- Flickr/Ellen Munro
- Flickr/Ellen Munro
Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
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There has been a lot of deal news in the last 24 hours.
Qualcomm is reportedly nearing a deal to buy NXP Semiconductors, in what could be the biggest deal ever in the semiconductor industry. A $47 billion transatlantic tobacco deal is in the works.
Trivago, the online hotel reservation company backed by Expedia, is expected to list its shares in New York by the end of November, according to Portia Crowe at Business Insider. The deal could value Trivago at $5 billion.
And Altice USA, the cable operator that Netherlands-based Altice put together by acquiring Cablevision and Suddenlink Communications, is drawing up plans for a potential initial public offering.
Elsewhere in company news, Steve Ballmer says Microsoft is “the only company that ever had any synergy” with Yahoo. Uber is launching its own debit card in Mexico to get more people to take rides. Twitter is facing some tough choices to stay afloat.
And here’s how a $50 drug ends up costing you $700 in America’s healthcare system.
The Wall Street Journal is asking a “substantial number” of staff to take voluntary buyouts.
In finance news, struggling hedge funds could be the “canary in the coalmine” for the global economy. Hedge fund manager Kyle Bass is wrong about inflation, according to Business Insider’s Linette Lopez.
Lastly, take a tour of Cartier’s glittery, jewel-filled mansion, which has special rooms just for the 1% to shop.
Here are the top Wall Street headlines at midday
General Electric cut its revenue forecast – General Electric reported a 6.7% rise in quarterly profit on Friday, helped by strength in its power and renewable energy businesses.
Mall investors are about to feel the impact of online shopping – The dramatic shift to online shopping that has crushed US department stores in recent years now threatens the investors who a decade ago funded the vast expanse of brick-and-mortar emporiums that many Americans no longer visit.
Skechers is crashing after blaming its weak earnings on a “shorter back-to-school period” – The apparel company Skechers was tanking on Friday after missing on both earnings and revenue in the third quarter.
“The foundation for a powerful US dollar rally is in place” – After a strong two years, the dollar has remained more or less flat during the last few months, with the trade-weighted dollar index hovering near a range of 93 to 98.
It’s getting harder to understand why automakers are placing big bets on electric cars – A hundred years ago, the electric motor lost out to the gas engine.
Thailand is ordering its former prime minister to pay $1.3 billion for her failed rice plan – Thailand’s military junta has fined former prime minister Yingluck Shinawatra 35 billion baht ($1.3 billion) and ordered to have her assets seized as the result of a rice stockpiling plan that went awry.
Here’s everything on Neiman Marcus’ must-have gift list for billionaires – It’s back. Neiman Marcus has released its 2016 Christmas Book, an annual collection of suggested gifts from the storied department store.