Tag: banks
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Fed staff should have known Silicon Valley Bank was vulnerable, new report finds
Fed Vice Chair for Supervision Michelle Bowman said a new report indicates the central bank’s staff missed signs ahead of Silicon Valley Bank’s 2023 failure.
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Inside India newsletter: The world’s largest real-time payments system will no longer be free for all
India’s digital payment system, which processes more than 1 million transactions every two minutes for free now, will start charging fees to merchants.
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Bank of America expects third-quarter investment banking fees to fall more than 10%; shares slide
The muted outlook from the country’s second-largest bank by assets could be an early signal that Wall Street’s AI boom might have hit turbulence.
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Anthropic walks tightrope to Nasdaq, pushing for a slowdown while pursuing $2 trillion valuation
As Anthropic meets with prospective investors ahead of its potentially historic market debut, CEO Dario Amodei is pushing for a slowdown in AI.
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Why are European banks moving gold out of United States?
The Netherlands and France have moved their gold out of US vaults. Part of the reason is fears about the reliability of the US, but equally important is the need to keep gold closer to home in the event of a crisis.
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Lil Durk: Grammy-winning US rapper acquitted in murder-for-hire trial
The Chicago rapper was arrested in 2024 and accused of involvement in a shooting that killed the cousin of rival rapper Quando Rondo.
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Fintechs conquered payments in India. Now they’re eyeing credit
Fintech companies, the driving force behind the adoption of digital payments in India, are now focusing on offering credit to the underserved population.
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Jamie Dimon joins bankers lobbying the UK ahead of its critical budget — here’s why they’re worried
Bankers are pressuring the British government ahead of its Autumn Budget, in which the newly minted leadership will lay out its fiscal plans for Britain.
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Bessent says ‘a large bank’ will be sanctioned on Monday as part of Iran strategy
U.S. Treasury Secretary Scott Bessent said that a large bank would be sanctioned next week.
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OpenAI targets work of Wall Street junior bankers with new ChatGPT for Financial Services
OpenAI launched ChatGPT for Financial Services, targeting the labor-intensive research, modeling, and pitchbook tasks traditionally handled by junior bankers.
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