Bank of America clients are shelling out far more and which is supporting U.S. work, CEO claims

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The bank’s prospects boosted expending by 8% in the first 3 months of this yr compared with the year-earlier period, Moynihan stated on Tuesday.
“They are spending on factors frankly which drive work, this means they are spending on encounters at amusement parks and theaters or places to eat or outside the house concert events,” Moynihan said.
Moynihan reiterated that his bank’s economists see a mild recession in the next 50 % of this year.

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Finance

JPMorgan’s asset management will no longer use controversial proxy advisors for shareholder votes

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Key Points JPMorgan said its asset management unit is fully eliminating the use of proxy advisors. The firm will instead use artificial intelligence to aggregate and analyze proxy data. Source

Ryan Cohen could be in for a big payday, but he has to grow meme darling GameStop to 0 billion

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Ryan Cohen could be in for a big payday, but he has to grow meme darling GameStop to $100 billion

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GameStop Chairman Ryan Cohen. CNBC GameStop has laid out a a massive, all-or-nothing equity incentive for Chairman and CEO Ryan Cohen that will only pay out if the video game retailer’s stock and profits soar to levels far beyond anything it has achieved to date. The board of GameStop granted Cohen performance-based stock options tied […]

Finance

Stocks making the biggest moves premarket: Mobileye, GameStop, Chevron & more

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Check out the companies making headlines before the bell: Mobileye — The self-driving systems stock jumped about 11% after the company said it would buy humanoid robot maker Mentee for $900 million. GameStop — Shares rose 2% after the company unveiled its compensation package for CEO Ryan Cohen that included objectives to grow the videogame […]