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J.P. Morgan unleashes $50 billion buyback after stress test

The annual stress test modeled a sharp economic shock, including steep declines in commercial real estate and home prices, with unemployment surging to 10%, the Fed detailed in its results. All 32 of the nation’s largest banks survived the hypothetical downturn, absorbing more than $708 billion in projected losses while maintaining minimum capital levels. Within

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Stubborn 6.5% mortgage rates cause stunning housing market change

As mortgage rates have remained consistently high since the middle of May, attention in the housing market continues to focus on the affordability crisis that began in 2022, as post-pandemic inflation became the primary focus of federal monetary policy. For homebuyers and sellers, that means business continues to be sluggish as the average person’s finances

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Anthropic restores access to Mythos 5 for select organizations

On June 12, Commerce Secretary Howard Lutnick sent Anthropic a letter giving the company 90 minutes to disable two of its most powerful AI models for every customer it had, anywhere in the world. Anthropic confirmed it complied. Two weeks of negotiations in Washington followed. On June 26, Lutnick sent Anthropic another letter. Anthropic confirmed

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Do Plan Sponsors Want CITs— Why Target-Date Portfolios May be the CIT Sweet Spot

Francis LLC’s Edward McIlveen, CFA unpacks what today’s conversations look like between consultants and plan sponsors, including where the biggest interest tends to come from (with target-date portfolios leading the way). We also break down what makes CIT due diligence different, what paperwork and agreement reviews are typically required, and the key underwriting questions that

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Cybersecurity and cloud service firm files Chapter 11 bankruptcy

The technology sector, for the most part, has avoided a wave of bankruptcy filings that other industries have faced, including retail, restaurants, and real estate companies. One significant technology bankruptcy this year was Pepper Pay LLC, a Miami, Fla.-based financial technology company that sold digital payment processing services to small businesses, which filed for Chapter

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Walmart’s war with Amazon just moved into your living room

The fight between Walmart and Amazon is no longer just about who can deliver groceries faster or offer the lowest price on household essentials. That rivalry has moved into nearly every part of retail. The two companies compete for shoppers, marketplace sellers, delivery speed, memberships, supply-chain strength, and even international e-commerce reach. TheStreet covered that

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