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Exclusive-Goldman Sachs aims to double lending to wealthy private bank clients

By Saeed Azhar NEW YORK (Reuters) – Goldman Sachs aims to double its lending over the next five years to ultra-wealthy private bank clients with account sizes exceeding $10 million, as it gathers more deposits to supercharge lending, the bank’s private banking chief told Reuters. The plans, previously unreported, were disclosed to Reuters by Nishi […]

Florida Flooding Emergency Worsens as Thunderstorms Line Up

(Bloomberg) — Florida is being swept by a line of thunderstorms set to crash down on Miami, as heavy rain that already has brought Fort Lauderdale its rainiest June day ever wrings out across southern Florida and is likely to push losses over $1 billion. Most Read from Bloomberg The thunderstorms dropped 3 inches (7.62 […]

Broadcom soars as demand for AI chips powers forecast raise

By Arsheeya Bajwa (Reuters) – Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria. The rising adoption of generative AI has been driving demand for companies such as Broadcom that provide chips […]

JPMorgan to Wager on Weight-Loss Boom With $500 Million Fund

(Bloomberg) — JPMorgan Chase & Co.’s asset-management arm raised more than $500 million for a biotech venture-capital fund that will bet on the hottest corner of health care: weight-loss drugs. Most Read from Bloomberg The fund closed this month, and “the top three choices are obesity, obesity and obesity,” Steve Squinto, the chief investment officer […]

US producer prices unexpectedly fall in May

WASHINGTON (Reuters) – U.S. producer prices unexpectedly fell in May amid lower energy costs, another indication that inflation was subsiding after surging in the first quarter. The producer price index for final demand dropped 0.2% last month after advancing by an unrevised 0.5% in April, the Labor Department’s Bureau of Labor Statistics said on Thursday. […]

Losing a Bridge Upends Life in Baltimore (and It May Soon Get Worse)

Frank’s Bay Tavern in the neighborhood of South Baltimore — house cocktail: the grain alcohol Bay Slinger — has been hit hard by the collapse of the Francis Scott Key Bridge. Dockworkers who once stopped in for a beer after crossing the bridge are taking other routes home, said Karen Zapushek, who runs the bar […]

The Fed Holds Rates Steady and Predicts Just One Reduction This Year

Federal Reserve officials left interest rates unchanged at their June meeting on Wednesday and predicted that they will cut borrowing costs just once before the end of 2024, taking a cautious approach as they try to avoid declaring a premature victory over inflation. While the Fed had been expected to leave rates unchanged, its projections […]

Inside High Valley Books, the Fashion Bookstore in a Brooklyn Apartment

On a recent Sunday, few moments passed when Bill Hall wasn’t answering his home’s buzzer. He led a succession of fashionable Brooklynites through his entryway and into his sunny living room, which is lined with vintage fashion magazines, photo books from Guy Bourdin and Ron Jude and obscure German design quarterlies. “Three big libraries just […]

CPI Data Will Arrive Just Before the Fed Meets. Will It Be a Game Changer?

Just hours before the release of the Federal Reserve’s latest rate decision, fresh inflation data showed that price increases slowed notably in May. The new report is a sign that inflation is cooling again after proving sticky early in 2024, and it could help to inform Fed officials as they set out a future path […]

How Do You Use Water to Stay Cool at Home During the Summer? We Want to Know.

Summer is almost in full swing and New York is heating up. As the temperatures rise, we want to know how New Yorkers are staying cool — specifically, with water. For an upcoming New York Times story about cooling off at home, we’re looking for the many creative ways people escape the blazing sun. From […]

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