Tag: banks
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Bank of America spends $250 million a year on GLP-1 drugs for its employees, CEO says
Employers have grappled with soaring demand for GLP-1 drugs such as Ozempic and Wegovy, which can cost thousands of dollars per patient annually.
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Situational Awareness hedge fund meltdown was a warning shot for leveraged markets, BofA CEO says
Bank of America was among the prime brokers for the hedge fund, which is run by Leopold Aschenbrenner.
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HSBC pretax profit beats estimates, boosted by higher net interest income and fees
Skip NavigationMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenu HSBC’s revenue gained 16%, year on year, exceeding estimates. The lender’s second-quarter profit before tax rose to $10.1 billion, down
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Visa to buy cybersecurity firm BioCatch for $2.4 billion amid surge in AI-powered scams
It is also the latest move by Visa to expand its value-added services business, which has become one of the company’s fastest-growing divisions.
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Capital One says it closed Trump Organization’s accounts after anti-money laundering probe
The disclosure marks the first time a bank has formally tied money-laundering concerns to U.S. President Donald Trump’s family business.
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Goldman traders are on pace for a record year. A close-up look at how they’re doing it
In a new interview with CNBC, a Goldman exec breaks down what’s driving stocks, where markets are headed, and how the bank’s equities desk fuels its growth.
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Fintech broker Clear Street offers investors pre-IPO access to $188 billion AI giant Databricks
Fintech brokerage Clear Street is launching a private markets platform, beginning with Databricks stakes, to give investors more access to late-stage startups.
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How Leopold Aschenbrenner built a $45 billion AI hedge fund — and lost most of it in days
Leopold Aschenbrenner, a former OpenAI researcher-turned-hedge fund manager, saw a dramatic decline this week in his AI-focused fund, Situational Awareness.
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US Treasury informed banks that it may intervene in yen, source says
July 31 : The U.S. Treasury has informed a number of banks that it may intervene in the yen market on Friday and that they should “stand ready for future action,” a source familiar with the matter told Reuters.The notice to banks, channeled through the Federal Reserve Bank of New York, comes a day after…
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Warren probes Pentagon program to hire highly paid private sector workers
Sen. Elizabeth Warren, D-Mass., said she is concerned about a Pentagon program to pay high salaries to Wall Street recruits.
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