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Read Lloyd Blankfein's Farewell Memo to Goldman Sachs
As expected, David Solomon was named the new chief executive officer of Goldman Sachs on Tuesday, ending Lloyd Blankfein's 12-year run as CEO of the investment bank. As he begins his transition out of the bank, Blankfein sent a farewell memo to the Goldman staff on Tuesday. Read the full memo below. To the People of Goldman Sachs Today, our
'A New Revolution of Medicine': Senseonics Brings Automation to Diabetes Care
FinTech
Automation and artificial intelligence are transforming everything from travel to finance to how garage doors are closed. The management of personal health is poised for similar disruption. Fitbit Inc (NYSE: FIT) and Apple Inc. (NASDAQ: AAPL) have taken wearable-based health monitoring mainstream and set the stage to link sensors to drug delivery systems or therapy regimens. “There’s a lot that
As Amazon Prime Day Kicks Off, Jeff Bezos Becomes Richest Man in Modern History
As Amazon kicked off its 36-hour Prime Day sale on Monday - which is something in between a a normal sale and a made-up holiday sale - founder and chief executive Jeff Bezos celebrated by becoming the richest man in modern history, according to Bloomberg. Bezos' personal net worth surpassed $150 billion on Monday in New York, according to data
Reports: David Solomon Will Be Named New CEO of Goldman Sachs on Tuesday
Goldman Sachs will officially name David Solomon as its new chief executive officer on Tuesday, succeeding Lloyd Blankein, CNBC reports. The investment bank is expected to announce the changing of the guard during a conference call with its managing directors on Tuesday morning, according to sources who spoke to CNBC. Goldman is also slated to report its second-quarter earnings on
Bluefin Research Talks Trade War Impact on Nvidia, AMD
Bluefin Research recently returned from a trip to Asia to survey demand in the semiconductor industry. Analyst Paul Peterson expects suppliers to beat Wall Street estimates in the coming earnings season and announce roughly in-line guidance. “We think the uncertainty surrounding the impact on the various tariffs imposed will provide cover for suppliers to give more muted guidance despite any
Advisors Capitulate in the Face of Rising Markets
In 1999, after one of the biggest bull markets of the century, advisors seemingly abandoned caution. Despite their stratospheric valuations, assets flowed into growth and technology stocks and out of risk-managed and value funds. Investors who earned only 20% likely complained wildly to their advisors that they had only captured a fraction of the Nasdaq Composite return which gained over
Stephen Schwarzman: Investment Strategies, Creating Blackstone and Life (2018 & 1999)
An interview with billionaire private equity titan and founder of Blackstone, Stephen Schwarzman. In this interview, Stephen discusses his unusual investment strategies and creating the firm, Blackstone. Stephen also talks about his life, worries for the future and advice to young people. Q2 hedge fund letters, conference, scoops etc Stephen Schwarzman: Investment Strategies, Creating Blackstone And Life (2018 & 1999)
Microsoft Prez Calls on Government to Regulate Facial Recognition Technology Following Public Backlash
Microsoft's president has called on the U.S. government to regulate the use of facial recognition technology, responding to the public backlash over its contract with the government to develop this controversial software. Brad Smith, Microsoft's president and chief legal officer, sought to balance the benefits and risks of computer-assisted facial recognition in a blog post published on Friday, noting that
4 Uses For Blockchain Technology You Hadn't Considered
FinTech
Cryptocurrencies and blockchain have grabbed the headlines recently purely for the average person to make unthinkable money from doing nothing. This has proved to be true at some points depending on your ability to buy and sell at the right time. But there is an alternative to the technology other than simply making money. Outside of finance, there are a
Most ICOs Are Failing Within Just Four Months
FinTech
Four months – that’s about how long over half of cryptocurrency startups last after their ICO, a recent study found. With entrepreneurs raking in millions before even delivering a valuable service, and little to no governance, it’s no surprise the majority are never more than a flash-in-the-pan failure. Dr. Hermann Liu and Haydar Haba—serial entrepreneurs and blockchain authorities with experience