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Business News

JPMorgan Chase to End Hybrid Work and Return to 5-Day Office Schedule

JPMorgan Chase is set to implement a new policy requiring all employees to return to the office five days a week, ending its hybrid work option. The change will affect thousands of workers and bring the bank back to its pre-pandemic attendance standards, with a current three-day mandate for many staff. The policy shift, expected to be announced soon, will impact approximately 60% of the bank's workforce, including traders and retail branch employees. CEO Jamie Dimon has long advocated for in-person work, believing it fosters better collaboration, a stance that contrasts with some rival firms still offering flexible work arrangements.

Getty Images and Shutterstock Announce $3.7 Billion Merger

Getty Images and Shutterstock have agreed to a $3.7 billion merger, combining their extensive libraries of visual content. This deal, expected to save the companies $150 million to $200 million annually, will create a stronger competitor in the visual content market, especially against big tech firms leveraging AI in content creation. Getty Images CEO Craig Peters highlighted the merger as a step toward enhancing content offerings and expanding event coverage. Getty shareholders will own 55% of the combined company, with Getty's stock seeing a 45% surge following the announcement. Meanwhile, Adobe's stock saw a slight decline as it faces intensified competition in the creative AI sector.

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Tip of the Day

Set Clear, Achievable Goals

Define your business goals for the year ahead with measurable milestones. Break them down into manageable tasks to keep your team aligned and focused, and regularly track your progress to stay on course.