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☆ Fintechs need to focus on the future to develop tomorrow's solutions today
▼ + stars: | 2023-06-12 | by ( Sponsor Post | Created Unlimit With Insider Studios | ) www.businessinsider.com time to read: +6 min

The future is DeFiDecentralized finance (DeFi) has gained significant traction in recent years, offering a new paradigm for financial services that are open, transparent, and community-driven. DeFi adoption will significantly enhance the concept of "embedded finance," and we will see more integration of financial services with traditionally non-financial services or products. Foresee market structure trends and shape them proactivelyWhile fintech's growth in developed markets is undeniable, even more significant potential for growth lies in developing economies. This will empower customers to make payments swiftly and conveniently, ultimately driving higher adoption and usage of fintech solutions. With the fintech industry projected to reach $492.81 billion by 2028, the time to start looking into tomorrow is now.

Persons: Irene Skrynova, Statista Organizations: Intelligence, Central Bank, Allied Market Research, Finance, World Bank, Insider Studios Locations: China, India, Eastern Europe, Africa

☆ How I raised $2 million for my startup without knowing any venture capitalists
▼ + stars: | 2023-06-12 | by ( Jackson Cunningham | ) www.businessinsider.com time to read: +7 min

Cunningham says raising funds will almost always take more time and labor than you expect, so stay persistent, patient and proactive. One of the greatest challenges of entrepreneurship is raising money for your startup, especially if you don't have an established network of venture capitalists (VCs) to rely on. Dedication and follow-ups: Raising funds requires significant effort and labor. I've said it once already, and I'll say it again: Raising funds will almost always take more time and labor than you expect. Allow ample time for the fundraising process, leverage your founder network, create a compelling pitch deck, and craft personalized outreach messages.

Persons: Jackson Cunningham, Cunningham, VCs, Dave — we're, I've Organizations: DTC, Founders, Future Equity Locations: VCs

CNN —Following the harassment of WNBA star Brittney Griner at Dallas-Fort Worth International Airport, Phoenix Mercury’s leadership plans to make adjustments to prioritize players’ travel safety, head coach Vanessa Nygaard said Sunday. When asked if Griner was approved to charter flights and why she wasn’t chartering on Saturday, Nygaard said the team was following league-established rules and guidelines. Griner’s longtime teammate and WNBA star Diana Taurasi said that the harassment occurred during the team’s first public appearance since Griner’s release. Describing the incident as “unnerving,” Taurasi said the players’ safety comes first. “We implore the league and the teams not to wait another day to change the rule regarding travel.”

Persons: Brittney Griner, Vanessa Nygaard, Griner, ”, Viktor Bout –, Biden, ” Nygaard, Nygaard, Brianna Turner, “, Griner’s, Diana Taurasi, ” Taurasi Organizations: CNN, Fort Worth International, Phoenix, WNBA, “, “ League, Indiana Fever, Mercury, Basketball Players Locations: Dallas, Russia, of

☆ I'm Zoom's new chief product officer. Here's how I got to the C-suite and my best tips for working moms who aspire to an executive role.
▼ + stars: | 2023-06-09 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

Smita Hashim is the chief product officer at Zoom who has also held leadership positions at Microsoft and Google. I'm so glad I did — she gives me so much joy and I'm so glad I had her. Throughout my career, I've had a lot of diverse work experiences. I'm a huge believer in flexible work. I feel fortunate and grateful to be at Zoom and at the forefront of building products that are enabling flexible work for the world at large.

Persons: Smita Hashim, Hashim, it's, —, It's, There've, I've, I'm, flexibly, Jennifer Eum Organizations: Microsoft, Google, Service

☆ U.S. Congress to consider two new bills on artificial intelligence
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 8 (Reuters) - U.S. senators on Thursday introduced two separate bipartisan artificial intelligence bills on Thursday amid growing interest in addressing issues surrounding the technology. Lawmakers are beginning to consider what new rules might be needed because of the rise of AI. "We cannot afford to lose our competitive edge in strategic technologies like semiconductors, quantum computing, and artificial intelligence to competitors like China," Bennet said. Earlier this week, Senate Majority Leader Chuck Schumer said he had scheduled three briefings for senators on artificial intelligence, including the first classified briefing on the topic so lawmakers can be educated on the issue. read moreThe briefings include a general overview on AI, examining how to achieve American leadership on AI and a classified session on defense and intelligence issues and implications.

Persons: Gary Peters, Mike Braun, James Lankford, aren't, Braun, Michael Bennet, Mark Warner, Todd Young, Bennet, Chuck Schumer, Diane Bartz, David Shepardson, Alistair Bell Organizations: Homeland Security, Republican, Global, Thomson Locations: United States, China

☆ Dollar steady as traders consider Fed, global rates outlook
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: +3 min

The increased expectations that U.S. and global interest rates may have further to rise has come on the back of surprise rate increases by the Bank of Canada (BoC) and the Reserve Bank of Australia (RBA) this week. The Canadian dollar was last steady at C$1.3365 to the greenback, after rising to a one-month top of C$1.3321 in the previous session. The U.S. dollar index dipped slightly to 104.02, though strayed not too far from an over two-month high hit last week, on the back of higher Treasury yields. Money markets are pricing in a 29% chance that the Fed raises rates by 25bps at its policy meeting next week. "Markets have raised their FOMC rate hike expectations following a surprise Bank of Canada rate hike," said Carol Kong, a currency strategist at Commonwealth Bank of Australia.

Persons: Edward Moya, Carol Kong, Ray Attrill Organizations: Treasury, U.S . Federal Reserve, Bank of Canada, BoC, Reserve Bank of Australia, Wednesday, Canadian, U.S, European Central Bank, 25bps, of Canada, Commonwealth Bank of Australia, National Australia Bank Locations: Chicago, Asia

☆ A.I. is helping hackers make better phishing emails
▼ + stars: | 2023-06-08 | by ( Bob Violino | ) www.cnbc.com time to read: +5 min

"Historically, phishing emails have been somewhat easy to spot thanks to sloppy drafting," Finch said. "In particular, phishing emails created by a hacker unfamiliar with a certain language [have] tended to be easy to spot due to poor grammar, illogical vocabulary, and bad spelling." But AI allows many more people — regardless of their language skills — to quickly and cheaply generate convincing text for use in phishing emails, Finch said. Here are three steps cybersecurity leaders can take to strengthen their organizations' cybersecurity programs in the age of AI. The framework should include risk indicators, the AI ecosystem and regulations, and should "address the unique security considerations associated with AI within their organizations, and reducing their AI security risk," he said.

Persons: Chino, —, Brian Finch, Pillsbury Winthrop Shaw Pittman, Finch, Kyle Kappel, Kappel, CISOs Organizations: KPMG

☆ A former CEO shares 5 tips on how to grow as a leader without burning out
▼ + stars: | 2023-06-08 | by ( Susan Margolin | Kellogg Insight | ) www.businessinsider.com time to read: +8 min

One step is to build a "circle of influence" filled with people who can help you make an impact. But the path forward is not always obvious, says Sanjay Khosla, senior fellow and adjunct professor of marketing at the Kellogg School and trained executive coach. "When you're stressed out, there's a mismatch between what you want to be doing and what you're actually doing," Khosla says. As part of her circle of influence, Maya identified her manager, a few peers, a senior sales leader in her company, and a handful of people outside the company. "Look at everything from another person's point of view, rather than just telling them what you're doing," he says.

Persons: Sanjay Khosla, Khosla, —, Maya's, delegating, Maya, Susan Margolin Organizations: Kellogg School, Service, Kraft Foods International, Maya Locations: Boston

☆ Check out the 31-slide pitch deck startup Yuvo used to raise $20 million to help community health centers grow revenue
▼ + stars: | 2023-06-07 | by ( Leena Rao | ) www.businessinsider.com time to read: +3 min

Yuvo wants to help the 1,400 Federally Qualified Health Centers in the US grow revenue and capacity. His startup, Yuvo, helps community health centers participate in value-based programs from insurance companies, which rewards health care providers with incentive payments for the quality of care they give people. As a middle man between the insurance providers and the health centers, Yuvo opens up access for these health centers to participate in the programs by assuming the risk involved in some of these contracts. From the success of the program, Yuvo added five other health centers in New York and Ohio, said Herrera. "We can double the revenue of health centers for many patients and that's game changing for an organization," said Herrera.

Persons: Yuvo, Cesar Herrera didn't, Herrera Organizations: Health Centers, Mastry Ventures, Federally, Health Center, AV8 Ventures, New York Ventures, HLM Venture Partners, VamosVentures, Social Innovation Fund Locations: NY, Detroit, New York, Ohio

The average May temperature in Hanoi is 32 degrees Celsius (90 degrees Fahrenheit). “Which is why a humid heat wave is more dangerous than a dry heat wave,” she told CNN. This is above a threshold considered dangerous, especially for people with health problems or those not used to extreme heat. In Thailand, 20 days in April and at least 10 days in May reached feels-like temperatures above 46 degrees Celsius (115 degrees Fahrenheit). Throughout April and May, Vietnam, Cambodia, Laos and Malaysia all had several days with potential to cause extreme heat stress.

Persons: ”, ” Phong, Dinh Van Hung, ” Dinh, Nhac Nguyen, Maximiliano Herrera, Herrera, Mariam Zachariah, Cyclone Mocha, ” Zachariah, Chaya Vaddhanaphuti, ” Emmanuel Raju, ” Raju, Madaree Tohlala, “ Nui, “, ” Nui, Andre Malerba, Chaya, –, Chintanaphone, Boua Seng, Lobia Yaw, Thongsouk, hasn’t Organizations: Hong Kong CNN, CNN, Getty, ” Workers, Imperial College London, WWA, Chiang Mai University, Copenhagen Center for Disaster Research, Labour Organization, Farmers, Weather, Lao Farmer Network Locations: Hong Kong, Hanoi, Vietnam, Dong Da district, “, Hanoi , Vietnam, AFP, Dinh, Southeast Asia, Thailand, Laos, Cambodia, Malaysia, Myanmar, Asia, Thai, Narathiwat, Bangkok, ”

☆ West Coast port labor issues continue as some Los Angeles-bound rail shipments get paused
▼ + stars: | 2023-06-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Aerial view of containers and cargo ships at the Port of Los Angeles on Jan. 19, 2022 in San Pedro, California. Union Pacific is no longer accepting exports or empty containers at its Denver rail terminal destined for the Port of Los Angeles, a proactive move that reflects the supply chain issues that have arisen due to ongoing West Coast port labor issues. That is critical for food and agriculture shipments, where products can spoil — the U.S. agriculture industry uses the West Coast predominantly for its goods. The Port of Los Angeles is the nation's busiest port, processing $440 billion in cargo value per year. Berkshire Hathaway subsidiary BNSF and Union Pacific are the railroads servicing the West Coast ports.

Persons: Paul Brashier Organizations: Port, San Pedro , California ., San Pedro , California . Union Pacific, CNBC, Ocean, CMA, Pacific, Union Pacific, Berkshire Hathaway, BNSF, ITS Logistics, Pacific Maritime Association, Oakland, Truckers, Marine Services, Maersk Locations: Port of Los Angeles, San Pedro , California, San Pedro , California . Union, Denver, West Coast, Los Angeles, East Coast, Long, U.S, Seattle, OOCL, COSCO Shipping, Sealand, Evergreen

☆ How to negotiate virtually and win difficult Zoom conversations, according to research
▼ + stars: | 2023-06-06 | by ( Leigh Thompson | ) www.businessinsider.com time to read: +9 min

How virtual communication differs from face-to-faceSo, how can we build our VCQ? However, there is a profound, yet rarely acknowledged difference between in-vivo and virtual communication: namely shared mutual gaze, which occurs when two people lock eyes. That's partly because mutual gaze produces an immediate release of oxytocin, the bonding hormone. However, volleying offers back and forth at the virtual negotiation table can lead to transactional interaction. For this reason, negotiators should work to bring their best virtual self to the negotiation table by following the research-backed best practices here.

Persons: Leigh Thompson, Thompson, —, Chris, It's, we've, I've, volleying Organizations: Kellogg School of Management, Northwestern University, Service, Communication Intelligence

☆ 10 things Wall Street summer interns should know to snag a return offer, including how to fill the downtime and when it's not OK to go out for lunch
▼ + stars: | 2023-06-04 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +13 min

Wall Street's summer internship season is finally here — and the competition will be fierce. "I wouldn't be surprised if it's 70% or even less," he said of the return offer rates at the end of the summer. At the end of the summer, they may help determine who gets a return offer. "People just didn't know him, so they didn't have an opinion on him when they were making the decision about the return offer. "Assuming business professional-dressed student A and business casual-dressed student B perform equally well on the job, student A would be more likely to receive the return offer," Sibley said.

Persons: it's, Steve Sibley, They're, Sibley, don'ts, Goldman Sachs, David S, Holloway, Asif Rahman, Rahman, you'll, doesn't, I've, Gucci loafers, you've, You've Organizations: Indiana University's Kelley School of Business, Google, Wall Street Locations: New York City, San Francisco, snagging, dealmaking

☆ Saudi energy minister defends voluntary oil cuts as precautionary
▼ + stars: | 2023-06-04 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud arrives for the Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna on June 3, 2023Saudi Energy Minister Prince Abdulaziz bin Salman defended the voluntary output cuts announced by some allied oil producers in April, which he noted were first criticized as likely to spike crude prices — then, as failing to support them. This Sunday, they extended these measures through the end of 2024, with Riyadh announcing an additional 1 million-per-day voluntary and extensible drop, starting in July. The OPEC+ group otherwise collectively decided to stick to its targets for 2023, with production at 40.463 million barrels per day next year. On Sunday, the Saudi oil minister defended the voluntary moves as precautionary. "It was just our sensibility, if you will call it, that the environment was not sufficiently allowing confidence to be there.

Persons: Energy Prince Abdulaziz bin Salman al, Saud, Prince Abdulaziz bin Salman, —, Abdulaziz, CNBC's Dan Murphy Organizations: Energy, Organization of Petroleum Exporting, Saudi Energy, Organization of, Petroleum Locations: Saudi, Vienna, OPEC, Riyadh

☆ Saudi Arabia Says It Will Cut Production to Stem a Slide in Oil Prices
▼ + stars: | 2023-06-04 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

The group of major oil-producing countries known as OPEC Plus said on Sunday that it would embark on a complex effort to adjust production as it aimed to halt the recent slide in oil prices, including an additional cut in output of one million barrels a day by Saudi Arabia. The Saudi cut would be for one month beginning in July, but could be extended. The group, which also includes Russia and its allies, was under pressure to produce a deal to reverse the pessimism that has dominated the oil market in recent weeks. The resulting deal reworks the output quotas of several countries, with some gaining and some losing production levels. OPEC Plus, in a statement, said that it was acting “ to achieve and sustain a stable oil market,” and that it was continuing its recent approach of being “proactive, and pre-emptive.”

Persons: ”, Richard Bronze, “ Organizations: OPEC Locations: Saudi Arabia, Saudi, Russia

Brands fearful of right-wing backlash are discussing scaling back their Pride Month activities. Right-wing media personalities have declared a "war on woke," with The Daily Wire's Matt Walsh recently rallying his Twitter followers to "make 'pride' toxic for brands." This month, the LGBTQ+ dating app Taimi initiated an ad campaign that included billboards in states including Florida, Oklahoma, Texas, and others. Those billboards were largely on privately-owned farmland and most of the landowners rejected Taimi's ad campaign, many requesting "no nudity" in the images. The North Face, which debuted its "Summer of Pride" ad campaign starring drag queen Pattie Gonia late last month, is holding firm.

Persons: Bud Light, Matt Walsh, Ross Martin, Martin, Bud Light's, influencer Dylan Mulvaney, Hannah Lewman, Pattie Gonia, rightwing firebrands, Amy Luca, Media.Monks, Brian Stout, It's, We've, Dean Crutchfield, Crutchfield, Mark Borkowski, I've, Mekanism's, There's, Benjamin Cohen Organizations: Target, Daily, Brands, Partners, Gay and Lesbian Alliance, Defamation, Pink Locations: Florida , Oklahoma , Texas, Taimi's

☆ Andrew Tate claims he’s a force for good. Others say he spreads a ‘misogynistic rape culture’
▼ + stars: | 2023-06-02 | by ( Sophie Tanno | ) edition.cnn.com time to read: +12 min

Emory Andrew Tate III is a 36-year-old professional fighter-turned media personality from Chicago who has racked up billions of views online for his rants about male dominance, female submission and wealth. In the years since, he has become a divisive online content creator with the self-proclaimed “misogynist” suspended from all major social media platforms. ‘Daily diet of misogyny’Tate has been accused of pedaling hateful views online and making his controversial lifestyle appealing to young and vulnerable audiences. Introduce the topic by saying you have read about Andrew Tate and ask if they have heard of him,” she suggested. According to Drummond, schools are being proactive in starting conversations that allow adolescent males to explore issues surrounding Tate and his ideology.

Persons: Andrew Tate, Lucy Williamson, Tate, “, ”, Williamson, I’ve, I’m, ” Tate, Jayne Butler, Tristan, Emory Andrew Tate, “ misogynist ”, Elon Musk, Vadim Ghirda, Greta Thunberg, ’ Tate, Hope, Georgie Laming, Tate’s misogynist, ” Laming, Alicia Drummond, ” Drummond, Drummond, Laming, Tommy Robinson, YouTuber Paul Joseph Watson, Alex Jones, “ Tate, Andreea Alexandru, can’t Organizations: London CNN, Wales, American, Twitter, Facebook, YouTube, Media, Elon, AP Tate, Romania’s, CNN, Tate, Management Agency, Hate Locations: Romania, England, British, Chicago, Bucharest, Britain, United States, Australia, “

☆ Stop introducing yourself by talking about your job. It's boring and no one cares.
▼ + stars: | 2023-06-02 | by ( Michael Domanico | ) www.businessinsider.com time to read: +3 min

This is a boring way to intro ourselves to new people. After getting to know everyone's name, one of the most common follow-ups is, "So what do you do?" And instinctively, people reply with their job and talk about their company, their role, and their day-to-day responsibilities. But when someone is talking about something they're super passionate about, your ears can't help but perk up. Instead of learning something about how someone's work cafeteria had some drama last week, you'll likely learn something brand new and get to know the person even better.

Persons: —, Rihanna, it's, you'll Organizations: Service Locations: Swedish

☆ 4 financial tools that all parents should consider, whether their child is a newborn or a teen
▼ + stars: | 2023-06-01 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

Things such as life insurance and investments can help increase your child's financial security. These are the tools a financial planner said parents should consider. Get — or update — life insuranceHaving up-to-date life insurance is one of the most important things you can do to look out for your child. And that's the perfect time to open a Roth individual retirement account, a type of retirement savings account. "To determine what's best for them, parents should consider their financial goals, risk tolerance, and their child's potential needs," Lofton said.

Persons: Jenna Lofton, Lofton, doesn't, They'll, Roth, they're Organizations: College, Roth IRA

☆ Money stored in payment apps like Venmo may be more vulnerable than bank deposits, CFPB says
▼ + stars: | 2023-06-01 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — Money held in non-bank, peer-to-peer payment apps is not guaranteed for federal deposit insurance protection, which makes the funds more vulnerable, the Consumer Financial Protection Bureau warned on Thursday. More than three-quarters of U.S. adults have used a payment app, according to the Pew Research Center. Some invest the money in interest-earning loans and bonds instead of depositing into a traditional bank or credit union. But the insurance is only provided under certain conditions and does not protect users' money if the parent app collapses. Until then, app users must be proactive in moving money into an insured financial facility until a method is adopted, the agency said.

Persons: Millennials, Rohit Chopra, CFPB, Chopra, Elon Musk, Zelle Organizations: WASHINGTON, Consumer Financial, Pew Research Center, Twitter, PayPal Locations: U.S, Venmo

☆ How to invest ahead of the market's next challenges, according to a top financial advisor
▼ + stars: | 2023-06-01 | by ( Kiley Lambert | ) www.cnbc.com time to read: +3 min

A member of the CNBC Financial Advisor Council, Sun is a regular media on-air contributor for a variety of local and national programs. Sun recently shared her thoughts on a number of savings and investment topics ahead of the CNBC Financial Advisor Summit on June 15. Sun: The most important advice we are giving our clients right now is to stay aware of the current market environment but prepare for more challenges ahead. As financial advisors, it is crucial for us to not only hear but truly listen to cues of stress and emotions from our clients. While we may perceive a financial decision as clear and straightforward, our clients may still feel hesitant.

Persons: Winnie Sun Organizations: Sun, Wealth Partners, CNBC, Summit Locations: Irvine , California

Summary Manufacturing PMI unexpectedly fallsNon-manufacturing PMI falls, as services slowPMIs show economic recovery losing steamMarkets skid on PMI weaknessBEIJING, May 31 (Reuters) - China's factory activity shrank faster than expected in May on weakening demand, heaping pressure on policymakers to shore up a patchy economic recovery and knocking Asian financial markets lower. "The PMI data reveal that China may heading to a K-shaped recovery," said Bruce Pang, chief economist at Jones Lang LaSalle. "The sluggish domestic demand could weigh on China's sustainable growth, if there are no efficient and effective policy moves to engineer a broad-based recovery," said Pang. The PMI subindexes for May showed factory output swung to contraction from an expansion while new orders, including new exports, fell for the second month. Last month, imports contracted sharply, factory gate prices fell, property investment slumped, industrial profits plunged and factory output and retail sales both missed forecasts.

Persons: Bruce Pang, Jones Lang LaSalle, Pang, Jones Lang LaSalle's Pang, Li Qiang, Zhiwei Zhang, Liangping Gao, Ryan Woo, Sam Holmes Organizations: PMI, National Bureau of Statistics, . Service, New, Jones, Labor, Nomura, Barclays, Thomson Locations: BEIJING, Asia, New Zealand, China, Japan

☆ As retirement confidence drops, experts say focusing on these 4 factors can help
▼ + stars: | 2023-05-31 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Decide where you will live in retirement— Key deadline to watch: The sooner, the better. While you may start your Social Security retirement benefits as early as age 62, eligibility for Medicare generally does not start until age 65. Choose when to claim Social Security benefits— Key deadline to watch: By age 60, you should go to the Social Security Administration website and review your statement, recommends Copeland. When to claim Social Security retirement benefits is one of the big questions retirees face. "The later you can file for Social Security, the better it is as far as the amount you're going to get," John said.

Persons: Craig Copeland, Copeland, Dann Tardif, Susan Reinhard, It's, Reinhard, Jane Sung, Sung, Rupp, John Organizations: AARP, Institute, Social, Medicare, Security, State Health Insurance, Social Security, Social Security Administration, Sporrer, Getty

☆ Russia's efforts to knock out Ukraine's much-improved air defense systems aren't working, UK intel says
▼ + stars: | 2023-05-31 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Russia's efforts to target Ukraine's air defenses have had "little success," the UK MOD said. Ukraine shot down several Kinzhal missiles this month, which Russia had bragged were unstoppable. In its latest update, the UK MOD described a slew of recent aerial attacks on Ukraine. But the UK MOD described Russia as otherwise focused on reacting to Ukraine's moves rather than being proactive in its war. Both sides are now gearing up for Ukraine's expected counteroffensive, after Russia's own recent offensive to try to take more territory failed to achieve noticeable results.

Persons: — Organizations: MOD, Service, UK Ministry of Defense Locations: Russia, Ukraine, Western, Kyiv

NEW YORK, May 31 (Reuters) - Wells Fargo & Co's (WFC.N) Chief Executive Officer Charlie Scharf said on Wednesday that there will be losses in the office loan space but the lender was proactively managing its portfolio. But in the context of the overall portfolio and the overall size of our loan portfolio with the company, we are not overly concentrated in office (loan space)," Scharf said while speaking to investors at a conference. The bank's outstanding commercial real estate (CRE) loans stood at $154.7 billion, or 16% of total loans, with $35.7 billion in office loans at the end of March. Office loans have posed concerns for some lenders as property values decline and more borrowers default on their loans. The San Francisco-based bank set aside $1.21 billion in the first quarter to cover potential loan losses, compared to $787 million a year earlier.

Persons: Charlie Scharf, " Scharf, Scharf, Banks, We've, Wells Fargo, Nupur Anand, Saeed Azhar, Jason Neely, Nick Zieminski Organizations: YORK, U.S, Regulators, JPMorgan Chase &, Bank of America Corp, Citigroup Inc, Thomson Locations: San Francisco, New York

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