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In response to recent tragedies, JPMorgan Chase and Bank of America are implementing new policies to limit junior bankers' working hours. JPMorgan will cap hours at 80 per week, while Bank of America will introduce a detailed timekeeping tool. These changes follow the death of a junior banker earlier this year.
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Berkshire Hathaway surpassed a $1 trillion market valuation on August 28, 2024, joining tech giants like Apple and Microsoft. The company's shares have risen over 28% this year, reflecting strong investor confidence and solid profits from its diverse business portfolio.
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Brent crude oil prices fell to $68.78 a barrel, marking a three-year low. This decline is attributed to weak demand, particularly from China, and oversupply concerns. Economists suggest that lower oil prices could reduce recession risks in the U.S. as consumer spending may increase due to lower fuel costs.
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Shares in Rightmove surged by up to 25% following news that Australia's REA Group, majority-owned by Rupert Murdoch's News Corp, is considering a takeover bid. The potential deal could be valued at around £4.4 billion, raising questions about the future of the UK's leading property portal.
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As the U.S. approaches the November elections, economic forecasts are clouded by uncertainty. Goldman Sachs predicts potential GDP impacts based on election outcomes, while both presidential candidates propose plans that could significantly affect the national deficit, projected to reach $2 trillion this year.
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Shares of Trump Media & Technology Group have dropped significantly as the expiration of a lockup period approaches, allowing insiders to sell their stock. Concerns over the company's declining value and Trump's potential sell-off are causing investor anxiety, with his stake now valued at approximately $2 billion, down from $6 billion earlier this year.
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Vice President Kamala Harris and former President Donald Trump faced off in a heated debate, with Harris receiving notable support from voters and celebrities. Despite her strong performance, challenges remain in persuading swing voters in battleground states like Pennsylvania. The election landscape continues to evolve as both candidates push their economic agendas.