Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female engineer named Morgan Beller.Technologyread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
The president also said he "offered to personally vouch" for Rocky's bail. Sweden, however, does not have a bail system.Politicsread more
CoinShares Chief Strategy Officer Meltem Demirors discusses Facebook's Libra project and its impact on the cryptocurrency market after testifying to the House Financial...Fast Moneyread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
Piper Jaffray and Sandler O'Neill announced a merger agreement worth $485 million on Tuesday in a combination of two smaller, but prominent Wall Street investment banks.
Piper said it will pay $350 million in cash to Sandler equity holders at the time of closing.
Piper Jaffray, which has a market value of about $1 billion, will also pay $135 million in primarily restricted stock of Piper Jaffray to Sandler O'Neill employee partners.
The combined firm will be named Piper Sandler Companies. The transaction is expected to close in January 2020.
Shares of Piper Jaffray closed down 0.88% on Tuesday.
Piper Jaffray Chief Executive Chad Abraham will continue to lead the combined company and senior managing principle at Sandler O'Neill Jimmy Dunne will become Piper Sandler's vice chariman and senior managing principal of the financial services business.
"We are excited to combine with Piper Jaffray and build on the strength of both of our businesses," Dunne said in a release. "I'm extremely proud of what we have built over the past 30 years and thrilled to have found a partner that shares our passion for the business."
Another of Sandler O'Neill's senior managing principles, Jon Doyle, will also be named vice chairman, senior managing principal and head of the financial services group of Piper Sandler.
The merger with Sandler O'Neill, which was founded in 1988, will nearly double Piper Jaffray's fixed income business revenues. The deal will also grow earnings per share more than 10% in 2020.