Bank of America’s CEO says that it’s saved $2 billion per year by ignoring Amazon or Microsoft and building its own cloud instead

Brian Moynihan, Bank of America's CEO, highlighted the firm's decision to move to a private cloud on its third-quarter earnings call.

October 21, 2019   |   View Online »

Bank of America's CEO says that it's saved $2 billion per year by ignoring Amazon or Microsoft and building its own cloud instead Alex Morrell,Dan DeFrancesco | Brian Moynihan, Bank of America's CEO, highlighted the firm's decision to move to a private cloud on its third-quarter earnings call. Read More »

Merrill Lynch is shifting how it handles staff who drop out of its financial-adviser trainee program, and it highlights the industry's evolving career paths Rebecca Ungarino | Financial-advisers-in-training there who exit the program are increasingly staying with the company in different roles instead of leaving altogether. Read More »

Chime, one of the hottest digital banks taking on Wall Street, faced outages that could see it lose customers. It highlights how competitive digital banking has become. Shannen Balogh,Dan DeFrancesco | Challenger bank Chime experienced an outage that locks customers out of their accounts and didn't allow them to make purchases. Read More »

GOLDMAN SACHS: These 5 trades can help investors make a killing during a crucial earnings season Marley Jay | Goldman Sachs says it's found five attractively priced options trades investors can use to beat the market during a turbulent earnings season. Read More »

'Bigger than the housing bubble': One market expert breaks down why the next US economic meltdown will be even worse than the last Christopher Competiello | Peter Schiff explains why the US economy is headed for higher rates, stagflation, and a deep recession. Read More »

Larry Ellison and insiders say that these 5 execs are on the short list to one day be the CEO of Oracle Benjamin Pimentel | Here are five execs who could step up to be Safra Catz's co-CEO, according to insiders and Larry Ellison. Read More »

'A clear turn for the worse': A Wall Street strategist lays out compelling evidence that stocks are due for a meltdown before the year runs out Akin Oyedele | Investors face a bevy of imminent risks and should remain on high alert, according to RBC Capital Markets. Read More »

Meet the company that turned YouTube's Ryan ToysReview into a business empire making tens of millions per year Amanda Perelli | Pocket.Watch turns YouTube channels into multifaceted businesses through partnerships with companies like Walmart, Amazon, and Nickelodeon. Read More »

$8.8 billion ExodusPoint's head of data strategy is out, but the hedge fund's 15-person data team has no plans to slow down Bradley Saacks | Data is the lifeblood for performance-hungry hedge funds, and ExodusPoint just lost its person, Chris Petrescu, who finds and buys unique datasets. Read More »

American Express is following in the footsteps of Brex and Stripe with plans for a corporate card for startups Shannen Balogh | AmEx's new launch will bring it into competition with buzzy fintechs like Brex, which offers corporate cards to startups. Read More »

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