Wall Street’s back to the office

thief

Hiya.

We talked yesterday about JPMorgan acknowledging in a company-wide memo that some of its customers abused government programs meant for coronavirus relief. In the company-wide memo, it also noted "some employees have fallen short, too."

The memo, which was first reported by Bloomberg, was odd in that it was extremely vague regarding what the actual wrongdoing was. 

It turns out, according to Bloomberg, JPMorgan's own employees were tapping funds meant for businesses hurt by the coronavirus. 

The entire story is worth a read, but this section stood out to me.

The bank discovered the actions, all of which were tied to the Economic Injury Disaster Loan program, after noticing that suspicious amounts of money had been deposited into checking accounts owned by bank employees, said the person, who asked not to be identified because the information is private. 

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Back to the office for big banks

coronavirus office worker
An operator wearing a protective face mask works in a call centre for contact tracing, May 8, 2020 in Brussels, Belgium.

The first day back to work after Labor Day is usually tough. The holiday marks the unofficial end to summer, and means things at work typically kick into high gear.

This year, however, was particularly hard for some folks as it meant a return to the office for the first time in six months. 

Reed Alexander has the full rundown on what the return-to-office plans are for some of the biggest firms on Wall Street. 

Click here to read the full story.


Robinhood salaries revealed: From $322,000 a year to $18 an hour, this is how much the fintech unicorn pays its employees

disney robin hood animated movie

How much do you get paid working at one of the hottest fintechs in the world? It depends. Julie Bort and Alex Nicoll have the rundown on what employees at Robinhood get paid. Click here for the full story.


Palantir CEO Alex Karp's first pitch to public investors: 'Don't invest in Palantir'

Alex Karp — CEO of Palantir Alex Karp speaks to the press as he leaves the Elysee Palace in Paris, on May 23, 2018 after the "Tech for Good" summit, in Paris, France, on May 23, 2018.
Palantir CEO Alex Karp

Palantir had its first investors day Wednesday, and it was very on-brand for a company that has long been viewed as secretive and quirky. The pitch included Alex Karp, Palantir's CEO, labeling the company "just different," which seems like an adequate explanation for convincing people to invest in your company. Becky Peterson, Meghan Morris, and Aaron Holmes have all the details here.


Odd lots:

JPMorgan tech salaries revealed: Here's what developers and engineers get paid at Wall Street's biggest bank (BI)

Amazon just leased a new space in Brooklyn to house recording studios for its music-streaming service, as Big Tech keeps gobbling up space while the office market flounders (BI)

Young Living Essential Oils CEO Mary Young downplays the pandemic after her own employee died from COVID-19, 2 employees say (BI)

A former PwC partner who sued the firm for $15 million just had a major setback in his case, pushing the pay spat behind closed doors (BI)

'Lean Startup' guru Eric Ries just launched a new stock exchange that values companies based on principles like employee wellbeing, diversity, and inclusion. Take a look at how it works. (BI)

A new twist on direct listings could trigger more big lawsuits against buzzy startups over valuations, lawyers say (BI)

Accenture is cutting more low performers across the 500,000-plus person firm as fewer employees are jumping ship on their own (BI)

Inside the surreal life of a young couple who won a viral contest to live for free on a remote Irish island without electricity or hot water (Insider)

Read the original article on Business Insider

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