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WSJ What’s News

Stablecoin Project Is Trump’s Latest Overture to Crypto

WSJ What’s News

The Wall Street Journal

News, Daily News

4.14.2K Ratings

🗓️ 12 September 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

A.M. Edition for Sept. 12. The WSJ’s Vicky Ge Huang explains what we know about former President Donald Trump’s backing of World Liberty Financial, and how the crypto industry has shaped this election cycle. Plus, as the European Central Bank prepares to cut interest rates, the WSJ’s Tom Fairless says the focus is shifting from inflation to concerns about whether Europe’s economy can keep apace with the U.S. and China. And, JPMorgan and Bank of America impose limits on young bankers’ hours after an outcry about Wall St reet’s dangerous culture of overwork. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

If only life had a remote control, you could pause or rewind.

0:03.6

Well, life doesn't always give you time to change the outcome, but pre-diabetes does.

0:08.5

Take the one minute risk test today at do I have pre-diabetes.org.

0:12.2

Brought to you by the Ad Councilb-Dibee's Awareness Partners.

0:15.0

Wall Street Banks call for young employees to log off following an overwork outcry.

0:24.6

Plus asset managers want to help wealthy clients dip their toes into private markets.

0:30.2

And we'll take a look at Donald Trump's latest attempt to court crypto money and votes.

0:35.5

This year's election has almost become a crypto election.

0:40.1

The crypto industry has raised a lot of money for a few super PACs.

0:47.0

It's Thursday, September 12th.

0:48.8

I'm Luke Vargas for the Wall Street Journal and here is the AM edition of What's News? The top

0:54.2

headlines and business stories moving your world today.

0:58.6

We are exclusively reporting that J.P. Morgan Chase and Bank of America are planning to limit

1:07.0

the hours that junior bankers are allowed to work as they seek to address an outcry over Wall

1:12.4

Street's dangerous culture of overwork.

1:16.0

J.P. Morgan will now cap junior investment bankers' hours at 80 per week in most cases,

1:22.0

while Bank of America will roll out a timekeeping tool that will

1:25.4

require them to share more details about how their time is spent.

1:29.6

The changes come after a journal investigation found that junior bankers at Bank of America were routinely

1:35.1

told to lie about their hours in order to avoid going over existing limits.

1:40.1

And they also follow the death earlier this year of a 35-year-old Bank of America Associate

1:44.6

who had been working multiple 100-hour weeks.

...

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