Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.
ADVERTISEMENT
What you need to know on Wall Street today
Hello. Here's what you need to know on Wall Street today.
ADVERTISEMENT
Recommended articles
The billionaire founder of the hedge fund Pershing Square started a bitter proxy battle with the HR-software provider in August, calling for sweeping changes which included the replacement of CEO Carlos Rodriguez.
Elsewhere in investing news, one of the hottest hedge fund launches of the year has doubled its assets in about six months. Bridgewater reportedly paid a $1 million settlement to an employee pushed out after a relationship with a top exec. Leucadia has doubled down on an investment in hedge fund Folger Hill.
ADVERTISEMENT
And one of the world's hottest investment strategies is slowing — and that could shift the whole landscape.
In deal news, Disney has reportedly been in talks to buy most of 21st Century Fox. The deal could cost Disney $40 billion, according to Jefferies. Disney and Fox need a deal to take on the tech giants, according to Business Insider's Mike Shields. Just not this deal.
Elsewhere in deal news, Tesla is pushing forward with robot manufacturing, and traders are betting that Broadcom's record-setting hostile takeover of Qualcomm will get done.
The Tax Policy Center released an analysis on Monday of the Tax Cuts and Jobs Act, saying the bulk of the benefits from the GOP tax bill would go toward wealthier Americans. A couple of hours later, it with their analysis
- Republicans dropped a slew of changes to their tax bill on Monday — here's what they mean
ADVERTISEMENT
In related news, Forbes says Commerce Secretary Wilbur Ross inflated his net worth.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Africa's gaming gold rush: Unveiling the surge in online gambling
Seven African countries added to Meta's AI service coverage
10 African countries with the lowest inflation rates in 2024
Davido launches his label Nine+ in partnership with UnitedMasters
Nigeria's economic ranking drops to fourth in Africa
Moscow inaugurates its House of Africa
The CBN justifies $2b billion loss in forex, dispelling Naira defense claims
10 best airports in Africa in 2024
