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On Sunday, CVS Health agreed to buy insurance giant Aetna for $69 billion. The bankers who spent their weekend closing the transaction, the latest in a wave of megadeals, stand to earn a colossal amount of fees for their firms.
Between advising on the transaction – which could generate significant regulatory scrutiny – and arranging more than $40 billion in financing, seven banks could split more than $500 million if the deal closes. Here’s the latest:
- Investors don’t look particularly confident that the mega-deal will be approved
- CVS and Aetna used one word that should make employees nervous
- RBC: CVS buying Aetna has nothing to do with Amazon’s healthcare ambitions
- LOPEZ: If CVS can pull this off, it’ll change what millions of Americans do when they get sick
And in an interview with Business Insider, President Barack Obama’s former economic adviser Austan Goolsbee, now back at the University of Chicago, said stagnant wages represent one key factor that could prevent the Federal Reserve from continue raising interest rates in 2018 and 2019.
Bitcoin hit a new high above $11,500, as the Winklevoss twins became the first bitcoin billionaires. Cboe is racing to launch bitcoin futures trading ahead of rival CME. And a brand-new cybersecurity watchdog just shut down a $15 million cryptocurrency scam.
Lastly, go inside New York City’s most festive bar, where they spend more than $60,000 a year getting ready for Christmas.