AIAutomationFinance

OpenAI’s Secret Project Mercury Enlists Wall Street Veterans to Automate Banking Tasks

OpenAI is quietly recruiting Wall Street veterans for Project Mercury, a secret initiative to develop AI that automates investment banking tasks. Participants reportedly receive $150 per hour to train models on financial analysis and modeling.

OpenAI’s Covert Banking AI Initiative

OpenAI is reportedly developing artificial intelligence specifically designed to handle the tedious work performed by junior investment bankers, according to documents reviewed by Bloomberg. The secretive project, code-named Mercury, has enlisted former employees from major financial institutions including JPMorgan Chase, Morgan Stanley, and Goldman Sachs to help train its systems.

BusinessPersonal Finance

India Clearing House Expands Corporate Bond Repo Participation: Key Developments and Market Impact

India’s clearing corporation is driving greater participation in corporate bond repos, aiming to deepen market liquidity. This move aligns with broader financial reforms and technological advancements in trading infrastructure.

India’s financial infrastructure is undergoing a significant transformation as the clearing house actively promotes increased user engagement in corporate bond repurchase agreements (repos). This strategic push aims to enhance liquidity, reduce borrowing costs, and strengthen the country’s debt market, positioning India as a more attractive destination for both domestic and international investors. By fostering a robust repo market, authorities hope to mirror the efficiency seen in developed economies while adapting to local regulatory frameworks and economic conditions.

Understanding the Corporate Bond Repo Mechanism in India

Economy and TradingPolicy

Macron’s Pension Overhaul Suspended: French Government’s Political Gambit Explained

President Emmanuel Macron’s administration proposes suspending pension age increases until after the 2027 presidential election. This strategic retreat aims to stabilize France’s fourth government in under a year while addressing widespread opposition to retirement reforms.

In a dramatic political reversal, the French government has moved to suspend President Emmanuel Macron’s signature pension overhaul, marking a significant retreat for the embattled leader. The proposed suspension would delay retirement age increases until after the next presidential election in 2027, representing a strategic pause in one of Macron’s most controversial domestic policies.

Political Context and Government Crisis