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☆ The Pitch Deck Healthtech Startup Sunnyside Used to Raise $11.5 Million
▼ + stars: | 2023-11-15 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +3 min

One startup wants to help consumers be more mindful about their alcohol consumption — and it just raised $11.5 million in venture-capital funding. The startup, Sunnyside, announced that it raised a Series A funding round led by Motley Fool Ventures. Sunnyside's founder Nick Allen launched the startup in San Francisco in 2020, initially calling it Cutback Coach. Sunnyside offers a mobile app that encourages "mindful drinking" practices via weekly goal setting, text reminders, an online community, and one-on-one coaching. Check out the 10-slide pitch deck Sunnyside use to raise its Series A funding round.

Persons: Motley, Cooley, Michael Lee, Nick Allen, Allen, hasn't, Steve Lloyd Organizations: Motley Fool Ventures, Will Ventures, Uncork, Offline Ventures, Joyance Partners, Wisdom Ventures, Eudemian Ventures, Business, Big Tech, Sunnyside Locations: Sunnyside, San Francisco, Valley

☆ Confessions of a startup founder's wife
▼ + stars: | 2023-11-15 | by ( Melia Russell | ) www.businessinsider.com time to read: +20 min

I wished I had told Kyle that I would understand if he wanted to quit. That's as apt a description of Kyle's startup as it is of our relationship. I'm not sure Kyle has found as many perks to being a startup founder married to a startup reporter. Now Kyle's startup has pivoted a third time. The truth is, I don't know if Kyle's startup will make it.

Persons: Kyle, Kyle shrugged, pang, I'd, hadn't, Scott Belsky, It's, messier, I've, he'd, Jillian, Chris Dixon, Andreessen Horowitz, Jeff Bezos, MacKenzie Scott, Schulze, TikTok, Josh Cochran, Marc Andreessen, I'm, He'd, Eric Paley, Steve Jobs, —, Playbyte, he's, Rohan Seth, Paul Davison, Steve Huffman, hasn't, Instagram, it's, Zelda, That's, cradling, Melia Russell Organizations: Apple Watch, Steam, Francisco's Mission, University of California, TechCrunch, White House, YouTube, Labor Locations: Champagne, Francisco's, Berkeley, San Francisco, New York, America, Playbyte, Kyle, Boston, Bay, sobs

☆ Check out the pitch decks AI startups Viso, Weav.ai, Dashtoon, and Frenetic used to raise a collective $31.2 million
▼ + stars: | 2023-11-15 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

Four AI startups in the form of Weav.AI, Dashtoon, Frenetic, and Viso recently raised a combined $31.2 million in early-stage funding. All four startups, working in sectors ranging from computer vision to AI-driven illustration, shared their pitch decks with Insider. Viso raises round led by Spotify-backer AccelIn October, Swiss startup Viso secured $9.2 million from venture capital giant Accel. Developing computer vision applications is a timely and complex task, and scaling this technology usually "requires significant infrastructure," the startup said. Its platform allows clients — from construction companies to logistics enterprises and city councils — to manage and deploy these computer vision tools from one workspace.

Persons: Viso, DeepMind's Mehdi Ghissassi, Gaudenz Boesch, Slack, Mehdi Ghissassi, Mihai Faur Organizations: Accel, Sierra Ventures, Business, Spotify Locations: Swiss, —

☆ Alphabet-backed GoCardless considers takeovers as CEO expects a barrage of consolidation
▼ + stars: | 2023-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Hiroki Takeuchi, GoCardless chief executive, on the MoneyConf Stage, attends Web Summit 2021 in Lisbon, Portugal. Last year, GoCardless acquired the Latvian open banking startup Nordigen in its first major acquisition. Open banking is one thing and definitely something we think is really important." GoCardless' technology allows firms to collect direct debit payments from consumers. What is open banking?

Persons: Hiroki Takeuchi, Harry Murphy, We're, GoCardless, Takeuchi, Rapyd, they're, we've, Nordigen Organizations: Sportsfile, Getty, GV, CNBC, Tink, PayU GPO, GoCardless Locations: Lisbon, Portugal, British, Latvian, Britain, Statista, London

"We're going to start seeing two big waves of growth" in Mexican startups, said Eric Perez-Grovas, co-founder of venture capital fund Wollef, in an interview, adding an earlier slowdown in financing activity was starting to reverse. Mexico's startups are looking to recover after a lackluster year, hit by rising inflation and high interest rates, dampened investment prospects. "The economic outlook is really, really positive, inflation is coming down and employment is steady. Nexu, an auto-financing startup, landed a $20-million investment round last month, adding onto $53 million it had previously raised. Nexu's round was oversubscribed and had buy-in from foreign investors, however, showing market appetite is increasing, said Perez-Grovas.

Persons: Edgard Garrido, Eric Perez, Melonn, Andres Felipe Archila, Perez, Grovas, Abdon Necif, Kylie Madry, Sarah Morland, Rod Nickel Organizations: REUTERS, MEXICO CITY, Mexico's, Wollef, Thomson Locations: MEXICO, Mexico, U.S

☆ 'There's a lot of things that can go wrong': A market-beating hedge fund manager shares how he's preparing for chaos in 2024 — and explains why uranium will continue to soar
▼ + stars: | 2023-11-10 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Prepare for volatility and chaos in 2024Kupperman's confidence in his hedge fund is inversely related to his outlook for the economy. "Recent geopolitical events, along with the collapse of bonds in many developed markets, seem likely to lead to an increase in overall market volatility," Kupperman wrote in his letter. If he's right about inflation, his hedge fund would be well-positioned to beat the market for a fifth consecutive year in 2024. "I do the same thing always, which is you buy cheap companies with really strong tailwinds and you hold 'em through the volatility," Kupperman said. For the last 18 months, Kupperman has been convinced that the future is in two commodities: oil and uranium.

Persons: Harris Kupperman isn't, Kupperman, I'm, it's, Wall, Valaris Organizations: Praetorian, Fund, Praetorian Capital Management, US, Uranium Trust Fund, Valaris, Tidewater Locations: Tidewater

☆ Robinhood misses Q3 revenue estimates on muted trading activity
▼ + stars: | 2023-11-07 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid Acquire Licensing RightsNov 7 (Reuters) - Robinhood Markets (HOOD.O) missed Wall Street estimates for third-quarter revenue on Tuesday, weighed by a slowdown in trading activity, sending shares of the online brokerage down more than 9% in extended trading. Robinhood was at the center of the 2021 retail trading frenzy, driven by mom-and-pop investors who used the company's commission-free platform to pump money into so-called "meme stocks" during the pandemic-era lockdowns. Reuters GraphicsAccording to company executives, Robinhood often sees lower trading volumes around the holidays in November and December. The company also expects its interest revenue to decline in the current quarter on a sequential basis. Reuters GraphicsRobinhood's net revenue rose 29% to $467 million in the three months ended Sept. 30, but missed analysts' expectations of $478.4 million, as per LSEG data.

Persons: Brendan McDermid, Robinhood, Jason Warnick, Manya Saini, Shilpi Majumdar, Shounak Organizations: Robinhood Markets, Inc, Nasdaq, REUTERS, Reuters, U.S, U.S . Federal, Reuters Graphics, Thomson Locations: New York City, U.S, U.S ., Bengaluru

Nov 7 (Reuters) - Enable, a startup that sells rebate software to trading partners, has raised $120 million in a latest funding round that valued it at $1 billion, the company said on Tuesday. Its previous capital raise over a year ago had put Enable's value at over $800 million. The fresh private funding in a slowing market for growth stage financing comes as the software firm more than doubled its revenue, according to the company. Founded in the UK in 2016 before relocating its headquarters to San Francisco in 2020, Enable offers cloud-based software to manufacturers, distributors and retailers to manage the rebate program in their supply chain. "Given the gap in the market, they're able to persist and grow despite a lot of the macro (economic conditions).

Persons: We've, Andrew Butt, They're, Arsham Memarzadeh, Krystal Hu, Bill Berkrot Organizations: Lightspeed Venture Partner, Schneider, Lightspeed, Thomson Locations: San Francisco, U.S, Canada, Europe, Australia, The U.S

On Monday, WeWork's stock trading was halted ahead of the opening bell. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementEmbattled real estate giant WeWork filed for Chapter 11 bankruptcy on Monday. WeWork's bankruptcy comes amidst a years-long reorientation for the office industry. Offices globally emptied, and the once-stable commercial real estate sector was thrown into unprecedented chaos, from which it has not fully recovered.

Persons: WeWork, —, David Tolley, Adam Neumann —, SoftBank, Regus, wasn't WeWork, I've, Masayoshi Son, Adam Neumann, Jackal Pan, Sandeep Mathrani, Neumann, Marcelo Claure Organizations: Service, WeWork, Wall Street, New York Stock Exchange, Visual China, Getty, CNBC Locations: Canada, WeWork, York

☆ The great startup cash crunch is underway — and it's forcing late-stage companies to face their demise
▼ + stars: | 2023-11-05 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +5 min

The VC funding picture for late-stage startups is looking pretty grim with capital hard to come by. Some late-stage startups are now folding and selling off their best assets during this cash crunch. AdvertisementAdvertisementIt's been a pretty brutal year for startups and their founders looking to raise venture capital funding. AdvertisementAdvertisementThis longer wait time between rounds isn't totally surprising since VC funding this year has been its lowest since 2018. Startup extinction season is well underway and it seems as though we're seeing a startup per week bite the dust.

Persons: It's, —, Olive AI, Jeff Bezos, Bill Gates, Marc Benioff, Dan Lewis, Lewis Organizations: Service, Venture Monitor, US, Convoy, CNBC, Olive AI Locations: Canada

As token prices plummeted last year, the sector saw other stunning meltdowns that put several industry moguls into authorities' crosshairs. Changpeng "CZ" ZhaoThe U.S. Securities and Exchange Commission (SEC) sued Binance and its CEO Zhao in June for allegedly operating "a web of deception." Kwon faces multiple charges of fraud in the U.S. and was arrested in Montenegro earlier this year for allegedly forging documents, authorities said. He has pleaded not guilty to U.S. fraud charges that he misled customers and artificially inflated the value of his company's proprietary crypto token. Barry SilbertSilbert is the boss of crypto group Digital Currency Group whose subsidiary Genesis Global Capital filed for bankruptcy in January.

Persons: Zhao Changpeng, Binance, Costas Baltas, Sam Bankman, Fried, he's, Zhao, Kwon, Luna, Terraform, Alex Mashinsky, Mashinsky, Barry Silbert Silbert, Letitia James, Silbert, Stephen Ehrlich Stephen Ehrlich's, Ehrlich, Justin Sun, Sun, Niket Nishant, Hannah Lang, Michelle Price, Anil D'Silva Organizations: REUTERS, Rights, Zhao, U.S . Securities, Exchange Commission, SEC, U.S . Commodity Futures Trading Commission, Korean, Terraform Labs, Montenegrin, Mashinsky, CFTC, U.S . Federal Trade Commission, Digital Currency Group, Genesis Global Capital, New York, FTC, Tron Foundation, Thomson Locations: Athens, Greece, China, Canada, U.S, Montenegro, New York

☆ How generative AI's uncomfortable relationship with copyright law will determine the future of the industry
▼ + stars: | 2023-11-01 | by ( Riddhi Kanetkar | Tasmin Lockwood | ) www.businessinsider.com time to read: +7 min

Rights holders argue that AI using their work without a license should be considered "unauthorized derivative work" — an infringement of copyright law. Meanwhile, AI startups insist that their models comply with fair-use doctrine, which grants them some leeway to others' works. This month, Universal Music Group sued the AI startup Athropic for circulating copyrighted lyrics. He believes that future regulations may explicitly forbid AI data scraping. "They can train models on data that's not universally available to customers, and tell them it's licensed and compliant."

Persons: Eva Toorenent, who's, that's, Simon Menashy, Menashy, Ekaterina Almasque, OpenOcean Almasque, Getty, Sunny Dhillon, Harvey, Horowitz, Andre Retterath, GDPR, CCPA, Taylor, Swift Organizations: Universal Music Group, Getty, Harvard Business, MMC Ventures, Kyber Knight Capital, Nvidia, Earlybird Venture Locations: what's, Europe

☆ Black entrepreneurs, business leaders say conservative legal challenges could hinder progress
▼ + stars: | 2023-10-28 | by ( Nicquel Terry Ellis Cnn | ) edition.cnn.com time to read: +8 min

Trigg-Jones said she applied for funding from grant groups, venture capital funds and investors, but most of them denied her. Late last month, a federal appeals court granted the Alliance’s motion to temporarily block the Fearless Fund from awarding grants exclusively to Black women entrepreneurs. Black business leaders told CNN the lawsuits, if successful, could stand to undo decades of progress toward leveling the playing field for Black and brown people in the workplace and small business sector. According to a 2019 report from American Express, Black women are the fastest growing demographic of entrepreneurs in the country. Black business owners are turned down for loans at a rate three times higher than White business owners, according to a 2020 analysis of small businesses by Goldman Sachs.

Persons: Cathleen Trigg, Jones, –, you’re, ” Trigg, Edward Blum, Blum, Fearless, ” Blum, “, Goldman Sachs, Arian Simone, ”, AAER “, Rashae Barnes, Barnes, ” Barnes, Kaycea Campbell, ” Campbell, Lenwood Long, —, Long, CNN’s Jaide Timm, Garcia, Isabel Rosales, Tami Luhby Organizations: CNN, Trigg, American Alliance for Equal Rights, Civil, American Express, “, Evals Equity, Pierce College Los Angeles, Federal, Consumer Finances, African American Alliance of Community Development Financial, Black Locations: New York, PitchBook, White

☆ Women Who Work in Utah's Silicon Slopes Share Its Dark Side
▼ + stars: | 2023-10-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +17 min

During an interview for an engineering job at a Utah tech company, Trina Limpert was told she was a "risky hire." Insider spoke to 22 women who previously or currently work at Utah tech companies told Insider. Silicon Slopes, named for Utah's world-class ski slopes, is headquarters for tech companies like Ancestry, Domo, Entrata, Pluralsight, Qualtrics, and hosts outposts for others like Adobe and a Meta data-center. Many women — both Mormon and not — described their Utah tech companies as a Mormon boys' clubs. Ancestry, one of Utah's most established tech companies, hired former Facebook executive Deborah Liu as CEO in 2021.

Persons: Trina Limpert, Limpert, she's, she'd, Claudia Geist, It's, of Jesus Christ, Robyn Cohen, Michelle Kuo, Kuo, They're, —, Robbyn Scribner, Mike Pence, they're, Scribner, Susan Madsen, there's, harasser, I've, John Richards, Richards, " Richards, Emily Perkins, that's, Deborah Liu, Liu, Heather Friedland, Ashlee Davis, who've, we're, " Madsen Organizations: Computing Technology Industry Association, Tech, University of Utah, Google, Microsoft, Meta, Adobe, Brigham Young University, of Jesus, US Chamber of Commerce, American Community Survey, Salt Lake City Tribune, Utah State University, Ignition Ventures, NASDAQ Locations: Utah, Silicon Slopes, Silicon Valley, California, Washington, New York , Utah, Utah's, New York, JumpSearch, Silicon, Southern California, Salt Lake, There's, Seattle, Glassdoor, @rosaliechan

☆ Morgan Stanley's 14 years under James Gorman: a timeline
▼ + stars: | 2023-10-25 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: 1 min

Morgan Stanley CEO James Gorman attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. REUTERS/Brendan McDermid Acquire Licensing RightsCompanies Morgan Stanley FollowOct 25 (Reuters) - Morgan Stanley (MS.N) on Wednesday named insider Ted Pick as its next chief executive officer, replacing longtime leader James Gorman, who will become the investment bank's executive chairman. Here is a timeline of key events that shaped Gorman's almost 14-year tenure atop the Wall Street giant:Sources: Company statements, investor updates, investor conferences, media reports, regulatory filingsReporting by Manya Saini in Bengaluru; Editing by Rod Nickel and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Morgan Stanley, James Gorman, Brendan McDermid, Ted Pick, Manya Saini, Rod Nickel, Sonali Paul Organizations: Reuters, REUTERS, Wednesday, Thomson Locations: New York City , New York, U.S, Bengaluru

☆ Britain tells pension funds change needed to improve returns
▼ + stars: | 2023-10-25 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

The government wants to persuade pension schemes to invest some of their funds in infrastructure as well as startups and green technology. Ten companies have now voluntarily committed to invest 5% of their pension funds, or about 50 billion pounds in total, in unlisted companies by 2030. "I think we have got too many pension funds in this country, and I do want to see an industry where we end up with fewer, larger funds," Hunt told an event to take stock of the initiative. He said he wanted to see larger funds with the confidence to invest in growth companies. Delfas said fewer, larger and well run schemes were needed, and it was time to consolidate pension funds that lack expertise, scale and appetite to deliver better returns to savers into funds that do.

Persons: Jeremy Hunt, Hunt, Aon, Delfas, Huw Jones, Sachin Ravikumar, Jane Merriman Organizations: Insurance, British Private Equity, Venture Capital Association, British Business Bank, Pensions, Thomson Locations: Britain

☆ Climate fintech is exciting investors right now. Here's why it's primed to be the next red-hot sector.
▼ + stars: | 2023-10-24 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

Startups operating at the intersection of climate tech and fintech are attracting a lot of investor attention right now. The so-called "climate fintech" sector is another such area that has seen investment tick up against the backdrop of the broader malaise that has hobbled the startup ecosystem, according to investors. Fintech-focused venture firm CommerzVentures defined climate fintech as companies that speed up decarbonization or help manage and adapt to climate risks. Climate fintech is also a software play so it has the ability to scale quickly and efficiently, which is a sweet spot for most VC investors, Morgenthaler added. "Clear and simplified renewable energy contracts, energy invoices, and tariffs in turn allow consumers to access the cheapest energy from multiple renewable sources," Bessemer investor Aia Sarycheva said.

Persons: Paul Morgenthaler, Morgenthaler, Jeremy Brown, fintech, It's, Sarycheva Organizations: " Venture, Morningstar's, Equity, Energy, Bessemer Locations: Europe, Anthemis, Bessemer

The cost to Israel's economy of its war with Hamas militants will be unlike anything it has experienced in decades. "This is not a hit for contractors or industrialists alone," said Raul Sarugo, president of the Israel Builders' Association. Israel was blindsided on Oct. 7 by Hamas gunmen from Gaza who rampaged through border towns in the deadliest attack on civilians in its history. The conflict has also halted the movement of thousands of Palestinian labourers from Gaza to Israel and curtailed the flow from the occupied West Bank. The Economy Ministry created a war room and put out a call for help.

Persons: Raul Sarugo, Israel, Netanel Shraga, Barak Klein, ThetaRay, Erel Margalit, Dror Bin, We've, Bin, Leo Leiderman, Amir Yaron, Yaron, Steven Scheer, Ari Rabinovich, Toby Chopra Organizations: Hamas, Israel Builders ' Association, West Bank, Columbia, HIGH, TECH, Factories, Israel Innovation Authority, Ministry, Bank Hapoalim, Israeli Finance Ministry, Reuters, of Israel, Thomson Locations: Israel, Gaza, Israel's, Iran, Lebanese

☆ Visa profit beats estimates on post-pandemic travel boost
▼ + stars: | 2023-10-24 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: +2 min

Visa credit and debit cards are seen in this picture illustration taken August 2, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsSummaryCompanies Cross-border volumes surge on steady travel demandStrong results signal consumer resilienceVisa Q4 adjusted EPS $2.33 beats estimate of $2.24Oct 24 (Reuters) - Card giant Visa (V.N) sailed past estimates for fourth-quarter profit on Tuesday as consumers on a post-pandemic travel rebound shrugged off worries of a looming economic slowdown and cost-of-living crisis. Visa's CFO Chris Suh said U.S. inbound travel recovery accelerated in the quarter, while travel into Asia also continued to improve. Visa's payment volumes rose 9% in the quarter, while cross-border volumes excluding transactions within Europe, a gauge of travel demand, surged 18%. Visa posted adjusted profit of $2.33 per share in the three months ended Sept. 30, topping expectations of $2.24 per share, according to LSEG data.

Persons: Benoit Tessier, Chris Suh, Suh, Michael Ashley Schulman, Logan Purk, Edward Jones, Manya Saini, Pooja Desai Organizations: REUTERS, Card, Running, Capital Advisors, Reuters, American Express, Visa, Thomson Locations: Asia, Europe, U.S, Bengaluru

☆ Fmr. NBA superstar Andre Iguodala on life after basketball, VC investing and team ownership
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. NBA superstar Andre Iguodala on life after basketball, VC investing and team ownershipAndrew Iguodala, former NBA champion with the Golden State Warriors, joins 'Squawk Box' to discuss life after basketball, VC investing, Mosaic venture capital fund, and more.

Persons: Andre Iguodala, Andrew Iguodala Organizations: NBA, Golden State Warriors

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsOct 20 (Reuters) - Credit card giant American Express (AXP.N) on Friday reported third-quarter profit that beat expectations, helped by resilient spending from its wealthy customers who shrugged off concerns about an economic downturn. AmEx reported a profit of $3.30 per share, up from $2.47 per share a year earlier. On average, analysts had expected a profit of $2.94 per share, according to LSEG IBES data. "Travel and Entertainment (T&E) spending remained robust... Restaurant spending was again one of our fastest-growing T&E categories," CEO Stephen Squeri said in a statement.

Persons: Lucy Nicholson, AmEx, “, Christophe Le Caillec, Gen Zs, Stephen Squeri, Niket Nishant, Pooja Desai Organizations: Dow Jones Industrial, American Express, REUTERS, American, Entertainment, Consolidated, Thomson Locations: Los Angeles , California, United States, Bengaluru

Oct 20 (Reuters) - Shares of mid-sized U.S. banks fell on Friday after a string of earnings reports heightened investor concerns that the boost to lenders from the Federal Reserve's interest rate hikes was tapering off. Regions Financial (RF.N) dropped to the lowest level since March, when an industry crisis began following an outflow of deposits that engulfed three banks. The lender, shares of which were last down 11% at $14.71, said it expects net interest income (NII) in the fourth quarter to decline about 5% from current levels. Huntington Bancshares' (HBAN.O) stock dipped 1.3%, while Comerica (CMA.N) dropped 6.6%, dragging down the S&P 500 Banks index (.SPXBK) by 2.1%. Huntington Bancshares posted an 8% drop in third-quarter profit as interest income declined.

Persons: Wells, Mike Mayo, Mayo, Terry McEvoy, Huntington Bancshares, NII . Huntington Bancshares, Jaiveer Singh, Shilpi Majumdar Organizations: Regions, Regions Financial, Reuters, Stephens, Comerica, Third Bancorp, Thomson Locations: NII ., Bengaluru

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. Wells Fargo, which has reduced headcount for every quarter since the third quarter of 2020, said it still sees more opportunities for layoffs. Investment banking powerhouse Morgan Stanley also disclosed a near 2% drop in its total headcount on Wednesday, compared to the prior quarter. At the investment banks Goldman and Morgan Stanley expenses rose 18% and 5% in the quarter, compared to a year earlier. The bank in January dismissed 3,200 employees, its biggest round of layoffs since the 2008 financial crisis.

Persons: Brendan McDermid, Jeremy Barnum, Morgan Stanley, Wells Fargo, Thomas DiNapoli, Goldman Sachs, Denis Coleman, That's, Coleman, Manya Saini, Niket, Lananh Nguyen, David Evans Organizations: Wall, REUTERS, JPMorgan, PNC Financial, Citigroup, Bank of America, Investment, Banks, Citi, Goldman, BofA, PNC, New York, GOLDMAN, Reuters, Thomson Locations: New York, U.S, Wells Fargo, Wells, GOLDMAN SACHS BUCKS, headcount

☆ ‘Deeply ashamed.’ Another major UPenn backer halts donations and calls on other Jews to do the same
▼ + stars: | 2023-10-18 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

The donor backlash has been driven by a Palestinian literary festival that was held on campus last month, before the Hamas terror attacks on Israel. UPenn leaders acknowledged well before the start of the Palestine Writes Literature Festival that the event would feature speakers with a history of making antisemitic remarks. “Jews have played an extraordinary role in the history and legacy of the University of Pennsylvania. Billionaire Ronald Lauder, another powerful financial backer of school, is threatening to do the same if more isn’t done to fight antisemitism. Organizers of the Palestine Writes festival denied that it embraced antisemitism, according to UPenn student newspaper The Daily Pennsylvanian.

Persons: David Magerman, UPenn, Magerman, Liz Magill’s, ” Magmeran, Magill, Scott Bok, ” Magerman, Penn, Wharton, Marc Rowan, Jon Huntsman, Ronald Lauder, Susan Abulhawa, ”, ” Magill, “, ” UPenn, Magill’s Organizations: CNN — Venture, University of Pennsylvania, Ivy League, Renaissance Technologies, Penn, Venture, Daily, CNN Locations: Palestinian, Israel, Palestine, Penn, UPenn

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. BofA's investment banking and trading units managed to outperform Wall Street expectations as they reported higher revenue, bucking an industry-wide slump. Total investment banking fees rose 2% to $1.2 billion, while sales and trading revenue was up 8% to $4.4 billion in the third quarter. BofA's net interest income (NII) rose 4% in the third quarter to $14.4 billion. BofA's revenue, net of interest expense, increased 3% in the quarter to $25.2 billion.

Persons: Carlo Allegri, Brian Moynihan, BofA, Wells, Manya Saini, Nupur Ananad, Saeed Azhar, Lananh Nguyen, Anil D'Silva Organizations: of America, REUTERS, Bank of America, Federal Reserve, Lending, JPMorgan Chase, Citigroup, Thomson Locations: Manhattan, New York City , New York, U.S, NII, Bengaluru, Nupur, New York

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