JPMorgan Chase, Bank of America and Wells Fargo are boosting their financial defenses, preparing for customers to increasingly lose the ability to pay their bills. In their new Q2 2024 reports, the banks say they’re significantly increasing the amount of capital they’re holding to cover potential losses from credit card and loan insolvencies – collectively setting aside billions of dollars in emergency provisions.

JPMorgan Chase, Bank of America and Wells Fargo Quietly Brace for Customers’ Financial Fallout Amid Increasing Economic Uncertainty

The collapse of Silicon Valley Bank has sent shockwaves through the global start-up community and beyond. The bank serviced around half of all the Bay Area’s venture-backed start-ups and the majority of the region’s venture-capitalist firms. However, HSBC’s takeover of Silicon Valley Bank’s UK arm may prove a...

The HSBC Takeover of Silicon Valley Bank’s UK Arm: A Positive Development for UK Scale-ups

EB Capital, a leading Brazilian alternative investment firm, has named Guilherme Quintal as partner and head of Global Markets. Quintal, the first Latin American to serve as vice president of Private Equity at Saudi Arabia’s Public Investment Fund (PIF), brings over 15 years of global investment experience to his new role.

Brazil’s eB Capital hires former Saudi PIF executive as partner

Goldman Sachs’ chief technology officer, Atte Lahtiranta, is leaving for Citadel, Bloomberg reported Tuesday. Lahtiranta, whom Goldman hired in 2019, will run the hedge fund’s core engineering group, and be responsible for the technology on which its trading and risk functions rely, according to the wire service. Neither...

Goldman CTO to leave for Citadel: report

Rubio marks Goldman's second ETF hire from JP Morgan in recent months. Goldman Sachs Group Inc., in the midst building out its $34.6 billion ETF business, hired J.P. Morgan Chase & Co.'s Alvaro Rubio as a fixed income exchange-traded fund portfolio manager. Based in London, Rubio will be responsible for...

Goldman Sachs Hires Fixed Income PM Rubio from JPM

Colorado State

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David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

J.P. Morgan Asset Management announced on Thursday a retirement income investment leveraging a target-date fund with a guaranteed annuity payout in retirement. The firm’s SmartRetirement Lifetime Income TDF is designed to provide a stream of income payments in retirement through annuities from participating insurance companies, according to the announcement.

JP Morgan Announces Lifetime Income TDF

Wells Fargo, Morgan Stanley and Bank of America are among a group of Wall Street banks accused of bilking customers out of billions of dollars in interest payments, according to a new report. The U.S. Securities and Exchange Commission is probing the banks to determine whether they purposefully directed clients...

Wells Fargo, Morgan Stanley and Bank of America Accused of Cheating Customers Out of Billions of Dollars in Interest Payments: Report

Virginia State

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Kentucky Vibes.net

Disclaimer: This article was written with the help of A.I. software. On July 28, 2024, a TikTok video posted by Erica W., known as @tasteofmelanin on the platform, garnered significant attention after she exposed disturbing racist decorations in an Airbnb rental. The incident occurred in a rental property that Erica had booked, although the exact location remains unspecified. The video has since gone viral, prompting widespread concern and leading to the removal of the listing from Airbnb's platform.

Airbnb Listing Taken Down After Black Woman Finds Hanging Monkeys and Cotton Used As Decor

Denver, CO

In addition to collecting more than 8,000 used needles in the past year from Denver drug users, the Harm Reduction Action Center passed out 10,000 meth pipes and “snort kits,” according to a newsletter sent to its supporters Thursday. They also connected about 1,700 people to medical, mental health and substance abuse treatment.

Denver group hands out 10K meth pipes, ‘snort kits,’ connects 1,700 to treatment annually

Markets Insider

Stocks could see a 1995-like rally after the Fed cuts rates, said Wells Fargo's head of global investment strategy.

Stocks will embark on a run of gains unseen in 30 years after the Fed cuts rates, Wells Fargo strategy chief says

Herbie J Pilato

Actor Buddy Ebsen, who died at age 95 in 2003, found fame by starring in two of the most popular classic television shows in history: The Beverly Hillbillies (CBS, 1962 to 1971) and Barnaby Jones (CBS, 1973 to 1980). On the Hillbillies, he played former Tennessee country mountain-folk-turned-wealthy Beverly Hills resident Jed Clampett. On Barnaby Jones, he was one of TV's most senior, slyest, health-conscious detectives. Ebsen, however, almost became even more famous for a certain big-screen classic film in which he ultimately did not appear.

'Beverly Hillbillies" Actor Buddy Ebsen Was "Bitter" about not playing the Tin Man in 'Wizard of Oz'

Bill Ackman manages Pershing Square Capital Management, the hedge fund he founded, with roughly $10 billion in assets under management. Ackman is known for his long-term mindset, so it raised eyebrows when he cut two of his largest positions by more than 20%. Pershing Square has generated double the returns...

Billionaire Investor Bill Ackman Has 100% of His $10 Billion Portfolio in Just 9 Stocks, But There Were Seismic Changes During the Quarter

One of the most beloved Hollywood stars in the history of television, in particular, was actress Frances Bavier, who died in 1989 at age 85. The likable actress became best known for her compassionate and nurturing role as Aunt Bee on The Andy Griffith Show (CBS, 1960-1968).

Beloved 'Andy Griffith Show' Actress Frances Bavier ("Aunt Bee"): A Look Back at Her Life and Career

The Motley Fool

Bitcoin could soar in price over the next decade. But that's not the only reason billionaires are buying Bitcoin.

Billionaires Are Buying This Cryptocurrency That Could Soar 20,000%, According to MicroStrategy Executive Chairman Michael Saylor

Disclaimer: This article was written with the help of A.I. software. Meghan Markle's venture into the lifestyle space has not been met with universal acclaim, particularly from one well-known figure: Martha Stewart. Earlier this year, in March, Meghan unveiled her new lifestyle brand, American Riviera Orchard. The brand immediately drew comparisons to other celebrity wellness empires, particularly that of culinary icon Martha Stewart. However, these comparisons have reportedly struck a nerve with Stewart, who finds them both "irritating and insulting."

Meghan Markle 'Insulted' Martha Stewart as She 'Won't Hesitate to Take Her Down

MarketRealist

Nicholas Puech, who owned a 5.7% stake in the luxury brand, has claimed he has nothing left in bank.

Hermès heir promised to leave $13 billion fortune to his gardener. Now, the money is gone

Fox Business

Melinda French Gates recently said Berkshire Hathaway CEO Warren Buffett’s latest plan for what will happen to his massive fortune after his death did not come as a shock to her.

Melinda French Gates says Warren Buffett's latest will 'did not surprise me'

Jacksonville, FL

Jacksonville Today

A historic marker could be erected to honor the victims of the racist mass shooting at the Dollar General store in Jacksonville’s New Town neighborhood nearly a year ago. If approved by the Jacksonville City Council, a marker would be installed at Kings Road and Canal Street on Aug. 25, a day before the first anniversary of the shooting, when a white gunman took the lives of three Black people.

Memorial considered to honor Dollar General victims

Cathie Wood believes Bitcoin can reach as high as $3.8 million by 2030. This is unlikely and relies on some pie-in-the-sky reasoning. Bitcoin is likely to offer major returns nonetheless. That might seem like it's too good to be true, and it probably is. Ark Invest's Cathie Wood has made...

1 Top Cryptocurrency to Buy Before It Soars 6,200%, According to Cathie Wood of Ark Invest

NewsBreak

Blue Owl hires PIMCO wealth management exec

John Valtwies has been hired to lead Blue Owl Capital’s private wealth business in Australia. Valtwies joins from PIMCO, where he was a senior leader of...

Blue Owl hires PIMCO wealth management exec

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