Mastercard enters BNPL fray — Banks bulk up — CalPERS ramps up PE bets

View in browser
Insider Finance
Subscribe

Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go – click here for iOS and here for Android.

On the agenda today:

Let's get started. 


Mastercard to launch BNPL tech

Mastercard

Called Mastercard Installments, the tech will help banks, fintechs, and merchants offer their own versions of buy now, pay later to their customers. Once it launches next year, all 78 million merchants that accept Mastercard will be able to process Mastercard Installments — and compete with major BNPL players like Affirm and Klarna. Get the details here.


Banks are consolidating like crazy

Wall Street girl stocks investing

As pandemic uncertainty eases, banks are rushing to get bigger at a pace not seen since the financial crisis. So far this year there's been $54 billion in merger activity — up from $17 billion a year ago. More on banks' push to bulk up.


CalPERS is ramping up its private markets investing

A photo of CalPERS' CEO Marcie Frost.

The California Public Employees' Retirement System, California's largest pension system, is looking to make more private-equity bets — and has big hiring plans to do it. CEO Marcie Frost discusses how the pension plans to build out its PE allocation.


Wall Street's rising stars in investing, trading, and dealmaking

From left: Julia Jaskolska of CalPERS, Christopher Oglesby of Bank of America, Connie Lee of Tiger Global Management, and Lalit Gurnani of Goldman Sachs with yellow up arrows patterned out behind them on a green to yellow gradient background

After receiving hundreds of nominations from bosses, colleagues, recruiters and other financial workers, we've compiled a list of Wall Street's brightest stars who are transforming the industry. Exceptional leaders from Goldman Sachs, BlackRock, and Tiger Global — all of whom are under 35 — are featured. Meet the 25 people shaping the future of finance.


Asian markets grapple with Evergrande fallout 

Evergrande skyscraper

Asian markets are shifting lower as investors fret over Chinese property giant Evergrande's debt crisis, and power shortages halt production at suppliers to Apple and Tesla. Here's what else is going on.


Highnote used this pitch deck to raise $54 million

Highnote

Highnote, which helps small businesses launch their own debit and prepaid digital cards, announced $54 million in seed and Series A funding on Tuesday. The startup gave us a sneak peek at the 12-page pitch deck it used to secure its funding — take a look at it here.


On our radar:

  • The CEO of an ear-piercing startup overcame VC skepticism and comments like "let me ask my wife what she thinks" from male investors. Here's how she did it.
  • Nasdaq fell 2% as surging Treasury yields and inflation concerns dragged Big Tech stocks lower. More on that here.
  • Bloomberg reports that Robinhood's CEO accidentally inspired a $1 million meme stock fraud after a remark he made at a U.S. House hearing.
  • Treasury Secretary Janet Yellen has called upon Wall Street's CEOs for help with the debt ceiling, according to Bloomberg. Read more here.

Don't forget — we're publishing new crosswords through Oct. 8. Solve today's here.

Business Insider

Email sent to: you   |   Manage preferences   |   Unsubscribe

Terms of Service   |   Privacy Policy   |   © 2021 Insider Inc. 1 Liberty Plaza, New York, NY 10006
Powered By SailthrU

Key phrases

Older messages

Investors used the crypto crash after China's ban to buy the most bitcoin in four months last week: CoinShares

Tuesday, September 28, 2021

Investment in bitcoin hit its highest in four months in the week to September 24, when China announced it would ban most crypto activities. View in browser Business Insider Business Insider Business

JPM's shopping spree — Two Sigma's cloud strategy — Experts talk Chase UK

Tuesday, September 28, 2021

View in browser Insider Finance Insider Finance Subscribe Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go – click here for

Hawaiian Airlines diverted 2 flights in less than 12 hours after one passenger assaulted a flight attendant and another refused to wear a mask

Monday, September 27, 2021

Two Hawaiian Airlines flights from Honolulu were diverted Thursday after a passenger hit a flight attendant "unprovoked" and another refused to mask. View in browser Business Insider Business

Adelman's VC-style bets — Lazard pay raises — Brilliant Earth's growth plans

Monday, September 27, 2021

View in browser Insider Finance Insider Finance Subscribe Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go – click here for

Bullish sentiment toward crypto assets increases with 8 of 10 people seeing bitcoin bounce above $56,000 by year's end, says Voyager Digital

Saturday, September 25, 2021

Cryptocurrency-asset broker Voyager said 85% of respondents to its sentiment survey believe bitcoin is now in a bull market. View in browser Business Insider Business Insider Business Insider Subscribe

You Might Also Like

🤝 Amazon doubled down on AI

Thursday, March 28, 2024

China's green energy goodies are too cheap for the US | Amazon doubled down on Anthropic | Finimize TOGETHER WITH Hi Reader, here's what you need to know for March 29th in 3:12 minutes. 🌞 As

🤝 Amazon doubled down on AI

Thursday, March 28, 2024

China's green energy goodies are too cheap for the US | Amazon doubled down on Anthropic | Finimize TOGETHER WITH Hi Reader, here's what you need to know for March 29th in 3:12 minutes. 🌞 As

China’s ‘lost decade’

Thursday, March 28, 2024

Bloomberg Evening Briefing View in browser Bloomberg Ray Dalio has a warning for China. The hedge fund titan says the country should cut its debt and ease monetary policy or face “a lost decade.” China

Looking to buy a home? Good news.

Thursday, March 28, 2024

Don't miss out on lower mortgage rates ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

This woman made investing history

Thursday, March 28, 2024

And so can you. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Simple Solution Worth Billions to Walmart and Amazon

Thursday, March 28, 2024

The following is a third-party sponsored message. It should not be considered a recommendation or endorsement by HS Dent Publishing. Dear Investor, In warfighting, there's a saying: "Amateurs

Markup matters: monetary policy works through aspirations

Thursday, March 28, 2024

Tim Willems and Rick van der Ploeg Since the post-Covid rise in inflation has been accompanied by strong wage growth, interactions between wage and price-setters, each wishing to attain a certain

🇯🇵 Japan's latest low

Wednesday, March 27, 2024

Visa and Mastercard cut merchants some slack | Japan's yen hit a 30-year low against the US dollar | Finimize TOGETHER WITH Hi Reader, here's what you need to know for March 28th in 3:14

‘Out of the blue’ correction

Wednesday, March 27, 2024

Bloomberg Evening Briefing View in browser Bloomberg With a number of market watchers warning of a bubble, traders are increasingly on the lookout for signs of the cliff's edge. But if you ask

🗺️ Your guide to a finance mega-trend

Wednesday, March 27, 2024

Plus, “money dysmorphia” and how to choose between a 401(k) and IRA. ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌