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.
null
Global stocks are doing something rarely seen over the past 30 years
Thestock markethas made an awful lot of history over the past couple years.
New all-time highs are achieved on a seemingly weekly basis. The 9-1/2-year bull market is now thelongest on record. And share buybacks — commonly viewed as thebull market's backbone— have occurred at an unprecedented pace.
ADVERTISEMENT
ButMorgan Stanleywould like to offer another addition to this historic era, one that involves all equity markets worldwide.
Santander poaches UBS investment bank chief Andrea Orcel as new CEO
Andrea Orcel, the head of investment banking at UBS has left the bank to become the new CEO of Spanish lender Santander, it was announced on Tuesday.
Orcel, a nine-year veteran of Switzerland's largest bank, will join Santander from early 2019, Santander said in a statement.
ADVERTISEMENT
"Delighted that Andrea Orcel is joining us as Group CEO. As we continue to transform Santander his experience is invaluable. Welcome Andrea," Ana Botin, Santander's executive chairman said in a tweet shortly after the news was announced.
Orcel, who had headed UBS' investment bank from 2012 onwards, spent almost two decades with Merrill Lynch prior to joining the bank.
Merger mania sees $60 billion of deals in just 3 days
The final two weeks of September have seen a flurry of activity in the dealmaking space, with four major deals — and rumors of a fifth — announced in just a handful of days.
Over the weekend, the bidding war for Sky finally reached its conclusion when US broadcasting giant Comcast outbid Fox for the British company in a deal that values it at more than $40 billion.
ADVERTISEMENT
Both Instagram's cofounders are quitting after reported 'tensions' with Mark Zuckerberg
Instagram's cofounders are leaving the company.
On Monday night, Kevin Systrom, CEO of the Facebook-owned photo-sharing app, announced that he and fellow cofounder Mike Krieger were departing the social media firm. His statement came aftera report from The New York Times that the duo had quit,and Bloomberg subsequently reportedthat the move came "after growing tensions with [Facebook's] Chief Executive Officer Mark Zuckerberg over the direction of the product."
Krieger and Systrom together founded Instagram in 2010, and it was acquired by Facebook for $1 billion in 2012.
ADVERTISEMENT
In markets news
- CITI: Here's a superior strategy to profit from companies that crush earnings expectations — long before they even report their results
- The world's super rich families are turning their backs on hedge funds
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT