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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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An investigation is ongoing into the sinking of tech billionaire Mike Lynch's yacht, Bayesian, which occurred on August 19, resulting in the deaths of seven individuals, including Lynch and his daughter. Divers have recovered crucial electronic evidence from the wreckage as authorities explore potential human error and weather-related causes.
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As the 2024 election approaches, Donald Trump has unveiled a series of tax proposals aimed at appealing to working-class voters. These include eliminating taxes on overtime pay and Social Security benefits, while also suggesting a reduction in the corporate tax rate. The implications for the national debt and fiscal policy are significant.
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The Federal Reserve is anticipated to announce a rate cut this week, potentially lowering its key lending rate from 5.3%. This move aims to ease borrowing costs for consumers and businesses, impacting mortgages, credit cards, and savings rates both in the US and globally.