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1. Are you cool, man?
If you have the unfortunate privilege of living in New York City, you've probably noticed weed shops popping up everywhere you look. I know of at least 4 within a two-block radius of my apartment (but who's counting).
And while it's never been easier to get high, that doesn't mean your employer will be as chill with your new hobby. Many big banks, in particular, maintained drug-testing policies for new hires as recently as a few years ago.
Insider canvassed seven big banks that have a significant presence in New York City to get an update on their drug-testing policies. The majority confirmed that they no longer test job applicants for cannabis, with only two, albeit one major player, declining to comment.
To be clear, I'm not suggesting every banker should start dropping tabs of acid before pitch meetings. Wonder drugs can sometimes have dire consequences, as outlined in a recent Insider feature on the rise in ketamine use.
But as the public appetite, and market, for drugs like psychedelics continues to rise, it'll be interesting to see how Wall Street responds.
4. It's JPMangia now. The largest US bank by assets is interested in helping finance a media business for Serie A, the top soccer league in Italy, Reuters reports.
5. Turns out FTX might owe top Wall Street banks some money. Goldman Sachs, JPMorgan, and Wells Fargo were named in a list of possible creditors for the crypto exchange in newly released documents. More on that here.
6. Jerome Powell's next move could define his legacy. All eyes are on the Fed's rate-hike decision on February 1. Here's more on why the move will have a massive impact on how the Fed chairman will be viewed for years to come.
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7. This is not your parents' Franklin Templeton. This story from the Financial Times dives into Franklin Templeton CEO and President Jenny Johnson's effort to modernize a firm long considered old fashioned. Click here to read more.
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