Invitae surges after report says Softbank will lead a $1.2 billion investment in the genetic-testing company (NVTA)

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• THE RISE OF GENETIC TESTING IN HEALTHCARE: How leading genetic testing companies like Ancestry and 23andMe are carving into healthcare with the promise to fuel more personalized care Summary List Placement Insider Intelligence publishes thousands of research reports, charts, and forecasts on the Digital Health industry. You can learn more about becoming a client here. The following is a preview of one Digital Health report, The Genetic Testing in Healthcare Report. You can purchase this report here. Since the first human genome was sequenced in 2003, the genetic testing market has evolved rapidly alongside consumers' interest in how their genetic makeup affects their health. The human genome was sequenced…
• 3 things Biden's Department of Education has done so far to tackle the $1.7 trillion student-debt crisis Summary List PlacementPresident Joe Biden has started to act on the $1.7 trillion student debt crisis in the country. His Department of Education has already canceled student debt for about 72,000 defrauded borrowers, and for over 41,000 borrowers with disabilities. That means more than 113,000 people in the country are getting $2.3 billion of debt relief.  Another 44 million Americans still have student-loan debt and wonder if their turn will ever come.  During his presidential campaign, Biden said he was…
• The minimum wage would be $44 per hour if it had grown at the same rate as Wall Street bonuses Summary List PlacementThe chaos that the pandemic unleashed on America's economy turned out to be a major boon for Wall Street traders, according to new data from the New York State comptroller's office. Wall Street firms paid their New York City-based traders an average bonus of $184,000 last year, a 10% increase from 2019, New York comptroller Thomas DiNapoli said in a press release Friday. But those paydays have been skyrocketing for decades. Since 1985, Wall Street traders' bonuses have…
• An options expert breaks down how the secretive derivatives instruments at the center of the Archegos implosion work — and shares a 'Warren Buffett trade' that investors can execute to take… Summary List PlacementIn the aftermath of the implosion of "Tiger Cub" Bill Hwang's family office, major Wall Street banks could be facing anywhere between $5 billion to $10 billion in losses, according to a new JP Morgan note written by analysts led by Kian Abouhossein. The debacle, which has now implicated banks including Goldman Sachs, Morgan Stanley, UBS, Deutsche Bank, Credit Suisse, Nomura, Wells Fargo, and Mitsubishi UFJ Financial, has reminded investors of the near-collapse of Long-Term Capital Management in…
• Hulu's new WeWork documentary takes you inside the cult-like coworking company. But here are 6 key details it missed. Summary List PlacementLavish parties, free-flowing tequila, and crying employees: Hulu's new documentary captures WeWork's wild ride. The startup's roller-coaster journey started in a Brooklyn office and nearly ended in bankruptcy.  "WeWork: Or The Making and Breaking of a $47 Billion Unicorn," directed by Jed Rothstein, charts founder Adam Neumann's attempts to make his startup more than a company that subleased beautifully decorated desks and office space. Neumann, now 41, sold investors like SoftBank and Benchmark Capital on his ambitions to…
• Bill Hwang lost $8 billion in 10 days during the Archegos meltdown, reports say Summary List PlacementAmid the largest melt down of a firm Wall Street has witnessed since the global financial crisis, it wasn't just banks that lost billions. Bill Hwang, the man behind Arcehgos Capital Management, also suffered a staggering $8 billion dollars in 10 days — one of the fastest losses of that size traders have ever seen, The Wall Street Journal reported. The massive selloff was largely felt on Friday last week when shares of media conglomerates and investment banks…
• Deliveroo slumps 30% at its London trading debut after pricing shares well below the lower end of IPO range Summary List PlacementDeliveroo fell as much as 30% in the food delivery-startup's public trading debut on Wednesday, marking a downbeat start to the biggest initial public offering in London in a decade. The company's shares were trading at an intraday low of 271 pence ($3.78) per share, according to the Financial Times, citing data from Refinitiv, lower than the offering price of 390 pence ($5.35).  The UK-based company had priced 384.6 million shares at 390 pence per share, the bottom…
• JPMorgan makes Silicon Valley hires — Wall Street burnout spills into Big Law — Return to office updates Summary List PlacementHello, readers! Happy Saturday, and welcome to Insider Finance. Here's a rundown of the must-know stories from the past week: JPMorgan wants to deepen its ties to Silicon Valley — and hired five people to help Archegos blowup shines spotlight on the risks lurking in swaps, family offices SPAC insiders say PIPE financing for deals is drying up and the market needs to take a "collective breath" Goldman gives updates on return-to-office plans for summer interns and full-time…
• US stocks hit records as investors cheer strong March jobs report Summary List Placement US stocks edged higher on Monday as investors cheered Friday's strong jobs report. The US added 916,000 jobs in March, beating the projected gains of 660,000. The S&P 500 and Dow Jones Industrial Average opened at record highs in Monday trades. Sign up here for our daily newsletter, 10 Things Before the Opening Bell US stocks surged to record highs on Monday as investors cheered Friday's strong jobs report. The stock market was closed on Friday in…
• THE MILLENNIAL FINANCIAL HEALTH REPORT: How the largest generation is saving and managing their money, and how banks can target products and messaging to reach them Summary List Placement This is a preview of the Insider Intelligence Millennial Financial Health premium research report. Purchase this report here. Insider Intelligence offers even more banking coverage with our Banking Briefing. Subscribe today to receive industry-changing financial news and analysis to your inbox. As the largest living generation by population, and soon income, millennials are a prime target for banks — butovergeneralizations of their financial health make it hard to attract the group. Millennials have been the subject of…