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☆ Here's why JPMorgan's top brass are doubtful that a major M&A comeback is on the horizon
▼ + stars: | 2024-04-12 | by ( Reed Alexander | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWall Street has been hopeful that M&A activity will return this year as rates fall. On Friday, the bank reported $41.9 billion in revenue for the quarter, up 9% year-over-year — a figure that surpassed analysts' expectations. The retreat from dealmaking produced a nine-year low in terms of the number of individual M&A transactions in the quarter, LSEG reported. Dimon's warningsThe comments from JPMorgan's top brass come as Dimon issues warnings about the prospect of a gloomier economic environment.

Persons: —, Jamie Dimon, Jeremy Barnum, Barnum, Biden, that's, Goldman Sachs, Stephan Feldgoise, LSEG, EY, Dimon, Reed Alexander Organizations: Service, JPMorgan, Business, London Stock Exchange Group Locations: megamergers, dealmaking, Asia, Pacific

☆ Rising temperatures and floods leave cities with hefty bills. Startups are working to help them adapt to climate risks.
▼ + stars: | 2024-03-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +10 min

All of this has given rise to climate adaptation, a sector that aims to mitigate against and adapt to the risks associated with climate change. For James Brennan and Navjit Sagoo, two of the scientists behind climate risk analytics startup Climate X, it is imperative that adaption efforts go hand in hand with those working to curb rising temperatures. Indeed, Bank of America analysts predicted the climate adaptation industry would be worth $2 trillion a year by 2026. Climate X made its calculations based on the UN's Intergovernmental Panel on Climate Change's RCP8.5 scenario, which has been deemed to be a "very high" baseline for emissions. Mike Segar/ReutersAll hands on deckThe need for climate adaptation is clear but often overlooked until an extreme weather event occurs, according to Landesman and Chaudhury.

Persons: —, James Brennan, Navjit Sagoo, Abrar Chaudhury, Autarc, Bill Gates, Tucker Landesman, Helge Jørgensen, Mike Segar, Brennan, Sagoo Organizations: Service, Business, Bank of America, Climate, X, Deloitte, University of Oxford's, Business School, New York Times, New, London, Fabian Society, Tech, Breakthrough Energy Ventures, Goldman Sachs, Management, Air, International Institute for Environment, Development Locations: London, New York City, New York, California, Autarc , Massachusetts, Medellin, Colombia, Europe, PitchBook, Mamaroneck, Westchester County , New York, U.S

☆ Agtech valuations were crushed in 2023. But food security concerns will keep it on the agenda.
▼ + stars: | 2024-03-05 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

The Agtech Unicorn Index, which tracks venture-backed startups in the sector worth over $1 billion, recorded a 20% decline in 2023, according to the Morningstar Unicorn Market Monitor Q4 2023 update. Advertisement"There are more software companies that have sprouted over the past decade, but it traditionally requires fairly technical knowledge about plants and biology." London’s vertical farming unicorn InFarm also struggled and shuttered in Europe . Indeed, PitchBook’s Frederick anticipates agtech will outperform the broader VC ecosystem in the near term due to issues around food security, per PitchBook’s Agtech Q4 2023 report. More broadly, the number of companies hitting unicorn status was at its lowest level since 2017, with 81 new unicorns entering the Morningstar PitchBook Global Unicorn Index in 2023.

Persons: —, Alex Frederick, Frederick, Po Bronson, Bronson, PitchBook’s Frederick, agtech, ” Frederick Organizations: Service, Business, Morningstar, US, Farmers Business Network Locations: cybersecurity, Europe, Ukraine, India, California, Spain

☆ The list of airports where you can skip the TSA PreCheck line and use a facial recognition scan instead of your ID is growing
▼ + stars: | 2024-02-28 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

United Airlines is testing a "Touchless ID" plan at O'Hare which doesn't require a physical ID. AdvertisementYou won't need a boarding pass or an ID to get through security if you're using TSA PreCheck at some airports. AdvertisementHowever, passengers will still have their physical ID checked afterward at O'Hare because it's testing the feature for security checkpoints and bag dropoff, per TPG. Advertisement"We plan to add TSA PreCheck Touchless ID to more bag drop counters, security checkpoints, and boarding gates in the future," it adds. Its passengers at Atlanta, Detroit, LAX, LaGuardia, and JFK can check bags and go through security without needing to show a physical ID.

Persons: —, Guy Organizations: TSA, United Airlines, Delta, American Airlines, Service, Transportation Security Agency, Chicago O'Hare, Los Angeles International, O'Hare, TPG, LAX, Delta Air Lines, LaGuardia, JFK, Washington Reagan Airport Locations: O'Hare, Atlanta, Detroit, LAX

☆ Trump Sees Diminishing Fundraising Returns From Combative Court Appearances
▼ + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +4 min

On Dec. 7, when Trump appeared in a Manhattan court for a civil fraud trial, his main fundraising group reported taking in around $200,000 in online contributions. The recent slowdown suggests Trump is getting diminishing returns from his legal problems as he closes in on his Republican Party's nomination to face Democratic incumbent Joe Biden in the Nov. 5 election. The Trump campaign did not immediately respond to a request for comment on the apparent fundraising slowdown. SLOWDOWNThe smaller daily hauls around Trump's legal problems in late 2023 were part of a broader slowdown in his campaign's fundraising. Trump's legal problems are also showing increasing signs of being a direct drag on the finances of his election effort.

Persons: Jason Lange, Alexandra Ulmer, Andrew Goudsward WASHINGTON, Donald Trump, Trump's, WinRed, Trump, Arthur Engoron, Joe Biden, Jason Cabel Roe, Cabel Roe, Hillary Clinton, Nikki Haley, Trump’s, Christopher Kise, Andrew Goudsward, Scott Malone, Deepa Babington Organizations: Federal, Republican, Democratic, Trump, PAC, South, New Locations: Georgia, Manhattan, WinRed, South Carolina, New York, Washington, San Francisco

☆ Small cities to watch in 2024: Why these 4 underrated locales are drawing movers from big cities
▼ + stars: | 2024-01-22 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Some movers are giving up on Los Angeles and Dallas for smaller cities in Texas and Nevada. The cherry on top is the relatively affordable real estate compared to other cities. That lump sum of cash got some movers in the door, but the booming job market and relatively affordable housing are keeping them there. New Braunfels, Texas Regan Bender/ShutterstockPeople flock to the Lone Star state, but not always to the usual destinations. New Braunfels, Texas, attracts more movers than Austin and Dallas today with its relatively affordable homes and dearth of job opportunities.

Persons: —, Vegas , Nevada Wendy Lee Las, Richard Katz, Katz, Andrew Arevalo, Adam Outlaw, Outlaw, New Braunfels , Texas Regan Bender, Anna Lagos, we'd, Jean Tanner Organizations: Service, Austin, . Topeka , Kansas Getty, Topeka, Lone Star, Adobe, Meta, Microsoft Locations: Los Angeles, Dallas, Texas, Nevada, New York, Austin, Las Vegas, New Braunfels , Texas, Topeka , Kansas, Provo , Utah, Vegas , Nevada, Sin, Virginia, Vegas, . Topeka , Kansas, Topeka, Boston, California, San Antonio, New Braunfels, Lagos, Denver, Salt Lake City, Provo

☆ Invite-only Lapse wants to rival Instagram. It's about to raise a lot of cash to do just that.
▼ + stars: | 2024-01-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Lapse, a buzzy social media app that wants to rival Instagram, is set to raise fresh funding, Business Insider understands. Based on the number of shares allocated, the company has raised approximately £24.48 million, $31 million. One London-based source familiar with the deal said Lapse was set to secure around $30 million. A look at the Lapse app. It aims to help satisfy the demand for more authenticity on social media.

Persons: Instagram, Jacob Andreou, Ben, Dan Silvertown, Plural's Ian Hogarth, Dmitry Tokarev Organizations: Business, Meta, Greylock Ventures, Facebook, Companies, Octopus Ventures, Redbus Ventures Locations: London

An aerial view of the San Francisco city skyline in California, U.S., October 28, 2021. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsSAN FRANCISCO, Nov 28 (Reuters) - Videogame software provider Unity Software (U.N) will eliminate 265 jobs or 3.8% of its global workforce and end an agreement with a digital video effects company founded by the "Lord of the Rings" director as part of a "reset," the company said on Tuesday. Tuesday's announcement includes termination of the professional services piece of an agreement Unity struck with movie director Peter Jackson's visual effects company Weta FX in 2021 after Unity purchased the technology and engineering division of Weta FX. As a result, 265 employees whose jobs are related to the agreement will be laid off, the company said. Reporting by Anna Tong in San Francisco Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Barria, John Riccitiello, Jim Whitehurst, Roelof Botha, Peter Jackson's, Whitehurst, Anna Tong, Matthew Lewis Organizations: REUTERS, FRANCISCO, Unity Software, San, Unity, Sequoia Capital, FX, Weta, Reuters, Thomson Locations: San Francisco, California, U.S, Berlin, Singapore, Bellevue , Washington

☆ Alphabet wants to invest in British fintech bank Monzo before it goes public
▼ + stars: | 2023-11-22 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Monzo, a British fintech bank, is in talks with Alphabet's private investment arm Capital G to raise what is primed to be its last funding round before a public listing. The bank touts around 8.5 million customers in the UK and is best known for its bright coral pink bank cards. Fintech funding in Europe dropped 70% to $5 billion from $17.1 billion in the first half of 2023, compared with 2022, according to Finch Capital. The prospective funding round is set to be the fintech's last private raise before a mooted public debut that would likely take place in late 2024 or 2025. The British bank reported £116.3 million in losses last year despite more than doubling its revenue.

Persons: Monzo, Catalyst, Monzo's, Cash, Conor Walsh, Anil Organizations: Business, Sky News, Abu Dhabi Growth Fund, Silicon, VC, fintech, Finch, London, Starling Bank Locations: British, London, Abu Dhabi, New York, Europe, Monzo, Starling

☆ US commercial property loan activity to drop off in Q4 after Q3 pickup -DBRS
▼ + stars: | 2023-11-20 | by ( Matt Tracy | ) www.reuters.com time to read: +2 min

The third quarter saw roughly $3 billion in new collateralized loan obligations (CLOs) backed by CRE loans, according to a Friday report by DBRS. This marks a significant turn from the second quarter, which saw less than $1 billion in CRE CLO issuance. Office-backed loans represented almost half of all CRE delinquencies in the third quarter, according to DBRS. An overall 3.27% delinquency rate for CRE CLOs in the third quarter was roughly in line with the second quarter rate, according to DBRS. There were $2.67 billion in delinquent CRE CLO loans as of September, a $20 million increase from the second quarter.

Persons: Marco Bello, DBRS Morningstar, CLOs, Loans, CRE CLOs, CRE, Matt Tracy, David Gregorio Our Organizations: U.S, DBRS, CRE, Thomson Locations: Miami, Biscayne Bay, Brickell, Downtown, Miami , Florida, U.S, DBRS, delinquencies

☆ Roll up, roll up: Private equity funds target buyouts and consolidation at Europe's cash-strapped tech startups
▼ + stars: | 2023-11-14 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +5 min

More importantly buyers – in the form of private equity firms – are starting to line up. "Growth is clearly harder so we'll see a lot of M&A because PE funds are trying to grow their business and so are looking at early-stage tech businesses." This increased interest means private equity is set to play an enlarged role in Europe's startup ecosystem. Rollups, where private equity firms buy up a bunch of small businesses in an industry and consolidate them into a larger company, are also on the acquisition hunt. Crucially, private equity funds are unlikely to approach deals for companies that are not yet profitable, or unlikely to become so in the short term.

Persons: Alex Prokofjev, Claire Trachet, It's, Pedro Barros Organizations: Business, Venture, Bain, KKR, PE, Target Locations: London, Paris

☆ Saudi Arabia's stake in Lucid dropped in value more than $50 billion as the EV startup struggles, report says
▼ + stars: | 2023-11-11 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +2 min

Saudi Arabia's sovereign fund has a 60% stake in Lucid Motors, an EV startup. Months after the company went public, the stake was valued at more than $55B, per Bloomberg. That value dropped about 90% to $5.4 billion as Lucid reports millions in net loss. The steep drop in the value of Saudi's stake coincides with Lucid's latest quarterly earnings. In 2018, PIF invested $1.3 billion in Lucid, and it seems the Saudis have more considerable expectations for the EV company.

Persons: —, Chris Bryant, Nora Naughton, Sherry House, PIF, Lucid Organizations: Lucid Motors, Bloomberg, Service, Public Investment Fund, EV Locations: Saudi, Saudi Arabia

☆ X has been bleeding nearly $70 million per day in value since Elon Musk took over
▼ + stars: | 2023-10-31 | by ( Grace Kay | Kali Hays | ) www.businessinsider.com time to read: +4 min

X's valuation has dropped on average nearly $70 million per day during Elon Musk's first year of ownership. AdvertisementAdvertisementX has shed nearly $70 million in value per day since Elon Musk took over the social media company. On Monday, Insider confirmed that employees of the company formerly known as Twitter were given stock grants that showed the social media company was worth about $19 billion. "How do you make a small fortune in social media?" Despite the backlash, X CEO Linda Yaccarino and Musk have continued to strike a postive note.

Persons: Elon Musk's, —, Elon Musk, Fortune, Musk, Linda Yaccarino, Yaccarino, Insider's Lara O'Reilly, Twitter's, Parag Agrawal, He's Organizations: Service, Elon, Twitter

☆ Zahmire Lopez, 8-year-old with dance moves and rap skills, was killed in his New Jersey home
▼ + stars: | 2023-10-17 | by ( Eric Levenson | ) edition.cnn.com time to read: +6 min

Delivered in an excited pre-pubescent voice, this untitled rap song is a lasting memory of the joy and bravado 8-year-old Zahmire Lopez always brought to the world. Zahmire, or “Zah,” was shot and killed at his home in Newark, New Jersey, in May. Some say when time goes by it gets easier but it doesn’t get easier.”Leontine Niangara described her son Zahmire Lopez as her "shadow." Read other profiles of children who have died from gunfireWyleek Shaw, 27, was also killed in the shooting, according to the Essex County Prosecutor’s Office. It’s just flag football,’” Niangara said.

Persons: Lil Zah, Zahmire Lopez, ”, Leontine Niangara, “, Zahmire, ” Niangara, “ It’s, Niangara, Wyleek Shaw, Tajion Simmons, Everett Rand, Rand, Shaw, ‘, “ Zahmire, ” She’s Organizations: CNN, won’t, Firearms, New, New Jersey Attorney General’s, Police, Prosecutor’s, Fords, NJ, General’s, University Hospital Locations: Newark , New Jersey, America, Niangara’s Newark, New Jersey, Essex, Fords , New Jersey, Rand, East Rutherford , New Jersey, Newark

☆ Take Five: Doves versus hawks
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +5 min

Key UK jobs data and a G20 summit, marked by the absence of China's Xi Jinping, are also in focus. The doves urge caution; the most hawkish hawks say a pause is not a done deal, but haven't explicitly called for a hike either. Wednesday's August U.S. inflation data, followed by producer price and retail sales numbers a day later, are the next test. Next up are consumer and factory price data this weekend, with industrial output and retail sales out on the 15th. The unemployment rate has been edging above last year's 48-year low, indicating some softening in the jobs market, while basic earnings are rising at record pace.

Persons: Andrew Kelly, China's Xi, Ira Iosebashvili, Kevin Buckland, Li Gu, Amanda Cooper, Ahmad Ghaddar, haven't, Goldman Sachs, Xi Jinping, He's, BoE Governor Andrew Bailey, BoE, RUSH Brent, Dhara, Philippa Fletcher Organizations: Financial, of, REUTERS, European Central Bank, United States, Key, Yoruk Bahceli, ECB, Reuters, Huawei, SMIC, West, Bank of England, Thomson Locations: of Manhattan , New York City, U.S, Yoruk, Amsterdam, New York, Tokyo, Shanghai, London, China, United States, Washington, Beijing, India, Britain, Saudi Arabia, Russia, Iran, Venezuela, Libya

You can sell items on Facebook Marketplace via the desktop website or mobile app. You need a Facebook account to access Facebook Marketplace. Note: Facebook Marketplace is available to users 18 and older in most countries, including the US and Canada. For a full list of supported countries, see the footer at the bottom of the official Facebook Marketplace page. AdvertisementAdvertisementHow to sell on Facebook MarketplaceYou can use Facebook Marketplace on either desktop or mobile.

Persons: Devon Delfino Organizations: Facebook, PayPal Locations: Canada, Devon

☆ Exclusive: Walmart cuts pharmacist pay, hours while workload piles up
▼ + stars: | 2023-08-29 | by ( Siddharth Cavale | ) www.reuters.com time to read: +5 min

Walmart also has agreed to pay $3.1 billion as its share of an opioid-related legal settlement, which is adding to its legal costs this year. For example, a pharmacist could go from an 80-hour, two-week pay period to one lasting 64 or 72 hours, said the source, who attended the meeting and spoke on condition of anonymity. On average, the Bentonville, Arkansas-based retail chain pays its pharmacists more than $140,000 a year, excluding bonuses and incentives, according to Walmart. Earlier this year, Walmart scaled back the operating hours of its pharmacies by two hours at more than 4,500 U.S. stores, amid a shortage of pharmacists and pharmacy technicians that began during the pandemic. SHORTAGE OF PHARMACY TECHNICIANSThe underlying reason that chain drug stores like Walmart are scaling back pharmacists' hours is a shortage of pharmacy technicians, Hogue said.

Persons: haven't, Davey Lavergne, Marilee McInnis, Michael Hogue, Hogue, Siddharth Cavale, Jonathan Oatis, Andy Sullivan Organizations: Walmart, Reuters, Dow Jones Industrial, Health, Wellness, American Pharmacists Association, Pharmacy Workforce Center, Pharmacy, Thomson Locations: Arkansas , Tennessee , Missouri , Alabama, Georgia, Florida, Louisiana, Bentonville , Arkansas, Washington, New York

☆ Walmart cuts pharmacist pay, hours while workload piles up
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: +2 min

Walmart is asking some of its 16,000 pharmacists across the U.S. to voluntarily take pay cuts and reduce their working hours in a bid to reduce costs, a person familiar with the matter told Reuters. Walmart also agreed in late 2022 to pay $3.1 billion as its share of an opioid-related legal settlement, which is adding to its legal costs this year. For example, a pharmacist could go from an 80-hour, two-week pay period to one lasting 64 or 72 hours, the source said. On average, the Bentonville, Arkansas-based retail chain pays its pharmacists more than $140,000 a year, excluding bonuses and incentives, according to Walmart. Earlier this year, Walmart scaled back the hours it operates its pharmacies by two hours at more than 4,500 U.S. stores, amid a shortage of pharmacists and pharmacy technicians that began during the pandemic.

Persons: haven't, Davey Lavergne, Marilee McInnis, Michael Hogue Organizations: Walmart, Reuters, Health, Wellness, American Pharmacists Association Locations: Arkansas , Tennessee , Missouri , Alabama, Georgia, Florida, Louisiana, Bentonville , Arkansas, Washington

☆ The internet just went on a wild quest that could result in floating trains and cheap EVs
▼ + stars: | 2023-08-11 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +8 min

The internet went wild over claims scientists discovered a room-temperature superconductor. Here's how a room-temperature superconductor could change everything:Revolutionize the medical industryMRI machines currently depend on liquid helium coolant to keep cool enough to operate. A room-temperature superconductor would go a step further in helping create these fields under normal conditions. With room-temperature superconductors, EV makers might be able to take a closer step towards delivering cheap battery-run cars. This is where room-temperature superconductors could one day step in.

Persons: It's, gloriously, Dr Niladri Banerjee, Banerjee, Michael Fuhrer, Massoud Pedram, Eugene Hoshiko, they'd, Jason Laurea, Lawrence, Robert Knopes, Getty Images Elon, Tesla Organizations: Imperial College London, Theory, School of Physics, Monash University, University of Southern, Airport, Lawrence Livermore National Laboratory, MIT's, Science, Fusion Center, Fusion Systems, Getty Images, TechCrunch Locations: South Korea, Australia, University of Southern California, Shanghai, China, Pudong, levitating, Lawrence Livermore

☆ The edtech startup funding slowdown may be hitting the 'bottom of the market'
▼ + stars: | 2023-08-08 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

Edtech venture capital funding in 2023 may be on pace for its lowest annual total since 2016. The one exception to this edtech funding dropoff is in AI tools for education and upskilling. This puts the estimated total funding for 2023 at only $3.5 billion, the lowest annual total since 2016, according to HolonIQ. Additionally, there has not been a single edtech "mega round," or a startup funding round valued at over $100 million since 2022, with the exception of the Indian edtech unicorn Byju's $250 million fundraise this spring. Pujji and Mushin also indicated that AI edtech deals were the exception in this slowdown period.

Persons: VCs, It's, Vinny Pujji, Iynna Halilou, Leeor Mushin, Avalanche's Katelyn Donnelly, Mushin, they've, Chegg's, Cheggmate, Khan, Pujji Organizations: Left Lane Capital, Global, Bloomberg, Investors

☆ Dropoff in venture capital funding triggers uptick in pre-emptive deals with investors desperate to back the hottest startups
▼ + stars: | 2023-08-02 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Venture capital funding was cut in half in the first six months of 2023, according to Crunchbase. The dropoff has triggered an uptick in pre-empted deals, where investors back the most exciting startups. Payrails, Cello, and ElevenLabs are among the startups to close pre-emptive deals this year. Venture capital funding to startups has continued to collapse in 2023. The slowdown has led to something of an uptick in pre-empted funding rounds, where investors come forward with deal terms to exciting early-stage businesses before they even begin fundraising.

Persons: VCs, Tom Mendoza Organizations: Venture, Crunchbase, Energy, EQT Ventures Locations: London, Berlin

☆ Meta rolls out first feature update to Threads since launch earlier this month
▼ + stars: | 2023-07-18 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +1 min

Instagram Threads, the Twitter clone that Meta launched two weeks ago, is being updated to include new features, including a follows tab. Cameron Roth, a software engineer for Instagram, shared a Threads post on Tuesday, announcing additions to the app as part of an update to Apple's iOS. Roth said that the iOS update includes some software bug fixes and loading improvements. In a separate Threads post on Tuesday, Roth said regarding the update that users "may need to restart your app to see some of these or otherwise wait until the end of the day!" WATCH: Threads is the perfect situation at the perfect time for Meta

Persons: Meta, Cameron Roth, Roth, Elon Musk, Linda Yaccarino Organizations: Meta, Twitter, CNBC

☆ Meta Threads engagement has dropped off since red-hot debut, tracking firms say
▼ + stars: | 2023-07-13 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

What comes up must come down — at least in the case of user engagement on Threads, Meta 's new Twitter competitor. "The Threads launch really did 'break the internet,' or at least the Sensor Tower models," Anthony Bartolacci, managing director at Sensor Tower, a marketing intelligence firm, told CNBC. "In the 10-plus years Sensor Tower has been estimating app installs, the first 72 hours of Threads was truly in a class by itself." Threads saw a dropoff of more than 25% in daily active users between its July 7 peak and Monday for Threads users on Android phones worldwide. Since its debut on July 5, Threads made headlines for its Instagram sign-up integration, algorithmic feed and positive sentiment from advertisers.

Persons: Anthony Bartolacci, Bartolacci, Elon Musk, David Carr, Mark Zuckerberg Organizations: CNBC, Meta

☆ Americans' donations to charity are at a 28-year low. Blame inflation, the rise of crowdfunding, and the decline of religion.
▼ + stars: | 2023-07-01 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

It's part of the decades-long trend in which Americans have scaled back their charitable giving. There's evidence that this shift has impacted charitable giving. From 2000 to 2016, the share of Americans giving to religious causes fell from roughly 47% to 32%. Other donors have shifted their giving to political causes that wouldn't be classified as charitable giving either. Looking forward, Birkholz said he's optimistic the total giving figure will bounce back in 2023.

Persons: —, Josh Birkholz, We've, Birkholz, Jonathan Meer, Zers, I'm Organizations: Service, Privacy, Indiana University's School, Philanthropy, Indiana University, Pew Research Locations: Texas

☆ European tech fund EQT Growth set to poach investor from Goldman Sachs who will join as a new partner, sources say
▼ + stars: | 2023-06-09 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

European venture fund EQT is set to hire a Goldman Sachs investor as a partner, Insider understands. A managing director from Goldman Sachs Growth Equity is set to join the fund, sources say. An investor at Goldman Sachs' startup investment arm is set to depart the banking giant to join up with Swedish private equity and venture firm EQT Growth, Insider understands. Kirk Lepke, a London-based managing director at Goldman Sachs Growth Equity, is primed to be poached by the Stockholm investor, two sources familiar with the matter said. Both EQT Growth and Goldman Sachs declined to comment.

Persons: Goldman Sachs, Kirk Lepke, Lepke, EQT, Mollie, Lepke's, Julien Bek Organizations: Goldman Sachs Growth Equity, Goldman, DoorDash, Torch, Summit Partners, Apple Locations: Europe, London, Stockholm, New York, Boston, Lithuanian, Crunchbase

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