News & Analysis as of

Banking Sector Elon Musk

Benesch

AI Reporter - May 2025

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The use of AI in banking was a topic in April, as Bank of America revealed it will spend $4 billion on AI initiatives in the coming year. The bank cited AI’s usefulness in reducing IT support calls and the over 90% usage...more

Benesch

AI Reporter - September 2024

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There has been a seismic shift in the relationship between Big Tech’s AI power couple, Microsoft and OpenAI. The former listed the AI pioneer as a competitor in its annual report, perhaps signaling a less friendly dynamic...more

Robins Kaplan LLP

Twitter Sues Musk in Delaware Chancery Court to Force Acquisition

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The other shoe dropped for Elon on Tuesday, with Twitter suing the Tesla CEO in Chancery Court in Delaware to force him to “complete is $44 billion acquisition” of the social media company. That court will now “determine...more

Robins Kaplan LLP

Fed Raises Interest Rates by 50 Basis Points, Biggest Jump Since 2000

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The Federal Reserve made good on Wednesday of months of rate-hike foreshadowing, announcing a half-percentage-point increase in interest rates and detailing a plan to shrink the central bank’s “massive bond holdings.” In...more

Robins Kaplan LLP

U.S. Job Openings (and Quits) Hit All-Time Highs

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U.S. job openings remained strong, “with 11.5 million positions listed as available in March, underscoring the continuing strength of the labor market.” The number of workers voluntarily leaving jobs “also reached a high” in...more

Robins Kaplan LLP

JetBlue Makes Surprise Bid for Spirit Airlines

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JetBlue has made a last-minute $3.6 billion offer to buy Spirit Airlines, “throwing a wrench into Spirit’s plan to merge with Frontier Airlines and create a behemoth budget carrier.” The offer appears calculated to help...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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A collection of corporate heavy hitters are betting big on the blockchain technology behind bitcoin rival Ethereum to build a computing system to track data and financial contracts. The project is seen by some as a way to...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Unfortunately enough for Deutsche Bank, 2017 isn’t starting off much better than the previous year. The German banking giant has agreed to pay a $425 million fine to NY state authorities (and another $204 million to the UK’s...more

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