President-elect Donald Trump's inauguration on January 20 coincides with the first day of Davos, an annual gathering of the world's business and politics elite in Davos, Switzerland, held by the World Economic Forum.
Those invited to both must now decide: Do they miss potential face time with the incoming president and members of his inner circle, or skip a day of networking with political leaders and business titans from around the globe?
Trump's swearing-in begins at noon ET on Monday.
The first item on the agenda at Davos, titled "First Impressions: Inauguration Day," starts at 3 p.m. local time Monday. (Davos is six hours ahead of Washington, DC.) Later on Monday, an awards ceremony begins at 6 p.m. Davos time, followed by an open forum and an opening concert, both at 6:30 p.m. Given the time difference, you couldn't possibly attend both Trump's inauguration and Davos Day 1 in person β even with a private jet.
Attending the inauguration in addition to making a donation could be a savvy business move. Trump was a vocal critic of Big Tech in his first term, so those firms and their execs could benefit from maneuvering to be in his good graces when he retakes the Oval Office.
Big donations to presidential inauguration funds typically come with exclusive perks, like seats for the inaugural address or entry to black-tie balls or other events.
Donors who gave $1 million towards the fund were supposed to receive six tickets apiece to six different events, including Trump's swearing-in and a January 19 "candlelight dinner" with Trump and his wife, Melania, The New York Times reported, citing documents on the matter. Some big donors, however, may no longer receive VIP tickets as some events have already reached capacity, according to the report.
While it will be come more clear who opted for a trip to D.C. on Monday, there are some CEOs that seem likely to attend Trump's inauguration.
Although I still like whey protein powder, collagen is my new favorite protein booster.
My morning brew is sacred. However, I know drinking it first thing on an empty stomach isn't great.
Luckily, my social-media feeds have been full of "proffee" (protein coffee) recipes lately, and it turns out the internet trend actually has some merit.
"Consuming protein along with coffee can help to stabilize blood-sugar levels," registered dietitian Bianca Coats told Business Insider. "Protein will help to slow down the absorption of simple carbohydrates and caffeine into the bloodstream and reduce the likelihood of a crash."
According to nutrition coach Adrianne M. Ortiz, we should be getting about 20 to 30 grams of protein within the first half an hour of waking up.
I knew I wanted to find a go-to way to add protein to my morning cup of Joe, so I tested five different ingredients to see which one was best.
Here's how they stacked up.
Flavored protein powder was an easy place to start.
I regularly use vanilla protein powder, so this wasn't new for me.
Meredith Schneider
I've used vanilla protein powder to sweeten and add protein to my coffee before, so I knew what to expect with this one. Although I've tried plant-based options, I usually go for whey because I think it blends more easily into liquids.
For this recipe, I used 8 ounces of freshly brewed espresso, a serving of Nutrisystem's Prosync sweet vanilla shake mix (15 grams of protein), ice, and a splash of maple syrup.
I really enjoyed how it tasted, and using a simple flavor like vanilla or chocolate will allow me to change up the recipe when I want to. Unfortunately, the powder did become a little gritty after a couple of minutes.
PB2 is a nice option for a low-sugar protein boost.
PB2 is a form of powdered peanut butter.
Meredith Schneider
I've had some incredible Reese's-inspired lattes and love adding peanut butter to coffee-flavored protein shakes, so I was excited to try adding PB2 (a powdered peanut-butter alternative) to my coffee.
It notably has less fat and fewer calories than the spread. A 2-tablespoon serving of peanut butter has 190 calories, but the same serving of PB2 only has 45.
I brewed two espresso shots and added a serving of PB2, some 2% milk, and honey to taste.
If I were to recreate it, I'd use chocolate milk or add chocolate syrup β this recipe definitely needed more sweetener for my tastes.
Egg whites make for a fluffier protein option.
I need to get better at whipping egg whites before I add them to my coffee again.
Meredith Schneider
Egg whites were probably the most intimidating protein-boost option.
I whipped ΒΌ cup of egg whites (3.6 grams of protein) and used them as a base for ΒΌ cup of espresso and a splash of maple-flavored oat-milk creamer.
I don't think I whipped my egg whites correctly β they weren't quite as fluffy as they should've been β which made the whole experience a little less pleasant.
But I loved the flavor of this drink, so I'd definitely try it again using a stand mixer or high-speed blender to get really fluffy whites.
Cottage cheese didn't work out so well for me.
The cottage cheese separated a little in my coffee.
Meredith Schneider
I probably wouldn't have thought of it myself, but cottage cheese can be a great protein addition to coffee. I blended a ΒΌ-cup serving of low-fat cottage cheese with a cup of caramel-flavored coffee and a dash of oat milk.
The drink tasted good, but the cottage cheese separated pretty quickly, which was a little unpleasant.
I probably won't use it in regular coffee again, but I'm open to adding a serving of cottage cheese to protein shakes or frozen, blended coffee beverages.
Collagen has the benefit of being unflavored.
The Vital Proteins collagen powder I used was unflavored.
Meredith Schneider
Collagen is naturally found in animals, including humans. But according to Ortiz, our collagen levels tend to diminish after 30.
Powdered collagen peptides typically have about 18 grams of protein per serving and are often flavorless. However, it's important to note that collagen isn't a complete protein source because it doesn't contain all the essential amino acids our body needs. It's best to pair it with other foods and complete protein sources throughout the day.
I added two scoops of Vital Proteins unflavored collagen peptides to 6 ounces of caramel-flavored coffee and topped it off with some maple-flavored oat-milk creamer.
Everyone will have their preferences, but I loved the collagen coffee.
I'm willing to try a number of these protein-packed coffee add-ins again.
Meredith Schneider
I don't think it's essential to add protein to your coffee β although it's smart to pair your regular cup with a balanced snack or meal to avoid a crash. But I had fun trying the different add-ins.
Collagen powder is my new favorite way to add protein to my morning coffee because it doesn't impact the flavor or drinking experience at all.
I'll keep using scoops of chocolate or vanilla whey protein powder when I want a sweeter cup of Joe, and I'm excited to try most of these recipes again with a few tweaks.
This story was originally published on July 23, 2024, and most recently updated on January 15, 2025.
JPMorgan Chase and Goldman Sachs had blockbuster performance numbers for the end of 2024.
JPMorgan's profit rose 50%; Goldman's profit jumped 105%, led by higher investment-banking fees.
Here's what it could mean for hiring across Wall Street in 2025.
Big banks posted blowout fourth-quarter earnings on Wednesday, led by a growing appetite for corporate financing, institutional trading, and dealmaking βΒ trends that could boost hiring in 2025.
JPMorgan Chase kicked off Wall Street's earnings season by reporting a 50% increase in profits, led by a 49% increase in investment-banking revenue over last year's fourth quarter, and double-digit growth in trading revenue. Goldman Sachs, meanwhile, said profit for the three months that ended on December 31 rose 105%, driven by demand for corporate dealmaking and capital raising. And Citigroup showed a 35% increase in investment-banking revenue for the fourth quarter from a year ago.
The robust results follow several years of sagging demand for Wall Street's bread-and-butter businesses, layoffs, lower bonuses, and an overall muted environment for job hopping.
Now, the strong 2024 performances, particularly in trading, mean that annual bonuses could be as much as 35% higher from a year ago. Banks have started to share the bonus numbers with employees, as Business Insider reported last week.
More broadly, Wall Street headhunters say that hiring has been picking up in select areas in recent months, including junior-banking roles and back-office tech jobs. They expect the shift to continue in 2025.
"The 45% surge in Goldman's profits and CEO David Solomon's bullish outlook on M&A signals a notable shift in the hiring market," said Meridith Dennes, managing partner at Prospect Rock Partners recruiting firm. "Banks that aggressively downsized during the 2022 to 2023 slowdown are now selectively rebuilding their deal teams."
Of course, working on Wall Street could also get harder in 2025. The industry's notoriously long hours could intensify as demand for dealmaking and capital raising continues. At the same time, work-from-home options are shrinking, with JPMorgan last week telling employees on a hybrid schedule to return to the office five days a week starting in March.
Here are 4 trends in financial-industry hiring that could spur Wall Street job growth in 2025:
Dealmakers
Following several years of muted dealmaking, demand for mergers and acquisitions has been picking up in recent months, driven by lower borrowing costs as interest rates decline. The M&A streak is expected to continue in 2025, aided by a more business-friendly regulatory regime under President-elect Donald Trump.
The uptick is already having an effect on hiring. As BI recently reported, John Weinberg, the chairman and CEO of the elite boutique investment bank Evercore, said in December that he's been spending an unusual amount of time on year-end hiring.
"Most of the time, you don't really do much recruiting in November or December," he said at a Goldman Sachs conference in New York. "If you could see my schedule, you'd see that virtually every day I am speaking with and recruiting" new talent, he said.
As for the jobs outlook, he said: "You could probably anticipate that our recruiting efforts will increase, not decrease."
Recruiters in December told BI that they have seen surging demand for M&A bankers in industries viewed as hot for deals, including tech, healthcare, restructuring, industrials, consumer retail, and financial institutions βΒ a trend they expect to continue this year.
Junior bankers
Demand for junior investment-banking talent has also been picking up. Dennes, the headhunter, said that she is seeing especially strong demand for what she referred to as "the seasoned associate," but also at the vice-president level, who tend to sit in the middle of the investment-banking pecking order.
As BI reported in October, JPMorgan Chase ramped up off-cycle hiring for junior investment bankers late last year, according to people familiar with the bank's recruitment efforts and to its online jobs board. At the time of the report, a JPMorgan executive told BI that the bank was hiring across all levels of investment banking amid a bump in deal flow.
Whether the JPMorgan hiring boost will continue in 2025, however, remains to be seen. On Wednesday, the bank's chief financial officer, Jeremy Barnum, told investors that JPMorgan intends to keep headcount flat this year, following a 2% rise in staffing in 2024. That included a 3% rise in its asset- and wealth-management unit, according to company filings.
Goldman Sachs' careers portal, meanwhile, displays 15 open job listings for junior bankers in New York, London, and San Francisco, namely at the analyst and associate levels. In January, one open role called for an associate to cover deals for financial institutions and asset-management clients, while another sought an IB associate to focus on the entertainment sector. A third associate position was focused on executing general mergers and acquisitions.
IT jobs
Headhunters have said that an array of financial-services firms, from banks to hedge funds, are expected to boost tech hiring as they explore and build new artificial intelligence capabilities.
In July, JPMorgan's CEO, Jamie Dimon, said he expects to add thousands of AI-related jobs in the next few years. Hedge funds and proprietary-trading firms have also been getting into the act, shelling out big bucks, as much as $350,000 in annual salaries, to snag coveted AI researchers and engineers.
Some private-equity firms, meanwhile, have been paying up to $2 million, including base salary and bonus,for so-called AI operating executives, recruiters told BI last year.
So-called private credit has been on a roll in recent years as more asset managers, like Apollo and Blackstone, pick up lending that banks increasingly deem too risky for their balance sheets.
Plus, there are signs that demand for nonbank loans will only intensify in 2025, as demand for corporate capital raising increases, including for M&A.
On Monday, Goldman Sachs announced a new structure to capitalize on growing demand for financing. Its new Capital Solutions Group is geared to provide alternative sources of lending to corporate clients as well as financial sponsors.
Earlier this month, Bloomberg reported that hedge fund Point72 hired Todd Hirsch, a former Blackstone senior managing director, to build out its new private-credit business.
Goldman on Wednesday reported record results in fixed-income and equities financing, which includes capital raising on behalf of clients. Goldman's CEO referred to financing a "large strategic opportunity" for the bank, thanks to what he described as "important structural trends currently taking place in finance" including the emergence of private credit.
Israel and Hamas have agreed to a ceasefire-hostage deal.
MENAHEM KAHANA/AFP via Getty Images
Israel and Hamas have reached an agreement on a cease-fire deal meant to halt 15 months of fighting.
A US lawmaker confirmed on Wednesday that there is an agreement in place.
Hamas and other militant groups kidnapped over 250 people in Israel on October 7, 2023.
After more than 15 months of fighting and tens of thousands dead, Israel and Hamas have reached an agreement on a cease-fire, a US lawmaker announced on Wednesday, citing the Biden administration.
The deal, a major breakthrough in the Middle East, is meant to halt the bloodshed and facilitate the release of some of the remaining hostages.
"I have just been informed by the administration that a deal has been agreed to," New York Sen. Chuck Schumer told lawmakers at the Capitol. "It is welcome news that there is an agreement that will free many of the hostages."
Other reports have also said a deal has been reached, citing Hamas, American officials, and sources inside the Israeli government.
On October 7, 2023, as part of a Hamas-led terror attack against Israel, Hamas and other militants kidnapped 251 people from Israel. Around 1,200 were killed across the country.
Hamas and its allies still hold 98 hostages, an Israeli government spokesperson said on Tuesday, though at least 34 of them are thought to have died in captivity.
The deal, which is yet to be formally announced, is set to include multiple phases. Israeli Prime Minister Benjamin Netanyahu's office said, "Several items in the framework have yet to be finalized; we hope that the details will be finalized tonight."
The first stage of the agreement is expected to include 33 hostages β most of whom are alive β released on "humanitarian" grounds, the Israeli spokesperson told reporters at a briefing. This will consist of women, children, the elderly, and hostages who are sick.
When asked how many jailed Palestinians Israel is willing to release in exchange, the spokesperson said that the country "is prepared to pay a heavy price, in the hundreds."
The Israeli military confirmed that it is preparing for the return of the hostages.
To date, 117 hostages have been returned alive to Israel, including 105 freed as part of a prisoner exchange in November 2023.
The cease-fire deal intends to put a halt to the ongoing conflict, which has seen large areas of Gaza destroyed and has left the militant group battered. The Hamas-run health ministry says Israel's military offensive in Gaza has killed more than 46,000 people.
Negotiations for a cease-fire deal have been ongoing for many months, but news that Israel and Hamas were close to reaching an agreement emerged earlier this week, hinting that, at last, there could be movement.
The deal comes in the final days of the Biden administration, which had been closely involved in negotiations to get a framework approved.
President-elect Donald Trump said his victory in November directly contributed to the deal coming to fruition. "We have achieved so much without even being in the White House," he wrote in a post on his Truth Social platform.
