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On the agenda today:
- Merrill Lynch lowers minimums for wealth clients to get in on non-traditional assets.
- Elliott Management wants nothing to do with bitcoin.
- Biden calls on big bank CEOs to push for a debt-ceiling raise.
Before we dive in, join us for a conversation about how employers can support working parents. The hour-long chat is scheduled for Oct. 14 at 1 p.m. ET. Get the details here.
Now, let's get started.
Merrill Lynch wants more wealth clients to get in on non-traditional assets
The wealth manager is lowering minimums for its wealth clients to get in on some non-traditional assets like real estate, private equity, and private credit, according to an internal memo viewed by Insider. The move comes as Merrill Lynch tries to improve employee morale and retain advisors. More on that here.
Elliott Management wants nothing to do with bitcoin
Jonathan Pollock, Elliott's co-CIO and co-CEO, says the firm is steering clear of bitcoin, predicting the Fed will launch an "electronic dollar" that will devalue cryptocurrency. Read what else he said.
Biden called bank CEOs to push for a debt-ceiling raise
CEOs of some of the country's biggest banks met with the president to discuss the potential economic fallout of a debt-ceiling default. Bank of America's Brian Moynihan and JPMorgan Chase's Jamie Dimon attended, warning of the consequences of inaction.
WFH may be dooming us to a future of endless work
While remote work offers employees more freedom than ever before, some experts say that freedom can also be a burden - allowing workers to log on early and stay on late, and keeping them from enjoying life outside of work. Why "work from anywhere" is starting to look more like "work from everywhere."
On our radar:
- Luxury-pool builders are setting minimum prices as high as $500,000 and turning away customers. Inside the infinity-pool shortage.
- BofA is giving $200 to Merrill Lynch staff who confirm that they're vaccinated, Bloomberg Law reports. More on those payments here.
- Banking apps edged out crypto-trading as the fastest-growing finance apps last week. Here are the top 15.
- Almost half of workers say that remote work torpedoed their career progression. Read what workers are saying.
- Career experts share how to answer the most asked interview question: "Tell me about yourself."
Don't forget - we're publishing new puzzles every morning through October 8. Solve today's here.