Funding & Business
Gold Heads for Weekly Gain as ETFs Expand in Run-Up to the Fed
Gold headed for a fourth weekly gain on expectations the Federal Reserve is poised to lower US interest rates, with prices aided by inflows into bullion-backed exchange traded funds and a weaker dollar.
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Bank of America has promoted Jim DeMare and Dean Athanasia to co-presidents. Bloomberg’s Nina Trentmann tells Romaine Bostick and Katie Greifeld on “The Close” the move is part of a broader C-suite shakeup. (Source: Bloomberg)
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Bank of America is planning a shake-up of its senior leadership ranks in a move that narrows the slate of leaders who could one day succeed long-time CEO Brian Moynihan. The discussion involves expanding the role of Jim DeMare, who runs the firm’s trading business, along with promotions for other senior leaders, according to people with knowledge of the matter. Sridhar Natarajan has more on “Bloomberg The Close.”
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The IPO market kicked into high gear this week, with sextet of deals raising more than $4 billion in the busiest period since 2021.
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