New York-based AI startup Mosaic is trying to create a new kind of Wall Street: one with humane hours, where all-nighters no longer need to exist. Mosaic has created software that does the grunt work of building financial models — a laborious task with complicated calculations that, for eons, has been done by a junior banker. … Read more
A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network Zelle, in violation of consumer financial laws. In the federal civil complaint, the Consumer Financial Protection Bureau asserts that the banks rushed to … Read more
In the competitive and fast-paced world of law, junior lawyers in London face an intense work culture as they are asked to clock in 70-hour work weeks to justify their impressive salaries. Many trainees report feeling as though they “haven’t seen sunlight in months” due to the relentless schedules required by some top law firms. … Read more
With one of the biggest booths at the CIIE’s Intelligent Industry & Information Technology section, Samsung featured its GDDR7 chip, touted as one of the world’s most advanced memory products for graphics processing, as well as the HBM3E, which is designed for high-performance computing applications and artificial intelligence (AI) development projects. SK Hynix, meanwhile, showcased … Read more
Leo Lukenas III, a former Green Beret who made the challenging transition to investment banking, tragically passed away in May at just 35 years old. Lukenas, who had been working 100-hour weeks at Bank of America (BofA), died from “acute coronary artery thrombus”—a fatal blood clot in the heart. His death has sparked outrage over … Read more
On the face of it, Wall Street seems to like Bank of America CEO Brian Moynihan. Last week, the nation’s second-biggest bank said its earnings fell less than expected, and the media portrayed it as a victory. The stock went up. Ask analysts and investors, and there’s a vague consensus: Hey, the CEO has been … Read more
Brian Moynihan has his hands full running Bank of America, the nation’s second largest lender, which is why he raised some eyebrows in July when he took on the volunteer position as chancellor of the Corporation of Brown University, the governing body of his alma mater. Those eyebrows got even wider when Brown took idiotic wokeness … Read more
In response to the tragic death of 35-year-old associate Leo Lukenas III, JPMorgan Chase and Bank of America have announced significant changes to work hours for their junior employees. Lukenas, a former Green Beret and banker, was reportedly working up to 100 hours per week before his untimely death. His case has shed light on … Read more
An 80-hour workweek means working from 8:30 a.m. to 10 p.m. six days a week — not the norm for most Americans, who log an average of 34 hours per week. But for some junior bankers on Wall Street, an 80-hour week maximum workweek will be a relief. JPMorgan Chase is now instituting a limit … Read more
Known as “underconsumption core”, it spotlights living sustainably and using what you have, a reversal of the excess and wealth that dominates ad-heavy Instagram and TikTok. Shoppers emptying shelves of Stanley cups after the tumblers go viral on TikTok. Photo: Instagram/@stanleytumbler “When you get 300 videos on TikTok about people who have 30 Stanley cups, … Read more
