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“She always beats me into the office.”
Gavin Romm, a portfolio manager at financial giant AB, isn’t talking about a senior executive at the firm or the new summer intern. He’s talking about Abbie, the 12-week-old AI-powered personal assistant that is quickly taking over fixed income trading at the $US500 billion money manager.
Abbie, which is like Amazon’s Alexa but for Wall Street, is today used to complete mundane and repetitive tasks that might otherwise fall on junior level employees.
The ultimate goal for Abbie is to negotiate million dollar trades with other financial firms. Here’s our story.
In deal news, Starbucks is rallying after Nestlé agreed to pay $US7.15 billion to sell its coffee around the world. And AthenaHealth is soaring after Elliott Management made a $US6.9 billion buyout offer.
In markets news:
- Some of the biggest names on Wall Street are sounding the alarm on an overlooked threat that could make the next recession way worse
- GOLDMAN SACHS: This is the perfect environment for bank stocks – here are 7 reasons why they’re set to spring higher
- Stocks are trapped between 2 key levels, and Bank of America has identified how they can escape
- Oil prices have been screaming higher – and that’s actually good news for airlines this time around
- Apple just hit another record high
Warren Buffett’s Berkshire Hathaway had its annual meeting over the weekend. Here are the highlights:
- Warren Buffett responds to Elon Musk’s criticism that one of his core investment principles is ‘lame’
- Warren Buffett defends doing business with gun manufacturers after questioner claims it’s at odds with everything he stands for
- ‘Harvey Weinstein has done a lot for improving behaviour’: Charlie Munger says finding bad people helps businesses and society
- BUFFETT: Wells Fargo committed the ‘cardinal sin’ – but we’re sticking by them
- ‘It didn’t produce anything:’ Warren Buffett uses $US10,000 to demonstrate why buying gold is much worse than buying stocks
- WARREN BUFFETT: Bitcoin is ‘probably rat poison squared‘
- BUFFETT: I don’t think the US and China will end up in a trade war
- Warren Buffett shares the epiphany he had in 1942 that dictated the rest of his investment career
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