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The Latest Breaking News from Bank of America

Why scammers who stole billions in unemployment benefits may get away with fraud

WASHINGTON — Just a small percentage of the at least $60 billion in unemployment payments estimated to be lost to fraud during the pandemic has been recovered, and time is running out to prosecute those who committed the crime.

Los Angeles Times

The ‘free money’ tech investment era is over and the ‘old economy’ is set to become the big winner, according to Bank of America

“Bear markets have historically resulted in leadership change, which suggests old economy sectors are likely the winners of this cycle,” Bank of America equity strategist Savita Subramanian wrote Wednesday.

Fortune

Bank of America: ‘Black-owned businesses are growing–but they need our continued support to thrive’

Black entrepreneurs are more optimistic than other groups about the business outlook. It's time to give them the capital they need to grow their businesses

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

Americans are saving less for retirement, but they may be slowing down dipping into their 401(k)s

Americans are saving less for retirement, but there's a bright side: They may not be dipping into their 401(k)s as much as they used to.

Fortune

The 10 best business checking accounts for February 2023

We compared business checking accounts across more than 30 financial institutions and weighed minimum balance requirements, overdraft fees, APYs, branch and ATM access, and more.

Fortune

‘Hope is not a strategy’: BofA CEO warns corporate America must prepare for the worst around debt ceiling

Bank of America CEO, Brian Moynihan, said now is not the time to start tweaking the 250-year-old Constitution.

Fortune

Giannis Antetokounmpo of the Milwaukee Bucks aims to level the playing field in ESG investing

The NBA star is launching a new venture with John Koudounis, president and CEO of Calamos Investments.

Fortune

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It's nothing personal: On Wall Street, layoffs are a way of life

Big companies such as Amazon and Google have recently announced layoffs. On Wall Street, getting cut is always acknowledged as an ever-lurking prospect — but it still stings when it happens.

WEKU

How to score tickets to Beyoncé's Renaissance tour using your Citi card

For Citi cardholders, the key to getting a front row seat to Queen Bey may be easier than you think.

Fortune

How Wall Street’s fossil-fuel money pipeline undermines the fight to save the planet

Big banks and investment firms have joined the ranks of companies making "net-zero" pledges. But their huge stakes in oil and gas projects are undermining their climate promises.

Fortune

The 10 best online brokerages for January 2023

The best online brokerages, considering minimum deposit requirements, stock trading fees, educational resources, margin trading accounts, and customer service options.

Fortune

Your boss might be hoping you quit because it’s easier and cheaper than firing you

Federal Reserve officials explained in January’s "Beige Book" that many companies are planning to "reduce headcount through attrition," instead of opting for layoffs to save costs.

Fortune

Hasbro-owned publisher of D&D backtracks on license changes that angered fans

Fans and creators were upset about potential changes to the "Open Games License," which allows third-parties to use content from Dungeons and Dragons.

Fortune

Bank of America says the problem with Zelle transactions is resolved

The website Downdetector reported spikes in outages involving Bank of America and payment platform Zelle starting Wednesday morning.

WEKU

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The Independent UK

Zelle users report outage with bank-to-bank payment system

On Wednesday, Bank of America customers complained on Twitter about missing money

USA Today Sports Media Group

Report: Dan Snyder plans to sell ‘majority stake in the’ Commanders

it doesn't mean that Snyder isn't selling the entire team.

Bangkok Post

Big C lining up banks for B30bn IPO

Big C Supercenter Plc has picked Bank of America and UBS Group to advise on an initial public offering expected to be worth at least 30 billion baht, according to people with knowledge of the matter.

Fortune

Fund managers’ recession fears 'a lot less bearish' than 2022—but faith in U.S. stocks is collapsing, Bank of America poll finds

Analysts described this month’s retreat from U.S. equities as “impressive.”

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Sports Illustrated

Jerry Jones Explains How Dan Snyder Relationship Has Changed

The Commanders owner hired Bank of America in November to aid a potential franchise sale.

Axios

These major banks see a "mild recession" coming in 2023

JPMorgan Chase, Bank of America and Citigroup are bracing for an economic downturn in 2023, including an uptick in unemployment, even as they continue to benefit from strong consumer spending and higher interest rates.

Fortune

Jamie Dimon is waffling on his economic ‘hurricane’ take yet again. His bank is now calling a ‘mild recession’ later this year

Wall Street banks are building cash reserves to cope with a “mild recession.” It’s a more optimistic outlook than some CEOs have previously offered.

Fortune

Bank of America tops stakeholder capitalism rankings

Under Brian Moynihan, the bank has increased the minimum wage, expanded parental leave, and avoided layoffs.

Fortune

The biggest investing trends to bet on in 2023

Fortune’s Quarterly Investment Guide explains surprising trends and the top stocks to buy this year.

Inverse

Government-issued digital currencies could bring about a dystopian future, security experts warn

As the world moves away from cash, countries are rolling out government-regulated digital currencies that have concerned security experts.

Fortune

A winning stock strategy in 2023? Steady not sexy

The best stocks to buy now fall into 3 unloved sectors: banking, defense, and health care.

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