JPMorgan Chase has rolled out a generative artificial intelligence assistant to tens of thousands of its employees in recent weeks, the initial phase of a broader plan to inject the technology throughout the sprawling financial giant.The program, called LLM Suite, is already available to more than 60,000 employees, helping them...
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Jeremy Siegel backs off on calls for the Fed to do an emergency interest rate cut
Jeremy SiegelScott Mlyn | CNBC Wharton School Professor Jeremy Siegel no longer thinks it's vital for the Federal Reserve to implement an emergency interest rate reduction, but still wants policymakers to cut quickly and aggressively.Siegel, chief economist at WisdomTree, caused a stir Monday when he told CNBC that Fed Chair...
Robinhood says there will be no 24-hour trading on Monday due to issue at third-party venue
Spencer Platt | Getty ImagesBrokerage firm Robinhood announced on Monday evening that it would not offer overnight trading due to an issue with its execution venue.The company said in a post on social media site X that Blue Ocean ATS, the third-party firm that Robinhood works with for round-the-clock trading,...
Italy looks like fertile ground for a mega merger deal in banking
Banking analysts assess the possibility of a banking merger in Italy.Bloomberg | Bloomberg | Getty ImagesMILAN, Italy โ European policymakers have longed for bigger banks across the continent.And Italy might be about to give them their wish with a bumper round of M&A, according to analysts.Years after a sovereign debt...
No sign of U.S. recession in freight demand, CEO of shipping giant Maersk says
Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession as freight demand remains robust, the company's chief executive said Wednesday."We've seen in the last couple of years, actually, [the shipping container] market remaining surprisingly resilient to all the fear of recessions that...