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On the agenda today:
- Nasdaq has launched what it's calling "the next evolution of the data business."
- More of Evercore's junior bankers will get pay raises.
- Pimco has delayed its full return to the office and tightened its vax rules.
Let's get started.
Nasdaq launched a new cloud-based data hub
Called Nasdaq Data Link, an exec described the project as "the next evolution of the data business." The hub will serve as a one-stop shop for users - such as asset managers and banks - to easily access the exchange's suite of datasets. More on the project that could change the way Wall Street accesses information.
More of Evercore's junior bankers are getting raises
Amid a fierce battle for talent across Wall Street, Evercore has bumped pay for first-year associates to $185,000. Second, third, and fourth-year associates will also see pay increases. Get the latest on the firm's raises (and see what other banks are paying their junior talent).
Bond giant Pimco delays its full return-to-office
The firm has pushed back its full return to the office until January 2022. It also tightened its vaccination policy, announcing that only fully vaccinated employees are able to return to the office. Here's what else we know about its plans.
Ray Dalio says investment opportunities in China can't be neglected
In a recent interview, hedge-fund billionaire Ray Dalio said investors should continue seeking investment opportunities in China and Singapore - even after the recent market turmoil that has some of Wall Street worried. Here's what else he said.
KKR's Jim Momtazee is poised to break records with his new firm
KKR's top healthcare dealmaker Jim Momtazee walked away from the private-equity giant in 2019 to strike out on his own. Now, the legendary dealmaker has his own firm and is aiming to raise a record-setting $3 billion first fund.
The SEC is threatening to sue Coinbase
The SEC intends to sue Coinbase if it releases its crypto lending product, CEO Brian Armstrong said, calling it "sketchy behavior." Then, in a tweet, Mark Cuban told Armstrong to "go on the offensive" against the SEC. Here's what Cuban advised him to do.
A software CEO lost $6 billion in one day - and is now a bitcoin guru.
Michael Saylor famously lost billions in just a day, and has since reinvented himself. He's doubled and tripled down on his bitcoin bet, and investors are lending him billions to buy "electric money." But some former employees say this has eerie parallels to his spectacular dot-com flameout.
On our radar:
- Apollo cofounder Leon Black denied claims that he flew an ex-girlfriend to meet with Jeffrey Epstein for a potential sexual encounter, the WSJ reports. What we know so far.
- Per CNBC, JPMorgan plans to buy a majority stake in Volkswagen's payments business, the latest in a string of acquisitions for the bank.
- Deutsche Bank is calling the end of remote work's honeymoon phase, Bloomberg reports. Why it thinks the WFH allure is wearing off.
- PayPal said it will acquire Japanese BNPL firm Paidy in a $2.7 billion deal that will heat up the buy now, pay later race.
- According to Bloomberg, Wall Street's ESG loans are virtually meaningless, charging companies little for missing their goals.
- Citizens Financial Group announced it will acquire JMP Group in an all-cash transaction.
