New York continues to hold the No. 2 spot for venture capital dollars, beating Massachusetts for the second consecutive quarter, according to New York Daily News. Of course, California tops the list, and New York had long beat its northern competitor in tech deals. Now it’s whooping Massachusetts in all venture capital deals, scoring 83 deals in Q2, compared with 75 for Massachusetts. Recent biggies include Etsy, Moda Operandi and 10gen.
Nationally, VC is hot again, clocking 812 deals that received $8.1 billion in funding in the three months from April to June – the best quarter since the dot-com boom and 37 percent more funding when compared with the prior quarter.
BofA swung to a Q2 profit on lower expenses and an improved mortgage business. [NY Times]
Goldman’s Q2 profits fell 11 percent and is likely to cut a couple hundred jobs by year’s end. [WSJ]
Credit Suisse Q2 profit rose 2.6 percent and announced plans to boost capital. [Financial Times]
BlackRock tested its bond-trading platform, miffing traders at banks. [WSJ]
OppenheimerFunds will buy SteelPathCapital, which has $2.6 billion in asset. [Investment News]
HSBC’s compliance chief announced his departure amid a Senate apology. [Telegraph]
KB Financial bid on ING’s South Korean Life and may try to take over Woori Finance Holdings. [Bloomberg]
Blackstone and KKR plan funds in China. [Reuters]
Charles Schwab and TD Ameritrade see individual investor business lagging. [Investment News]
Report reveals Vatican bank lacks in management and transparency. [Telegraph]
MBA admissions interviews gone really, really bad. [Businessweek]