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Search resuls for: "Insider's Reed Alexander"


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In today's big story, we're looking at the reshuffling of top executives at two of the biggest US banks . Viswas Raghavan, JPMorgan's top dealmaker, has joined Citi as its head of banking and executive vice chair, reporting directly to CEO Jane Fraser. The move is a big deal, but even more shocking since Raghavan was just promoted to be the sole head of JPMorgan's deals business. Since high interest rates aren't stopping stocks from reaching record highs, cuts might not come at all this year , according to analyst Jim Bianco. Market vet Ed Yardeni said interest rates are actually in a sweet spot for stocks, similar to the late '90s.
Persons: Viswas Raghavan, Jane Fraser, Raghavan, Filippo Gori, Doug Petno, Insider's Reed Alexander, Patrick T, Fallon, Fraser, Merrill Lynch, Andy Sieg, Warren Buffett, Warren, Berkshire Hathaway's, Jim Bianco, Ed Yardeni, Gemini, Demis Hassabis, Long, Alyssa Powell, they've, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock Organizations: Citi, JPMorgan, Warren, Warren Buffett REUTERS, Chip, Berkshire, Buffett, Research, Wall, BI, Google, eBay Locations: Bronx, Gori, Rivian, New York, London
Negotiations between Hollywood studios and SAG-AFTRA, the actors' union, have been suspended. On Wednesday, the Alliance of Motion Picture and Television Producers said the gap between the two sides is "too great." AdvertisementAdvertisementNegotiations between SAG-AFTRA, the striking actors' union, and Hollywood studios have been suspended, the Alliance of Motion Picture and Television Producers, or AMPTP, said Wednesday. Over 160,000 union members of SAG-AFTRA started striking on July 14, joining a writers' strike that began on May 2. The Writer's Guild of America came to a tentative agreement with Hollywood studios on September 24.
Persons: Television Producers, AFTRA, , Insider's Reed Alexander, Alison Brower Organizations: Hollywood, SAG, Alliance, Television, Service, Television Producers, of America
Here's how firms use "bossware" to keep tabs on employees, from tracking keystrokes to breaks. AdvertisementAdvertisementJPMorgan's dashboard "provides the percentage of days employees were in the office out of the possible eligible days," a description on the company intranet says. AdvertisementAdvertisement"We help companies get peace of mind with productivity analytics," he previously told Insider. Sensors tracking employees' whereabouts in the officeSome employers may even keep tabs on where employees spend the most time in the office. CEO Alex Birch previously told Insider the devices don't identify individuals but render them as dots on a screen.
Persons: , Insider's Eugene Kim, Rob Munoz, Goldman Sachs, it's, Carlo Borja, Insider's Reed Alexander, Alex Birch, Big, It's, Sean Grundy Organizations: Service, JPMorgan, Bevi
The Writers Guild of America reached a tentative agreement with Hollywood studios on Sunday. AdvertisementAdvertisement"The WGA and AMPTPT have reached a tentative agreement," the AMPTP email said; the WGA's version was typo-free. The tentative agreement comes after the guild and the AMPTP — which represents major studios and streaming services, including Warner Bros. They were joined on the picket lines by over 160,000 union members of SAG-AFTRA, the actors' union, on July 14. Broadcast networks' fall TV schedules were loaded with reality series, whose writers aren't subject to the WGA agreement.
Persons: Bob Hopkinson, Netflix —, they've, Alex O'Keefe, O'Keefe, Keefe, Drew Barrymore, Barrymore, Insider's Reed Alexander, Alison Brower, TUSC Organizations: Guild of America, Hollywood, WGA, Service, Alliance, Television Producers, Warner Bros, Disney, Netflix, SAG, Guild, Union Solidarity Coalition Locations: Wall, Silicon
63% of workers surveyed say they keep their status actively online, even when not working, per Slack. These findings come amid an ongoing debate about hustle culture and performative productivity. Slack's State of Work report was conducted between February and March, surveying 18,149 employers and employees from nine countries. These findings come amid an ongoing debate about hustle culture and performative productivity. This discontent with hustle culture even propelled "quiet quitting" into virality.
Persons: Slack, they're, Insider's Reed Alexander Organizations: Employees, Service, JPMorgan, OECD Locations: Slack, Wall, Silicon, Slack's
Thousands of hotel employees across LA and southern California went on strike Sunday. 96% of the union voted last month to authorize a strike amid disputes over pay and benefits. The union's website states that it represents over 32,000 workers across Southern California and Arizona, and at least 15,000 workers are affected by the current dispute. About 600 of the union's members are not striking as LA's largest hotel, the Westin Bonaventure, agreed to a tentative deal with its union workers last week. The strike is the latest labor dispute to reach this extreme in Los Angeles, which has seen multiple over the last few months, per the Times.
Persons: , Kurt Petersen, We're, it's, Emely Lopez, Insider's Reed Alexander Organizations: Service, CNN, New York Times, Westin Bonaventure, Intercontinental, KTLA, . Teachers, Hollywood Locations: LA, California, Los Angeles, Orange, Southern California, Arizona
Private credit goes Hollywood. A town that loves a good story has a leading role in the biggest one on Wall Street. So in that vein, private credit filling the gap left by banks reconsidering their lending decisions is great. Ratings agency Moody's has already raised the alarm, suggesting defaults among borrowers in private credit will rise. But I think it's fair to say that industry isn't as cut and dried as others private credit might be lending to.
Persons: Dan DeFrancesco, fanny, , we've, Maks, it's, Insider's Reed Alexander, Rebecca Ungarino, Reed, Rebecca, Moody's, Consuelo Vanderbilt Costin, Bryan Griffin, James, Jim, Crown, Henry Crown, Junius Myer Schine, David Sinclair, Jeffrey Cane, Hallam Bullock Organizations: Credit Suisse, Wall, Investment, Hollywood, Creators, The Vanderbilt, UBS, JPMorgan, Fidelity, Wall Street, LinkedIn Locations: Hollywood, Swiss, Aspen , Colorado, Silicon, Jersey Shore, New York, London
Investment banking internships kick off across Wall Street this week. Richard Handler, CEO of investment bank Jefferies, has some tips for incoming interns, including a harsh reminder that working hard is no guarantee of a job. Handler's comments come as investment banking internships kick off at a difficult time for Wall Street. Handler acknowledged that some interns decide that investment banking is not for them. Insider's Reed Alexander spoke to an investment banking intern for a midsize bank who said he hated being chained to his desk and seeing junior bankers being reamed out in public.
Persons: Richard Handler, Handler, Richard Handler's, Goldman Sachs, Jefferies, aren't, Brownstein, Insider's Reed Alexander Organizations: Jefferies, Morning, Twitter, Wall, Bank of America
FTX kicked off its bankruptcy hearing on Tuesday, and the initial statements give Sam Bankman-Fried and company little to cheer. James Bromley, counsel to FTX's new management, had choice words during the first day in the Delaware hearing. Ray and his new management team's estimate of FTX's cash holdings has nearly doubled, a Saturday filing showed. In the letter, seen by the Financial Times, Bankman-Fried said excessive borrowing by Alameda Research was responsible for FTX's collapse. Elon Musk's EV maker has seen its market cap plunge from a high of $1.2 trillion.
The cuts come after Goldman's investment bank logged a 41% dip in year-over-year revenues in July. Goldman Sachs has started wielding the axe at its investment bank. The job cuts are likely to echo across Wall Street, particularly within investment-banking divisions like capital markets and M&A advisory, bankers told me. US lawmakers pressed bank chief executives on reports of fraud on the Zelle payments network. Wall Street is completely delusional about the pain that is coming for the stock market.
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