Dexcom, Abbott partner with automated insulin pump maker

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What to read today: US Mobile Wallets in 2020 and Beyond Report: An overall uptick in US consumer time spent on smartphones is trickling down to payments and commerce and driving volume in three core categories: mobile commerce (m-commerce), mobile peer-to-peer (P2P) payments, and mobile proximity payments. In this report, Business Insider Intelligence sizes the mobile payments market and identifies what's driving growth across these categories..
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February 29, 2020
Business Insider Intelligence
Dexcom and Abbott each partner with Insulet for automated insulin delivery
Dexcom and Abbott tied up with Insulet in separate partnerships to integrate its insulin delivery system with their continuous glucose monitors.

Medtech companies have been working to create an automated insulin delivery system that requires minimal action from patients — and this integration put both firms one step closer to this goal.

The recent Insulet tie-ups are concrete next steps for both Dexcom and Abbott in developing a viable "artificial pancreas," and if either can launch their integrated system to a wide audience, they'd quickly become an attractive partner for insurers.

Business Insider Intelligence's Dane Finley has the full story.
BRIEFING HIGHLIGHTS
Corning, Qualcomm's indoor 5G could revolutionize enterprise communications
Corning and Qualcomm revealed that they are developing a system for network operators and enterprises to offer in-building 5G coverage.
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Intuit scooped up Credit Karma for $7B to diversify its product suite
Intuit has agreed to purchase the credit scoring fintech for $7 billion in cash and stock, which marks Intuit's biggest acquisition to date.
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PepsiCo acquires online-focused snack company based in China
PepsiCo has agreed to acquire Be & Cheery, a China-based snack company that predominantly sells online, for $705 million.
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Amazon debuts its Amazon Go Grocery store in Seattle
Amazon opened a grocery store that uses Go technology, bringing autonomous checkout to a new format and a much larger location that ever before.
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Morgan Stanley's E-Trade purchase will help it reach new demographics
Morgan Stanley is buying E-Trade for $13 billion in an all-stock takeover – likely helping it reach new demographics and stave off competition.
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E-commerce sales surpassed 10% of total retail sales in 2019
The US retail industry was estimated to have recorded almost $1.5 trillion in sales in Q4 2019, with e-commerce contributing over $187 billion.
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Realme is set to disrupt the global 5G smartphone market
Smartphone upstart Realme announced its first 5G flagship for the global market — marking it as a company other players should keep on their radars.
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National Australia Bank expands its gambling block feature
National Australia Bank has expanded the rollout of a feature that allows users to block gambling transactions on NAB credit and debit cards.
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A Nokia sale could benefit competitors, big tech companies, and the US government
Nokia is reportedly working with advisers to explore new directions for the company – including the possibility of a sale or merger.
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Lloyds, Virgin Money are cutting headcounts to reduce costs
Lloyds intends to eliminate 780 jobs and Virgin said it would cut 500 jobs and close 52 branches in an effort to reduce costs.
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RESEARCH IN FOCUS
US Mobile Wallets in 2020 and Beyond Report
An overall uptick in US consumer time spent on smartphones is trickling down to payments and commerce and driving volume in three core categories: mobile commerce (m-commerce), mobile peer-to-peer (P2P) payments, and mobile proximity payments. In this report, Business Insider Intelligence sizes the mobile payments market and identifies what's driving growth across these categories.
Get the full report →
The Chatbots in Insurance Playbook
Incumbent insurers are using chatbots to transform from passively engaging customers to putting customer engagement at the forefront of their business models. In this report, Business Insider Intelligence's proprietary transformation maturity scale allows firms to measure the maturity of their chatbot deployments.
Get the full report →
AI In Medical Diagnosis
This report examines the value of AI applications in three high-value areas of medical diagnosis — imaging, clinical decision support, and personalized medicine — to illustrate how the tech can drastically improve patient outcomes, lower costs, and increase productivity. We look at US health systems that have effectively applied AI in these use cases to illustrate where and how providers should implement AI.
Get the full report →
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JPMorgan on the hunt; private equity's data culture clash; Symphony's plan to woo the buy side

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BUSINESS INSIDER
Wall Street Insider
 
 
 
 

 

 

Hi readers, 

One word caught our eye this week: "aggressive."

As in, JPMorgan CEO Jamie Dimon saying the firm is going to be "much more aggressive in acquisitions across the board." So what else could the biggest U.S. bank be looking to add, exactly? Well, there were some clues. Buying another deposit-taking bank is a no-no for JPMorgan. Sheer scale doesn't exactly appear to be the goal, and Dimon said the bank will be open-minded and creative.

Rebecca Ungarino talked to insiders to learn what could fit the bill for JPMorgan — particularly when it comes to its asset and wealth management division. 

And with all the deals already going on targeting fintechs and newer players — Intuit said it would buy Credit Karma just days after Morgan Stanley revealed plans to buy E-Trade — Dan DeFrancesco laid out 7 buzzy fintechs that could be looking like a good buy for whoever is on the hunt. 

wealth management and tech wall street 2030 4x3

A culture clash is holding private equity back from using data to do deals — here's how firms can overcome the human roadblock

To understand why the use of data in the investment process is only in its early stages in the private-equity industry, look no further than conversations at a massive industry gathering this week. Casey Sullivan was part of the crowd of thousands at SuperReturn in Berlin. He chatted with insiders about the challenges of getting getting investment professionals and data scientists to work together — as one put it, "EQ is more important than IQ" when it comes to collaboration. 

Citadel, BlackRock, and D1 Capital are racking up hundreds of millions in gains as coronavirus fears tank airlines, cruises, and movie-theater stocks

The spread of coronavirus dominated headlines and tanked global markets this week. But as Bradley Saacks writes, there are some asset managers seeing upside in the chaos. BlackRock, Citadel, D1 Capital, and Adelphi Capital are all racking up big gains on short positions in airlines, cruise companies, movie theaters, and malls — companies that were directly impacted by the unfolding public health crisis.

Symphony's CEO is plotting a big strategy shift as the messaging startup struggles to lure hedge-fund clients

Messaging startup Symphony, which has raised $460 million from some of the biggest firms on Wall Street en route to a $1.4 billion valuation, is adding a referral program allowing customers to sign their own clients up to the platform for free.

The plan, as explained by Symphony CEO David Gurle in an exclusive interview with Dan DeFrancesco, will be rolled out in the coming months and is meant to entice more buy-side users, long a sore spot of the firm, as it looks to gain traction helping facilitate complicated financial trades. 

Bank of America is shaking up its global markets division and poached a Goldman Sachs exec to fill a key new role

Alex Morrell was first with a big scoop on all the details — plus we've already updated our equities and FICC org charts for Bank of America to help you wrap your head around the new power structure. And the latest Goldman partner exit means another name to add to Dakin Campbell's running list — you can check that out here. 

BAML thumb update 2*1

We got a look at billionaire investor Seth Klarman's super-rare book. Here are the predictions he nailed, and where he missed.

Klarman's book, "Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor," is something of a (very expensive) cult classic. It's out of print, and first editions sell online for thousands of dollars. As Bradley writes, some of the proclamations in the 1991 text don't exactly stand the test of time — indexing, as it turned out, wasn't just a fad — while others hold up just fine. 

If you aren't yet a subscriber to Wall Street Insider, you can sign up here.

That's it from me! A roundup of of fintech news and must-know people moves below. As always, my line is open at mmazzilli@businessinsider.com

Enjoy the weekend, 

Meredith


People moves

Revolving door

Fintech and proptech

Salt Lake City, Utah

 
 
 
 
 
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17 rules for using commas without looking like a fool

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Even the slickest grammarian struggles with proper comma use, so we compiled a list of the places in a sentence you'll need one — using ducks.

Business Insider Select

February 29, 2020   |   View Online »   |   Learn about BI Prime »
 
17 rules for using commas without looking like a fool

17 rules for using commas without looking like a fool

Even the slickest grammarian struggles with proper comma use, so we compiled a list of the places in a sentence you'll need one — using ducks.

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Ex-Carnival and Royal Caribbean workers reveal the 7 most annoying things you can do as a cruise-ship passenger

Ex-Carnival and Royal Caribbean workers reveal the 7 most annoying things you can do as a cruise-ship passenger

Seven current or former cruise ship workers described to Business Insider the most annoying things passengers do.

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'That was a f--- up:' Women's coworking startup The Wing's last-minute change of plans for a Brooklyn childcare service has left some working moms in the lurch

'That was a f--- up:' Women's coworking startup The Wing's last-minute change of plans for a Brooklyn childcare service has left some working moms in the lurch

Members were notified a day before the Williamsburg location opened that there would not be on-site childcare as advertised.

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Don't say these 5 things to your kids if you want them to grow up mentally strong

Don't say these 5 things to your kids if you want them to grow up mentally strong

It's unhealthy to tell children to hide their emotions, both positive and negative. Avoid squashing emotions with these five phrases.

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We broke down the differences between credit card points and frequent flyer miles — here's why you should be collecting both

We broke down the differences between credit card points and frequent flyer miles — here's why you should be collecting both

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34 things you should remove from your résumé immediately

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Google tried to prove managers don't matter. Instead, it discovered 10 traits of the very best ones.

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Apple is still selling the iPhone XR from 2018 for $600 — here's how it compares to the 2019 $700 iPhone 11

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After years of procrastinating, a sentence from my stepmom changed the way I think about saving for retirement

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