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Top Wall Street exec predicts ‘social unrest’ due to AI

Senior Wall Street finance executives say artificial intelligence could make many jobs, such as cashiers and drivers, unnecessary and lead to widespread social unrest. Armen Panossian, co-CEO of Los Angeles-based investment firm Oaktree Capital Management, told Bloomberg News that while AI “clearly has the potential to deliver enormous economic benefits,” it also poses “the greatest […]

Wall Street’s wild week — how it went, how it's going

Stocks end choppy week in volatile trading Job market situation remains uncertain Warren Buffett’s Big Money Move Impacts Apple and Safer Investments President Trump takes on the Federal Reserve again How big will the Fed’s first rate cut be? Investors consider Tim Walz as 2024 candidate for the White House and Kamala Harris’ running mate […]

Wall Street bonuses set to surge by up to 35% this year: report

Wall Street bankers are set to get a big raise after a two-year hiatus, with bonuses set to increase by up to 35%, according to a new report. If these predictions come true, it would be another boost for downtown Manhattan’s hospitality industry, which is already seeing a booming trade from wealthy New York interns. […]

Wall Street summer 2024 interns are partying hard

It’s been a very volatile week on Wall Street and a tumultuous summer for finance interns. For those lucky enough to get a summer job, salaries are higher than ever, with some companies hiring less than 1% of applicants. Top banks like Goldman Sachs and major hedge funds like Citadel typically pay $50 to $150 […]