Banking
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Amex bought Resy. Chase bought The Infatuation. Inside the credit card industry’s quiet takeover of how you spend
That hard-to-get reservation at the just-opened restaurant? It might run through a booking platform owned by your credit card company. The court-side tickets and the post-game meet-and-greet? Same. The hotel you’re about to book, the car ride to the restaurant, the points that post when the check arrives—increasingly, all of it lives inside infrastructure controlled…
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This upstart stablecoin bank just won a rare OCC charter and raised $40 million. Its CEO is only 25
“This is the best product in the history of the world but distribution is broken,” says Ferdinand Dabitz, holding up a $100 bill. Even though U.S. dollars are the world’s favorite currency, says Dabitz, many people seeking to get them must rely on an antiquated system of banks with limited hours staffed by clerks. The…
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Anthropic deepens push into Wall Street with new AI agents, full Microsoft 365 integration, Moody’s data partnership
Anthropic is dramatically expanding its footprint in financial services, launching a suite of pre-built AI agents for the world’s largest banks and debuting Claude Opus 4.7 — its most capable model for financial work yet. The announcements, made Tuesday at the company’s invite-only event in New York, cap a 48-hour blitz that signals Anthropic isn’t…
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San Diego Padres to sell team to investor group led by Kwanza Jones and José E. Feliciano, who will become the second Latino owner in baseball
The San Diego Padres have reached an agreement to sell control of the team to an investor group led by Kwanza Jones and José E. Feliciano. The family of late owner Peter Seidler formally announced the deal Saturday. The sale must still be approved by Major League Baseball. The deal with private equity billionaire Feliciano…
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Former Fed economist raises alarm on Warsh after historically partisan vote: ‘this is not normal is going to be a theme’
The Senate Banking Committee voted 13-11 along party lines Wednesday to advance Kevin Warsh’s nomination as the next chair of the Federal Reserve, the first fully partisan committee vote on a Fed chair in the panel’s history, according to Sen. Elizabeth Warren. Hours later, current Fed Chair Jerome Powell will deliver what is very likely…
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How AstraZeneca’s 17,000 AI-certified employees are helping it reach a ‘stretch goal’ of $80 billion in revenue
Good morning. AstraZeneca’s AI strategy has moved well past the exploration phase as upskilling employees became a priority. The biopharmaceutical giant has now certified more than 17,000 of its employees in AI competencies, Aradhana Sarin, CFO of AstraZeneca, told me. The program mandates that all staff above a certain grade reach at least a silver-level…
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Exclusive: America’s largest Black-owned bank launches podcast with mission to unlock hidden shame holding back generational wealth
For more than 50 years, OneUnited Bank has operated on the belief that financial empowerment in Black communities requires more than products and services—it requires confronting the systems that keep wealth out of reach. Now, the nation’s largest Black-owned bank is extending that mission into addressing how to close the racial wealth gap. On May…
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‘They left me no choice’: Powell isn’t going anywhere—blocking Trump from another Fed appointee
Federal Reserve Chair Jerome Powell announced Wednesday he will remain on the Fed’s Board of Governors after his term as chair ends May 15, citing what he called “unprecedented” legal attacks on the central bank’s independence by the Trump administration. “My concern is really about the series of legal attacks which threaten our ability to…
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Jerome Powell defies Trump one last time, holding rates steady: ‘The facts have moved decisively in the hawkish direction,’ top economist says
The Federal Reserve held interest rates steady on Wednesday in what is very likely Jerome Powell’s final policy decision as chair, leaving the federal funds rate in the range of 3.5% to 3.75% for a third meeting in a row and defying President Trump’s persistent demands to sharply lower rates. But beneath the headline decision,…
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Sen. Thom Tillis says he’s ready to move ahead with confirming Warsh as Fed chair after DOJ drops probe on Powell
The Republican senator who had effectively blocked confirmation of President Donald Trump’s pick to lead the Federal Reserve said Sunday he was dropping his opposition after the Department of Justice ended its investigation of the current central bank chair. The announcement by Sen. Thom Tillis of North Carolina removes a big hurdle to Trump’s effort…