Author: arthursheikin@gmail.com

[ad_1] Welcome to Wall Street’s AI era.Banks, hedge funds, asset managers, and private equity firms have been eager to use generative AI to boost productivity and reduce grunt work for workers. Since OpenAI introduced ChatGPT, finance firms have moved from pockets of experimentation to scaling these generative AI tools companywide. Such tech advancements have been met with a mix of enthusiasm and cynicism.Business Insider has been reporting on how some of finance’s biggest players are approaching artificial intelligence, from how it might impact jobs and create new ones, to the different ways firms are cutting costs and ramping up efficiencies.Here…

[ad_1] Updated 2025-07-02T12:44:01Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. I tried beef hot dogs from Nathan’s, Sabrett, Applegate, and Ball Park. Ball Park had the thickest frank, but I thought Applegate’s organic hot dogs packed the most flavor. I didn’t think Sabrett’s less-than-flavorful hot dogs warranted their higher price tag. Nothing says summer quite like a crispy, cooked hot…

[ad_1] Here are the biggest calls from Wall Street on Wednesday: Compass Point initiates Block as buy Compass says the “fundamentals are set to re-accelerate.” “We are initiating coverage of Block, with a BUY rating and $80 price target.” Jefferies upgrades Apple to hold from underperform Jefferies says it sees the potential for an “upside surprise” when Apple reports earnings in late July. “Jun Q results could be a positive surprise, but Sep Q guidance would likely still be subdued.” Jefferies upgrades Ross to buy from neutral Jefferies says it sees “margin opportunity” for the discount retailer. “We upgrade ROST…

[ad_1] New York CNN  —  Microsoft is laying off thousands of employees, its third round of cuts in recent months, the company confirmed on Wednesday. The staff reduction will affect less than 4% of the company’s total workforce, or around 9,000 workers, according to a company spokesperson. It marks the tech giant’s largest layoffs since it cut 10,000 employees in 2023 and comes amid workforce cuts elsewhere in the tech industry. Microsoft’s stock was unchanged following the announcement. “We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,” a Microsoft…

[ad_1] Apple ‘s short-term catalysts may be weighed down by its longer-term risks, according to Jefferies. The bank upgraded the iPhone maker to a hold rating from underperform on Tuesday. Analysts led by Edison Lee accompanied the move by hiking the bank’s price target to roughly $188 per share from $171, suggesting nearly 10% downside from Tuesday’s close. The Tim Cook-led company has tumbled 17% this year. AAPL YTD mountain AAPL YTD chart As a catalyst for the upgrade, Lee pointed to 15% annual growth in iPhone sales volume in April and May, the fastest pace since the third quarter…

[ad_1] Summer internships: where ambition and imposter syndrome so often collide.At KPMG, the tiny fraction of applicants who landed a coveted place on its program are now working to secure a full-time job post-graduation.A summer internship at a Big Four professional services firm is as competitive as it is prestigious. For most interns, the two-month KPMG internship comes after more than 18 months of applications, networking, and building up their resumé. Just 2,200 of more than 42,000 applicants made the cut this year.Business Insider asked KPMG partners, including its head of talent, how they should impress in an office of…

[ad_1] CNN  —  Against a ticking clock, President Donald Trump said Wednesday the United States has reached a trade agreement with Vietnam, pulling off the administration’s third significant deal ahead of a self-imposed July 9 deadline. Still, the state of global trade largely remains in flux. “I just made a Trade Deal with Vietnam,” Trump wrote in a Truth Social post. In a subsequent post announcing more details, Trump said the United States will charge a 20% tariff for Vietnamese exports into America, and a 40% tariff for “transshipping.” Although it wasn’t immediately clear how Trump’s transshipping plan would work,…

[ad_1] The federal government looks like it is taking a page out of Silicon Valley’s playbook.The US Office of Personnel Management issued a memo on June 17 announcing sweeping reforms to performance management in the federal government. And the move to cut low performers looks a lot like what’s been happening at major tech companies.The memo is another step in the Trump administration’s effort to transform the federal workforce. In this case, it’s meant to address “poor performers” while also rewarding those who demonstrate success above and beyond their track records. The memo sets guidelines for employee ratings, addresses poor performance,…

[ad_1] Cantor Fitzgerald joined the bull camp on Rigetti Computing . Analyst Troy Jensen initiated coverage of the quantum computing stock at overweight. Jensen’s $15 price target suggests 32.4% upside over Tuesday’s close. “Quantum computing is in its infancy but remains one of the most highly coveted technical milestones with enormous economical implications,” Jensen wrote to clients in a Tuesday note. “While we are likely years away from full-scale quantum capabilities, the technology has already captured the interest of investors.” While Jensen said quantum is in its “infancy,” he said Rigetti is the leading pure play on superconducting, the type…

[ad_1] Cava has the ingredients for success, according to KeyBanc. Analyst Christopher Carril initiated the Mediterranean chain restaurant’s stock at overweight. Carril’s $100 price target implies 21.5% upside over Tuesday’s closing level. “With few direct competitors, CAVA is the leading brand in the fast growing Mediterranean fast casual segment,” Carril wrote in a Tuesday note to clients. “Like Chipotle did over the last two decades, we believe CAVA has the potential to define the category and bring Mediterranean to new markets across the country.” Carril said new-store returns are among the industry’s strongest, which should allow the Washington, D.C.-based company…