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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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The Bureau of Labor Statistics faced criticism after a technical issue allowed select Wall Street firms to access revised job data 20 minutes early. The report revealed a significant downward revision in job growth, raising concerns about data handling and transparency at the agency.
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Nvidia's shares fell 9.5% on September 3, 2024, leading to a significant selloff in global stock markets. Concerns over economic slowdown and disappointing manufacturing data have investors on edge ahead of key employment reports. The Nasdaq Composite dropped 3%, marking its largest decline since early August.
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As the Federal Reserve prepares for a likely interest rate cut on September 18, 2024, optimism is rising in the commercial real estate sector. Lower rates could stabilize property values and increase transaction volumes, particularly in struggling office markets and emerging living sectors like student housing and co-living spaces.