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Barclays CEO Jes Staley contradicts JP Morgan chief’s claim they never discussed Epstein

Jack J. Kelly Banks May 31, 2023
The former JPMorgan Chase executive and Barclays CEO Jes Staley has alleged that he communicated with JP Morgan’s chief executive, Jamie Dimon, about the convicted sex offender Jeffrey Epstein, a contradiction of Dimon’s testimony, in a lawsuit brought by the US Virgin Islands against JP ...Read More
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Former Wells Fargo exec settles SEC fraud charges, to pay $3 million

Jack J. Kelly Fraud, SEC May 31, 2023
The former head of Wells Fargo & Co’s retail bank agreed to pay a $3 million penalty to settle U.S. Securities and Exchange Commission fraud charges for misleading investors about sales practices used to inflate a performance metric, the SEC said on Tuesday. Carrie ...Read More
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Goldman Sachs is cutting jobs again amid Wall Street deals slump

Jack J. Kelly Layoff, Wall Street May 31, 2023
Goldman Sachs is preparing for its third round of layoffs since September as Wall Street firms adjust to a slump in deals activity. The company is expected to trim fewer than 250 jobs in the coming weeks, a person with knowledge of the New York-based ...Read More
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JPMorgan lays off about 1,000 former First Republic employees

Jack J. Kelly Bank Failure, Banks, Layoff May 26, 2023
JPMorgan Chase & Co. laid off about 1,000 former First Republic Bank employees Thursday, weeks after its takeover of the failed lender. The bank said about 85% of the former First Republic’s roughly 7,200 employees received full-time or transitional roles with JPMorgan. JPMorgan JPM, +0.24% said it ...Read More
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Record $279 Million Whistleblower Award Went to a Tipster on Ericsson

Jack J. Kelly Bribery, SEC, Whistleblower May 26, 2023
The record $279 million whistleblower award issued by the Securities and Exchange Commission earlier this month stemmed from a bribery case against telecommunications company Ericsson. The award from the SEC’s cash-for-tips program was related to the $1.1 billion settlement the Swedish company reached with U.S. authorities in 2019 over ...Read More
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Jeffrey Epstein once seemed to threaten to reveal an affair Bill Gates apparently had with a Russian bridge player

Jack J. Kelly Scandal May 22, 2023
The Microsoft cofounder Bill Gates had an affair around 2010, The Wall Street Journal reports, and knowledge of the relationship was used by Jeffrey Epstein in a seemingly threatening email to Gates in 2017. Epstein sent the email after multiple failed attempts to get Gates to ...Read More
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Meta fined a record $1.3 billion over EU user data transfers to the U.S.

Jack J. Kelly Data, Privacy, Regulators May 22, 2023
Meta has been fined a record 1.2 billion euros ($1.3 billion) by European privacy regulators over the transfer of EU user data to the U.S. The decision links back to a case brought by Austrian privacy campaigner Max Schrems who argued that the framework for ...Read More
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Sam Altman: CEO of OpenAI calls for US to regulate artificial intelligence

Jack J. Kelly Artificial Intelligence, ChatGPT, Regulation May 19, 2023
Sam Altman, the CEO of OpenAI, the company behind ChatGPT, testified before a US Senate committee on Tuesday about the possibilities – and pitfalls – of the new technology. In a matter of months, several AI models have entered the market. Mr Altman said ...Read More
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Morgan Stanley CEO plans to step down within the year, sparking Wall Street succession race

Jack J. Kelly Banks, CEO, Morgan Stanley, Wall Street May 19, 2023
  James Gorman said Friday he plans to resign as Morgan Stanley’s CEO within the year, setting off a succession race atop one of Wall Street’s dominant firms. The bank’s board has narrowed its CEO search to three “very strong” internal candidates, Gorman told shareholders at ...Read More
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Twitter accuses Microsoft of using its data in unauthorized ways

Jack J. Kelly Big Tech, ChatGPT, Data May 19, 2023
Twitter is accusing Microsoft of using the social media company’s data in ways that were unauthorized and never disclosed. Alex Spiro, a partner at Quinn Emanuel Urquhart & Sullivan and attorney for Twitter owner Elon Musk, sent a letter to Microsoft on Thursday laying out the claims, ...Read More
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