Citigroup spends $8 billion a year on tech, and it's finally starting to see a hefty pile of savings from the massive investments

Citigroup seeing significant cost reductions from its $8 billion annual tech budget, resulting in as much as $600 million in net savings this year.

May 30, 2019   |   View Online »

Citigroup spends $8 billion a year on tech, and it's finally starting to see a hefty pile of savings from the massive investments Alex Morrell | Citigroup seeing significant cost reductions from its $8 billion annual tech budget, resulting in as much as $600 million in net savings this year. Read More »

A Wall Street firm crunched the numbers around how much Apple will make from its new credit card with Goldman Sachs Alex Morrell | Within a few years, Apple could be making as much as $1 billion in nearly pure profit from the Apple Card. Here's how the math works. Read More »

MORGAN STANLEY: Here's why it's too late to prevent the next recession, even if a final trade-war resolution is reached Joe Ciolli | Morgan Stanley suggests the wheels of the next recession are already in motion and warns that even a successful trade-war resolution can't stop it. Read More »

A senior partner at Baillie Gifford shares what Tesla, Amazon, and the firm's other wildly successful investments have in common — and how it identifies them early on Akin Oyedele | In an exclusive interview with Business Insider, Andrew Telfer discussed how the firm's culture enabled it to spot successful companies early. Read More »

Inside the growth plans of Aperture Investors, a new asset manager set up by a former Goldman Sachs exec that's out to change the industry Callum Burroughs | Aperture Investors is a new fund in the asset management space which is looking to offer a markedly different model to a crowded market. Read More »

Amazon's head of TV and movie marketing details the studio's turnaround effort under Jennifer Salke, and its push to become more than a 'supermarket of content' Ashley Rodriguez | Neil Gaiman's 'Good Omens' is one of the first shows developed under Amazon Studios head Jennifer Salke. It speaks to the studio's future. Read More »

Recruiting software startup SmartRecruiters just raised $50 million at a valuation above $300 million. See the deck that sold Insight Ventures on leading the startup's Series D. Megan Hernbroth | Insight Ventures led the round after leading the company's $30 million Series C in 2016, and SmartRecruiters founder said customer data was the key. Read More »

Employees at top biotech companies can get paid more than $800,000 a year. Here's where workers make the most. Lydia Ramsey | An analysis conducted by BioPharma Dive reviewed the typical pay packages at 180 biotech companies. Some workers made as much as $800,000 in 2018. Read More »

Barstool Sports is creating a $1 million incubator program to help jump-start the next Casper Lucia Moses | Barstool wants to fund direct-to-consumer companies in which it shares a mutual interest in order to grow their business and share in their success. Read More »

WeWork's CEO raised $4.4 billion from a Saudi-backed fund, but said going forward he'd consider declining investments on moral grounds Richard Feloni,Alyson Shontell | WeWork has taken $4.4 billion from a Saudi-backed fund, but in a recent interview, its CEO suggested politics could factor into future investments. Read More »

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