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   DealBook: The Epstein files shake up Goldman
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             February 13, 2026
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         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Good morning. Andrew here.
         </span>
         <span>
          We’re going behind the scenes of the resignation of Kathryn Ruemmler as Goldman Sachs’s general counsel, amid revelations from the Epstein files that have roiled the firm for weeks.
         </span>
        </p>
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          We’re also looking at another departure this A.M. — that of Gail Slater, the leader of the Justice Department’s antitrust division — and what it means for deal-making. And we have a fun Q.&amp;A. with the chief of HPE on how he uses A.I. (Was this newsletter forwarded to you?
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          Sign up here.
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          )
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            <img alt="Kathryn Ruemmler, a top Goldman Sachs lawyer, is seen seated and looking forward, as a group of people behind her look on." class="css-3vswge" height="400" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F02%252F13%252Fmultimedia%252F13db-ruemmler-wzhp%252F13db-ruemmler-wzhp-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzA5ODgzNTEuMjgyMTIwMn0:1vqsyF:thQO4NkWocPRWnIVjno9y5aXvtHkpdT9YNmy1hShQF0" style="width:100%;height:auto;display:block;padding-top:10px;padding-bottom:8px" width="600"/>
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            <span style="color:#666;font:normal 14px georgia,serif">
             Kathryn Ruemmler, Goldman Sachs’s top in-house lawyer whose ties to Jeffrey Epstein have become a major talking point on Wall Street, has announced her resignation.
            </span>
            <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
             Charles Dharapak/Associated Press
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Goldman’s top lawyer heads for the exit
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Another giant of corporate America has fallen because of ties to Jeffrey Epstein.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Kathryn Ruemmler, Goldman Sachs’s general counsel,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          will step down
         </a>
         <span>
          in June, after explosive news about her ties to the convicted sex offender emerged from the Justice Department’s latest release of Epstein files.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Her planned departure comes after weeks of growing scrutiny.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The context:
         </span>
         <span>
          The agency’s disclosures have led to repercussions across Washington, Wall Street, Hollywood and Europe. Brad Karp, the longtime C.E.O. adviser,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          resigned as chair
         </a>
         <span>
          of the law firm Paul Weiss; Casey Wasserman, the entertainment mogul, has lost
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          prominent
         </a>
         <span>
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          clients
         </a>
         <span>
          ; and
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Steve Tisch
         </a>
         <span>
          , the co-owner of the New York Giants, is undergoing
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          scrutiny by the N.F.L.
         </a>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-style:italic">
          Just in:
         </span>
         <span>
          Sultan Ahmed bin Sulayem, the C.E.O. of the Dubai-based ports giant DP World,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          is stepping down
         </a>
         <span>
          after
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          his exchanges with Epstein
         </a>
         <span>
          became public.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Newly published documents showed closer ties between Ruemmler and Epstein.
         </span>
         <span>
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          News
         </a>
         <span>
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          reports
         </a>
         <span>
          had already documented how Ruemmler, a superstar litigator who worked in the Obama administration, had been in the disgraced financier’s orbit. But the latest Justice Department release revealed a trove of communication between the two, including about potential jobs, her romantic life and gifts Epstein had given her. (She called him “sweetie” and “Uncle Jeffrey.”)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Goldman and Ruemmler have said that Epstein was never her client. But the newly released documents showed that she helped him edit a legal document defending his 2008 agreement to plead guilty to soliciting prostitution from a minor, and that she
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          coordinated strategy
         </a>
         <span>
          for a planned ABC News segment featuring the Epstein accuser Virginia Roberts Giuffre. (The segment never aired.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Reports suggest tensions were growing at Goldman regarding Ruemmler.
         </span>
         <span>
          She was front and center at a meeting of the firm’s partners last week, suggesting that her job wasn’t in jeopardy, according to The Times. And the firm worked with the prominent defamation lawyer Tom Clare, who pushed back on reporters’ descriptions of Ruemmler’s relationship with Epstein. (Goldman had
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          denied a Wall Street Journal report
         </a>
         <span>
          that John Rogers, the firm’s powerful board secretary, had worked on a departure plan for Ruemmler.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          But many Goldman executives were baffled by the show of support, The Times and other news outlets reported. And an unidentified source described as being close to a Goldman director told The Financial Times that the Ruemmler scandal was
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          an embarrassing distraction
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          In a memo announcing Ruemmler’s planned departure, David Solomon, Goldman’s C.E.O., described her as “an extraordinary general counsel” and that “she will be missed.”
         </span>
        </p>
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             HERE’S WHAT’S HAPPENING
            </span>
           </h3>
          </td>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Global stocks sell off ahead of today’s U.S. inflation report.
         </span>
         <span>
          S&amp;P 500 futures are down today, as are markets in Asia and parts of Europe, after yesterday’s rout in tech stocks. (Traders blamed the so-called
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          artificial intelligence scare trade
         </a>
         <span>
          for the rout.) Wall Street will be closely watching today’s Consumer Price Index report, which is expected to show that
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          inflation is cooling slightly
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Anthropic clinches a $380 billion valuation as I.P.O. anticipation grows.
         </span>
         <span>
          The A.I. start-up, whose Claude models spurred many of the fears rocking public stocks,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          closed a $30 billion fund-raising round
         </a>
         <span>
          that included support from Nvidia and Microsoft. (Both tech companies, as well as
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          several venture capital firms
         </a>
         <span>
          , have also invested in OpenAI.) Anthropic’s valuation has roughly doubled since September, as the company pursues an I.P.O. as soon as this year.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The Department of Homeland Security faces a shutdown.
         </span>
         <span>
          Senate Democrats
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          blocked a spending bill
         </a>
         <span>
          yesterday to fund the agency, arguing that the legislation did not include their demands for new restrictions on federal immigration agents. Hours before the vote,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Tom Homan
         </a>
         <span>
          , President Trump’s border czar, said that the administration would pull immigration agents from Minnesota.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          U.S. consumers and companies pay the brunt of the Trump tariffs, data shows.
         </span>
         <span>
          American households and firms have
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          paid about 90 percent of levies
         </a>
         <span>
          through November in the form of higher prices, according to new research by the New York Fed and Columbia University, contradicting the president’s claim that importers shouldered the cost. Fearing consumer backlash, the Trump administration is said to be weighing
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          scaling back some steel and aluminum tariffs
         </a>
         <span>
          , The Financial Times reports.
         </span>
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          A wild west for M.&amp;A. from now on?
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          After just under a year on the job, one of President Trump’s top competition cops is leaving.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          departure of Gail Slater
         </a>
         <span>
          , who led the Justice Department’s antitrust division, raises questions about how the Trump administration will police proposed mergers now — and whether the process will become more overtly political.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Slater initially started the job with plenty of support.
         </span>
         <span>
          A longtime Washington lawyer who had advised JD Vance when he was a senator, she was expected to be an antitrust enforcer who would generally be more permissive toward M.&amp;A. — except when it came to tech giants.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That didn’t seem to bother Trump: “Big Tech has run wild for years, stifling competition in our most innovative sector,”
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          he wrote
         </a>
         <span>
          in December 2024, announcing Slater as his pick for the Justice Department role.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          But politics has mattered as much as antitrust theory.
         </span>
         <span>
          Some deal makers have taken to arguing for their mergers directly to Trump officials or those in the president’s orbit, often traveling to the White House or Mar-a-Lago in Florida. (Consider that the C.E.O.s of
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Netflix
         </a>
         <span>
          and
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Paramount
         </a>
         <span>
          , both vying for control of Warner Bros. Discovery, have met with Trump.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Other Trump competition officials have tended to hew closer to the White House line. Brendan Carr, the head of the F.C.C., backed Nexstar’s $3.5 billion takeover of Tegna
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          soon after the president did
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Slater’s role was seen to be shrinking.
         </span>
         <span>
          Last summer, the Justice Department agreed to approve HPE’s $14 billion takeover of Juniper Networks, months after the agency had sued to block the deal.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Slater was skeptical of clearing
         </a>
         <span>
          the transaction on antitrust grounds, but was overruled.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Two of Slater’s deputies
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          were fired
         </a>
         <span>
          shortly after the settlement. One, Roger Alford, later said
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          the men had been dismissed
         </a>
         <span>
          because of lobbyists pressing senior Justice Department officials.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          What lies ahead:
         </span>
         <span>
          DealBook hears that some legal M.&amp;A. advisers think Slater’s departure makes their jobs harder, at least in the short term.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          When the fate of deals depends more on political considerations than just traditional antitrust metrics, expertise in matters like the
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Herfindahl-Hirschman Index
         </a>
         <span>
          matter a lot less — and the endgames become a lot less predictable.
         </span>
        </p>
        <table width="100%">
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        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Breaking away
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          For years, European officials have been sounding the alarm to no avail over the continent’s reliance on American tech and financial services. Case in point: Nearly two-thirds of every card transaction in the Eurozone is handled by non-European companies, almost all by Visa or Mastercard.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Now, President Trump’s trade war — as well as his threats to annex Greenland — is restarting interest in efforts within the E.U. to develop rival platforms for European businesses and consumers. That includes a sovereign payment system to handle trillions of dollars in transactions, Vivienne Walt reports.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Distrust between Brussels and Washington is sky-high.
         </span>
         <span>
          Europeans are openly discussing ways to wean themselves off
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          American weapons
         </a>
         <span>
          and
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          software
         </a>
         <span>
          , Elon Musk’s Starlink
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          satellite internet service
         </a>
         <span>
          and to sell
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          American financial assets like Treasury bonds
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The big decoupling question is expected to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          loom large at the Munich Security Conference
         </a>
         <span>
          , which begins in Germany today.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “We have seen things that are unthinkable,”
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
         </span>
         <span>
          Piero Cipollone, an executive board member of the European Central Bank, told DealBook.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Creating a European sovereign payment system is long overdue,
         </span>
         <span>
          Cipollone said. Banks in 13 eurozone countries offer their customers debit cards that are valid only for domestic purchases. Cipollone likens that to being unable to pay for a Starbucks coffee in Seattle using your New York bank card.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “We are highly dependent on” on international payment systems, Martina Weimert, C.E.O. of the European Payments Initiative,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          told The Financial Times
         </a>
         <span>
          this month. The E.P.I. is a consortium of 16 European banks and financial services companies that in 2024 introduced the Wero, a kind of Apple Pay competitor that has failed to gain much traction.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “We don’t have anything cross-border,” Weimert added, as she urged the industry to get serious about taking on the Visa-Mastercard duopoly.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          There is also a big push for a digital euro.
         </span>
         <span>
          Think of it as a smartphone wallet for digital cash that can be tied to people’s bank accounts. It would work across the euro bloc — and, most important, cut out the need for American financial firms. (Banks, however, are worried about the digital euro
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          eating into their deposits
         </a>
         <span>
          .)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          E.U. politicians this week
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          voted in favor of the initiative,
         </a>
         <span>
          which is expected to be available widely by 2029.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The project has the backing of the European Central Bank as well. Christine Lagarde, the E.C.B. president, argued this week that the digital euro would be free of “
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          dependency on foreign providers for payment systems
         </a>
         <span>
          ” — though she didn’t name Visa or Mastercard — and called it “critical to the functioning of our economy.”
         </span>
        </p>
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            <img alt='A blue bubble with white text that reads, "How do you use A.I.? What are your best use cases?" The bubble underneath indicates a pending response.' class="css-xsf469" height="167" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2025%252F06%252F27%252Fbusiness%252Fdb-talking-ai-new%252Fdb-talking-ai-new-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzA5ODgzNTEuMjgyNzg0fQ:1vqsyF:Xy5U3xGruygAPuuLpHhdFTcxkQbGXV_mzW-O0a2VWlA" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:20px;line-height:0" width="500"/>
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Talking A.I. with the Head of HPE
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-style:italic">
          Every week, we’re asking a leader about artificial intelligence. Antonio Neri, who leads the enterprise technology company HPE, told The Times’s Jordyn Holman that he uses A.I. to prepare for earnings calls. His answers have been condensed and edited.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          How are you personally using A.I.?
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          I use it more to understand the psychology of The Street, to be honest with you.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Wall Street?
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          If you think about Wall Street — how trading is done, how communications are delivered — every word matters. Every word gets picked apart. They even measure your intonation. I have an accent, so it makes it a little bit challenging. Marie Myers, our C.F.O., has done a fantastic job deploying A.I. tools.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          So how are you prompting the A.I.?
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          There is a consensus that gets developed. That consensus is based on a series of data and reports that people write on the sell side, the financial community side. There is a series of reactions in the last few earnings about our messaging.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          So we put it all together and we said, “OK, what are the sweet spots that this community is interested in, and how can we be more efficient in delivering our message?”
         </span>
        </p>
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             THE SPEED READ
            </span>
           </h3>
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          Deals
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              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Recent market turmoil has
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                dented enthusiasm for I.P.O.s
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                . It remains unclear how much investor appetite there is for an expected mountain of
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                debt offerings by tech giants
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                . (Bloomberg, CNBC)
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Paramount is said to be weighing
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                adding a major Warner Bros. Discovery shareholder
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                to its board nominees in an effort to bolster its hostile takeover bid for the entertainment giant. (FT)
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          Technology and artificial intelligence
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                Ernst &amp; Young, Meta’s auditor, raised concerns about the tech giant’s effort to keep a
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                $27 billion data center project off its books
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                . (WSJ)
               </span>
              </li>
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Anthropic said it would pay for upgrading its data centers, and that “A.I. companies shouldn’t leave American ratepayers to
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                pick up the tab
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                .” (Business Insider)
               </span>
              </li>
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          Best of the rest
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                “Americans With Higher Incomes Are
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                Starting to Fall Behind on Payments
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                ” (WSJ)
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               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                place bets on Polymarket
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                ; Israeli media reported that winning bets preceded the Israeli military clash with Iran last summer. (AP)
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