| July 14, 2025 | "Irreverent, but never irrelevant" | | |  | John Lothian
Publisher
John Lothian News | |
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Hits & Takes
John Lothian & JLN Staff
Hiromi Yamaji, the group CEO of Japan Exchange Group, says in a LinkedIn video that Japan is at a historic turning point as the economy emerges from deflation, corporate earnings strengthen, and investment in automation, digitalization, and AI acceleration. He highlights that ongoing corporate governance reforms are fueling further growth. As a market operator, JPX aims to provide an accessible and transparent platform for global investors and to foster meaningful dialogue between investors and companies, ultimately supporting the growth of both the Japanese market and the broader economy.
Stephane Boujnah, the CEO and chairman of Euronext, in a weekend LinkedIn post, emphasized that European aerospace and defence companies urgently need to boost innovation and production to secure Europe's strategic autonomy. Euronext is addressing these needs by connecting companies with growing investor interest through initiatives like the inaugural European aerospace and defence funding days, which facilitated 190 meetings between 25 companies and 90 investors. The recent launch of the European Defence Bond Label aims to channel private capital into defence and security projects, with over 7 billion Euros already raised via more than 15 bonds. Euronext will soon introduce the European Aerospace and Defence Growth Hub to support supply chain companies with financing and managerial development, and in 2026 it will debut IPOready Defence, a comprehensive training program for entrepreneurs preparing for public offerings. Through these targeted efforts, Euronext is accelerating capital access and fostering growth in Europe's aerospace and defence sector.
John Pletz of Crain's Chicago Business reports that personal bankruptcy filings are rising sharply across the U.S. as pandemic-era financial protections fade and higher costs and interest rates strain household budgets. In Cook County, filings jumped 12.5% to 14,115 in the year ending March 31, while across the Northern District of Illinois, non-business bankruptcies climbed 10.4% to 21,148. Nationally, filings surged 13.2% to over 500,000-the highest since 2020-reflecting mounting consumer stress as credit card delinquencies and living expenses rise. Bankruptcy attorneys and credit counselors report a significant uptick in Chapter 7 filings and counseling sessions, with some regions like central California seeing year-over-year increases as high as 70%. Experts cite the end of pandemic relief funds, resumed student loan collections, and escalating debt delinquencies as key drivers, warning that foreclosures and defaults are likely to continue increasing as financial pressures mount.
Former CBOT bond trader Ricky Halverson has died at the age of 67. Halverson grew up on the west end of Geneva Lake, Wisconsin, from about the age of 12, and was part of a group of friends in Fontana that included CQG's Pat Kenny. Halverson's route to the CBOT was through John and Brian Porter, for whom he clerked; John Porter was also once my sailboat racing instructor. Halverson worked for Ron Monaster and then traded for a considerable amount of time. After leaving trading, he pursued a nursing degree at Truman College in Chicago. Sadly, his brother Scott died five days after he did, and another brother, Terry, died six weeks ago.
Here are the headlines from in front of FOW's paywall from some recent stories: India's NSE sets up cross-town rivalry with first power futures contract, Eurex launches world's first MSCI Korea futures contract ANALYSIS: SIX Group aiming for bigger slice of Euro swaps clearing market.
Late Friday afternoon, my fever finally broke. I feel much better and look forward to a more productive week.
Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality, and justice.~JJL
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Our most-read stories from our previous edition of JLN Options were:
- Citadel Securities Buys Morgan Stanley's Options Market Maker from Bloomberg.
- Why Wall Street Isn't Too Concerned About Tariffs from The Wall Street Journal.
- In Ominous Sign, Sellers Are Vanishing as US Stocks Smash Record from Bloomberg. ~JB
Subscribe to the JLN Options Newsletter HERE (it's free).
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 Kynetix CEO: Data Trust and Adaptability Key as Post-Trade Tech Evolves JohnLothianNews.com LONDON, UK-(JLN)-July 14, 2025 - Trust in data and the ability to adapt to rapid regulatory and market changes are central to the future of post-trade technology, according to Matt Dolton, CEO of Kynetix. Speaking with John Lothian News at FIA IDX in London, Dolton emphasized the importance of robust data processing tools. "Firms being able to trust their data is absolutely vital. What HelloZero does is it enables firms to ingest and process a wide variety and large volumes of trade position, valuation type data, pricing data, and prepare that really fast," Dolton said, noting that the platform can help clients stay ahead of competitors. Watch the Matt Dolton Video »
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Republicans Just Attacked US Innovation; The damage the GOP tax bill will cause to cutting-edge science and technology will be felt for decades.
Gautam Mukunda - Bloomberg
President Donald Trump's "One Big Beautiful Bill" is now law. That means Americans should prepare for a multi-trillion dollar tax cut that will overwhelmingly benefit the wealthy, a more than $1 trillion cut to Medicaid and other safety-net programs, a $5 trillion increase in the debt ceiling and a $150 billion boost to the administration's crackdown on immigration. But there's also another critical impact that's harder to put a figure on: This bill is a declaration of war on American science and innovation.
/jlne.ws/44sQ5KV
***** I wish the bill addressed an important issue, such as reducing the budget deficit, rather than adding a projected $3.3 trillion to the federal deficit over the next decade, according to the Congressional Budget Office. I won't speak to the economics of it, but cutting taxes by $4.5 trillion while the U.S. is projected to run a $1.9 trillion budget deficit for 2025 is irresponsible. If you have the political power to get things done, then make things better, don't dig a deeper hole in the Treasury.~JJL
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Mahathir Mohamad: Trump Is 'Against the Whole World'; Malaysia's longest-serving prime minister weighs in on US tariffs, Beijing's tactics in the South China Sea and what it takes to stay healthy at 100.
Mishal Husain - Bloomberg
What should countries in the firing line of US trade policy make of the back and forth on tariffs? This week, President Donald Trump extended the 90-day pause on his 'Liberation Day' tariffs through Aug. 1, while also threatening additional levies on Brazil and on nations whose Iran stance he perceives as anti-American. That means countries from South Africa to Japan are continuing to scramble on negotiations, with many feeling unjustly targeted even as they remain diplomatic in public. From the freedom of retirement, however, Malaysia's veteran former leader tells me exactly what he thinks of the Trump approach: "It's going to damage America more than the rest of the world."
/jlne.ws/4lSt1uX
****** Trump is breaking the first rule of my mother-in-law about never putting two people in the dog house at the same time, lest they gang up on her. In his case, Trump is putting the whole world in the doghouse at the same time, which is way too many dogs with the potential to conspire against him and the U.S. ~JJL
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Does the US have Dutch disease? The exorbitant burden of exporting dollars makes it hard for America to govern at home
Brendan Greeley - Financial Times
In the late 1960s, after the discovery of natural gas deposits in the North Sea, the Dutch economy changed dramatically over a relatively short period. In 1964, the country had exported almost no gas; a decade later it exported the equivalent of 74mn tons of oil. The gas exports raised the value of the guilder, and taxes on the windfall allowed the Dutch to increase social spending, as research by Michael Ellman of the University of Amsterdam in the late 1970s showed. This squeezed manufacturers outside the oil sector at both ends. Costs went up at home, and exchange rates made it harder to export. In the Netherlands, an obvious advantage - a sudden boom in natural gas exports - turned into a disadvantage: a hit to domestic manufacturing. By 1975, the output of the clothing industry in the Netherlands had dropped by 15 per cent. For footwear, it dropped more than 50 per cent.
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***** The U.S. commodity export is dollars, and that giant blowing sound is the world giving them back to us.~JJL
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Friday's Top Three
Our top story Friday was the Financial Times' Trading firms Virtu and Citadel Securities clash over new options exchange. Second was Financial Center News / 11 July 2025, a LinkedIn post from Jochen Biedermann, managing director of the World Alliance of International Financial Centers (WAIFC). Third was Trading giant Virtu backs plan for IEX's proposed options exchange, from Reuters.
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| Lead Stories | EU warns Trump's 30% tariffs would eliminate transatlantic trade; Bloc's trade commissioner Maros Sefcovic issues caution as ministers meet to consider retaliatory measures against US
Andy Bounds - Financial Times
Trade between the EU and US will be "almost impossible" if Donald Trump imposes the 30 per cent tariffs he has threatened, the bloc's trade commissioner has said. Maros Sefcovic's comments ahead of a meeting of EU trade ministers on Monday came after the US president warned over the weekend that he would impose duties at that level on the EU from August 1.
/jlne.ws/4lVZy3m
Bitcoin hits $120,000 milestone as US Congress readies for 'crypto week'; New record price comes as lawmakers prepare series of bills designed to make US 'world's crypto capital'
William Sandlund - Financial Times
Bitcoin hit a record $120,000 on Monday as US lawmakers prepared to vote this week on legislation aimed at making America the world's "crypto capital". The world's largest cryptocurrency climbed 2.8 per cent to as high as $122,404, taking its gain to over 10 per cent in the past week and extending a blistering rally since Donald Trump's election victory. Over the next week, lawmakers in the Republican-controlled House will debate the Genius Act, the Digital Asset Market Clarity Act, and the Anti-CBDC Surveillance State Act.
/jlne.ws/4o4tCM7
****Here is that story from Bloomberg.
Mysterious Option Trades Put Spotlight on Key Indian Stock Index
Chiranjivi Chakraborty - Bloomberg
As India's securities regulator ramps up scrutiny of the options market, some investors are pointing to mysterious moves in contracts tied to the nation's benchmark index as evidence of questionable trading activity. Traders say one tell-tale sign of abnormal price action can be seen in the so-called straddle on the NSE Nifty 50 Index. A hard-to-explain increase in its price during expiration days has become a common sighting in recent years, though it doesn't always happen. It was visible as recently as mid-May.
/jlne.ws/462mb1g
Jane Street deposits $560mn in step to lift India trading ban; Regulator restricted New York-based trading firm from dealing securities in country over alleged market manipulation
Krishn Kaushik - Financial Times
Jane Street has deposited more than $560mn of what India's markets regulator has called "illegal gains" in an escrow account to comply with an order that temporarily banned the company from trading securities over alleged market manipulation. The Securities and Exchange Board of India said on Monday that Jane Street had informed the regulator that Rs48.4bn ($564mn) had been "credited to an escrow account with a lien marked in favour of Sebi".
/jlne.ws/3Iq6lnk
Jane Street Sets Aside $564 Million as India Probe Continues
Ruchi Bhatia, Chiranjivi Chakraborty, and Bei Hu - Bloomberg
Jane Street Group LLC has deposited 48.4 billion rupees ($564 million) in an escrow account to comply with an order from India's securities regulator, part of an ongoing probe into allegations of market manipulation by the US trading giant. While Indian authorities had previously indicated the deposit would allow Jane Street to return to local markets after a ban imposed on July 3, the regulator's statement on Monday didn't clarify whether the firm has a green light to resume trading. The Securities and Exchange Board of India has accused Jane Street of manipulative transactions involving local options and shares - allegations that the firm has denied.
/jlne.ws/4eO5Csh
Crypto exchanges rushed to list Trump's coin, leaving many losers and some big winners
Hannah Lang, Elizabeth Howcroft, Michelle Conlin and Medha Singh - Reuters
Crypto exchange Coinbase assures users on its website that it puts any new digital coin through "rigorous" vetting before allowing it to trade. It's an at-times lengthy process meant to protect customers by examining the people connected to the project and the risk of market manipulation or other scams. With President Donald Trump's crypto token, $TRUMP, Coinbase made up its mind in just one day.
/jlne.ws/44HoJiY
Robinhood's Private Stock Tokens Lure Investors, Draw Scrutiny
Paige Smith - Bloomberg
Robinhood Markets Inc. started offering "tokenized" equities - cryptocurrency's version of company shares - on Monday, June 30, hoping to usher in a new, 24-7 era of blockchain-based stock trading in Europe that would, eventually, migrate to the US. The blowback has been swift. Two days after the debut, which was accompanied by a $1 million giveaway of OpenAI tokens, that company warned Robinhood customers off the securities. Shortly after, the Bank of Lithuania, Robinhood's primary regulator in the EU, sent questions to the brokerage.
/jlne.ws/3GKK2rX
Investment banking set to extend worst run in over a decade; Big US banks have relied on traders for at least 75% of their Wall Street revenues for more than three years
Joshua Franklin - Financial Times
Investment banking is on course to extend a record streak of underperformance, supplying less than a quarter of Wall Street revenues at the biggest US banks for the 14th quarter in a row. Traders are due to come to the rescue of their advisory colleagues once again when the banks report second-quarter results this week, with total trading revenues at the five largest Wall Street banks forecast to be $31bn - more than four times the figure for investment banking.
/jlne.ws/3GIpjVG
Thieves Target Copper by the Truckload as Prices Rise; Reports of copper theft from trucks are rising even faster than the metal's soaring value
Paul Berger - The Wall Street Journal
Thieves are mining the trucking industry to steal copper as the value of the metal soars. Reports of copper theft from trucks are rising even faster than the price of the metal, which is used in products ranging from cars to construction materials. The benchmark futures price in the U.S. hit an all-time high this week after President Trump said tariffs of 50% on copper imports would take effect on Aug. 1. Criminals increasingly have been targeting copper because of rising demand for the metal in fast-growing sectors of the economy such as renewable energy and data centers. Copper prices are up globally and have surged more than 35% in the U.S. this year.
/jlne.ws/4lRcgQC
The Fed Is Built to Resist Trump's Meddling; Efforts to influence monetary policy are unfortunate and misguided, but the central bank is not a dictatorship directed by the chair.
Jonathan Levin - Bloomberg opinion
President Donald Trump hasn't made any secret of his thinking on monetary policy: He intends to replace Federal Reserve Chair Jerome Powell with someone who will cut interest rates once they take over next year, if not sooner. Fortunately, America's central bank was built to prevent such a coup from the executive branch. That's why financial markets have been taking Trump's antics in stride, try as he might to undermine the Fed's independent, technocratic tradition.
/jlne.ws/4eKvWn0
Education Tech Firm McGraw Hill Seeks $537 Million in IPO
Natalia Kniazhevich - Bloomberg
McGraw Hill Inc. is seeking to raise as much as $537 million in a US public offering, as the education firm joins a rising tide of mid-summer US listings. The Columbus, Ohio-based company is offering 24.4 million shares, according to its filing on Monday with the US Securities and Exchange Commission. The shares are being offered at $19 to $22 each. At the top of that range, McGraw Hill would have a market value of $4.2 billion based on the outstanding shares listed in the filing.
/jlne.ws/4eO74Lf
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| Trade War and Tariffs | | A roundup of today's trade war and tariff news and the global economic ripple effects shaping markets, industries, and investment strategies. | EU Plans to Engage More With Other Nations Hit by US Tariffs
Jorge Valero, Andrea Palasciano, and Alberto Nardelli - Bloomberg
The EU is preparing to step up its engagement with other countries hit by Donald Trump's tariffs following a slew of new threats to the bloc and other US trading partners, according to people familiar with the matter. The contacts with nations including Canada and Japan could include the potential for coordination, said the people, who spoke on condition of anonymity to discuss private deliberations.
/jlne.ws/3TDigR6
EU delays retaliatory trade tariffs against US
Jennifer Meierhans - BBC
European Commission President Ursula von der Leyen says it will use the time to negotiate
The EU's retaliatory tariffs on US exports have been delayed again, European Commission President Ursula von der Leyen has announced. The countermeasures, which were due to start on Tuesday, came in response to US President Donald Trump's initial import taxes on steel and aluminium. The EU's retaliation, which would have hit EUR 21bn worth of US goods, was first suspended in March. This break has been extended until early August, von der Leyen told a press conference on Sunday. EU trade ministers are expected to meet in Brussels on Monday to discuss how to respond.
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Tariffs or Deals? Trump Seems Content With Punishing Levies; The president's supporters portray him as a top dealmaker. But, at least for now, far more trading partners have gotten stiff tariffs than trade deals.
Ana Swanson - The New York Times
Even after President Trump announced sweeping global tariffs in April, some investors and supporters comforted themselves by arguing that the president's goal was still to open global markets, not close them off. The belief, promoted by Mr. Trump himself, was that he was using his tariffs as a lever to crack open commercial opportunities and the administration would soon deliver dozens of deals that would increase U.S. exports and help American businesses flourish abroad. Three months later, that optimism is being replaced by doubts that Mr. Trump's goal was ever to strike the kind of trade deals that would open up markets.
/jlne.ws/462nWLU
Levi Strauss limits selection for holiday shopping season due to tariffs
Arriana McLymore and Anuja Bharat Mistry - Reuters
Levi Strauss has a simple strategy to deal with U.S. tariffs: stop offering less-popular styles during the holiday shopping season so they can avoid having to offer discounts to move inventory. The leading maker of jeans and other denim clothes on Thursday lifted its annual profit and revenue forecast, projecting strong demand for new styles and collections including dresses, skirts and wide-legged jeans even as shoppers are economizing due to the climbing prices of most goods.
/jlne.ws/44M7ahN
Manufacturers plead for US tariff clarity before copper stockpiles dwindle; Companies await details on whether 50% levy will apply to all products containing the metal
Kana Inagaki and Leslie Hookand Zehra Munir - Financial Times
Global manufacturing executives are begging for clarity on Donald Trump's tariff policy before a 50 per cent levy is imposed on copper imports, as their stockpiles diminish and the clock ticks on existing contracts. The US president has vowed to impose the higher tariff on the metal from August 1, matching levels already in place on all imports of steel and aluminium. But it remains unclear whether the levy will be applied to all copper products, stoking anxiety across industries.
/jlne.ws/4lrVSq7
The Race Is On to Build U.S. Copper Mines After Trump Pledges Higher Tariffs; U.S. copper prices are trading at records ahead of the 50% tariff that the president has promised to impose on imports
Ryan Dezember - The Wall Street Journal
Nearly 6,000 acres of old Arizona farmland once intended for a residential subdivision is on track to potentially become home to the first big new U.S. copper mine in more than a decade. If all goes as planned, Ivanhoe Electric will begin construction of its Santa Cruz mine early next year and start selling copper cathodes to manufacturers before the end of 2028. That is a blink of an eye in mining, where the time between discoveries and production is often measured in decades.
/jlne.ws/40g4M1t
Your Next Lawn Chair Is Coming From Vietnam, but It's Still Kind of Chinese; Manufacturers from China push across border to dodge tariffs, potentially undermining Trump's goal of reducing U.S. dependence on Beijing
Jon Emont - The Wall Street Journal
/jlne.ws/40hj3Li
It's No Bluff: The Tariff Rate Is Soaring Under Trump; The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.
Ana Swanson - The New York Times
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Merz Says 30% US Tariffs Would Hit German Industry to 'Core'
Michael Nienaber - Bloomberg
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| World Conflicts | | News about various conflicts and their military, economic, political and humanitarian impact. | Ukraine Invasion
Ukraine 'eliminates' Russian spies in Kyiv shoot-out; Man and woman thought to be behind shooting of Col Ivan Voronich have been killed
Antonia Langford - The Telegraph
Ukraine has "eliminated" two suspected Russian secret agents after a gunfight in a spy den in Kyiv. The man and woman who were killed were thought to be part of Russia's FSB and behind the daylight assassination of one of Ukraine's top spies this week. The pair are thought to have co-ordinated the operation in which Col Ivan Voronich, a senior operational officer in Ukraine's security service, was shot dead using a pistol with a silencer on the street in Ukraine's capital on July 10.
/jlne.ws/4kUVK1r
A Never-Ending Supply of Drones Has Frozen the Front Lines in Ukraine; The speed and scale of production means soldiers can't emerge from their bunkers without falling prey to a drone
Ian Lovett and Daniel Kiss - The Wall Street Journal
In the battle for Ukraine, the front line is increasingly at a standstill. The reason: rapid innovations in drone technology. From just a few commercial and homemade drones, which the Ukrainians used at the start of the war to locate invading Russian columns, unmanned vehicles now dominate the battlefield. Each side has hundreds of them constantly in the air across the 750-mile front line. Drones can lay mines, deliver everything from ammunition to medication and even evacuate wounded or dead soldiers. Crucially, drones spot any movement along the front line and are dispatched to strike enemy troops and vehicles.
/jlne.ws/4eNBqNH
Trump teases 'major statement' on Russia-Ukraine war; US president set to send offensive weapons to Kyiv amid growing frustration with President Putin's refusal to agree to a peace deal
updated
Marc Bennetts - The Times of London
President Trump will send offensive weapons to Kyiv, according to reports, along with Patriot air defence missiles before making a "major statement" on the war in Ukraine on Monday. The move comes after the White House caused alarm in Kyiv this month when it said it was pausing some arms deliveries to Ukraine, including some Patriot missiles, after a Pentagon review of US weapons stockpiles. US-made Patriot interceptor missiles are the only air defence systems in Ukraine that are capable of shooting down Russian ballistic missiles.
/jlne.ws/4nRjPsE
Kremlin says weapons and ammunition deliveries to Ukraine from U.S. are continuing
Reuters
The Kremlin said on Monday that the big picture of U.S. President Donald Trump remarks about supplying Patriot air defence missiles to Ukraine was that U.S. arms and ammunition deliveries to Kyiv have continued and are still continuing. Trump did not say how many Patriots he plans to send to Ukraine, but he said the United States would be reimbursed for their cost by the European Union.
/jlne.ws/3TFfafp
Russian court hands US-owned food company's assets to the state
Reuters
A Moscow court has ruled that the assets of U.S.-owned canned food company Glavprodukt be handed over to the Russian state, the TASS news agency reported late on Friday, ending a months-long legal tussle over the company. One participant in the court proceedings, who declined to be named, confirmed to Reuters on Monday that the court had satisfied the prosecution's claim in full with immediate effect after a six-hour court session.
/jlne.ws/3GMpBuF
Middle East Conflict
Israel blames 'technical error' after missile kills six children in Gaza; Witnesses say drone fired missile at crowd of families queuing next to water tanker at refugee camp
Melanie Swan - The Telegraph
Israel has blamed a "technical error" for a missile strike that killed six children collecting water in Gaza. Witnesses said a drone fired a missile at a crowd of families queuing with empty jerry cans next to a water tanker at Al-Nuseirat refugee camp. Ten people were killed in total, with a further seven children and nine adults requiring treatment at Al-Awda Hospital. Locals carried the injured away in the back of trucks and on donkey carts. The Israeli military said it had been targeting a militant, but a technical error made its munition fall "dozens of metres from the target".
/jlne.ws/46ayNna
American citizen 'beaten to death' by Israeli settlers; Saif al-Din Kamil Abdul Karim Musalat was beaten to death on Friday in Sinjil
The Telegraph
An American-Palestinian man was beaten to death by Israeli settlers in the occupied West Bank, his family and the Palestinian authorities said. Saif al-Din Kamil Abdul Karim Musalat, 20, was killed on Friday in Sinjil, a village north of Ramallah, the Palestinian health ministry said. "He was martyred after being severely beaten all over his body by settlers," the ministry added. Mr Musalat's family, who urged the US to open an investigation, said they were "devastated" by his death and that he was "protecting his family's land from settlers who were attempting to steal it".
/jlne.ws/4nSSPci
Inside Gaza's 'death traps'; A US-backed scheme forces hungry Palestinians to trek kilometres for food aid. Many never make it back
Heba Saleh, Alison Killing, James Sandy, Aditi Bhandari, Gaku Ito and Chris Campbelland Neri Zilber - Financial Times
Five times, Jihad has trekked through southern Gaza - past Israeli tanks, soldiers and sometimes drones overhead - to reach aid sites run by the Gaza Humanitarian Foundation. Five times, he has queued in caged alleys on the approach to the distribution sites, jostling alongside thousands of men preparing for the frantic sprint to snatch whatever food they can.
/jlne.ws/44HUBUG
The markets are signalling a clear winner in the Middle East; Israel's stunning stock rally suggests the country is cementing its status as the regional economic superpower
Ruchir Sharma - Financial Times
Since the October 7 2023 attacks on Israel, the best-performing major stock market in the world isâEUR‰.âEUR‰.âEUR‰.âEUR‰Israel. After taking an initial hit, the market recovered fully in four weeks, and since then is up around 80 per cent in dollar terms. This ascent continued through the recent 12-day war with Iran, when most geopolitical experts thought their worst fears of a wider conflict were coming to pass. The stock market, in contrast, kept signalling that the conflict would end soon, with Israel prevailing both militarily and economically.
/jlne.ws/4o1rGnw
Gazans Confront a Stark Choice: Risk Death to Get Food, or Starve; A rash of shootings has made the trek through combat zones to U.S. and Israeli-backed food-aid sites a deadly one
Suha Ma'ayeh and Sudarsan Raghavan - The Wall Street Journal
For many in Gaza, it is an agonizing daily choice. Should they risk a trip through combat zones to visit one of the enclave's four functioning aid-distribution sites that are frequently scenes of chaos and violence? Or should they try to make it another 24 hours, or more, without food. Mahmoud al-Tarifi's 22-year-old son, Osama, set out for a Gaza Humanitarian Foundation center near the Netzarim corridor, an Israeli-patrolled zone that bisects Gaza. His family hadn't eaten a filling meal in weeks, Tarifi said, and Osama wanted to get rice, dried beans or other supplies.
/jlne.ws/3TDE8Mk
Iran Says No Decision Yet on Resumption of US Nuclear Talks
Arsalan Shahla - Bloomberg
Iran and the US haven't agreed on a time, date or place to resume stalled negotiations over Tehran's nuclear program, Iran's Foreign Ministry spokesman said on Monday. Iran won't return to talks "unless we're certain the negotiations will be effective," Esmaeil Baghaei said in a televised press conference. His remarks follow a report from Iran's Fars News Agency over the weekend that President Masoud Pezeshkian sustained minor leg injuries in an Israeli strike on June 16, three days into the surprise campaign that scuttled five rounds of talks between Tehran and Washington.
/jlne.ws/4loWLj3
Other Conflicts
Drones Are Key to Winning Wars Now. The U.S. Makes Hardly Any; A four-day test in the Alaska wilderness shows how far the U.S. military and American drone companies lag behind China in the technology.
Farah Stockman - The New York Times
On a patch of dirt in the vast wilderness in Alaska, a long-range drone roared like a lawn mower as it shot into the sky. It scanned the ground for a target it had been programmed to recognize, and then dived, attempting to destroy it by crashing into it. But it missed, landing about 80 feet away. On another attempt, a drone nose-dived at launch. On a subsequent try, a drone crashed into a mountain.
/jlne.ws/4kzov3m
This tech CEO quit to redesign the 155mm shell - and upend how the West buys its weapons
Mia Jankowicz - Business Insider
A few weeks ago, a new defense tech startup stepped out of the shadows with a bold claim: it had built a radically advanced 155mm artillery shell called Sceptre. The ammo quickly grabbed attention for its promised combination of unprecedented range and precision. But its creator, tech entrepreneur Chad Steelberg, believes the real innovation isn't necessarily what Sceptre does - it's how it's made and sold.
/jlne.ws/3GA5aRK
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| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | Eurex Expands Global Index Derivatives Suite with First Futures on the MSCI Korea Index
Eurex
Eurex, one of the world's leading derivatives exchanges and part of Deutsche Borse Group, announces the launch of Futures on the MSCI Korea Index. With this launch Eurex provides efficient and cost-effective access to the Korean equity market, supporting international investors diversifying exposures worldwide on a single venue. Trading will start on July 14, 2025. Eurex is currently the only derivatives exchange outside of Korea offering access to a Korean equity index. As of June 30, 2025, Korea accounts for 10.73 percent of the MSCI Emerging Markets (EM) Index, ranking as the fourth-largest country allocation in the index, which captures large- and mid-cap representation across 24 EM countries.
/jlne.ws/451obFV
Tokyo Stock Exchange to Conduct a Survey on English Disclosure by Japanese Companies
JPX
Tokyo Stock Exchange, Inc. is conducting a survey on disclosures in English by listed companies to investors. This survey aims to assess overseas investors' opinions on the English disclosure requirements for the Prime Market, which came into effect in April 2025, and to promote English disclosure that meets the needs of overseas investors by providing feedback on the survey results to listed companies.
/jlne.ws/4lTFVsB
LSEG Global Cloud Survey: Financial Services Firms Embrace Cloud to Drive Competitiveness
LSEG
Financial services firms around the world are accelerating their adoption of cloud technologies to enhance agility, resilience, and innovation, not merely to reduce costs, according to new research conducted by LSEG (London Stock Exchange Group). The global survey of 453 financial services executives reveals that 87% of firms have increased their investment in cloud over the past two years, with a growing emphasis on strategic outcomes such as scalability, revenue growth, and AI enablement.
/jlne.ws/3IsVEQX
Speech by Loh Boon Chye, CEO, SGX Group at the Listing Ceremony of NTT DC REIT
SGX
Good afternoon. We are honoured to host you here in Singapore, and to celebrate the listing of NTT DC REIT, a landmark moment for our market. Today's listing is a celebration of many things - trust, partnership and long-term vision. It is also the result of years of collaboration between SGX and NTT on many fronts.
/jlne.ws/3IktyHE
SGX Securities welcomes NTT DC REIT to Mainboard
SGX
SGX Securities today welcomed the listing of NTT DC REIT on its Mainboard under the stock code "NTDU". NTT DC REIT is a Singapore real estate investment trust (REIT) established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of established income-producing real estate assets located globally which are used primarily for data centre purposes, as well as assets necessary to support the digital economy. NTT DC REIT is sponsored by NTT Limited, which is part of the NTT Group, a major global IT services and telecommunications group with a leading global data centre business.
/jlne.ws/4eMCz8l
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| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | Lloyds in Talks to Buy Fintech Firm Curve for £120M, Sky Says
Chloe Meley - Bloomberg
Lloyds Banking Group Plc is in advanced talks to buy digital wallet provider Curve for as much as £120 million ($162 million), Sky reported on Saturday. A deal could be announced by the end of September, Sky said. Curve, positioned as a rival to Apple Pay, was launched in 2016 by Shachar Bialick and gives users a bank card and app that consolidates all their accounts in one place.
/jlne.ws/4eKVroa
Artificial Intelligence
A more intelligent approach to AI regulation; Legislators should focus on mitigating specific harms rather than anticipating broader concerns
The editorial board - Financial Times
One of the biggest policy challenges of our times will be how to regulate artificial intelligence appropriately. As the powerful general purpose technology is rapidly adopted across society and the economy, the task will be to maximise its upsides while minimising its downsides. AI is already proving a helpful boost to productivity in sectors such as software, marketing and administration. But its widespread use also raises real concerns about its more harmful impacts, ranging from algorithmic discrimination to deepfakes and disinformation. The Grok chatbot's praise for Adolf Hitler last week underlined the myriad issues that will emerge.
/jlne.ws/4lL4Mi0
Nvidia's Huang Says China's Military Unlikely to Use US AI Chips
Ian King - Bloomberg
Nvidia Corp. Chief Executive Officer Jensen Huang said the US government doesn't need to be concerned that the Chinese military will use his company's products to improve their capabilities. Addressing the largest concern Washington has cited in placing increasing restrictions on US technology exports to the Asian nation, Huang said the Chinese military will avoid using US technology because of the risks associated with doing so. "We don't have to worry about it," he said in an interview on CNN's Fareed Zakaria GPS broadcast Sunday. "They simply can't rely on it," he added. "It could be, of course, limited at any time."
/jlne.ws/44N3RqM
Apple Faces Calls to Reboot AI Strategy With Shares Slumping
Ryan Vlastelica - Bloomberg
Apple Inc. is facing pressure to shake up its corporate playbook to invigorate its struggling artificial intelligence efforts. Alarmed by a share slump that's erased more than $640 billion in market value this year and frustrated with delays in rolling out AI features, investors are calling for Apple to break with long-standing traditions to make a big acquisition and more aggressively pursue talent.
/jlne.ws/3Isgik6
AI helped save the chip industry. What happens if it turns out to be a bust?
Rakesh Kumar - Fortune
Nvidia is now the first company to surge past $4 trillion in market capitalization, rebounding from its DeepSeek-induced slump earlier this year. Other AI chipmakers, including AMD and China's Huawei, are reporting strong financial results. Nearly every major chipmaker is now centering its strategy on AI. This isn't just a hypothetical question. Some signs suggest that AI growth is stalling, or at least slowing down. New models no longer show significant improvements from scaling up size or the amount of training data. Nobel laureate Demis Hassabis recently noted that "we are no longer getting the same progress" on AI development. Andreessen Horowitz, one of the most prominent investors in AI, similarly shared concerns that AI model capabilities appeared to be plateauing.
/jlne.ws/4eRCWP2
Can Pittsburgh's Old Steel Mills Be Turned Into an AI Hub?; Two Trump visits span city's legacy industry, higher-tech pursuits
Kris Maher - The Wall Street Journal
Two months ago, President Trump stood in a cavernous, local U.S. Steel mill heralding a $2 billion investment from buyer Nippon Steel to keep 3,000 steelworkers employed for at least another decade. He's returning Tuesday to tout a very different Pittsburgh industry, but one also connected to a $2 billion mill overhaul. This one, in the nearby city of Aliquippa, would turn a long-closed mill site into a power plant and data centers to support artificial intelligence.
/jlne.ws/3GLqVht
Microprocessors
Japan-backed chipmaker JS Foundry files for bankruptcy; Set up in December 2022, contract chipmaker leaves $110 million in debt
Nikkei staff writers - Nikkei Asia
Japanese government-backed contract chipmaker JS Foundry has filed for bankruptcy protection with the Tokyo District Court on Monday. The Tokyo-based company is a producer of power semiconductors that are typically used for regulating electric power flows and installed in large electric equipment such as electric vehicles, home appliances and trains.
/jlne.ws/3Ip7T0L
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| Cybersecurity | | Top stories for cybersecurity | A year after cyber attack, Columbus could invest $23M in cybersecurity upgrades
Jordan Laird - The Columbus Dispatch
Days before the one-year anniversary of the cyberattack that temporarily crippled Columbus' computer systems and resulted in the leak of stolen city data on the dark web, the city is considering investing $23 million to strengthen its cybersecurity.The Columbus Department of Technology is asking the Columbus City Council at its meeting tonight, July 14, to approve the spending on implementing a "zero trust network."
/jlne.ws/3Go4H59
Cybercrime is big business in Asia, and AI could be about to make things worse
Nicholas Gordon - Fortune
Southeast Asia has become a global epicenter of cyber scams, where high-tech fraud meets human trafficking. In countries like Cambodia and Myanmar, criminal syndicates run industrial-scale "pig butchering" operations-scam centers staffed by trafficked workers forced to con victims in wealthier markets like Singapore and Hong Kong.
/jlne.ws/3Isjkov
Unpacking Trump's Cybersecurity Executive Order
Infosecurity Magazine
In this Infosecurity podcast episode, the team dive into the details of Donald Trump's June 2025 Cybersecurity Executive Order (EO). This EO revises previous orders from both Barack Obama and Joe Biden, while also removing a host of requirements from Biden's January 2025 EO.
/jlne.ws/4lsBLYZ
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| Cryptocurrencies | | Top stories for cryptocurrencies | Crypto Treasury Firms Swarm Wall Street in SPAC, Merger Boom
David Pan - Bloomberg
A multibillion-dollar capital markets experiment is unfolding on Wall Street, as entrepreneurs use blank-check companies and reverse mergers to take their holdings of digital assets public. Firms from SoftBank Group Corp.-backed Twenty One Capital and Justin Sun's Tron Inc. to influencer Anthony Pompliano's ProCap Financial Inc. are raising equity and convertible debt to buy crypto - injecting the assets into vehicles that already trade on a stock exchange, with varying degrees of financial engineering.
/jlne.ws/3IoRRUR
Crypto companies race to secure banking foothold in US; Appetite to integrate into financial system driven by bullishness over Trump's regulatory regime
Nikou Asgari and Akila Quinio and Joshua Franklin - Financial Times
Cryptocurrency companies are racing to expand into traditional banking in the US, as they seek to capitalise on a friendlier regulatory environment under President Donald Trump and become more embedded in the financial system. Crypto payments group Ripple, stablecoin company Circle and custodian BitGo have applied for national trust bank charters that will allow them to offer some banking services, while crypto exchange Kraken plans to launch bank cards in the next month. "It's a natural convergence," Arjun Sethi, co-chief executive of Kraken, told the Financial Times, adding the company plans to launch debit and credit cards by roughly the end of the month.
/jlne.ws/3GGwIF3
Bitcoin's Mysterious Creator Is (Almost) the World's 10th Richest Person; Satoshi's wallet, which made all its holdings from mining the network in its earliest days, has remained untouched since 2010, when it was run on a few laptops.
Shaurya Malwa - CoinDesk
Bitcoin's pseudonymous creator, Satoshi Nakamoto, is now among the wealthiest individuals - or group of individuals - on the planet, without ever moving a single dollar of their fortune or revealing any identifying details about themselves. With BTC climbing above $122,000 on Monday, Satoshi's estimated 1.1 million coins are worth over $134 billion, according to public blockchain data.
/jlne.ws/40jVHVo
Long Dormant Bitcoin Wallets Wake Up For The First Time In 14 Years, Move $8.6B In Bitcoin : What's Going On?
David Okoya - Benzinga
A series of massive Bitcoin transfers has shaken the cryptocurrency industry, leaving a trail of questions and wild theories. Last week, several cryptocurrency trackers flagged the transfer of a staggering 80,000 BTC worth $8.6 billion in eight different transactions of 10,000 BTC from a single entity. These transactions are particularly interesting because it is the first time these assets have been moved in over a decade.
/jlne.ws/4nSbWDe
Ethereum
Ethereum Foundation Finds Ready Buyer in Crypto Token's Founder
Kirk Ogunrinde and Muyao Shen - Bloomberg
The Ethereum Foundation, which has faced a backlash from critics in the past for open-market sales of its namesake token, appears to have found a ready buyer: the recently formed crypto treasury firm headed by one of the co-creators of the second-biggest cryptocurrency. The non-profit organization behind the Ethereum blockchain said Friday that SharpLink Gaming Inc. acquired 10,000 Ether tokens for $25.7 million, or $2,572 apiece. Consensys Chief Executive Officer Joseph Lubin - a key contributor to the development of Ethereum - serves as chairman of SharpLink. The firm calls itself the largest publicly-traded holder of Ether. Shares of SharpLink jumped as much as 23% on Friday, and have more then doubled since the company announced its pivot from providing sports betting and gaming technology last month. Ether briefly climbed above $3,000 before paring its increase to around 5.8%.
/jlne.ws/40h740l
Another BTC Mining Firm Moves Into Ethereum Reserve, Hailing ETH as 'Digital Gold'
Francisco Rodrigues - CoinDesk
Bitcoin mining firm, BTC Digital (BTCT), has moved $1 million of company cash into ether (ETH), which it called its new "digital gold." BTCT Moved $1M Into Ethereum Reserve, chief executive officer Siguang Peng said in a press release, adding that Ethereum has "emerged as the foundation of on-chain USD settlement and value transfer."
/jlne.ws/4nSUAGq
Memecoin Platform Pump.fun Raises $600 Million Within 12 Minutes
Muyao Shen - Bloomberg
In another sign of the ongoing popularity of memecoins, a platform that lets people create their own highly-speculative tokens raised $600 million within 12 minutes on Saturday. Pump.fun's so-called initial coin offering ranks among the largest ever and comes a day after the largest cryptocurrency and market bellwether Bitcoin hit a fresh record high.
/jlne.ws/3TFvJb7
Stablecoins
Stablecoin Bill Poised to Pass as House Kicks Off 'Crypto Week'
Yash Roy - Bloomberg
Republican House leaders anticipate passing an industry-friendly stablecoin regulatory bill this week, sending Congress's first major digital assets legislation to the president and kicking off a series of votes on related measures that supporters have dubbed "Crypto Week." Industry backers hope the legislation will promote wider use of dollar-denominated stablecoins, marking the first big victory for crypto advocates since they poured hundreds of millions of dollars last year into efforts to elect friendly lawmakers, according to Federal Election Commission filings.
/jlne.ws/3UcexKq
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| Politics | | An overview of politics as it relates to the financial markets | U.S. Administration
Conservatives are asking Trump for another big tax cut
Jeff Stein - Washington Post
Fresh off passage of the "One Big Beautiful Bill," several conservative organizations and Republican lawmakers are preparing to ask President Donald Trump for another major tax cut - this time, potentially without congressional approval. Trump's tax and immigration law is projected to add more than $4 trillion to the national debt over the next 10 years, broadly reducing tax rates while cutting spending on Medicaid and clean energy subsidies. The legislation is the culmination of years of advocacy on the right, making permanent many of the 2017 tax cuts Trump approved during his first term, and it represents one of the most expensive new laws in decades.
/jlne.ws/46E59qm
Epstein Conspiracies Split Trump, Musk and the MAGAsphere; The president is learning the consequences of courting outlandish theories.
Timothy L. O'Brien - Bloomberg
Trouble is brewing among the MAGAs. "How many of you are satisfied with the results of the Epstein investigation?" Fox pundit Laura Ingraham asked attendees at a Friday summit of young conservatives sponsored by Turning Point USA, an influential far-right activist group close to the Trump administration. The answer, according to the Washington Post, was a crescendo of boos. Jeffrey Epstein, in case you forgot, was a well-connected former money manager who hanged himself in a Manhattan jail cell in 2019 while facing federal criminal charges of sex trafficking minors. He had been accused repeatedly over the years of manipulating and molesting underage girls and pleaded guilty in 2008 to state charges in Florida of securing the services of a child for prostitution and for soliciting prostitution.
/jlne.ws/4loEylJ
America Is Losing Its Intelligence; When even spy agencies have to put loyalty to the leader above objectivity and truth, the whole nation loses, and becomes less safe.
Andreas Kluth - Bloomberg
Donald Trump increasingly employs America's vaunted spy services as the proverbial drunk uses lamp posts: for support rather than illumination. And that presents a huge, albeit slow-moving and often invisible, threat to national security. If the president and his spy masters keep signaling to spooks, agents and analysts throughout the so-called intelligence community (IC) that independent, honest, skeptical and apolitical assessments of threats and risks are out, while motivated reasoning and groupthink are in, the best people will leave and the worst will rise. Confidence in the IC's processes and output will decline, and allied countries will share less information. Attention will go to whatever preoccupies Trump, while other perils are ignored - dangers that, in time, may kill Americans.
/jlne.ws/4lR5HO7
Other U.S. Politics
Bill Kristol Is Alarmed That a President Would Ship Accused Foreign Enemies to an Overseas Prison; The hawkish defender of Guantanamo Bay and the post-9/11 security state worries President Donald Trump's immigration crackdown is threatening civil liberties.
Christian Britschgi - Reason
Bill Kristol has had a change of heart. He is now opposed to the president sending alleged foreign enemies to rot in overseas prisons, and the claims of expansive executive powers and sprawling homeland security bureaucracy that enables him to do so. "DHS [the Department of Homeland Security], it should all be defunded," Kristol said on a recent episode of The Bulwark Podcast, per Mediaite. "I've sorta come around to defunding ICE [Immigration and Customs Enforcement] about a month or two ago. But now I'm just on the defund DHS thing."
/jlne.ws/4ljMyEC
The Big Beautiful Bill will kill one profession; Professional gamblers get beaten by the odds
The Economist
The republicans' sprawling new tax-and-spending law affects every industry. But a seemingly modest clause deep in its 330 pages is poised to wipe out one line of work entirely: professional gambling.
/jlne.ws/3IppXYO
Democrats Can Finally Stop Pandering to Farmers
Michael Grunwald - The New York Times
Here's some bad news: The "big, beautiful bill" that President Trump signed into law on July 4 accelerates the egregious bipartisan tradition of showering taxpayer dollars on well-off farmers. It is projected to pour more than $90 billion into new agricultural subsidies and tax credits for farm-grown fuels like corn ethanol, while making it easier for the biggest farmers to vacuum up cash and the least sustainable biofuels to qualify for credits. It gets worse: The congressional Republicans who passed the bill without Democratic votes also ended the tradition of pairing the lavish handouts known as the "farm safety net" with an actual food safety net for the poor. The bill slashes nearly $200 billion from the federal food stamp program known as SNAP, making life harder for millions of vulnerable families.
/jlne.ws/3IG5Zca
United Kingdom
MPs slam 'disrespectful' obstruction by chair of UK financial ombudsman; Commons Treasury select committee frustrated by Zahida Manzoor's refusal at hearing to explain sacking of FOS chief
Martin Arnold - Financial Times
MPs have accused the chair of the Financial Ombudsman Service of "disrespectful" behaviour, saying she tried to stop them finding out that the body's chief executive was sacked after a "mutual collapse in confidence". The scathing findings by the House of Commons Treasury select committee add to a deepening crisis at the FOS. Its powers are set to be curbed by chancellor Rachel Reeves in her Mansion House speech on Tuesday after it became a lightning rod for City criticism of regulators.
/jlne.ws/3IsXKQP
Reeves to open 'front door' for investors in UK with concierge service; Chancellor will use Mansion House speech next week to launch growth plan for financial services sector
George Parker and Martin Arnold - Financial Times
Chancellor Rachel Reeves is to launch a "concierge service" to smooth the way for international financial services companies moving to and expanding in the UK, part of her efforts to boost the City of London. Reeves will use her Mansion House speech next week to set up a "single front door" for investors, helping them to navigate issues such as visas and regulation, in a recognition that Britain is locked in a fierce battle for business with centres such as Paris, Singapore and New York.
/jlne.ws/4nHwApn
European Union
The resurrection of the London-Paris-Berlin triangle; In the face of geopolitical instability, close trilateral relations are essential
Peter Ricketts - Financial Times
"France and the United Kingdom agree that there is no extreme threat to Europe that would not prompt a response by our two nations." This sentence in the Northwood declaration issued by Prime Minister Sir Keir Starmer and President Emmanuel Macron at the UK-French summit last week signalled a potentially far-reaching shift in the defence priorities of both countries as they come to terms with Vladimir Putin's aggression in Ukraine and Donald Trump's unreliability as an ally.
/jlne.ws/40g1zir
China
Xi's Price-War Campaign Creates a Buzz in China's Stock Market
Bloomberg News
For strategists at JPMorgan Chase & Co. and Goldman Sachs Group Inc. as well as money managers in Hong Kong and Singapore, an opaque term has suddenly emerged as the catchphrase for deciphering Chinese policy intentions and navigating the stock market. The term "anti-involution" has cropped up in government documents over the past year, but gained prominence earlier this month when President Xi Jinping chaired a high-level meeting that pledged to regulate "disorderly" price competition. It refers to efforts to root out China's industrial malaise, marked by cutthroat price wars and overcapacity that have hurt profitability in sectors ranging from solar, new energy vehicles to steel.
/jlne.ws/3TzGPyn
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| Regulation & Enforcement | | Stories about regulation and the law. | U.S. Treasury Rescinds 2024 Crypto Broker Reporting Rule
Coin World via AInvest.com
The U.S. Treasury Department has formally rescinded a tax rule that classified decentralized finance (DeFi) exchanges as "brokers." This rule, published in December 2024 under the Biden administration, required platforms like Uniswap and PancakeSwap to collect user data and report cryptocurrency transactions to the IRS. After taking effect in February 2025, the rule faced criticism for its technical impracticality.
/jlne.ws/4lqg5wv
Taiwan's central bank tells foreign investors to stop violating capital controls; Warning comes as authorities seek to contain volatility in rapidly appreciating currency
William Sandlund and Haohsiang Ko - Financial Times
Taiwan's central bank has warned "a few foreign investors" against violating its capital controls as it seeks to contain volatility in its rapidly appreciating currency. In a statement to the Financial Times, the Central Bank of the Republic of China said it had "strengthened communication with a few foreign investors" and "asked them to self regulate and make necessary improvements" after finding that foreign capital inflows were not being invested in domestic securities. It did not name the investors.
/jlne.ws/4lLwKu6
Singapore Proposes to Strip Money Launderers of Directorships
Weilun Soon - Bloomberg
Singapore is considering stripping directorships from persons who have been convicted of money-laundering offenses in the city state after a S$3-billion ($2.34 billion) scandal that dented the Southeast Asian country's reputation as a global financial center. The government is seeking feedback on such a proposal from the public as it contemplates changes to several legislations, including the Companies Act 1967, the Ministry of Finance and the Accounting and Corporate Regulatory Authority said in a request for public comments on Monday.
/jlne.ws/3TDHzmc
Basel III overhaul triggers credit RWA reshuffle at EU banks; A-IRB down by a third, F-IRB more than doubles and standardised approach up by a quarter
Joshua Walker - Risk.net
The implementation of Basel III reforms for credit risk in the first quarter of 2025 prompted a major recalibration in how European Union banks calculate risk-weighted assets (RWAs). Across 16 institutions analysed by Risk Quantum, RWAs under the advanced internal ratings-based (A-IRB) approach fell by 32.6%.
/jlne.ws/44rK0ym
Former OCC chief on the sting of peeling the Basel III 'onion'; Michael Hsu warns successors not to cut bank capital or neglect rate risks that destroyed SVB
Menghan Xiao - Risk.net
When Michael Hsu was tapped to serve as acting head of the Office of the Comptroller of the Currency (OCC) in May 2021, the world looked very different. The US economy was roaring back from Covid, fintechs were booming and crypto was careening into mainstream conversation.
/jlne.ws/4598njB
SEC Charges Former Animal Health Company Senior Director and Tippee with Insider Trading
SEC
On July 10, 2025, the Securities and Exchange Commission filed insider trading charges against two individuals, Trijya Vakil and Neeraj Visen, for allegedly trading in stock of Kindred Biosciences, Inc. based on material nonpublic information about the impending acquisition of Kindred by Vakil's employer.
/jlne.ws/4eKuscq
SEC Charges Former Texas Resident with Multimillion Dollar Fraud in Real Estate Investment Schemes
SEC
On July 8, 2025, the U.S. Securities and Exchange Commission charged former Texas resident Joshua Thomas Jackson with defrauding investors through real estate investment schemes resulting in investor losses of approximately $2.4 million.
/jlne.ws/44K3xZz
Court Enters Consent Final Judgment in Alleged Offering Fraud
SEC
On July 10, 2025, the United States District Court for the Northern District of West Virginia entered final judgment against Defendant Diana Mae Fernandez. The SEC's complaint, filed on December 21, 2023, alleged that, between 2018 and at least 2020, Fernandez orchestrated a scheme in which she raised approximately $364,000 from at least 20 investors through the fraudulent offer and sale of securities by touting the false narrative that she was a successful businesswoman with access to no-risk, short-term investments. The complaint also alleged that, instead of investing investor funds as promised, Fernandez used investor money to pay for her day-to-day living expenses and lavish hotel stays, fund numerous cash withdrawals, and make Ponzi-like payments to earlier investors.
/jlne.ws/3TDtfKo
SEC Announces Dismissal of Civil Enforcement Action Against Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson
SEC
The Securities and Exchange Commission today filed a joint stipulation with Defendants Pinnacle Advisors, LLC, Robert F. Cuculich, Benjamin R. Quilty, Mark E. Wadach, and Lawton A. Williamson to dismiss, with prejudice, the Commission's ongoing civil enforcement action against them.
/jlne.ws/469UGmq
ASIC seeks Court order disqualifying David John Catsoulis from managing corporations
ASIC
ASIC has commenced proceedings in the Federal Court to disqualify David John Catsoulis of Southport, Queensland, from managing corporations. ASIC alleges that Mr Catsoulis was an officer of Warwick Gold Holdings Pty Ltd and Impact Gold Ltd (the Companies) between 2021 and 2024. ASIC also alleges that the Companies purportedly conducted mining operations in Papua New Guinea (Impact Gold) and Queensland (Warwick Gold).
/jlne.ws/4md5jtF
Review of access to financial advice for New Zealand
FMA
To enhance our understanding of the availability of financial advice in New Zealand, including where consumers go to get advice, we are undertaking a review focusing on challenges and opportunities related to access to financial advice.Since the new financial advice regime came into effect in 2021, monitoring has helped us understand how quality and accessibility of advice work together. Our view is quality and accessibility are complementary but can also have trade-offs.
/jlne.ws/3Ucdp9E
Singapore and UK Collaborate on Energy Transition and Sustainable Infrastructure Investments in Southeast Asia
MAS
Singapore and the United Kingdom (UK) announced a collaboration on 12 July 2025 to drive clean energy transition and advance the development of sustainable infrastructure across Southeast Asia. During his official visit to Singapore on 12 July 2025, the UK Secretary of State for Foreign, Commonwealth and Development Affairs, David Lammy, announced a landmark pledge of up to £70 million to Singapore's Financing Asia's Transition Partnership (FAST-P) initiative, as part of the collaboration.
/jlne.ws/452LoaQ
SFC consults on financial resources rule enhancements to foster market developments for OTC derivatives and other products
SFC
The Securities and Futures Commission (SFC) today launched a public consultation on draft amendments to the Securities and Futures (Financial Resources) Rules (FRR) and related guidelines for implementing a set of internationally comparable capital requirements for licensed corporations (LCs) engaging in over-the-counter derivative activities (OTCD capital requirements) (Note 1). Under the proposal, the OTCD capital requirements previously proposed (Note 2) have been fine-tuned with reference to recent changes to Hong Kong's Banking (Capital) Rules and the Basel Framework (Note 3). The capital requirements for inter-dealer brokers will also be significantly lowered and transfer pricing treatments for LCs will be simplified to reflect the comments received during the SFC's 2017 consultation (Note 4).
/jlne.ws/463TYHn
Update on Interim Order Compliance by Jane Street
SEBI
This is in response to several media queries regarding the captioned matter.This is to confirm that Jane Street has informed SEBI that in compliance with paragraph 62.1 of the July 3, 2025 Interim Order, a sum of INR 4,843,57,70,168/-(Four Thousand Eight Hundred Forty Three Crore Fifty Seven Lakh Seventy Thousand One Hundred and Sixty Eight Rupees only) has been credited to an escrow account with a lien marked in favour of SEBI. They have further stated that this action has been undertaken by them without prejudice to their rights and remedies which remain available to them in law and equity.
/jlne.ws/451wjGr
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| Investing & Trading | | Today's top stories from equities, indices and FICC (fixed income, currencies and commodities) | Once-in-a-Generation Copper Trade Upends a $250 Billion Market; The Aug. 1 deadline for Trump's 50% copper tariffs signals the endgame for the most profitable trade that industry veterans say they have ever seen.
Alfred Cang, Archie Hunter, Mark Burton, Julian Luk, and Jack Farchy - Financial Times
The phone calls started within days. In late February, President Donald Trump ordered a probe to potentially tariff copper imports. Almost immediately, China's top metals bosses began receiving inquiries from some of the biggest Western commodity traders - companies that for decades have played a key role in supplying metal to feed the factories, construction sites and power grids of the world's top consumer of raw materials. But now instead of selling copper to China, the traders wanted to buy from it. Lots of copper, as soon as possible. They were willing to pay big money to get it. They even offered to pay their Chinese customers sizable amounts if they would cancel their obligations to supply them, freeing up that copper too.
/jlne.ws/4kMkCs8
Donald Trump could trigger another market shock, investors warn; Fund managers and bankers cast doubt on bets US president will back down from most severe threats
Kate Duguid, Harriet Clarfelt and James Fontanella-Khan, and Amelia Pollard - Financial Times
US stocks' record highs obscure the risks Donald Trump poses to the world's biggest economy, according to big investors and senior bankers who have warned over growing "complacency" in the markets. Senior executives from Amundi to JPMorgan Chase said buoyant markets were pricing in too much confidence that the US president will back down from policies most likely to threaten the country's financial stability.
/jlne.ws/4nI8jQd
How the TACO trade could end up backfiring on investors
William Edwards - Business Insider
Buying the dip during recent tariff volatility has been a profitable strategy this year, but will the so-called TACO trade backfire on bullish investors confident that the president will always back down? It didn't take long for investors to figure out that Trump doesn't always mean what he says when it comes to trade policy. The TACO trade - short for "Trump always chickens out," a phrase coined by the Financial Times' Robert Armstrong to describe Trump's habit of backing away from proposals that roil markets- has emerged as a result. Investors have started not to take Trump so seriously, believing his more extreme policy proposals, like blanket tariffs or firing the Chairman of the Federal Reserve, are just a bluff.
/jlne.ws/4nNqHam
Traders hedge on Jane Street manipulation claims; Market-makers side with Sebi, while bankers accept arbitrage explanation. Most want more details.
Helen Bartholomew and Lukas Becker - Risk.net
Accusations by the Indian securities regulator that market-maker Jane Street manipulated the country's stocks and derivatives have divided opinion among banks and trading firms. While some agree with the regulator's findings, others say Jane Street was simply capitalising on a lucrative arbitrage. Most though are withholding judgement until all the facts are in.
/jlne.ws/44THD6y
The markets are picking a dangerous fight with Donald Trump; Investors think they're calling the US president's bluff. But somebody is paying for his historic trade taxes
Ambrose Evans-Pritchard - The Telegraph
The UBS "tariff fear gauge" has dropped to near absolute zero on both sides of the Atlantic. It is reflecting the same stunning complacency visible on the Nasdaq index and in wafer-thin credit spreads, now even more compressed than the pre-Lehman extremes in 2008. "Markets are looking through the tariffs, and we don't think they should," said Bhanu Baweja, the Swiss bank's chief global strategist. Germany's DAX index of equities is at an all-time high, even though Donald Trump's tariffs are a nuclear threat to the country's industrial core, and even though euro strength leaves Germany struggling to compete with Japan, Korea, and China in third markets.
/jlne.ws/4lS7fqX
Vitol Bolsters Metals Expansion With $240 Million Iron Ore Deal
Archie Hunter - Bloomberg
Vitol Group signed its first multi-year financing deal for metals, as the energy trading giant ramps up its presence in the sector following a long stint out of the market. The trading house entered a $240 million prepayment facility with a subsidiary of CIA Siderúrgica Nacional SA for the delivery of 6 million tons of iron ore over four years, Vitol said Monday in a statement.
/jlne.ws/4nMCs0H
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| Environmental, Social and Corporate Governance | | Stories about environmental, social and governance investing | Trump's Tax Law Throws Lifeline to Unloved Energy and Climate Sectors; From coal-fired power to a risky bet to cool the planet, these are the sectors likely to get a boost.
Michelle Ma - Bloomberg
President Donald Trump's sweeping $3.4 trillion fiscal package is already creating opportunities for segments of the energy and climate industries that had fallen out of favor, struggled to grow or haven't managed to break through. The tax and spending law signed on July 4 provides a lifeline to a coal industry that's long been squeezed by cheaper renewable and natural gas-fired power. The law provides a boost to nuclear - a sector that had regained investor and political support before Trump's return to the White House, but has yet to translate that enthusiasm into much domestic growth in electric capacity. And the law may actually help advance an unproven and risky planet-cooling system that has lived in the shadows for decades - geoengineering.
/jlne.ws/3IHeLXq
Netherlands rations electricity to ease power grid stresses; Country provides early warning for rest of EU if investments in new cables do not keep pace with shift to greener economy
Alice Hancock and Andy Bounds - Financial Times
Thousands of businesses and households are waiting to connect to the Dutch grid, forcing network operators to ration power in an early indicator of what other European countries are likely to suffer as the speed of electrification increases. More than 11,900 businesses are waiting for electricity network connections, according to Netbeheer Nederland, the association of Dutch grid operators. On top of that are public buildings such as hospitals and fire stations as well as thousands of new houses.
/jlne.ws/4nJsjBM
Venture capital investors place bets on demand for battery swapping; Start-ups operating across India, Japan, Spain and Taiwan look to plug a gap in charging networks
Kenza Bryan - Financial Times
Venture capital investors are placing bets on start-ups which allow drivers to swap depleted batteries for fresh ones in five minutes or less, making them suitable for smaller delivery vehicles in dense urban areas. Battery swapping is dominated in China by Shanghai-based electric vehicle maker Nio, while CATL, the world's biggest battery maker, has launched a collaboration to roll out a network of 1,000 stations. Europe and the US, where the cost of building the network and making vehicles compatible is high, have been slower to adopt the technology.
/jlne.ws/44QA9Bf
Energy Department to Gut Funding for Solar and Wind Projects; Stripping hundreds of millions of dollars from renewable energy and efficiency initiatives is part of a broader move to undo efforts to wean the United States off fossil fuels.
Ivan Penn - The New York Times
The Energy Department plans to eliminate hundreds of millions of dollars in funding for major renewable and efficiency projects this year, the latest move by the Trump administration to undo efforts to shift the nation away from fossil fuels. The cuts, which would take money away from projects budgeted for the fiscal year that ends Sept. 30, focus on solar and wind projects, as well as state and local assistance for low-income families, according to an Energy Department document reviewed by The New York Times and Democratic lawmakers in Washington. Critics argue that the moves are illegal because Congress had previously approved the funding for specific projects.
/jlne.ws/4eOgwOK
The Future of Weather Prediction Is Here. Maybe; Thanks to A.I., companies like WindBorne hope to usher in a golden age of forecasting. But they rely in part on government data - and the agency that provides it is in turmoil.
Tim Fernholz - The New York Times
Weather forecasts, believe it or not, have come a long way. A five-day forecast today is as accurate as a three-day forecast four decades ago. But the 10-day forecast? That's still a coin flip - or an opportunity if you're in the weather prediction business. There are two ways to better predict the weather: Measure it more accurately, or describe how it works in more excruciating scientific detail.
/jlne.ws/469uRmG
Saudi Arabia to boost renewables with $8bn investment; ACWA Power leads consortium that will build five solar and two wind projects in the kingdom
Ahmed Al Omran and Rachel Millard - Financial Times
A consortium led by Saudi utilities giant ACWA Power is to invest $8.3bn to build 15 gigawatts of solar and wind farms in the kingdom as it accelerates its push into renewables. ACWA Power, owned by the country's sovereign wealth fund, is joined by Aramco Power, part of Saudi Aramco, in the consortium that has signed power purchase agreements with the state-owned electricity buyer to build five solar and two wind projects in four regions across the kingdom.
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Thames Water announces hosepipe ban for parts of southern England; Areas of Swindon, Gloucestershire, Oxfordshire, Berkshire and Wiltshire affected by restriction
Maisie Grice - Financial Times
/jlne.ws/3UazEg9
Trump Is Gutting Weather Science and Reducing Disaster Response; As a warming planet delivers more extreme weather, experts warn that the Trump administration is dismantling the government's disaster capabilities.
Lisa Friedman, Maxine Joselow, Coral Davenport and Megan Mineiro - The New York Times
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| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | Upstart Money Managers Lure Retail-Trader Billions With High-Risk ETFs; Matthew Tuttle is one of the leading architects of leveraged single-stock ETFs, which now command about $22 billion and counting.
Emily Graffeo and Vildana Hajric - Bloomberg
At Matthew Tuttle's home office in Greenwich, Connecticut, the big money isn't made in his trading software - it's made in the two extra screens he has rigged up next to it. "This is a Discord, that's a Discord, this is a Discord," the 56-year-old says, pointing to multiple windows on each display where the online messaging platform is running. These screens are the secret behind the success of this unorthodox money manager, who oversees $4.5 billion with a team working entirely from home. They're also key to a boom that's testing the limits of America's $11.7 trillion market for exchange-traded funds.
/jlne.ws/4lTfun0
Foreign dealers still lag US banks in stress tests; IHCs' CET1 depletion triples that of domestic participants, despite improved performance since 2024 exercise
Lorenzo Migliorato - Risk.net
Foreign-owned US intermediate holding companies (IHCs) again fared worse than their US peers in the Federal Reserve's latest stress test, fitting a pattern observed through several past exercises. The six IHCs subject to this year's Dodd-Frank Act stress test (DFAST) experienced a median depletion of 4.5 percentage points in their Common Equity Tier 1 (CET1) capital ratios at their lowest point
/jlne.ws/40Mk2TJ
Lord Mayor criticises UK companies for choosing low-fee pension schemes; Alastair King says investing in alternative assets will yield higher returns ahead of Mansion House speech
Mary McDougall and Ashley Armstrong - Financial Times
The City of London Lord Mayor has criticised British companies for picking pension providers that charge the lowest fees, arguing more expensive managers who invest in alternative assets will deliver better returns. "We've ended up with pension pots that have lots of equity trackers and lots of fixed income because it's a cheap way of doing it," Alastair King said in an interview with the Financial Times, adding that there had been an industry "fixation" on costs over the past 10 years.
/jlne.ws/4lVwl8x
Jane Street claims may prompt bank scrutiny; Reputational risk policies require dealers to quiz clients that hit the headlines
Helen Bartholomew and Luke Clancy - Risk.net
Jane Street could face awkward questions from its clearing brokers and bank counterparties, after the prop trader was accused of market manipulation in India - although little may ultimately come of that scrutiny. According to clearing and trading executives at four different institutions, bank policies usually require reviews of clients accused of wrongdoing - a guard against reputational risk -
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Why US Banks Are Trying to Turn Themselves Into Super Apps; Rohit Chopra, former director of the CFPB, on banking and tech.
Tracy Alloway and Joe Weisenthal - Bloomberg Odd Lots podcast
Rohit Chopra is a former director of the Consumer Financial Protection Bureau, which was created in the aftermath of the 2008 financial crisis. In this episode, we speak with him about the current status of the CFPB under the Trump administration, and Rohit's experience while working at the bureau, including decisions made by regulators during the collapse of Silicon Valley Bank and others. Rohit frames his experience as one where he was often dealing with the convergence of old-fashioned banking with lightning-fast technological development. In this context, we also talk about stablecoins (which Rohit says aren't really "crypto," per se), why US banks are now trying to turn themselves into "super apps," and the massive growth of "Buy Now, Pay Later" platforms.
/jlne.ws/3U7Wqp0
Bank of America Hires Paul Kilfoy; Mark Molloy to Morgan Stanley IM
Anna Lyudvig - Traders Magazine
Paul Kilfoy has joined Bank of America Merrill Lynch as Director, Senior Sales Trader in Toronto, Canada, according to his post on LinkedIn. He joins from Stifel Financial Corporation where he served as Managing Director, Trading for over four years. Prior to this, he worked as a principal, sales trader at Eight Capital for over three years. He also held roles at Canaccord Genuity and UBS.
/jlne.ws/40fXVFh
UniCredit attacks Italian government's 'illegitimate' use of power over BPM bid; Milanese bank also accuses takeover target of disinformation campaign over its offer
Silvia Sciorilli Borrelli - Financial Times
/jlne.ws/4530zRe
Huntington Agrees to Acquire Veritex for $1.9 Billion in Stock
Yizhu Wang - Bloomberg
/jlne.ws/4nRxeks
Hedge Funds
Ex-Sequoia partner closes in on $400mn European tech fund; Matt Miller, who left the firm after a boardroom battle at Klarna, raises money to become a solo venture investor
Ivan Levingston - Financial Times
A former Sequoia Capital Partner who left the Silicon Valley firm after a bitter boardroom battle at Klarna is set to launch a $400mn UK-based venture capital fund. Matt Miller has been raising money from institutional investors in recent months, according to people familiar with the moves, seeking to become one of the best-funded solo investors focused on backing European tech start-ups. He has already secured at least $355mn from institutional investors, according to one of the people familiar with the matter, while aiming to reach a final fund size of around $400mn that will also include backing from entrepreneurs.
/jlne.ws/4eWkLb6
Private Markets
Jamie Dimon Says Private Credit Is Dangerous-and He Wants JPMorgan to Get In on It; Bank puts $50 billion toward lending to riskier companies to compete with nonbank giants; Walgreens deal the payoff
Alexander Saeedy - The Wall Street Journal
Jamie Dimon says Wall Street's hottest trend is a recipe for a financial crisis, but he's investing billions to get in on it anyway. His plan: swoop in strategically and profit if there's a meltdown. In the ballroom of the swanky Loews Hotel in Miami Beach, Dimon got on stage in front of hundreds of clients in February to talk about the boom in unregulated lending to highly indebted companies. This fast-growing market has been sidelining big banks for years, and JPMorgan Chase's chief executive said it reminded him of the craze in subprime mortgages that sparked the 2008 financial crisis.
/jlne.ws/4lQD6IC
Pensioners versus the new 'masters of the universe'; As the best brains in finance gravitate towards asset management and private capital, funds might be exposed to greater risk
Patrick Jenkins - Financial Times
After decades during which pensions in many parts of the world have been de-risked - spurred by scandal, accounting changes and other policy tweaks - the pendulum is fast swinging the other way. In many instances that may be appropriate. In others it may be open to abuse. Consider the case of Italy's sales rep pension scheme Enasarco, which was revealed last week to have allocated 67 per cent of its entire European equities portfolio to one stock, Mediobanca. That group is at the heart of a power battle over how the Italian banking sector consolidates. The scheme declined to comment on why, but critics have pointed out alliances with government figures, underpinned by the oddity that the Italian treasury is itself the pensions regulator.
/jlne.ws/44N2sk0
Private-Markets Giant Blue Owl Pushes Into 401(k)s; Firm is working with retirement-services provider Voya to offer private assets in target-date funds
Miriam Gottfried - The Wall Street Journal
Wall Street firms that invest in private assets are angling for a bigger role in Americans' retirement accounts. Investment firm Blue Owl Capital is working with retirement-services provider Voya Financial to develop products aimed at bringing private markets to 401(k)s and other defined-contribution plans, the companies said. The partnership will initially focus on creating vehicles that are essentially the building blocks of all-in-one funds known as target-date funds. These will incorporate investments in private credit and private real estate that mirror Blue Owl's existing funds for wealthy individuals, and should be available before the end of the year, executives at the investment firm said.
/jlne.ws/3TAfCvt
Private Equity
The hottest job in private equity: Keeping investors happy
Alex Nicoll - Business Insider
Fundraising in private equity used to be relatively easy. First, you'd schmooze with executives of foundations, endowments, and pension funds, and then they'd write you a check with 6, 7, or even 8 zeroes. You'd go back for an even bigger check five years later, after doubling their money. Rinse and repeat. Now, with private equity returns slumping and allocations to buyout funds increasingly maxed out, firms are finding they need to work a lot harder to get those big checks - driving up demand for professionals whose job it is to woo investors and keep them happy once they've invested. Hiring for fundraising and investor relations roles at private equity and alternative asset firms surged to a record 3,378 in 2024, nearly double 2020 levels, according to data from recruitment firm Jensen Partners. That momentum has carried into 2025, said Sasha Jensen, founder and CEO of Jensen Partners, noting that first-quarter hiring hit another record high.
/jlne.ws/4lxp6nE
The Private-Equity Maneuver Allowing More Investors to Cash Out; Continuation vehicles were once used by 'zombie funds' but now usually contain top-performing companies
Miriam Gottfried - The Wall Street Journal
In April, private-equity firm New Mountain Capital agreed to sell Real Chemistry for $3 billion after owning the fast-growing medical-marketing agency for six years. The buyer: New Mountain Capital. Real Chemistry is one of a growing number of companies being sold to a continuation fund, a vehicle that lets private-equity firms hold on to a business while giving investors in the original fund a chance to cash out. Higher interest rates and uncertainty over tariffs have made many firms reluctant to sell companies or take them public, even after the typical five-year holding period. That has led their cash-starved investors to turn in droves to the secondary market to sell their private-markets holdings, typically at a discount.
/jlne.ws/3IkC75g
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| Work & Management | | Stories impacting work and more about management ideas, practices and trends. | In America's Return to the Office, Women Are Falling Behind; More men than women are back in their cubicles, but remaining remote comes with risks
Te-Ping Chen - The Wall Street Journal
America's return to the office is unfolding unevenly for men and women. Five years ago, Covid-19 ushered in an era of widespread remote work. Since then, many workers have headed back to their cubicles-but surveys show more men have returned than women. The gap reflects both women's preferences, but also the balance they are often striking between work and family demands, according to economists. More women than ever are working outside the home, but they are also likely to bear the biggest share of responsibilities for child care and chores.
/jlne.ws/46a8Kwo
Welcome to the age of office paranoia, when layoffs, AI, and job insecurity are terrorizing workers
Juliana Kaplan - Business Insider
When Amber Smith, 28, had trouble submitting an IT support ticket, she quickly realized that her second layoff in one year had arrived. Before that, she was already jumpy. She'd be unnerved by everyday workplace tasks, like when her manager asked to hop on the phone on short notice, or a companywide meeting suddenly appeared on her calendar. It's a sign of the times as workplace power swings away from workers, and layoffs dominate headlines. While layoffs are still low relative to historic levels, they loom large in workers' minds.
/jlne.ws/40jaWxP
Britain takes aim at office bullies and cover-ups; Critics bemoan 'mission creep' as regulator expands rules on harassment
Martin Arnold and Ashley Armstrong - Financial Times
Britain has taken significant steps to crack down on the harassment, bullying and cover-ups that can make office life hazardous for many people. Supporters say the reforms, which would expand rules for misconduct in financial services and prevent companies using "gagging clauses" to silence victims of harassment, should make the workplace safer and more harmonious.
/jlne.ws/4lrSRpC
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| Wellness Exchange | | An Exchange of Health and Wellness Information | Summertime sadness is a real thing; There is, after all, nothing quite so miserable as feeling unhappy when we are meant to be feeling good
Jemima Kelly - Financial Times
As an idea, an aesthetic, a palette, I adore the summer. I love its languidness and its juiciness and its vividness, its long days and its balmy nights, the way it brings us to the water and to foreign places, the nostalgia and hazy memories of childhood it evokes. I even like the notion of its fleetingness - there is a sort of urgency inherent in it, a sense of needing to "live in the now". And yet in reality, it can be more complicated. Amid all the hedonism and the heat and the holidays, the summer can also bring a deep sense of melancholy and sadness and, for many of us, heightened anxiety. We worry that everyone else is having more fun than we are; we feel we should be outside socialising rather than indoors in front of the TV scrolling on our phones; we look at other people's beach-ready bodies and feel bad about our own; we feel anxious that it's all coming to an end too quickly.
/jlne.ws/3GFySEW
US judge stands by move to block cutting off of Planned Parenthood's Medicaid funding
Nate Raymond - Reuters
A federal judge is standing by her decision to block the implementation of a provision in U.S. President Donald Trump's recently passed tax and spending bill that would prevent Planned Parenthood health centers from receiving Medicaid funding. The Trump administration on Friday asked U.S. District Judge Indira Talwani in Boston to dissolve what it called a "highly unusual" temporary restraining order she issued hours after Planned Parenthood sued over the law on Monday.
/jlne.ws/4o4FKg7
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| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | How mining companies are adapting to newly assertive African states
Global race for critical minerals has emboldened countries to demand more control of their resources
Aanu Adeoye and Camilla Hodgson - Financial Times
Malian government helicopters landed unannounced at a Barrick Mining complex on Thursday and carted away gold, escalating a dispute between the parties and highlighting challenges facing miners as African countries assert more control over their natural resources. The trend spans west and central Africa's "coup belt" that includes Mali, Niger and Guinea, where military regimes have seized power in recent years, as well as elected governments such as in the Democratic Republic of Congo.
CMOC Boosts Cobalt Production Despite Congo Export Ban
Annie Lee - Bloomberg
China's CMOC Group Ltd. produced more cobalt at its two mines in the Democratic Republic of Congo in the first half of this year, despite the African nation's ban on exports. The world's largest cobalt miner reported a 13% year-on-year rise in production of the material, also used in batteries and alloys, to 61,073 tons during the January-June period, according to a preliminary earnings statement released on Monday.
/jlne.ws/3IHdQpW
400 tons of apricots could rot after a buyer bailed on these California farmers - this is their last hope
Jessica Wong - Moneywise
The orchard branches are weighed down with apricots, but what looks like a bountiful harvest is causing massive strain for Fantozzi Farms. The farm based in Patterson, California was on track to sell its apricot harvest to its usual buyer. But days before harvest, the deal unexpectedly collapsed.
/jlne.ws/4lL7qVc
Food Banks Are Running Out of Food Exactly When More Americans Will Need Them; 'The most challenging situation I've seen in 17 years.' Cuts to food stamps and other federal programs mean some people go home hungry.
Dan Frosch - The Wall Street Journal
Sarah Aragón glanced at the growing line of people snaking down Central Avenue, waiting for their allotment of everything from melons to pinto beans to frozen catfish. She wondered how she'll keep feeding them all. This year, the federal government has canceled food deliveries and cut hundreds of millions of dollars in annual aid to food banks. For Aragón, the head of programming for Roadrunner Food Bank, New Mexico's largest charitable food operation, that has meant losing more than seven million pounds of food she had been counting on.
/jlne.ws/4nN7fu8
A '100% American' Farm Workforce? That's Delusional; Agriculture Secretary Brooke Rollins recently set a goal. But foreign workers are a lot more eager to harvest US crops than citizens.
Justin Fox - Bloomberg
Want a job picking fruit? There are thousands available right now on the US Department of Labor's Seasonal Jobs website. Orchard work paying $19.82 an hour in Washington, $17.96 in Pennsylvania and $15.87 in West Virginia. Berry planting and picking jobs at $19.97 an hour in California, $16.23 in Florida and $16.08 in Georgia. Employers have to offer these jobs to US workers before bringing in foreigners on H-2A visas for temporary agricultural work. The sharp rise in H-2A issuance the past decade indicates that they haven't been getting many takers.
/jlne.ws/4538JJm
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