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Fed Chairman Jerome Powell warns business borrowing at ‘historic highs’ shouldn’t be ignored

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There’s a “moderate” risk that “near record levels” of business debt will spill over into the broader US economy and spark another financial crisis, Federal Reserve Chairman Jerome Powell said on Monday. Collaterized loan obligations (CLOs) have been a key funding source for riskier business borrowing, Powell said. “Business debt has clearly reached a level...
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‘It’s a cat-and-mouse game’: The head of technology at $60 billion hedge fund Two Sigma explains why cybersecurity is a bigger challenge than AI

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Alfred Spector, Two Sigma’s chief technology officer for the past three years, said computer security is a harder problem to solve than artificial intelligence.  In an interview with Business Insider, he said that he thinks about the subject constantly, including “nation-state attacks” on US infrastructure. Despite ever present concerns about security, Spector is excited to...
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‘John Wick 3’ dethrones ‘Avengers: Endgame’ at domestic box office after historic run

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Lionsgate’s “John Wick: Chapter 3 – Parabellum” had a franchise-best opening weekend with an estimated $57 million to win the domestic weekend box office. It finally knocked off “Avengers: Endgame,” which topped the box office for the last three weeks. However, “Endgame” now has a $771 million domestic total, making it the second-best grosser all-time...
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6-year courtships, misplaced briefcases, and ‘damned frustrating’ vacancies: How Evercore assembled a dealmaking A-team and started challenging Goldman Sachs and JPMorgan

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Since Ralph Schlosstein joined it almost exactly 10 years ago, the independent investment bank Evercore has produced a nearly 600% total return and grown its advisory revenue to $1.74 billion from $180 million. No publicly traded competitor — bulge bracket or boutique — beats Evercore’s performance over the past decade. Part of the firm’s success...
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Investors are increasingly betting the Fed will drop rates, as the trade war escalates and Trump calls for a cut

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While the Federal Reserve paused its three-year hiking campaign this year, officials have fallen short of signalling that lower borrowing costs are coming. But as the trade war between the US and China escalates, market expectations for an interest rate cut have been ticking higher.  More than three quarters of investors forecast a rate cut...
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BANK OF AMERICA: Buy these 14 stocks, which will surge even as the US hurtles towards a full-blown trade war with China

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China escalated its trade dispute with the US on Monday, announcing retaliatory plans to slap 25% tariffs on US goods worth about $60 billion.  Strategists and economists at Bank of America Merrill Lynch laid out their investing advice for the worst-case scenario: a “full-blown” trade war. They advised buying quality companies that do most of...
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