Banker and lawyer leading Bank of America
Bank of America data show US host cities are seeing on-the-ground economic impact from the World Cup, with restaurants and bars leading spending gains and hotel revenues rising in several markets, though results vary by city and broader inflation weighs on sentiment.
Starbucks and Bank of America are recalibrating GLP-1 weight-loss drug coverage amid rising costs. Starbucks will exclude GLP-1s for weight loss from October for benefits-eligible employees; Bank of America says its GLP-1 program costs exceed $250 million annually and accounts for about 13% of healthcare spend. Other firms weigh limits as utilization climbs.
JPMorgan Chase Chief Executive Jamie Dimon has warned that market leverage remains elevated, with hidden borrowing amplifying potential disruptions as analysts scrutinise leveraged ETFs and AI-driven bets. The remarks come amid recent stress at Situational Awareness and regulatory moves in Korea.