Business Insider Intelligence Weekend Roundup

This week's highlights: Apple's rumored discontinuation of its AR glasses project would be a massive blow to the consumer AR headset market , Amazon's 2019 Prime Day sales topped its 2018 Black Friday and Cyber Monday's combined , T&T and IBM have formed a cloud alliance, and much more

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WEEKEND ROUNDUP JPMorgan Chase's CEO is hunting for the bank's next acquisition JPMorgan Chase CEO Jamie Dimon is looking to further expand the bank, saying he wants to "do one more big one before I'm done." The news comes after the bank acquired healthcare payments company InstaMed for $500 million in May. Since the financial crisis in 2008, federal regulators have been working — sometimes privately — to constrain big banks from swelling even further, but the Trump administration has rolled back or softened enforcement of banking restrictions. We think JPMorgan Chase's next acquisition target could be a neobank to make up for the recent closure of its own all-digital bank, Finn. Business Insider Intelligence's Gregory Magana has the full story. Business Insider Intelligence Daily is just a preview of Business Insider Intelligence. Get started, risk-free today to unlock research reports, briefings, industry forecasts, exclusive data, and more. BRIEFING HIGHLIGHTS Apple's rumored discontinuation of its AR glasses project would be a massive blow to the consumer AR headset market Apple has reportedly ceased the development of its augmented reality (AR) glasses project, according to people familiar with the matter. Read More → Amazon's 2019 Prime Day sales topped its 2018 Black Friday and Cyber Monday's combined This makes both days of the Amazon-founded sales event, which ran July 15-16, the third and fourth days ever to reach this milestone outside of the holiday season. Read More → T&T and IBM have formed a cloud alliance US telecom AT&T and technology giant IBM have formed a strategic alliance to jointly leverage cloud, communications, and networking technologies to enhance their respective businesses, the companies announced. Read More → Here's what Kroger stands to gain from its new partnership Grocery store chain Kroger announced it's teaming up with Salt Lake City-based genetic testing company Myriad Genetics to bring the company's GeneSight test to select members of Kroger's employee health plan. Read More → Issuing banks need to boost rewards to better credit card spend Issuers' small improvements in credit card sales volume line up with US retail's performance, which is also making small steps in the right direction. Read More → Apple is now selling smart blood pressure cuffs in-store and online Apple entered into a third-party exclusivity deal with France-based Withings — which specializes in the development of smart health devices — to offer the company's BPM Core blood pressure monitor. Read More → Bank of America is seeing a deceleration in digital sales BofA's decelerating digital sales growth may be occurring because existing customers already have personal banking accounts, and more complex account types require a visit to the branch. Read More → Xiaomi's continues to march toward chip independence Chinese technology company Xiaomi has purchased a 6% stake in Shanghai-based semiconductor company VeriSilicon Holdings for an undisclosed sum. Read More → Netflix's sub drop shows difficulty of direct-to-consumer content Netflix's US subs fell by 126,000 to 60.1 million paid memberships, down from 60.2 million in the previous quarter — the first time ever that Netflix's domestic sub base has shrunk rather than grown, per the company's Q2 2019 earnings. Read More → CBS and Viacom could finally announce a tie-up As we approach Q2 earnings season, CBS Corp. and Viacom have set the same reporting date — August 8 — in what apparently could double as a merger announcement. Read More → Did a friend forward you this newsletter? Get it daily by clicking here. RESEARCH IN FOCUS The Social Commerce Report Global internet users spent an average of 142 minutes per day on social media in 2018, up from 90 minutes in 2012. This has made social media a major influence on consumers' purchasing habits, with 36% of US internet users saying social networks have become as important as other information sources for making product choices. Business Insider Intelligence estimates the current size of the social commerce market, forecasts its future growth, and examines why its growth has been stagnant so far — as well as why that's set to change. We also look at the top social media platforms' social commerce offerings and analyze the future of each company in the space. Learn More → Tech Companies In Financial Services Tech giants are set to grab up to 40% of the $1.35 trillion in US financial services revenue from incumbent banks. Apple, Google, and Amazon are particularly encroaching on financial services and threatening incumbents with their size and ability to attract massive, loyal user bases. This report examines the moves that these companies are making to gain a larger foothold in the global financial services industry. We will then detail each tech company's threat to incumbents and outline potential next steps based on their existing moves in the financial services sphere. Learn More → The Influencer Marketing Report As influencers become more plentiful and proven, brand dollars have flooded into the space. Brands are set to spend up to $15 billion on influencer marketing by 2022, per Business Insider Intelligence estimates. This report gives actionable recommendations for how brands can effectively navigate this changing and expanding market to meet campaign goals, and how they can evolve their relationships with influencers. Brands looking to partner with influencers need to to constantly renew their perspective to ensure that they mutually maximize the value of these partnerships. Learn More → Do you already have Business Insider Intelligence access through your company? Check here. CHARTS OF THE WEEK Ad avoidance is on the rise — so brands are looking for ways to maximize their time in front of consumers. Mobile account opening eligibility is climbing worldwide. US home healthcare spending is outpacing growth in all other care types. Business Insider Intelligence Daily is a free newsletter highlighting topics the Business Insider Intelligence research team finds interesting. Published around 5pm ET Monday through Friday. BECOME A MEMBER You can gain access to everything Business Insider Intelligence produces - ALL of our extensive research reports, newsletters, and data - when you claim your Business Insider Intelligence PREMIUM pass. 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