Furthermore, the committee, which was supported by the Primary Production Committee in its review, is inviting banks to address it every six months to update it on their progress meeting the recommendations. The banks aren’t legally obliged to implement the recommendations. The Government has the power to require them to do so, and will respond
Current and former OpenAI employees plan to sell approximately $6 billion worth of shares to an investor group that includes Thrive Capital, SoftBank Group Corp. and Dragoneer Investment Group, in a deal that values the ChatGPT maker at $500 billion, according to people familiar with the matter. The talks are early and the size of
Earlier this week, I had lunch with Rob Arnott, the founder of Research Affiliates and the sort of godfather of alternative stock-market indexing. I was telling him about a recent story I wrote for younger investors about how much of their portfolio they should have in ETFs versus individual stocks. The takeaway from the story,
The stock market is on a record-breaking rally, but investors are approaching some big hurdles they’ll have to clear through the rest of this year if they want the gains to keep coming. Strategists at HSBC Global said on Monday that they see a handful of key risks facing stock prices through the second half
Palmer Luckey, CEO of defense tech giant Anduril Industries, is quietly building a new digital banking venture — and we now know more about who will be helping him. The startup, Erebor, is raising $225 million at a $2 billion valuation, Business Insider reported in July. It has backing from Peter Thiel’s Founders Fund and
Two weekends a year, Comfort Zone Camp comes to Massachusetts. Dozens of kids took part in June on Cape Cod.Senior regional director Krista Koppe said the next weekend held locally will be in September.”We provide weekend grief camps where kids get to learn how to cope and heal after a family member has died,” she
A Business Insider analysis of more than a decade’s worth of executive compensation data suggests that some corporate leaders could be enriching themselves by timing market-moving announcements around scheduled stock options grant dates. Stock options give an employee the right to buy company shares at a fixed “strike” price, normally set on the day the
NEW YORK — More Klarna customers are having trouble repaying their “buy now, pay later” loans, the short-term lender said this week. The disclosure corresponded with reports by lending platforms Bankrate and LendingTree, which cited an increasing share of all “buy now, pay later” users saying they had fallen behind on payments. The late or missed installments
Remember the inverted yield curve? Buzz around the recession indicator, which has preceded every economic downturn since the 1960s, has died out over the last few years. As the Federal Reserve hiked interest rates in 2022, long-end Treasury rates dipped below yields on the short end, sparking fears about the economy’s health. But a recession
Erebor Says Palmer Luckey’s “Political Network” Will Help With Regulators
Anduril founder Palmer Luckey’s new digital bank, Erebor, told prospective investors in a fundraising memo that it expects federal banking regulators to approve its plans by late 2025 — a speedy timeline that it says is possible because of Luckey’s “political network” and the bank’s close ties to regulators. The memo said the bank anticipated