BI Prime Finance 2020-04-25T19:06:00Z

A crop of fintechs is trying to help banks and small businesses with the new $320 billion round of PPP loans. Here's what they're doing.

How fintechs like Plaid and PayNet are working with lenders and small businesses on PPP applications and tracking documentation for loan forgiveness.
BI Prime Finance 2020-04-25T12:35:20Z
cleaner coronavirus office meeting room

What to expect when you're back in the office: 7 real-estate experts break down what the transition will look like, and why the workplace may never be the same

Experts explain how decisions will be made about when people can go back to work, what to expect once businesses reopen offices,
BI Prime Finance 2020-04-24T17:33:23Z
FILE PHOTO: Stephen A. Schwarzman, chairman and CEO of Blackstone, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 22, 2019. REUTERS/Arnd Wiegmann

Blackstone CEO Steve Schwarzman says some big investors are 'cool' with Zoom calls replacing in-person meetings, and that the PE giant nabbed $500 million remotely earlier this week

Blackstone CEO Stephen Schwarzman says his private-equity behemoth is forging on with fundraising over Zoom calls, despite the coronavirus pandemic.
Finance 2020-04-26T01:03:00Z

THE GLOBAL NEOBANKS REPORT: How 26 upstarts are winning customers and pivoting from hyper-growth to profitability in a $27 billion market

This report explores how the neobank market has grown rapidly, and what's in store as the industry pivots from hyper-growth to sustainability.
Finance 2020-04-26T00:02:00Z

These are the hottest fintech startups and companies in the world

Business Insider Intelligence has put together the following list of 10 Up and Coming Fintechs for 2019.
Finance 2020-04-25T18:00:00Z

THE PAYMENTS ECOSYSTEM: The biggest shifts and trends driving short- and long-term growth and shaping the future of the industry

In this report, Business Insider Intelligence examines the payments ecosystem today, its growth drivers, and where the industry is headed.
Finance 2020-04-25T16:15:00Z

How Wall Street giants made the transition to run their sprawling operations remotely — and why it could transform the future of work

Early into the remote transition, some Wall Street firms are already considering how coronavirus could permanently transform the way they work.
Finance 2020-04-25T16:07:00Z

From imploding deals to new opportunities, here's everything you need to know about how coronavirus is transforming real estate

Flex-office and hospitality startups are cutting jobs, while some industry giants are predicting the coronavirus will create a new era of remote work.
Finance 2020-04-25T14:23:25Z

Private-equity capital calls; payments winners and losers; the future of flex office

Wall Street Insider is a behind-the-scenes look at the stories dominating banking, business, and big deals.
Finance 2020-04-25T14:04:00Z

The Death of Cash

The Death of Cash report projects what the payments ecosystem will look like through 2024 by examining digital payment proliferation's driving forces.
BI Prime Strategy 2020-04-25T12:58:00Z

How big banks decided the futures of America's small businesses: The inside story of how $349 billion in government cash was doled out in just 12 days, leaving thousands of entrepreneurs without relief

The Paycheck Protection Program's first round was like "cramming a football through a garden hose." But a few factors determined who got through.
Markets 2020-04-25T12:40:00Z

'A fool's game': 4 economists break down what it's like forecasting the worst downturn since the Great Recession

"I come at this with a huge amount of humility as anyone should. These numbers have been a moving target," said Heidi Shierholz of the EPI.
Markets 2020-04-25T12:36:00Z

Warren Buffett is keeping quiet during the coronavirus crisis. We asked 8 Reddit users to speculate on what he's doing.

"He's sitting in his bathrobe, reading the paper and sipping coffee, waiting for the market to reflect the reality of the economy."
BI Prime Markets 2020-04-25T12:33:00Z

A renowned market bear says stocks are setting classic trap before another steep plunge — and says the market is at risk of a 57% drop from current levels

"My sense is that investors remain disoriented about where they actually are in the cycle," says John Hussman.
Finance 2020-04-25T11:03:00Z

THE ONLINE MORTGAGE LENDING REPORT: How banks are striking back against Quicken Loans and other digital-first lenders in the $9 trillion US mortgage market

Business Insider Intelligence examines the state of mortgage lending and how technology has enabled alt lenders to transform the home loan process.
Finance 2020-04-25T10:00:00Z

Financial Services: 6 Key Attributes to Attract Gen Z

This report highlights six core traits of Gen Z, which banks and payments firms can use to attract, engage, and retain this growing demographic.
Markets 2020-04-25T07:27:00Z

'There is no reason to be bailing out Middle Eastern overproduction': Analysts break down how to prevent further oil price volatility

US oil and Brent crude have recovered after historic lows. Analysts explain how to stop oil from crashing again.
Transportation 2020-04-25T02:52:50Z

AutoNation is returning $77 million in US payroll assistance coronavirus relief loans

A spokesman for the company told Reuters AutoNation was "clearly eligible and applied on behalf of the 7,000 employees furloughed caused by the COVID-19 crisis."
BI Prime Finance 2020-04-25T01:05:57Z

Leaked memo shows Bank of America's talking points for staffers on how to handle the next round of PPP loans — and warns that funds likely won't meet 'extreme need and demand'

Here's what Bank of America is telling staffers ahead of the second round of PPP loans, including how clients can apply and that funds could run out.
Finance 2020-04-24T22:00:00Z

Why are Apple Pay, Starbucks' app, and Samsung Pay so much more successful than other wallet providers?

A new report from BI Intelligence addresses how in-store mobile payments volume will grow through 2021, why that’s below past expectations, and what successful cases can teach other players in the space.
Markets 2020-04-24T21:09:00Z

Nintendo cuts 'Animal Crossing: New Horizons' interest rates to boost virtual spending

Players received a letter from the game's Bank of Nook explaining the change. The letter included a rug shaped like a bag of bells.
Markets 2020-04-24T21:08:00Z

Famed 'Big Short' investor Steve Eisman explains why he's betting big on major US banks

Steve Eisman says the best cyclical play coming out of the coronavirus pandemic is the large US bank stocks.
Finance 2020-04-24T21:02:00Z

THE AI IN INSURANCE REPORT: How forward-thinking insurers are using AI to slash costs and boost customer satisfaction as disruption looms

Business Insider Intelligence examines AI solutions across key areas of the front office — customer service, personalization, and claims management.
BI Prime Strategy 2020-04-24T20:25:00Z

A new study shows over 100 public companies got $550 million of federal loans intended for 'small businesses'

Ashford Hospitality Trust claimed the largest PPP loan — $30.1 million — followed by Meritage Hospitality Group, which claimed $29.1 million.
Finance 2020-04-24T20:03:00Z

TRANSFORMING USER EXPERIENCE IN BANKING: Here are the strategies winning financial institutions are using to deliver a superior user experience

This report looks at winning UX design strategies employed by leading banks to reveal how other FIs can best capture the UX opportunity.
Markets 2020-04-24T19:50:18Z

Facebook pops, Zoom drops on Facebook announcing 'Rooms' video-chat competitor

Facebook announced 'Rooms' on Friday, a video-conferencing app that will directly compete with Zoom and Google Hangouts.
Transportation 2020-04-24T19:37:00Z

I drove a $47,000 Kia Telluride to see if this upstart midsize SUV could take on Ford, Chevy, Toyota, Honda, and VW

The Telluride impressed me at all levels and represents a fantastic value for the popular SUV segment.
Markets 2020-04-24T19:23:10Z

Here's the complex and expensive way some oil producers are guarding against plunging prices

Adding hedges will be much more challenging for the rest of 2020 due to the downward shift in the curve and the increase in volatility, IHS said.
BI Prime Markets 2020-04-24T17:35:00Z
Markets 2020-04-24T17:18:00Z

Peloton jumps 9% after attracting a record 23,000 members to single virtual cycling class

With gyms shut down across the country, Peloton is pulling unprecedented attendance for its virtual cycling classes.
Markets 2020-04-24T17:02:20Z

DraftKings soars as much as 18% in trading debut amid sports lockdown and intense market volatility

The betting platform went public through a unique merger that allows shares to begin trading without an initial public offering or direct listing.
BI Prime Finance 2020-04-24T16:50:00Z

The vehicle DraftKings used to go public has caught the eye of cannabis investors, who have poured nearly $3 billion into 'blank check' money

Investors are raising billions to chase cannabis deals through special purpose acquisition vehicles, or SPACs. The reception on Wall Street is mixed.
Finance 2020-04-24T16:33:00Z

How growing consumer demand for tech solutions is accelerating innovation in financial services

Business Insider Intelligence has created an infographic showcasing compelling statistics from its recent fintech research.
Markets 2020-04-24T16:12:00Z

Fewer than half of working Americans will have a paycheck in May as devastating coronavirus layoffs persist, economist says

"It would be another signal that a V-shaped recovery for the US economy is highly unlikely," James Knightley of ING said.
Markets 2020-04-24T16:06:37Z

US durable goods orders slump the most since 2014, weighed down by the coronavirus pandemic and canceled Boeing orders

"We can't be too upbeat," said James Knightley, chief international economist at ING. "We still expect to see investment fall sharply through 2Q."
Markets 2020-04-24T15:56:00Z

Oil spikes 9% as market rebound puts negative prices in rear view

While some analysts are cheering the rebound, others see the move as a "dead-cat bounce" before another sharp downturn.
Markets 2020-04-24T15:38:17Z

Zoom surges as much as 7% to all-time highs following inclusion in Nasdaq 100 Index

Nasdaq announced that it would be adding Zoom Video Communications to the Nasdaq 100 Index following its meteoric rise.
Personal Finance 2020-04-24T15:13:00Z

Here are the best savings accounts right now

The best savings accounts do not charge excessive fees, are easy to access, and earn an interest rate above the national average of 0.09%.
Personal Finance 2020-04-24T14:55:00Z

Here are the best high-yield savings accounts right now

Each of the best high-yield savings accounts is free of monthly maintenance fees, FDIC-insured, and appropriate for modest and super savers alike.
Finance 2020-04-24T14:48:00Z

Discover posted very mild growth in Q1 2020, but its April figures show sharp spending downturns

Discover posted a 3% annual increase in sales volume in Q1 2020, marking a considerable deceleration from the 7% it reported in Q1 2019.
Finance 2020-04-24T14:41:15Z

AT&T CEO Randall Stephenson is retiring, and COO John Stankey will replace him

John Stankey will take over as CEO of AT&T on July 1. Randall Stephenson will serve as executive chairman of the board.
Finance 2020-04-24T13:52:00Z

Banks have been preparing to facilitate additional PPP funding

US banks prepare to resume lending to the influx of small businesses applying for PPP loans, which got an additional $320 billion in funding passed.
BI Prime Finance 2020-04-24T13:52:00Z

4 top VCs from firms like Bain and Andreessen Horowitz lay out winners and losers as the coronavirus transforms how we shop and pay

B2B players will help businesses compete with Amazon, while point-of-sale tech will see a wave of new customers as merchants shift digital.
BI Prime Finance 2020-04-24T13:47:00Z

The coronavirus is like a 'nuclear bomb' for companies like WeWork. 10 real-estate insiders lay out the future of flex-office, and how employers are preparing now.

Ten real estate experts described a short-term pinch and the potential for long-term expansion as the industry reckons with its first real challenge.
BI Prime Finance 2020-04-24T13:25:33Z

Gannett owes a hefty interest payment to private-equity giant Apollo in 2 months. It's just one of the world's biggest newspaper publisher's many mounting problems.

The publisher of USA Today and hundreds of other newspapers owes private equity giant Apollo hundreds of millions of dollars in a few months.
Markets 2020-04-24T13:16:33Z

As popular oil ETF plunged to single digits, retail investors rushed to buy the dip

By the end of day Thursday, more than 180,000 Robinhood accounts owned USO, representing a massive 2,050% increase compared to the month prior.
Markets 2020-04-24T13:13:30Z

The Fed will keep interest rates near zero for at least 3 more years, economist survey says

90% of economists surveyed by Bloomberg agreed with the Federal Reserve's response to the coronavirus epidemic.
BI Prime Finance 2020-04-24T13:12:00Z

Goldman Sachs-backed fintech Even Financial just bought a life insurance startup. Here's why that bet could pay off as policy applications soar.

Even, which nabbed a $180 million valuation last September, connects banks and lenders like Citi and SoFi with consumers via channels like Acorns.
Finance 2020-04-24T13:08:00Z

Nasdaq has launched a cloud-based data service that will operate through Amazon Web Services

Nasdaq has launched Nasdaq Cloud Data Service, run on AWS, which will give entrepreneurs and firms access to real-time exchange, index, and fund data.
Finance 2020-04-24T12:50:35Z

'We should be prepared for a new normal': 3 real estate experts on how the coronavirus is transforming offices and accelerating the rise of industrial property

Executives from JLL, Goodwin Procter and Warburg Realty discuss how coronavirus is challenging the real estate industry to get creative.
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