Chicago's city council members are pushing for a full look at a costly report on potential city savings. The report, created by Ernst & Young, cost taxpayers over $3 million. Aldermen want to see all the findings, but the mayor's team says they'll only share the final recommendations. At a recent budget meeting, aldermen expressed concerns about transparency. They r...
The SEC has a new boss for its Corporation Finance Division. James Moloney, a well-known figure in corporate securities law, is stepping into this important role. He's no stranger to the SEC, having worked there before from 1994 to 2000. After that, he spent time at a big law firm, Gibson Dunn & Crutcher, where he was a key player in their securities regulation and c...
In the fast-paced world of biotech, big names are making headlines. Pfizer's CEO, Albert Bourla, recently praised President Trump's Operation Warp Speed, even suggesting he might deserve a Nobel Prize. Meanwhile, Atlas Venture has raised a massive $400 million fund, but only a select few startups will get a chance to benefit from it. Agios Pharmaceuticals is facing ...
Senator Elizabeth Warren recently criticized President Donald Trump for not keeping his promises on reducing costs. She pointed out that prices for everyday items like groceries, gas, and school supplies have gone up instead of down. Warren accused Trump of raising costs through tariffs, which she says hurt working families. At the same time, reports suggest that Tr...
In the vast landscape of finance and economics, there's a space where curious minds gather to discuss the latest happenings. This is the realm of Odd Lots, a platform that offers a daily dose of insights and conversations. It's not just about the hosts, Joe Weisenthal and Tracy Alloway, sharing their perspectives on market trends and economic shifts. It's also about ...
In the next five years, finance jobs might look very different. AI is changing the game, and bosses need to step up. Right now, eight big changes are coming. These include new tech, different ways of working, and new rules. AI is the biggest one. By 2030, many apps will have AI that can make decisions on its own. This means people in finance will spend less time on b...
The UK's top court recently made a big decision. It said car finance companies might not have to pay as much money back to customers as previously thought. This could be a game-changer for the industry. The court's ruling means the total compensation bill might be less than half of what was initially estimated. That's a huge deal! Some experts think this could lead ...
Circle is set to launch its Arc blockchain, and it's not waiting around for others to catch up. Right from the start, big players like banks and asset managers will be able to jump in, thanks to a partnership with Fireblocks. This is a big deal because usually, new blockchains have to prove themselves before they get this kind of attention. Arc is designed with stab...
Frank Savage, a trailblazer in finance and sailing, passed away at 87. His journey was marked by significant achievements and a notable involvement in the Enron scandal. Savage was one of the few Black Americans to reach the top levels of global finance. He died on July 16 in Newport, R. I. , after a two-year battle with dementia. Born and raised in segregated Washi...
Mexico's President Claudia Sheinbaum has chosen Maria del Carmen Bonilla to be the new deputy finance minister. This decision ends weeks of guessing about who would take the job. Bonilla has been working at the finance ministry since 2021. She has been in charge of the unit that deals with public credit and international affairs. If approved, she will replace Edgar ...