Financial Times tests Ask FT, a chatbot trained on decades of its own articles

The Financial Times has a new generative AI chatbot called Ask FT that can answer questions its subscribers ask. Similar to generalized AI bots (like ChatGPT, Copilot, or Gemini), users can expect a curated natural language answer to whatever they want to know — but with answers derived from the outlet’s decades of published information … Read more

Young Americans are rejecting Dave Ramsey’s financial advice — here’s why they say they’re ‘not willing to do anything to get out of debt’

‘I’d rather be caffeinated than depressed with $6’: Young Americans are rejecting Dave Ramsey’s financial advice — here’s why they say they’re ‘not willing to do anything to get out of debt’ Dave Ramsey has fervently preached financial advice to Americans for decades — but younger generations are now slamming the white-bearded radio host for … Read more

Capital One acquiring Discover Financial Services, report says

Sopa Images | Lightrocket | Getty Images Capital One Financial is set to acquire Discover Financial Services, according to a report from The Wall Street Journal. The deal could be announced Tuesday, the outlet said, citing sources. The merger of the two companies, who are among the largest credit card issuers in the U.S., would … Read more

Gen AI financial scams are getting very good at duping work email

More than one in four companies now ban their employees from using generative AI. But that does little to protect against criminals who use it to trick employees into sharing sensitive information or pay fraudulent invoices. Armed with ChatGPT or its dark web equivalent, FraudGPT, criminals can easily create realistic videos of profit and loss … Read more

Samsung Chairman Lee acquitted of financial crimes over merger of companies

Samsung Executive Chairman Jay Y Lee, second from left, was considered to be held back in taking a more active role in the company from the trial. Image: Samsung Samsung Electronics Executive Chairman Lee Jae-yong, also known as JY Lee, was acquitted of stock manipulation and accounting fraud by a South Korean court on Monday … Read more

China’s financial institutions urged to support property developers

An artwork juxtaposing Chinese yuan cash bills with the China’s flag Javier Ghersi | Moment | Getty Images China’s financial institutions should provide strong support to the country’s beleaguered real estate sector and not “blindly withdraw” financing for projects facing difficulties, according to a senior Chinese financial regulatory official. His strongly worded comments follow the … Read more

Financial markets are jonesing for interest rate cuts. Not so fast, says the European Central Bank

FRANKFURT, Germany — European Central Bank President Christine Lagarde will likely push back Thursday against expectations for quick interest rate cuts even as Europe’s economy sputters and financial markets froth in hopes of cheaper credit that would boost business activity and stock prices. She will likely underline that the bank needs to see more proof … Read more

Brown, Yale, and Columbia are among 5 elite schools that agreed to pay $104.5 million to students after being accused of colluding to limit financial aid

Five more elite schools agreed to a settlement to resolve claims they colluded on financial aid. The 2022 lawsuit accused nearly 20 top schools of working in a “price-fixing cartel” to limit aid to students. They did not admit any wrongdoing, and current and former impacted students will receive cash payments. Five more elite schools have … Read more

This surgeon and his wife didn’t realize their financial adviser may have been charging a high fee until Ramit Sethi set things straight

Feeling broke on a $665K salary: This surgeon and his wife didn’t realize their financial adviser may have been charging a high fee until Ramit Sethi set things straight Jeff, 50, is a specialized surgeon. His wife Susan, 48, is a stay-at-home mom. Even though Jeff earns an enviable $665,000 a year, the couple — … Read more