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Morgan Stanley kicks off generative AI era on Wall Street with assistant for financial advisors
Shannon Stapleton | Reuters Morgan Stanley has officially kicked off the generative AI era on Wall Street. The bank plans to announce Monday that the assistant it created with OpenAI’s latest generative AI software is “fully live” for all financial advisors and their support staff, according to a memo obtained by CNBC. “Financial advisors will […]
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JPMorgan Chase to present on the net payroll solutions as it measures up battle with Square, PayPal
Co-founders Eddie Kim, Josh Reeves, and Tomer London of fintech startup Gusto, which handles payroll products and services for modest corporations. Courtesy: Kelly Boynton | Gusto JPMorgan Chase is stepping up its charm to compact enterprise shoppers by arranging to offer you digital payroll processing, CNBC has learned. The bank has picked San Francisco-dependent fintech […]
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Goldman Sachs is in the spotlight as tech firms test IPO market
David Solomon, Goldman Sachs interview with David Faber, September 7, 2023. CNBC The return of large tech IPOs this week after a prolonged drought isn’t just a test of investors’ appetite for risky new offerings — it’s a key moment for Wall Street’s top advisor, Goldman Sachs. Chip designer Arm is expected to begin trading […]
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Jamie Dimon states it can be a ‘huge mistake’ to assume financial state will boom with so many dangers out there
Jamie Dimon, chairman and main government officer of JPMorgan Chase & Co., speaks through the Institute of Intercontinental Finance (IIF) annual membership meeting in Washington, DC, US, on Thursday, Oct. 13, 2022. Ting Shen | Bloomberg | Getty Pictures JPMorgan Chase CEO Jamie Dimon explained Monday that when the U.S. overall economy is carrying out […]
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Goldman Sachs CEO David Solomon sees Wall Street rebound if tech IPOs perform
The upcoming spate of tech IPOs could help kickstart muted capital markets, Goldman Sachs CEO David Solomon told CNBC’s David Faber. Firms including chip designer Arm and Instacart have filed to go public, and companies that are mulling listings will watch how those IPOs go, Solomon said Thursday during the interview. “Over the course of […]
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Regional banks face another hit as regulators force them to raise debt levels
Martin Gruenberg, Chair of the Federal Deposit Insurance Corporation (FDIC), testifies about recent bank failures during a US Senate Committee on Banking, House and Urban Affairs hearing on Capitol Hill in Washington, DC, May 18, 2023. Saul Loeb | AFP | Getty Images U.S. regulators on Tuesday unveiled plans to force regional banks to issue […]
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Goldman Sachs unloads one more small business obtained less than CEO David Solomon
David Solomon (centre), Main Govt Officer of Goldman Sachs during an party attended by Primary Minister Rishi Sunak at the Company Roundtable during his take a look at to Washington DC in the US on June 8, 2023 in Washington, DC. Niall Carson | WPA Pool | Getty Illustrations or photos Goldman Sachs explained Monday […]
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Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase
A Fitch Ratings analyst warned that the U.S. banking industry has inched closer to another source of turbulence — the risk of sweeping rating downgrades on dozens of U.S. banks that could even include the likes of JPMorgan Chase. The ratings agency cut its assessment of the industry’s health in June, a move that analyst […]
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Lloyd Blankfein says he ‘can’t imagine’ returning to Goldman Sachs
Former Goldman Sachs CEO Lloyd Blankfein said he couldn’t imagine returning to his old firm, disputing a news report that said Blankfein offered to return in some capacity. The New York Times piece “misquoted” Blankfein, the former Goldman CEO told CNBC Monday in a phone conversation. The Times reported Friday that Blankfein told his successor, […]
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These charts show what has Moody’s worried about regional banks including U.S. Bank and Fifth Third
The Moody’s ratings downgrades and outlook warnings on a swath of U.S. banks this week show that the industry still faces pressure after the collapse of Silicon Valley Bank. Concern over the sector had waned after second-quarter results showed most banks stabilized deposit levels following steeper losses during the March regional banking crisis. But a […]
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