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Business News

Location American Business News for 12 January 2024
Euphoria over Bitcoin ETF as trading volume surges past $4B on just the first day The ETF launches lifted the price of Bitcoin up to its highest level since December 2021.
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CVS closing dozens of Target pharmacies in latest cost-cutting move The pharmacy closures will begin in February and be completed by the end of April, CVS said.
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Twitch Chief Executive Dan Clancy criticized employees for leaking news to the press about the layoffs of over 500 employees this week.
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European bank executives say the industry is likely to handle the shift with resilience, though analysts expect last year's big earnings boost will lose steam in 2024.
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'Entitled' Gen Zers unprepared for workforce, experts say -- here's why 'Gen Z is not a lazy generation, but it is an entitled generation,' one labor expert explained
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JPMorgan Chase's net income drops but beats analyst estimates as the U.S. economy 'remains resilient' The bank's $2.9 billion special assessment for the FDIC's bailout of failed banks in 2023 took a bite out of its profits.
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Wells Fargo set aside a lot more money for potential loan losses, stock falls Wells Fargo's stock dropped Friday, after the California-based bank set aside a lot more money for potential losses on loans, and reported fourth-quarter profit that rose just in line with forecasts.
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Morgan Stanley to Pay $249 Million in Block Trading Investigation Federal prosecutors found at least one employee at the Wall Street firm had committed deceptive practices in handling trades of large blocks of stock from 2018 to 2021.
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Citigroup CEO Jane Fraser announced plans for a sweeping corporate reorganization in September after previous efforts failed to boost the bank's share price.
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10 of the most beautiful places in the US, according to someone who's been to all 50 states I've traveled to all 50 states and most US national parks. Seward, Alaska, and Sedona, Arizona are two of the most beautiful places I've visited.
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Here Are the Coins that Will Benefit the Most from the Bitcoin ETF Approval Source: DALL·E Some cryptocurrencies are likely to benefit more than others following the SEC’s spot Bitcoin ETF approval in the USA. Spot Bitcoin ETF approval give non-web3 savvy retail and institutional investors ea...
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Discord cuts 17% of employees to 'sharpen its focus'

Venture Beat - 12 Jan 2024 01:41
Discord announced that it's laying off around 170 workers as part of its efforts to improve its efficiency.
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Is buying a used Tesla from Hertz a good deal? Here's what to know. The rental-car company is selling the EVs for a "surprisingly reasonable" price -- with one possible catch. Here's what you need to know about buying one.
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International Flavors & Fragrances Taps Fyrwald to Succeed Clyburn as Next CEO Fyrwald most recently served as CEO of Syngenta.
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Wells Fargo is 'still early in the cycle' as soured office loans rise The San Francisco-based bank warned for months that charge-offs were likely to start rising as some office-related loans went bad. It began to happen in the fourth quarter, which could be an omen for regional banks that ...
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Southern California's twin ports could see more freight business as shippers seek new routes away from problems at the Suez Canal and the Panama Canal.
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US supreme court to consider Starbucks case over fired pro-union workers Court agrees to consider challenge by coffee chain to judicial decision requiring it to rehire seven union activists in Tennessee The US supreme court agreed to consider a challenge by Starbucks to a judicial decision re...
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What to Do When You Lose Your Biggest (and Only) Agency Client It was my first "real" vacation since the pandemic. On the morning of day three, I got a text from the CMO of a client of mine for the past thirteen years. My only client, in fact. I managed a team of 120 people who were...
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House Financial Services Committee forms AI working group

American Banker - 12 Jan 2024 23:34
House Financial Services Committee forms AI working group Led by Congressmen French Hill and Stephen F. Lynch, the council will explore how artificial intelligence is influencing the development of new products and services, fraud prevention and other areas across the financial...
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The case has implications for what kind of relief workers can hope for in labour disputes.
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ECB Member Isabel Schnabel: Bitcoin Is 'Speculative,' 'Unlikely' to Be Purchased by the Bank Isabel Schnabel, member of the European Central Bank (ECB) executive board, has blasted bitcoin’s characteristics, stressing that it is a speculative asset unlike central bank digital currencies (CBDC) like the propose...
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President Biden stops by Pennsylvania stores to talk up his record on small business creation President Joe Biden is trying his hand at retail politics.
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