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Welcome to Wall Street Insider, where we take you behind the scenes of the finance team's biggest scoops and deep dives from the past week. 

If you aren't yet a subscriber to Wall Street Insider, you can sign up here.

For certain corners of Wall Street, dealmaking is happening faster than ever. While M&A activity has plunged, bankers primed to help companies navigate the financial fallout, especially restructuring and debt-raising specialists, have been crushed with demand.

Alex Morrell took a look at how top bankers — known for putting in long hours curating a white-glove experience for clients — are finding they can still provide service from afar. It turns out, when you take away the time spent at airports and restaurants, and when Zoom calls can be arranged in minutes, things can move at lightning speed. 

Read the full story here: 

'Stunning efficiency': How remote dealmaking could mean a permanent lifestyle change for some bankers

Meanwhile, it's been a tale of two approaches to job cuts in recent days. On Tuesday, Airbnb CEO and cofounder Brian Chesky emailed staff about sweeping layoffs that were impacting 1,900 people, highlighting where the company will focus in the future and what exit packages employees should expect. You can read the full email here. 

Over at WeWork, things have been rolling out gradually. Meghan Morris and Dakin Campbell wrote about a leaked WeWork document that revealed a huge reorg under way for people who manage its buildings. Here's how the new structure works — and the complex process for staff to save their jobs. Alex Nicoll and Meghan also reported that Flatiron School has slashed at least 100 jobs, building on their scoop last week that WeWork started making cuts in several key departments, with IT alone losing some 200 jobs. 

Keep reading for a preview of changes in store for Bloomberg terminals, a rundown of Blackstone's giant commercial real estate business, and a look at how PIMCO stocked up with $5.5 billion for private-credit strategies since the beginning of the year.

Have a safe and healthy weekend, 

Meredith 

Inside Blackstone's massive CRE business

Blackstone is the largest commercial real-estate investor in the world, with $160 billion in investor capital. Alex Nicoll chatted with Blackstone real estate's three heads of acquisition, and its head of debt origination, to learn more about their business. 

They spoke about some of their most interesting deals, and why Blackstone's global scale and thematic investing style is a huge advantage. 

Read the full story here: 

Meet the 4 dealmakers driving Blackstone's $325 billion commercial real estate portfolio. They walked us through how they're thinking about opportunities in the downturn.

A Facebook office deal is a key test 

The coronavirus crisis has thrown into question whether tenants will ever occupy office space the same way again as companies and workforces around the world grow accustomed to remote work.

Facebook has been in negotiations for months to lease over 700,000 square feet at the Farley Building on Manhattan's West Side. The rapid expansion of tech in recent years has propelled the city's office market, and Dan Geiger spoke with real-estate execs who laid out why Facebook's deal is a key barometer. 

Read the full story here:

A blockbuster Facebook office deal is a make-or-break moment for the future of commercial real estate. 3 leasing experts lay out the stakes.

Coming soon to a terminal near you

As remote work becomes a long-term reality, a technology staple of Wall Street is in store for a makeover. Mark Flatman, global head of core terminal at Bloomberg, told Dan DeFrancesco that the financial technology giant is considering ways to revamp its ubiquitous terminal.

One particular area of focus for Flatman and his team has been screen space, as many customers aren't working with the typical four-screen display. Another area that has gotten increased attention is mobile, where usage has jumped. 

Read the full story here: 

Bloomberg is eyeing big changes to its iconic terminals to make work-from-home easier. The exec leading its strategy laid out how he's rethinking screen space and mobile features.

A new pile of cash for private credit

Industry observers expect a surge in interest in specialized credit shops that have proven to be winners in distressed situations. And Bradley Saacks revealed how PIMCO has tapped into that demand, with sources saying that the fixed-income giant has raised $5.5 billion in private-credit strategies since the beginning of the year.

PIMCO's nearly $4 billion Tactical Opportunities fund lost roughly 15% in March, but was able to avoid forced selling, sources tell Business Insider, and even added to positions in the month. That fund alone has raised $250 million — and is just one of several private-credit funds that PIMCO has raised money for.

Read the full story here: 

PIMCO has raised $5.5 billion for private-credit funds despite a hellacious March — and is telling investors it's the best opportunity in a decade

A tax break for big companies with heavy debt

But some tax experts are concerned that the tax break is too indiscriminate: In addition to helping troubled companies, they say, boosting tax deductions on interest payments is going to give a lift to companies that aren't being hurt by the pandemic, or whose problems have nothing to do with the coronavirus. 

Read the full story here:

A $13 billion tax break tucked into the coronavirus stimulus plan will save some big companies tens of millions — even if they aren't ailing. Here's how it works and who could benefit.

On the move

Dakin Campbell reported that Goldman Sachs has hired the distressed-situations and bankruptcy expert Kurt Hoffman as a managing director in a business that handles one-off loans for clients. The move comes just as industries battered by the economic shutdown are in need of emergency financing. 

Investing and hedge funds

• SoftBank's brutal treatment of WeWork founder Adam Neumann shows that it has given up any hope for Silicon Valley and it's leaving a scorched landscape in its wake
• April hedge fund performance numbers are in — here's how big names like Third Point and Renaissance turned things around after a rough March
• WeWork pain is still hitting mom and pops' mutual funds as managers like Fidelity slash valuations further
• 'Quantamental' investing is suddenly a buzzword in the hedge fund world, and we talked to the CEO of a fintech that just nabbed $8 million to help power the approach
• Steve Cohen's former right-hand man is launching his own fund. Here's everything we know about Tom Conheeney's EmeraldRidge Advisors.
• A data 'super contango' makes oil the new data, not the other way around. Here's why.

Careers

• Deloitte is delaying many of its full-time hires and switched summer internships to a 2-week online intro course. Here's everything we know.
• Jobs for thousands of young consultants are being upended. From delaying start dates to cutting internships, here's what 8 top firms are doing.
• Investment manager TIAA is offering 75% of its US employees buyouts and some could get their full salaries for nearly 2 years

Real estate 

• The CEO of real estate heavy-hitter Eastdil explains the types of deals that are must-do right now — and warns that a 'de-retailing' trend is set to accelerate
• Inside the drama over control of the iconic Chrysler Building: A real-estate tycoon and a prestigious college are renegotiating a critical $150 million deal

Fintech and e-commerce

Join the conversation about this story »

NOW WATCH: How waste is dealt with on the world's largest cruise ship

The president and his team of unelected bureaucrats have siphoned power away from the legislature.

Policymakers need to step up and do something useful — yesterday.

NAR Leadership and Staff Named Real Estate’s 2019...

The following article, BREAKING: MI Lawmakers File Lawsuit Challenging Governor’s “Improper” and “Invalid” Emergency Orders: “We’ve attempted to partner with our governor, but she’s rejected”, was first published on 100PercentFedUp.com.

In addition to crushing Michigan's economy, the governor's reckless, one-size-fits-all executive orders are harming an untold number of Michigan citizens.

Continue reading: BREAKING: MI Lawmakers File Lawsuit Challenging Governor’s “Improper” and “Invalid” Emergency Orders: “We’ve attempted to partner with our governor, but she’s rejected” ...

The following article, BREAKING: Michigan’s Radical Governor Extends Lockdown AGAIN…Only One Day After Church Leaders and MI Lawmakers File Suit Against Her, was first published on 100PercentFedUp.com.

Michigan was the first state to see protests against draconian lockdown measures by an overreaching governor. On April 15, the Michigan Conservative Coalition organized an in-vehicle protest in Lansing, MI that drew an estimated 15,000 vehicles. Since that time, several protests by Michigan workers who are being devastated by the one-size-fits-all shut down of the […]

Continue reading: BREAKING: Michigan’s Radical Governor Extends Lockdown AGAIN…Only One Day After Church Leaders and MI Lawmakers File Suit Against Her ...

Following several days of discussions, legislators reached a deal early March 25 on a $2 trillion stimulus package aimed at helping the people, states and businesses devastated by the coronavirus pandemic.

As Congress works on the next coronavirus-related relief package, the ADA and 37 other health care organizations are asking lawmakers to support nonprofit groups in those efforts.

As European asylum systems are tested again by the COVID-19 pandemic, which has injected the need for social distancing during processing and in reception centers, it appears lessons learned during the 2015-16 migration and refugee crisis may be fading. Chief among them: A number of Member States have phased out their buffer capacity. This MPI Europe commentary explores the diametrically different approaches taken to asylum during the pandemic.

Findings will be discussed during 25 February MPI Europe – SVR webinar

The increase in security was imposed by majority Republicans as a new session of the legislature opened last week.

Two Republican legislators in Colorado have introduced a bill that would enact harsh consequences, including jail time, for teachers and teachers' unions who go on strike.

The final version of the bill reduces the cost-of-living raises and increases employee contributions to their retirement, among other changes.

Two proposed bills are intended to create a housing-voucher program for full-time teachers employed by the Hawaii education department or at public charter schools.

Guest blogger Andy Saultz explains that clear goals, built-in local decisionmaking, flexibility, and community involvement are the keys to the Student Success Act's success.

Some state lawmakers said that Monday's ruling is another sign that they should ask voters whether or not the state's highest court should have a say over school spending amounts.

Florida lawmakers sent Gov. Ron DeSantis a Republican-crafted bill last week to create a new voucher program for students to attend private schools, including religious ones, using taxpayer dollars traditionally spent on public schools.

It's pretty obvious by now that many Democrats are growing increasingly uncomfortable supporting charter schools. But New Hampshire lawmakers have taken the unusual step of rejecting federal charter school grant money.

After an investigation found Illinois schools put children in "isolated timeout" for illegal reasons, a group of the state's federal lawmakers have asked U.S. Secretary of Education to ban seclusion in schools nationwide.

With measures to stem the spread of COVID-19 putting a chokehold on their filming capabilities, advertising agencies are enhancing old content with new tech, including deepfakes. Deepfakes typically blend one person's likeness, or parts thereof, with the image of another person. Ad agencies are so restricted in how they can generate content, they'll explore anything that can be computer-generated.

As the novel coronavirus disease COVID-19 continues to spread, questions have been raised about the potential impact on food supply and availability and on livelihoods around the globe.

FAO

A planned exhibition at the Portland Art Museum highlights the boldness of their work

Hanna Jovin and Adrian Morphy say many, including themselves, have been experiencing strange and vivid dreams since the pandemic began and the pair decided to illustrate and share them on social media.

Funders have been both fast and thoughtful about how to work with national and local partners to listen to needs from the field, identify best practices, and deploy resources quickly, says Celine Coggins.

Wisconsin lawmakers have established a new rural school task force to figure out how to address challenges such as declining enrollment and increasing transportation costs.

While few auto component manufacturers in the green zone are planning to restart operations, others operating in orange zones are seeking permission to resume their work again. Needless to say, those...

Hospitals were not keen earlier and considered using UV lamps in the HVAC systems only because there was a 10-15% savings in the electricity bill and not because it improved air quality and killed microbes, Kulkarni said.

Lawmakers in Hong Kong engaged in an apparent game of capture the flag, which quickly descended into a pushing, shoving and shouting match as a row over electing the chairman of a key committee intensified.
Read Full Article at RT.com

US lawmakers and experts have shown their anxiety over the US immigration agency's growing demand for "irrelevant" or earlier furnished information to decide an H-1B application, causing a delay in work visa processing, popular among the high skilled …

Director and producer Timur Bekmambetov, who is regarded as one of the inventors of the 'Screenlife' format, in which movies take place entirely on computer screens, wants to produce a film about the lockdown in the new genre

Clean industry leaders celebrated the passage of the Clean Energy Jobs Act (CEJA) by state lawmakers yesterday. The bill now goes to the governor’s desk for signature.

European Union negotiators are endorsing an accelerated overhaul of the bloc’s carbon market after the price of emission rights fell to levels that fail to deter polluters.

European Union negotiators are endorsing an accelerated overhaul of the bloc’s carbon market after the price of emission rights fell to levels that fail to deter polluters.

European Union negotiators are endorsing an accelerated overhaul of the bloc’s carbon market after the price of emission rights fell to levels that fail to deter polluters.

The guards were acting at the behest of a pro-Beijing politician whose authority to order their removal has been questioned.