Finance

Exclusive news, analysis and commentary on all things Wall Street, from banking and markets to private equity and hedge funds.

Markets

Weathering the Storm: A Q&A with Vanguard on Market Volatility

Photo illustration by Connor Lin / The Daily Upside, Photo via Vanguard

The last four years have been head-spinning. Dan Newhall, Vanguard’s head of portfolio solutions, talked us through the volatility.

5 min read
Patent Drop

Wells Fargo Cloud Patent Could Fight Data Security Risks

Photo via U.S. Patent and Trademark Office

Wells Fargo’s recent patent wants to make sure you can trust the cloud.

2 min read
Banking

JPMorgan to Open Nearly 100 Chase Branches in Low-Income Neighborhoods

Photo by Vxla via CC BY 2.0

JPMorgan Chase announced it will open nearly 100 brick-and-mortar locations in low-income inner-city and small-town American communities.

2 min read
Finance

Mastercard Buys Startup That Will Help You Manage Pesky Subscriptions

Photo via Connor Lin / The Daily Upside

Mastercard is acquiring Minna Technologies, which specializes in letting bank and card customers manage (and cancel) subscription services.

1 min read
Advisor Upside

Creative Planning Sells Minority Stake to TPG

Photo via Connor Lin / The Daily Upside

TPG acquired a minority stake in one of America’s largest independent wealth managers, which could put the advisor’s valuation at $15 billion.

1 min read
Finance

Citigroup and Apollo Strike $25 Billion Partnership in White-Hot Private Credit Market

Photo by Håkan Dahlström via CC BY 2.0

Citigroup and asset management giant Apollo Global announced an alliance to source $25 billion worth of deals in the next half-decade.

1 min read
Patent Drop

Mastercard Continues Crypto Crusade with Seamless Transaction Patents

Photo of Mastercard’s Trustless Transaction Patent via the U.S. Patent and Trademark Office

Mastercard’s interest in this tech could help legitimize crypto in the broader scheme of traditional finance.

2 min read
M&A

Blackstone and Vista to Take Workplace Software-Maker Smartsheet Private for $8.4 Billion

Photo via Smartsheet

Blackstone partnered with fellow buyout expert Vista Equity Partners to take workplace software company Smartsheet private for $8.4 billion.

2 min read
Banking

BofA Bets on Brick-and-Mortar with 165 New Branches by 2026

Photo by Tony Webster via CC BY 2.0

Bank of America is counting on customers putting down their screens and driving over to an actual bank to speak with a human.

1 min read
Banking

German Government Investigates Itself Over UniCredit’s Shock Commerzbank Stake Purchase

Photo by Soenke Rahn via CC BY-SA 4.0

The German government launched an internal probe to figure out how it was blindsided by UniCredit staking a major position in Commerzbank.

1 min read
Markets

Stock Prices in Half-Pennies Are in Your Future

Photo by Vlada Karpovich via Pexels

The SEC voted unanimously to change market rules so that roughly 1,700 securities can be quoted in increments of $0.005.

1 min read
Banking

Regulators Point the Finger at Banks for Overdraft Fees, Fintech Records

Photo by RDNE via Pexels

Two US financial regulators told banks Tuesday to step up protections for consumers: for overdraft fees and tracking fintechs.

1 min read
Big Tech

Wall Street Spreads More Love Outside of Big Tech

Photo by Jason Briscoe via Unsplash

Investors are pivoting away from the Magnificent Seven, favoring the rest of the S&P 500.

2 min read
Patent Drop

JPMorgan Chase Patent Highlights Risk of AI Bias in Banking

Photo via U.S. Patent and Trademark Office

A growing footprint in AI increases risk — especially when it comes to lending and risk analysis.

2 min read
Finance

PwC Slashes 1,800 Jobs in First Mass Cuts Since 2009

Photo by Wirestock via iStock

PricewaterhouseCoopers said it will lay off 1,800 staff members at its US unit next month. It will impact 2.5% of the unit’s employees.

1 min read
Banking

Fed Majorly Backtracks on Proposed Bank-Capital Hike

Photo by Thomas Belknap via CC BY-SA 1.0

The proposal to hike holdings for the biggest lenders to buttress market shocks was sliced more than in half.

2 min read
Markets

Can a Texas Stock Exchange Really Lock Horns with Wall Street?

Photo illustration by Connor Lin / The Daily Upside, Photo by Andrey Krav via iStock

The Texas Stock Exchange is hoping to become the center of a new financial mecca in the Lone Star state when it launches next year.

4 min read
Finance

Warfare is ESG Now

Image Credit: iStock, A.Greeg

Defense stocks are taking up a growing slice of the ESG (environmental, social, governance) pie. Reports attribute that to the war in Ukraine.

1 min read
Technology

Nvidia Beats Revenue and Profit Expectations, But Was It Enough?

Photo via NVIDIA Media Assets.

Yesterday was Nvidia Day: The AI giant handily beat revenue and profit forecasts, and issued third-quarter guidance that beat expectations.

2 min read
Private Equity

Private Equity Firms to Commit $12 Billion for NFL Team Stakes After League Vote

Photo by Sandro Schuh via Unsplash

As the price of franchises soar, shrinking the pool of would-be acquirers, NFL owners are rethinking their aversion to private equity.

2 min read