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What you need to know on Wall Street today
Hello. Here's what you need to know on Wall Street today.
Spotifytook its shares public last week usingan unorthodox methodthat garnereda lot of attention.
Spotify's so-called direct listing, whichvalued the company at $30 billionat the opening trade, attracted so much interest because itbucked the traditional initial-public-offering processin several key ways.
n't worried that Spotify's unusual public listing succeeded, but said there's a "much bigger threat" facing their industry. Here's our story.
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Elsewhere in finance news, we talked to Steve Cohen's right hand man about Point72 Venture's latest investment, tech on Wall Street, and cryptocurrency. Credit Suisse's CEO bizarrely laid into Arsenal manager Arsene Wenger when asked about the global economy.
And a 71-year-old retired banker received his Stanley Cup ring 46 years after helping the Boston Bruins to a title.
Business Insider on Thursday published its list of the traders, investors, and technologists pioneering crypto on Wall Street. You can read that list here.
In markets news:
- Fed sounds the alarm on the damage a trade war could do to the US economy
- Aluminum rockets to a 6-year high after US imposes sanctions on a major Russian producer
- One Wall Street firm has formulated a plan for ruffled investors who want to brave the stormiest parts of the market again
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In tech news, Mark Zuckerberg's 2nd day of congressional grilling over user data and Facebook bias didn't go quite as smoothly as his first. Elsewhere in tech news:
- Facebook could enjoy the "unintended consequences" of new regulations
- Salesforce paid $6.86 billion to buy MuleSoft in its biggest deal ever — but MuleSoft shareholders are suing to stop the deal
- Tesla slides after 'tense' scuffle with government investigators over fatal Autopilot crash
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