Here are the top finance stories of the day for October 21 – Business Insider – Business Insider

The Department of Justice filed its long-awaited antitrust case on Tuesday against Google for what it alleges are unfair advantages in search and online advertising. 

At first glance, this has little to do with Wall Street, beyond those who have made investments made in the tech space.

However, it’s worth considering how this might impact the overall push by Big Tech to get deeper into banking. Whether it’s helping to facilitate payments or operating marketplaces, the past few years have seen tech companies increasingly add features and tools that make them look more like a financial companies. 

But, with this latest case, it seems unlikely that anyone in Big Tech will make a considerable push into banking in the near term, lest they also catch the eye of regulators. 

If you’re not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

Tune in on Tuesday, October 27 at 12:00 pm ET for a virtual event sponsored by Salesforce, looking at how Professional Services firms are navigating and driving growth during the COVID-19 era. Register here. 

Like the newsletter? Hate the newsletter? Feel free to drop me a line at or on Twitter @DanDeFrancesco


Tom Williams/CQ-Roll Call, Inc via Getty Images

Big news of the day was a report, first out of SparkSpread, about Morgan Stanley parting ways with two of its most senior commodities executives

Morgan Stanley’s Nancy King, its global head of commodities, and Jay Rubenstein, its head of commodities trading, have both left the bank over their use of WhatsApp

Reed Alexander has the full rundown, along with some context around why messaging platforms have become such an issue for Wall Street

Click here to read the entire story.

Goldman Sachs

Chris Hondros/Getty Images

Everyone knows you need to keep you tech and software safe. But what happens if it’s already compromised before it’s delivered to you? I spoke to security experts from Goldman Sachs and Intel about the importance of supply-chain security. Read the whole story here

Victor Perez photo

Victor Perez is a Naval veteran and today works as a credit derivative trading VP at Wells Fargo.

Victor Perez

Here’s a great piece from Reed Alexander on a veteran who’s giving back to help fellow vets transition to Wall Street. Victor Perez is a vice president in credit derivative trading at Wells Fargo that is a cofounder of the Charlotte chapter of the Veterans on Wall Street initiative. Read more about the program here

External Mighty Buildings

Mighty Buildings

Ever wondered what a 3D-printed home looks like? Alex Nicoll takes you inside a house built by Mighty Buildings, a construction tech startup. Take a peak inside one of their homes here

Adena Friedman, Nasdaq

Adena Friedman, Nasdaq CEO


Nasdaq CEO Adena Friedman minced no words when speaking at Business Insider’s Global Trends Festival: The future is in the cloud. Read more about how Friedman sees exchanges using cloud computing. 

Odd lots:

How to get hired into private-equity in 2020: Insiders reveal everything from navigating shifting recruiting timelines to how you can break into top firms like Blackstone and TPG (BI)

Bain’s CEO unpacks the 3 biggest challenges companies are facing during the coronavirus pandemic (BI)The 8th Wonder of the World* (The Verge)

BlackRock Says Scale of Restructuring May Exceed 2008 Crisis (Bloomberg)

Goldman Poised to Pay More Than $2 Billion in DOJ’s 1MDB Probe (Bloomberg)

Commercial REITs for Small Investors See Increasing Demand (WSJ)


Leave a Reply