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Trump week one: Bank of America diss; AI, crypto boost; and stock records

President Donald Trump, inaugurated Monday, didn’t miss a beat in getting right to work. In just five days, he has signed a slew of executive orders related to artificial intelligence; cryptocurrencies; and diversity, equity and inclusion, also known as DEI, and he’s promising a shakeup within the federal workforce.  In this edition of the FOX

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Costco shareholders reject anti-DEI measure

Costco shareholders have roundly rejected a proposal calling for a report on the risks associated with keeping its diversity, equity and inclusion (DEI) efforts in place, the wholesale club said Thursday. Preliminary results show that some 98% of shareholders voted against the measure, according to the company. Last month, Costco’s board of directors came out

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UnitedHealthcare announces new CEO after killing of Brian Thompson

UnitedHealth Group on Thursday announced the new leader of its insurance division, UnitedHealthcare, after last month’s alleged targeted killing of former CEO Brian Thompson.  Tim Noel, who most recently served as CEO of UnitedHealth Group’s Medicare and retirement business, will step into the top job at UnitedHealthcare after Thompson’s killing. Noel has worked for the

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Trump’s AI deal fueling early cancer detection: Oracle’s Larry Ellison

Oracle founder Larry Ellison said the massive artificial intelligence (AI) infrastructure project dubbed Stargate is helping to fuel the development of a cancer vaccine.  President Donald Trump announced this week that Oracle, OpenAI and Softbank joined forces to launch Stargate, which will build data centers in the U.S. to power AI. Ellison, also Oracle’s chief

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Trump inheriting fiscal gauntlet

President Trump was sworn in amid much fanfare and celebration, and then he got right to work Monday. He started with a hiring freeze for federal workers and a regulatory freeze as part of a slew of executive orders, but taming the U.S. fiscal situation may prove more challenging.  “The biggest headwind is probably the

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SEC launches crypto task force to create regulatory clarity

The relationship between Wall Street’s top cop and the U.S. cryptocurrency industry is on the mend following more than four years of friction. On Tuesday, the Securities and Exchange Commission announced it is spearheading efforts to establish a regulatory framework for digital assets with the creation of a new crypto task force. The initiative, which

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President-elect Trump launches own cryptocurrency meme coin ahead of inauguration

President-elect Trump took the $3.5 trillion cryptocurrency industry by surprise Friday night, announcing the launch of his own crypto token called $Trump coin. The launch is on its way to becoming one of the most successful in history. In less than 24 hours, $Trump coin rose from just a few cents to around $30, a

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Trump is getting back to business and CEOs are ready

President-elect Trump will take office on Monday, and Wall Street and Corporate America are bracing for a big shift from the past four years. Trump has promised to push his pro-growth policies with tax cuts and big moves that will impact industries such as energy and crypto and what he considers a bloated federal workforce.

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Investment bankers say Trump mergers and acquisitions boom already underway

President-elect Trump doesn’t officially take office for another week, but investment bankers say a boom in Trump-related deal-making is already underway—transactional activity that was stymied by the regulation-heavy Biden administration is poised to explode. This was the conclusion of a panel of investment bankers and private equity executives who discussed the return of corporate deal-making

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Meta cutting 5% of workforce based on performance

Facebook parent Meta on Tuesday announced that it’s planning to cut back its workforce with the reductions focused on the lowest performers, according to an internal memo sent to Meta employees. “I’ve decided to raise the bar on performance management and move out low-performers faster,” Meta CEO Mark Zuckerberg said in the memo. The news was

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