Monzo adds open banking-enabled money transfer feature

This story was delivered to Insider Intelligence Banking Briefing subscribers earlier this morning. Insider Intelligence publishes hundreds of research reports, charts, and forecasts on the Banking industry with the Banking Briefing. You can learn more about subscribing here. The UK-based neobank is piloting an open banking-enabled feature that allows users to transfer money from their accounts at other banks within the Monzo app, per AltFi. Test participants can transfer funds between Monzo and different banks without needing their login information for the other banks, by selecting a bank from a list in the Monzo app and specifying the transfer amount. This marks Monzo’s first open banking-based feature that it has… Read More

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Netflix will surge 32% to record highs as app download data points to strong subscriber growth, Goldman says (NFLX)

Strong app download trends suggest Netflix is on the verge of reporting a blockbuster second quarter earnings report, according to Goldman Sachs. In a note published on Friday, Goldman raised its Netflix price target to $670, representing upside potential of 32% from Thursday’s close. The firm said COVID-19 continues to accelerate the trend towards video streaming services, and Netflix is a prime beneficiary of that trend. Goldman believes Netflix could add at least 12.5 million total net paid subscribers in the second quarter, which would be well ahead of Netflix’s guidance of 7.5 million. Visit Business Insider’s homepage for more stories. Strong app download trends suggest that Netflix could blow… Read More

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Meet the fintech that nabbed $50 million in funding from Alphabet, where customers text it money questions and choose what they pay

Albert, a personal-finance app that allows users to text questions to a team of human financial experts, is trying to stand out in a competitive, crowded field of consumer finance-focused startups. Albert’s business model is subscription-based, a rarity among upstart personal finance apps, and offers an unusual fee structure: pay what you’d like, between $4 and $14 per month. The fintech, which was founded in 2015 and launched the following year, last raised a $50 million Series B round that closed in December 2019 led by CapitalG, Google parent Alphabet’s private-equity arm. Visit Business Insider’s homepage for more stories. Instead of turning to your most money-savvy friend with your burning… Read More

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Oil’s worst turbulence since ‘Black April’ has passed, the IEA says, even as coronavirus cases surge and inventories grow

The worst of the oil market downturn from the coronavirus pandemic has passed, according to the International Energy Agency. That outlook comes despite a resurgence in coronavirus cases and a massive crude oil inventory build-up. The IEA said reimpositions of lockdowns in North and Latin America have been “casting a shadow” over its outlook for the second half of 2020, when it expects global oil demand to be down by only 5.1 million barrels a day. The oil market has made some headway since “Black April,” when prices turned negative for the first time. Visit Business Insider’s homepage for more stories. The worst of demand destruction for oil has passed… Read More

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Inside Peacock’s marketing pivot amid a pandemic and postponed Summer Olympics — and how its ad push compares to rival streaming services

The top marketers at NBCUniversal’s Peacock told Business Insider how they adapted their launch campaign after the Tokyo Olympics — the tentpole event the launch was tied to — was postponed. With the Summer Olympics postponed, NBCU’s footprint rallied around the launch of Peacock throughout the summer, and the company leaned into shows like “Downton Abbey,” “Parks and Rec,” and “Battlestar Galactica” to promote the service on social media. “It allowed the entire organization, top to bottom, across every single broadcast network, cable network, and digital platform, to singularly focus on this moment,” said Alexandra Shapiro, who oversees brand marketing and strategy for Peacock. Data from MediaRadar showed how the… Read More

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Reporter tests positive for the coronavirus after attending two White House press briefings with Kayleigh McEnany this week

A reporter tested positive for the coronavirus after attending two White House briefings this week, the White House Correspondents’ Association announced on Thursday. WHCA president Jonathan Karl said the reporter, who he did not name, attended briefings on July 6 and July 8 and wore a mask for the entirety of the time they were inside the White House complex. Karl added that the reporter is asymptomatic, and the WHCA is contacting individuals who the person believes they came in “closer contact” with. Many White House staffers, including those who attend the briefings, do not wear masks or social distance while at work, despite the Centers for Disease Control and… Read More

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