JPMorgan Chase ordered to pay measly $4.6 mln over checking account reports; too little too late JPMorgan Chase Fined $4.6 Million for Inaccurate Account Screening Reports. These reports, similar to credit reports, are used by financial institutions to determine if an individual can open an account. Chase’s inadequate procedures for providing accurate information could have … Read more
Corporate Bond Bubble in the making? Investor demand for investment-grade credit is only growing stronger, as evidenced by portfolio managers’ appetite for AT&T’s (T) huge bond sale on Thursday. Originally expected at $15 billion, the deal size was upped Thursday afternoon to $22.5 billion. That makes it the third-largest corporate offering on record, according to … Read more
JPMorgan will soon be using a first-of-its-kind robot to execute trades across its global equities algorithms business, after a European trial of the bank’s new artificial intelligence (AI) programme showed it was much more efficient than traditional methods of buying and selling. The AI — known internally as LOXM — has been used in the … Read more
I was recently talking to a friend of mine who’s an accountant. He has his own accounting firm and lives an upper-class lifestyle in the Chicago suburbs. As he’s an accountant with an additional degree in economics, naturally the conversation veered to the future of the economy. He said he will happily pay for his … Read more
With a slight move lower in consumer price data released Wednesday, the South African Reserve Bank (SARB) is likely to reduce its policy interest rate Thursday, Societe Generale says. SocGen Analyst Phoenix Kalen writes: ” … the reserve bank’s prudently hawkish rhetoric [has been] espoused over many previous rate-setting meetings. However, we believe the balance … Read more
Stock Market Crash Prediction 101 Stock Market Crash predictions are nothing but acts of manipulation. Experts in conjunction with the mass media create stories to ratchet up the fear factor and trigger a stampede. Most Financial writers have chosen the wrong field; they would be much better served to work for one of those cheap … Read more
China’s CH-5 Rainbow drone more lethal than US Reaper and its also a lot cheaper China’s CH-5 Rainbow drone more lethal than US Reaper China has unveiled its deadliest drone so far, with the maker of the unmanned vehicle, which can carry up to 16 missiles, boasting that it would leave the US’s notorious Reaper … Read more
Your Bank Is Lying to You; stand up and fight or let the abuse continue Your Bank Is Lying to You and its time to take a stand If you don’t trust your bank, you’re in good company. With financial regulations unravelling, and in the wake of several shocking banking scandals, it’s remarkable we haven’t … Read more
Machine learning expanding exponentially Growbots uses machine learning to provide sales teams with the right leads to kickstart their outbound sales process. The service, which argues that its product can save each member of a sales team a few days of work every month, today announced that it has raised a $2.5 million funding round … Read more
Humankind Must Adapt As Artificial Intelligence Is Changing the World: Change is here Artificial Intelligence Future Hawking and his colleagues understand, however, that the AI genie has already been released from the bottle and there is no way to get it back in. After noting Hawking’s concerns, Ron Neale comments, “Such a warning about the … Read more
