Truist to Sell $5.5 Billion of Loans as It Exits Near-Prime Auto Lending
Truist Financial has inked a deal to sell $5.5 billion of auto loans as part of the regional bank's decision to exit the near-prime auto lending business.
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AI Coding Startup Factory More Than Triples Valuation to $5 Billion
Khosla Ventures, Blackstone and Marc Benioff are among the investors putting $200 million into the startup.
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Legend Names Novartis Executive as CEO
Ingrid Zhang is taking the helm of the cancer therapy company, filling a post vacant since its previous CEO abruptly resigned in July.
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Grab to Buy Majority Stake in SoftBank-Backed Atome for About $1.5 Billion
Grab has agreed to buy a 60% stake in Atome Financial for $1.49 billion in cash.
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AXA Targets More Growth With New Targets
The French insurer said earnings should keep growing over the next few years as it intends to gain market share after years of reorganization.
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OpenAI Buys Startup Developing Smartphone Camera
Glass Imaging, valued above $300 million in the deal, was founded by former Apple employees.
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Abbott Agrees to $385 Million Settlement in Baby Formula Case
Some federal prosecutors believed there was enough evidence to bring criminal charges, but Justice Department leadership opted for a civil settlement.
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Microsoft Sets Limits for AI Models as Altman Details Control Risks
AI companies risk losing control of AI systems and shouldn't wait for governments to regulate the technology, OpenAI Chief Executive Sam Altman has said.
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Accenture to Pay $25 Million to Resolve DOJ Discrimination Claims
The DOJ said Accenture took race or sex into account when making hiring decisions to achieve progress toward non-public workforce composition goals.
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Bank of America CEO Sparks Bank Stock Selloff With One Small Word
Bank of America CEO Brian Moynihan said at a conference on Monday that sales and trading revenue for the fiscal third quarter will be "flat."
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Amazon, Netflix, YouTube Form Coalition to Advocate for Consumer Choice in Online Content
The three companies are founding members of a new Streaming Access and Choice Alliance that will advocate for consumer access to online content.
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Dell's DFO-Led Consortium Taking Baldwin Group Private for Enterprise Value of $7.7 Billion
A consortium led by Dell Chief Executive Michael Dell's DFO Management is taking insurance brokerage Baldwin Group private in a cash deal valued at $7.7 billion.