Morgan Stanley's WhatsApp woes
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.
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Morgan Stanley's mad over messages
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.
Security experts at Goldman Sachs and Intel lay out why tech supply chains are a critical but often overlooked part of beefing up defenses
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 served in the Navy before entering the world of finance. Here's how the credit-derivatives trader is helping other veterans find their footing on Wall Street.
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.
This company is building 3-D printed, small homes on existing residential properties to fight back against California's housing shortage. Look inside a unit that was move-in ready in one week.
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.
Nasdaq's CEO says the cloud is the 'future of the industry' and the tech could be used to conduct actual trading within the next decade
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:
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)