgan Stanley these days. Amid a difficult market for Wall Street banks — thanks in large part to non-existent deal flow — Morgan Stanley's massive wealth business has been paying off big time. But Morgan Stanley's success isn't coming in a vacuum. -Meanwhile, UBS, arguably Morgan Stanley's biggest competitor in the space, was begrudgingly saddled with Credit Suisse's carcass. With wealth advisors, a key part of hiring includes offering "bonuses" that are actually loans.

☆ Big banks to the rescue
▼ + stars: | 2023-03-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Goldman Sachs' decision to charge employees for coffee might not be that outrageous after all! The largest US banks — headlined by Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo — just pledged a total of $30 billion in deposits to First Republic Bank. As detailed in a release announcing the news, the 11 banks, which also included Goldman Sachs and Morgan Stanley, believe the move "demonstrates their overall commitment to helping banks serve their customers and communities. I can't imagine the big banks looking to pull the rug out from First Republic four months from now, but this money was a deposit, not a donation. Read more about how big banks came to the rescue of First Republic with $30 billion in deposits.

☆ Goldman Sachs pitching wealth clients on investing in Stripe shows how Wall Street drums up exclusive deals for its richest customers
▼ + stars: | 2023-02-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

To that point, Insider's Hayley Cuccinello has a story on how Goldman Sachs offered its richest clients the opportunity to invest in the buzzy fintech Stripe. If I can take the startup client my investment bankers are working with and leverage my wealth clients to help them fundraise, that's a win-win. Even better if the cofounders and employees of said startup turn around and come back to me as wealth clients once I help them get rich. More broadly, this is also just another example of how banks are always finding ways to cater to their rich clients. Click here to read more about how Wall Street is leveraging clients in its investment bank for its wealth business*(OK, I couldn't help myself.

☆ What's next for Goldman following deep cuts and organization overhaul
▼ + stars: | 2023-01-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

On tap we've got stories on JPMorgan's Jamie Dimon fielding questions about the bank's acquisition strategy, another bank plans to make cuts, and fast food options that won't completely crush your diet. On Wednesday the bank conducted a majority of its cuts, reducing its global workforce by about 6.5%. A few days later, on Friday, the bank reported losses of more than $3 billion since 2020 in the unit that houses the bank's consumer lending business. Meanwhile, some of the recently axed Goldman employees have been left in the dark on what's next for them, according to reporting from Hayley and Emmalyse Brownstein. Here are some fast food options that won't completely wreck your diet.

☆ Layoffs are hitting Wall Street. Here's what you can do to land on your feet if you lost your gig.
▼ + stars: | 2023-01-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

But first, dark days on Wall Street. Two of the most high-profile firms on Wall Street — Goldman Sachs and BlackRock — made job cuts that impacted thousands of workers. All of that is to say, after a good run of things on Wall Street, the tide is starting to turn. I called a Wall Street recruiter to pick their brain on advice they'd give to those who just lost their jobs. Wall Street did not have a good showing on a list of the best places to work.

☆ A PE firm that's built its brand on high-profile sports deals is broadening its scope
▼ + stars: | 2023-01-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But one firm that's already well established in the space is looking to quietly diversify itself beyond the pitch. With seemingly everyone interested in sports these days, Cardinale is smart to want to hedge his firm. The crypto exchange also agreed to pay $50 million to improve how it vets customers and transactions. Mala Gaonkar's hedge fund just made its long-awaited debut. SurgoCap Partners entered the fray this week with $1.8 billion in capital, making it the biggest launch of a women-led hedge fund, Bloomberg reports.

☆ Our best stories on financial tech in 2022
▼ + stars: | 2022-12-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Today, we're going to recap all the great stories we've done this year on financial tech, whether it's up-and-coming startups or the projects at the biggest banks and investment firms. Wall Street and sports have a long history together. How top Wall Street firms are testing out cutting-edge tech. Shaw, here are 10 of the most innovative tech projects at top Wall Street firms. And we also identified the top Big Tech executives who could get poached by Wall Street firms looking to do more in the cloud.

☆ Inside ex-Goldman Sachs banker Gregg Lemkau's big bet on himself
▼ + stars: | 2022-10-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Gregg Lemkau (center) led MSD Partners, the investment firm financed by Michael Dell (right) to a merger with merchant bank BDT & Company, founded by Byron Trott (left). Gregg Lemkau seemingly had it all, which is why many were surprised at his decision to end his 28-year tenure at Goldman Sachs to run MSD Partners, Michael Dell's investment firm, in late 2020. Nearly two years later, Lemkau has silenced any doubters by orchestrating a merger between MSD and merchant bank BDT & Company. Lemkau will serve as co-CEO with BDT founder and CEO Byron Trott of the new firm, which will target rich families and founders. Click here to read more about Gregg Lemkau's ascension at Goldman Sachs and his decision to leave.

☆ How the wealthy use life insurance to escape estate tax and why the tactic is now attracting scrutiny
▼ + stars: | 2022-10-12 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +5 min

I'm Jeffrey Cane, stepping out from behind the 10 Things on Wall Street newsletter curtain to help catch you up on all things financial today. But first: Could I interest you in some life insurance? Yes, life insurance is one answer, but it's life insurance with a twist. This little-known tax tool, which may be coming under increasing scrutiny, is called private placement life insurance, or PPLI. It is effectively a life insurance policy that is owned by an offshore trust.

Search resuls for: "Insider's Hayley Cuccinello"

13 mentions found