| March 07, 2025 | "Irreverent, but never irrelevant" | | | | John Lothian
Publisher
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Hits & Takes
John Lothian & JLN Staff
Commerce Secretary Howard Lutnick, a longtime bond trader, should understand inflation better than most, yet his recent comments dismissing the inflationary impact of tariffs reveal a disingenuous stance that misleads the American public. By claiming that inflation only comes from government spending/printing money and that tariffs have no role in driving up costs, Lutnick ignores basic economic realities-and the concerns of businesses already warning that they will pass higher costs on to consumers. His comparison of China's deflation and India's inflation to justify U.S. trade policy is deeply flawed, failing to account for China's economic struggles and India's ongoing battle with rising prices.
Lutnick wasn't chosen for his deep connections to American businesses but for his ability to sell Trump's economic agenda, no matter how detached from reality it is. While the Federal Reserve's Beige Book and supply chain data show clear links between tariffs and rising costs, Lutnick brushes aside business concerns as mere "whining." His Wall Street salesmanship, honed at Cantor Fitzgerald-a firm known for trading government bonds rather than engaging with Main Street businesses-doesn't translate to the leadership needed at Commerce. In a time of economic uncertainty, businesses need honesty and competence, not spin, and Lutnick's refusal to acknowledge basic economic principles only worsens instability.
SBA Administrator and former ICE executive and former U.S. Senator Kelly Loeffler announced the closure of six regional Small Business Administration offices, including Chicago's Loop location, citing the city's sanctuary status as a reason for the move, the Chicago Sun-Times reported. This decision follows President Trump's push for stricter immigration policies, with Loeffler stating that SBA loan applicants must now verify U.S. citizenship to prevent taxpayer-funded support for undocumented immigrants. While the agency claims services will remain unaffected, business advocates warn that the closure will disrupt access to essential resources for small businesses, harming local economies and entrepreneurs who rely on SBA programs.
The Chicago business community strongly opposes the decision, emphasizing that small businesses should not be caught in political battles. Elliot Richardson of the Small Business Advocacy Council and Tasha Brown of Small Business Majority argue that losing an SBA office in a city with over 100,000 businesses will make it harder for entrepreneurs to access funding and guidance. Jacqueline Jackson, an SBA-backed Kilwins franchise owner, credits the agency for her business success and warns that removing these offices is a major setback for small businesses and their communities. Critics urge the SBA to reconsider, citing the economic harm and loss of support for entrepreneurs who fuel local job creation and growth.
Nasdaq President Tal Cohen has written a commentary that goes along with the lead story. In his commentary, titled "The Markets Never Sleep, Should Trading?" Cohen explains that Nasdaq is exploring the introduction of 24-hour trading, five days a week, aiming to expand global investor access and enhance market opportunities. With foreign holdings of U.S. equities reaching $17 trillion and increasing participation from APAC investors, demand for round-the-clock trading is rising. However, concerns about liquidity, volatility, and corporate issuer reservations highlight the need for careful planning. Nasdaq emphasizes that industry-wide coordination, regulatory engagement, and technological resilience are essential to ensure stability and trust. While overnight trading already exists in alternative venues, Nasdaq seeks to formalize and improve the experience, leveraging its expertise to create a seamless, transparent, and efficient 24-hour trading ecosystem by the second half of 2026, pending regulatory approval.
CFTC Commissioner Summer K. Mersinger and SEC Commissioner Hester M. Peirce will participate in a fireside chat at the Alternative Investment Management Association's Global Policy & Regulatory Forum on March 11, 2025, from 4:35 p.m. to 5:10 p.m. EDT. The discussion will take place at Convene, 117 West 46th Street, New York, NY, and will focus on key regulatory and policy issues affecting alternative investments.
A global shortage of antimony, a critical metal used in munitions, batteries, and flame retardants, may worsen as the U.S. and Europe replenish weapons stockpiles depleted by the Ukraine war, Bloomberg reported. Prices have surged nearly 300% amid China's export restrictions, exacerbating supply concerns in an industry dominated by China, Russia, and Tajikistan, which control 87% of global production. While this could spell trouble for defense and high-tech industries, it presents an opportunity for new Western supply chains, with Australia's Larvotto Resources set to launch a major antimony mine next year. Depending on your perspective, this could be bad news for manufacturers and military planners facing higher costs or good news for Western miners seeking to reduce dependence on geopolitical rivals.
If you're in Canada and craving bourbon or California wine, you may be out of luck. In retaliation for President Trump's tariffs on Canadian exports, provinces across Canada have begun pulling American alcohol from liquor store shelves, The New York Times reports. Ontario alone removed 3,600 U.S. products, with other provinces following suit. While some private liquor stores may still carry American brands, the move has fueled a grassroots push to buy Canadian-made products. Whether this is economic patriotism or an overreaction depends on your perspective, but for now, don't expect to find your favorite U.S. spirits or wines easily north of the border.
A 1987 radio address by Ronald Reagan, in which he criticizes tariffs and promotes free trade, has gone viral among bankers and business executives, including JPMorgan CEO Jamie Dimon, who has reportedly been sharing it internally, The New York Post reported. The video has struck a chord with Wall Street Democrats nostalgic for a time when conservatism aligned with globalist business interests. However, the selectively edited clip omits a key moment where Reagan announced tariffs on Japan for trade agreement violations, undermining the intended message. For some, invoking Reagan is seen as a strategic way to push back against Trump's tariff policies, offering a Republican-friendly argument against protectionism. The core message Reagan delivers about tariffs is right on the mark, though.
The STAC Fund Scholarship is now accepting applications for the 2025-2026 academic year, offering financial support to Chicago-area high school seniors and college students. The scholarship is open to all applicants, regardless of STAC affiliation. Last year, 21 local students received awards. For more details go HERE.
Here are the headlines from in front of FOW's paywall from some recent stories: ICE hits Euribor volume record after European rates shift, SGX monthly volumes boosted by US trade-related volatility, US bond clearing delay allows time to tackle operational issues - fintech, BGC taps Tradition's agency broking head for senior London role, Volatility to drive growth as Marex reports record year - CEO Lowitt and ANALYSIS: KRM22 winning key clients for trading limits manager.
Paul Cusenza, the chairman and CEO of Nodal Exchange, joined FIA President and CEO Walt Lukken in an FIA MarketVoice podcast. You can listen to it HERE.
Cameron Smith, global head of trading and co-president of the Texas Stock Exchange, is recruiting on LinkedIn for people who like start-up environments, are interested in living in Dallas, and think they can contribute to its success.
R.J. O'Brien will hold its 29th Annual IB conference in 14 days and they are welcoming non-RJO Introducing Brokers to attend. Contact Gerry Corcoran if you are interested.
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:
- FIA releases findings from derivatives industry survey from FIA.
- Options Traders Pile Into Bearish Bets On Popular ETF from The Wall Street Journal.
- Investors question 'Trump put' as tariffs rattle stock markets from Reuters. ~JB
Subscribe to the JLN Options Newsletter HERE (it's free).
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Reading Your Statement : Futures Discovery Ep. 19
JohnLothianNews.com
Reading Your Statement
Today, we're diving into the intricate world of reading your trading statement, a topic that can shape the flow of your futures trading journey.
Watch the video »
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Yass' Fortune Tops $63 Billion, Overtaking Wall Street Rivals
Tom Maloney - Bloomberg
Last March, Jeff Yass resigned himself to Donald Trump being the Republican candidate for president and went all-in. The poker-loving trader invited Trump to speak at a Club for Growth event after the conservative group had shunned the former president in favor of his rivals during the primaries. It came at a crucial time for Trump, who was still dealing with the costs of multiple lawsuits and didn't yet have the backing of the world's richest man, Elon Musk.
/jlne.ws/41IMEhA
****** TikTok, Yass has $63 billion, TikTok.~JJL
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Scila strengthens team with Head of Marketing & Communications; Industry veteran joins Scila to fuel continued growth and global expansion
Scila AB
Scila AB, a leading provider of innovative surveillance and risk management solutions for the financial industry, today announced the appointment of Fredrik Backlund for the new role as the company's Head of Marketing & Communications. Backlund brings a wealth of experience in building and leading marketing and communications functions at successful B2B companies, primarily in the telecom and fintech sectors. "Scila has always been, and will always be, a technology-focused company," says Mikko Andersson, CEO of Scila. "With approximately 90% of our employees dedicated to R&D and delivery, we've built a strong foundation of innovation and expertise. As we enter the next phase of our growth journey, with exciting opportunities in both our traditional surveillance business and our emerging risk management offering, we recognize the importance of strengthening our team with enhanced expertise across various areas. Fredrik's proven track record in building and scaling marketing and communications functions makes him a valuable addition to Scila."
/jlne.ws/3DuO1an
***** This is a brilliant hire by Scila to bring Cinnober's former head of marketing and communications Fredrik Baklund into the company. Baklund was terrific at Cinnober and one of my favorite people to work with at a company full of terrific people.~JJL
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Peter Thiel's Deep Ties to Trump's Top Ranks; The tech magnate has many links to the new Trump administration and the cost-slashing effort led by Elon Musk.
Sophie Alexander and Jamie Tarabay - Bloomberg
A billionaire tech entrepreneur who used his wealth and influence in Silicon Valley to help Donald Trump win the presidency has deep connections to the new administration's efforts to remake the government. His name? Peter Thiel. While Elon Musk and a crew of longtime employees and young acolytes have been fanning out across Washington under the banner of the Department of Government Efficiency, more than a dozen people with ties to Thiel - including current and former employees of his companies, as well as people who have helped manage his fortune or benefitted from his investments and charitable giving - have been folded into the Trump administration.
/jlne.ws/3F7HOlj
***** Peter Thiel is a walking contradiction - a libertarian who rails against government overreach, yet whose company Palantir thrives on government contracts with intelligence agencies. He preaches free-market principles but dismisses competition as a "loser's game," arguing that monopolies are the true goal of business. While most tech leaders push for open markets, Thiel champions control, believing that dominance-not innovation-is what drives success. His mix of anti-government rhetoric and deep entanglement with federal agencies makes him one of Silicon Valley's most paradoxical and influential figures.~JJL
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Trump's Tariffs Are No 'Emergency'; The President invokes a law that doesn't give him power to impose sweeping tariffs. Someone should sue.
The Editorial Board - The Wall Street Journal
President Trump delayed his Mexico-Canada tariffs again on Thursday-this time for another month. He's treating the North American economy as a personal plaything, as markets gyrate with each presidential whim. It's doubtful Mr. Trump even has the power to impose these tariffs, and we hope his afflatus gets a legal challenge. The Constitution gives power over trade to Congress, which for most of U.S. history wrote tariff law. That changed after the catastrophe of the 1930 Smoot-Hawley tariff, as Congress said stop us before we kill the economy again and ceded authority to the President to negotiate bilateral trade deals. It ceded more power after World War II.
/jlne.ws/3Dz3mXv
***** Will someone please challenge the legality of President Trump's phony emergency use of tariffs?~JJL
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Thursday's Top Three
Our top clicked item Thursday was FIA releases findings from derivatives industry survey, from the Futures Industry Association. Second was a tie between They Were the Watchdogs (Within days of taking office, President Trump fired 16 inspectors general from across the federal government), an opinion piece in The New York Times, and [[https://jlne.ws/3Fhk7qC|DMIST annual report outlines successes of 2024, from the FIA. Third was February 2025 Monthly Volume Data from the OCC.
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| Lead Stories | Nasdaq Joins Exchanges Seeking to Offer Round-the-Clock Trading
Katherine Doherty - Bloomberg
Nasdaq Inc. plans to offer 24-hour trading on its equities exchange, the latest venue seeking to capitalize on growing global demand for US stocks. The second-largest US exchange operator plans to enable the extended trading five days a week, according to Nasdaq President Tal Cohen. It expects to start round-the-clock trading in the second half of 2026, pending regulatory approval and alignment with the rest of the industry, Cohen said in a post on LinkedIn.
/jlne.ws/3XvYSYu
Citadel Securities' $9.7 Billion Trading Revenue Passes Barclays
Carmen Arroyo and Katherine Doherty - Bloomberg
Citadel Securities reported its largest ever trading haul, surpassing the tally at some of Europe's biggest banks to cement itself among the world's trading behemoths. Full-year trading revenue rose 55% to $9.7 billion from the previous year, according to people familiar with the matter who asked not to be identified discussing private information. That topped a previous record of $7.5 billion set in 2022.
/jlne.ws/4kv5TTh
President Trump signs order to establish Strategic Bitcoin Reserve, will hold as store of value akin to Fort Knox
Jason Shubnell - The Block
Less than a week after announcing his administration's push for a "crypto strategic reserve," U.S. President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve on Thursday night. "The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings," White House AI and Crypto Czar David Sacks wrote in a post on X. "This means it will not cost taxpayers a dime."
/jlne.ws/3QNFVwF
Trump's Crypto Project Appears to Buy Tokens Before White House Summit
Muyao Shen - Bloomberg
President Donald Trump's decentralized-finance project World Liberty Financial appears to have bought more than $20 million worth of cryptocurrencies including Ether two days before executives at major digital-asset companies are set to visit the White House to discuss crypto policy. A digital wallet belonging to World Liberty Financial added $10.1 million of Ether, $9.9 million of a Bitcoin derivative called WBTC and $1.68 million of MOVE, a token associated with blockchain platform Movement, according to data compiled by analytics firm Nansen. Representatives for World Liberty did not immediately respond to requests for comment. The moves were reported earlier by The Block.
/jlne.ws/3F70HF0
Donald Trump's crypto project netted $350mn from presidential memecoin; FT analysis shows potential windfall for US president in three weeks following launch in January
Oliver Hawkins, Eade Hemingway and Nikou Asgari - Financial Times
Donald Trump's crypto project made at least $350mn from the launch of his memecoin, a windfall that is likely to fuel concerns over conflicts of interest arising from the token. Digital wallets owned by the entities running the scheme earned the money from sales of $TRUMP in the three weeks after it was launched in January, according to a Financial Times analysis of blockchain data.
/jlne.ws/3Fd26dm
The Polarizing Crypto Executive Who Wooed His Way Into Trump's Orbit; Ripple CEO Brad Garlinghouse stands to benefit from the inclusion of the XRP token in a U.S. digital-asset stockpile
Alexander Osipovich, Vicky Ge Huang and Amrith Ramkumar - The Wall Street Journal
Many executives have made pilgrimages to Washington and Florida to woo President Trump. Few have been as successful as Brad Garlinghouse. Just a few years ago, the chief executive of cryptocurrency firm Ripple was fighting a lawsuit from the Securities and Exchange Commission that threatened to crush its business. Now, as the White House prepares to host its first-ever crypto summit Friday, Garlinghouse is emerging as one of the biggest winners from Trump's plan to consolidate the U.S. government's crypto holdings. He has also become one of the most divisive figures in the tribal cryptocurrency industry.
/jlne.ws/3F5IUhA
Conflict-of-interest questions surface as CFPB stripped of its power to regulate Elon Musk's X
Chris Morris - Fortune
Democratic lawmakers are calling for a federal ethics office probe after the Senate voted to strip the Consumer Financial Protection Bureau (CFPB) of its power to oversee digital platforms.= While the changes must also be approved by the House of Representatives, such an action would prevent the CFPB from monitoring digital payment offerings, as it does with traditional financial institutions. That could open the doors for social media sites like Twitter/X to begin handling people's money. Elon Musk, whose so-called Department of Government Efficiency (DOGE) has been spearheading many of the changes to financial agencies, wants to turn X into an "everything app" that includes peer-to-peer payments and has already struck a deal with Visa.
/jlne.ws/43pVzpv
The King must stand up to Donald Trump, says Canadian politician; Danielle Smith says the monarch has a duty to confront the US president in his role as head of state
Memphis Barker - The Telegraph
The King should stand up to Donald Trump over his threat to annex Canada because it is a "direct confrontation" to British sovereignty, the head of the Commonwealth nation's richest province has said. In an interview with The Telegraph, Alberta premier Danielle Smith said that the King had a duty to confront the US president in his role as head of state.
/jlne.ws/4iumN2u
Head of Small Business Administration closing Chicago office, citing 'sanctuary city' status; Business advocates say closing the Chicago office on South Michigan Avenue harms small businesses that need support.
Amy Yee - Chicago Sun-Times
The U.S. Small Business Administration will close and relocate its office in the Loop, as well as five others in sanctuary cities across the country, the agency announced on Thursday. In coming months, the SBA regional offices in Chicago, Atlanta, Boston, Chicago, Denver, New York City and Seattle "will be moved to less costly, more accessible locations that better serve the small business community and comply with federal immigration law," the agency said in a news release. The SBA's Springfield office was not included on the list.
/jlne.ws/3XvuXj6
America Is Finding Out It's Very Difficult to Import Eggs
Agnieszka de Sousa, Nayla Razzouk, and Eko Listiyorini - Bloomberg
US officials are searching across oceans to find enough eggs to ease a shortage that's sent prices soaring, forcing grocery stores to limit customer purchases and restaurants to add surcharges. Poultry trade groups in countries like Poland - the world's second-biggest shipper - to smaller players, like France and Indonesia, say their nations are fielding inquiries from American embassies and the US Department of Agriculture about eggs for export.
/jlne.ws/4ilOn2c
Small federal agency blocks DOGE employees from entering its building; The U.S. African Development Foundation denied several DOGE employees access to its offices Wednesday, as DOGE makes sweeping eliminations across federal agencies.
Brianna Tucker and Emily Davies - The Washington Post
Several employees of the U.S. DOGE Service, the organization overseen by Elon Musk that is tasked with slashing the size of the federal government, were blocked Wednesday afternoon from entering a small U.S. aid agency focused on African economic development. The standoff, which lasted about an hour at the U.S. African Development Foundation (USADF) headquarters in downtown Washington, is one of the latest acts of resistance from federal employees as DOGE subordinates attempt to access data systems and federal grants.
/jlne.ws/41I23il
DOGE is driving Social Security cuts and will make mistakes, acting head says privately; The Social Security Administration's acting commissioner said members of Elon Musk's cost-cutting team are outsiders who are unfamiliar with the nuances of the agency's programs.
Lisa Rein, Jeff Stein and Hannah Natanson - The Washington Post
The newly installed caretaker at the Social Security Administration acknowledged this week that Elon Musk's U.S. DOGE Service is calling the shots as the agency races to slash thousands of jobs and shrink its budget, telling a group of advocates, "Things are currently operating in a way I have never seen in government before." In a meeting Tuesday with his senior staff and about 50 legal-aid attorneys and other advocates for the disabled and elderly, acting SSA commissioner Leland Dudek referred to the tech billionaire's cost-cutting team as "outsiders who are unfamiliar with nuances of SSA programs," according to a meeting participant's detailed notes that were obtained by The Washington Post.
/jlne.ws/3FilLs4
Corporate America isn't talking about anything but tariffs right now
Josh Schafer - Yahoo Finance
Tariffs are the talk of corporate America right now. As updates on President Trump's tariff plans have prompted whipsaw action in markets over the past several days, mentions of tariffs on earnings calls have skyrocketed. According to Bloomberg data, tariffs were mentioned 384 times on earnings conference calls over a three-month rolling period through March 5. In the past five years, no similar period has seen more than 100 mentions.
/jlne.ws/3FaLBys
Japan's Trading Houses Jolted by Super-Size Block Trades
Yasutaka Tamura - Bloomberg
A spate of unusually large block trades in Japanese trading houses and insurers has put investors on edge in Tokyo. There have been at least six block trades in Mitsui & Co. shares totaling ¥113 billion ($765 million) since Feb. 26, and a single trade of ¥15 billion in Itochu Corp., according to data compiled by Bloomberg. Each transaction represented more than 60% of the stock's average daily volume over 20 days.
/jlne.ws/3Dk8tLe
Metal For Bullets Risks Bigger Shortage After Near-300% Surge
Paul-Alain Hunt - Bloomberg
A global shortage of antimony - widely used in munitions - could worsen as the US and Europe replenish stockpiles of bullets and bombs used in Ukraine, according to the company building one of the niche metal's few new sources of supplies. Larvotto Resources Ltd. is due to start a mine in Australia next year, offering a rare new stream of output from a Western nation in an antimony industry dominated by China and Russia. Prices of the metal are nearly four times higher than a year ago, after Beijing tightened exports of critical materials, triggering a scramble for supplies across high-tech and defense industries.
/jlne.ws/43qatMq
FIA Boca 2025: Can Futures Markets Keep Up with a World in Flux?
Guy Melamed - Melamed Partners
Markets are no longer just volatile they are unpredictable. From escalating trade wars to governments rewriting fiscal policies, financial institutions are struggling to adjust to an environment where traditional risk models are no longer sufficient. The futures industry, designed to provide stability, is now at a crossroads. Can it still offer meaningful protection, or is it being outpaced by geopolitical and economic shifts beyond its control?
/jlne.ws/41nzBRi
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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. | Trudeau says US tariff war to drag on, Bessent calls him a 'numbskull'
David Ljunggren and Promit Mukherjee - Reuters
Canada will be in a trade war with the United States for the foreseeable future, Prime Minister Justin Trudeau said on Thursday, speaking shortly before U.S. Treasury Secretary Scott Bessent called him "a numbskull". Trudeau said Canada would continue to engage with senior Trump administration officials about tariffs Washington says it will impose on Canadian imports, reiterating that his goal was to get the measures removed.
/jlne.ws/4hiU7sd
Tariff Anxiety and the Dilemma of Forecasting; Investors want clarity. Will the Trump administration stand up to the market?
John Authers - Bloomberg Opinion
Tariffs Tremors
Paraphrasing FDR, there is an argument that we have nothing to fear from tariffs, save tariff fear itself. There are arguments that the cost might not be that high, but forecasting is maddeningly difficult because US policy is so inconsistent. Thursday, the US lifted the 25% tariffs on Mexico and Canada three days after it imposed them. This was what many wanted to hear, but amped up the uncertainty and volatility surrounding trade policy.
/jlne.ws/41tz2pe
Commerce Secretary Lutnick Says the Darndest Things; A refusal to consider the inflationary effects of tariffs shows he is out of touch with American businesses.
Robert Burgess - Bloomberg Opinion
When the President of the United States is a fabulist extraordinaire, the hope is that at least the administration's cabinet members would be grounded in reality. Howard Lutnick's recent defense of tariffs suggests otherwise. As secretary of commerce, whose job is to "foster, promote, and develop the foreign and domestic commerce of the United States," one would expect Lutnick to be attuned to the needs and concerns of the business community. But this week showed just how out of touch he is with corporate America, a constituency that has become visibly nervous about the administration's dubious approach to commerce faster than anyone could have forecast. Take this exchange with CNBC's Joe Kernan on Tuesday:
/jlne.ws/4ky6MKL
Canadian Crude Wins Reprieve From Trump's Tariffs on Neighbors
Jennifer A Dlouhy and Robert Tuttle - Bloomberg
Crude is among the beneficiaries of President Donald Trump's one-month reprieve on tariffs for some imports from Canada and Mexico, a boost to oil industry leaders initially concerned that it wouldn't secure relief. Under orders signed Thursday, the tariffs, meant to encourage the countries to combat illegal immigration and fentanyl trafficking, will not apply to goods covered by the North American trade agreement known as USMCA.
/jlne.ws/41JLwu9
Finance Executives Seek Stability Amid Erratic Tariff Shifts; At WSJ CFO summit, executives from Johnson & Johnson to Apollo weigh in on Trump-induced volatility
Kristin Broughton, Mark Maurer and Jennifer Williams - The Wall Street Journal
Finance executives are stressing the importance of a steady hand in the C-suite and a clear-eyed view of business risks as their companies confront a thicket of unknowns on tariffs and other policy changes under the Trump administration. Chief financial officers discussed the need to provide stability in steering a company's finances through periods of uncertainty during the Wall Street Journal CFO Network Summit on Thursday.
/jlne.ws/3XyNk6N
IMF Says US Tariffs Risk 'Significant' Hit to Canada, Mexico
Manuela Tobias - Bloomberg
The IMF warned Canada and Mexico are vulnerable to "significant adverse economic impact" if President Donald Trump sustains tariffs on those countries given their exposure to US markets. Trump's plans to use tariffs against its closest trading partners, as well as China and others, is already causing increased financial volatility and global uncertainty, International Monetary Fund spokeswoman Julie Kozack said Thursday during a regular press briefing.
/jlne.ws/4h9WXjo
Trump Says He Will Delay Mexico Tariffs on Goods Under USMCA
Josh Wingrove - Bloomberg
/jlne.ws/4i6BRnk
Trudeau reduced to tears after 'colourful' phone call with Trump over tariffs
Kieran Kelly - The Telegraph
/jlne.ws/41Nqnza
Spooked China Exporters Say US Consumers Will Share Tariff Pain
Bloomberg News
/jlne.ws/4kuYKSY
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| World Conflicts | | News about various conflicts and their military, economic, political and humanitarian impact. | Ukraine Invasion
Macron has forgotten what happened to Napoleon, says Putin after 'nuclear threat'
Iona Cleave - The Telegraph
Vladimir Putin warned Emmanuel Macron to remember what happened to Napoleon after the French leader said he was considering extending France's nuclear umbrella to European allies. In a speech to the nation on Wednesday night, Mr Macron called Russia a "threat to Europe", said he would consider plans to expand his country's nuclear deterrent and again raised the option of European peacekeeping troops in Ukraine. In a barely veiled threat, the Russian president responded: "There are still people who want to go back to the times of Napoleon, forgetting how it ended
/jlne.ws/4i7qoDQ
Trump is recklessly dragging the world to the brink of another global conflict; The president's treatment of Ukraine is disgraceful and short-sighted. A deal with Putin will not lead to peace
Dalibor Rohac - The Telegraph
More than any other politician, president Donald Trump excels in his ability to reframe political conversations in terms favourable to him. To any fair-minded observer, his lashing out against Volodymyr Zelensky last Friday was disgraceful, as was his regurgitation of Russian talking points - about Zelensky supposedly provoking World War Three or about a putative $300 billion in US aid (an apparent invention of Kirill Dmitriev, the chief executive of Russia's sovereign wealth fund). Yet, much of the subsequent coverage in the United States focused on Zelensky and his failure to keep his cool, or to wear a suit to the Oval Office.
/jlne.ws/3XxW8Kd
Keir Starmer makes fresh diplomatic push for Ukraine peace plan; UK prime minister talks to around 20 countries about joining 'coalition of the willing'
George Parker and Henry Foy - Financial Times
Sir Keir Starmer has assembled around 20 countries interested in forming a "coalition of the willing" to support Ukraine after any ceasefire, European officials said on Thursday. The group of countries, said to be "largely European and Commonwealth partners", held talks this week as frantic transatlantic discussions took place to try to secure a truce in Ukraine's war with Russia. British officials declined to name the countries that took part in the talks. "This is still early stages and the situation is very fluid," said one, but added: "This is a hugely positive step." Last Sunday the UK prime minister hosted the leaders of 13 mainly European countries for talks about forming a "coalition of the willing" to support Ukraine.
/jlne.ws/41vJmNk
Zelenskiy Top Aide Says US and Ukraine Negotiators to Meet Soon
Aliaksandr Kudrytski - Bloomberg
Officials from Ukraine and the US will soon meet to resume discussions about peace and security, said top Ukrainian presidential aide Andriy Yermak on Telegram following his call with US National Security Adviser Mike Waltz on Wednesday.
/jlne.ws/41Ki3QK
Lithuanian Spy Agency Says Diplomacy Unlikely to Work in Ukraine
Milda Seputyte - Bloomberg
A diplomatic solution to Russia's invasion of Ukraine is unlikely in the next six months as President Vladimir Putin is confident he will eventually prevail, Lithuania's foreign intelligence service said in an annual report. Moscow has the resources to continue the war, which is popular in Russia, for years to come, according to the report released Friday. The Kremlin also maintains that peace with Ukraine is only achievable on its own terms and that the West and Kyiv must accept defeat, it said.
/jlne.ws/4knQNim
The Kremlin Keeps Escalating; Russia responds to Trump by raising its 'peace' demands.
The Editorial Board - The Wall Street Journal
President Trump assures Americans that Vladimir Putin wants "peace" in Ukraine, but the key question is what kind of peace? The answer seems to be a peace of subjugation in which Ukraine is left to defend itself with no outside help until Russia decides to invade again. That's the implication of Thursday's comments from Sergei Lavrov, the Russian foreign minister, that the Kremlin won't tolerate Western European troops on Ukrainian soil.
/jlne.ws/4krkCyx
Middle East Conflict
Trump Envoy Floats U.S.-Israel Action Against Hamas if Hostages Aren't Released; Middle East envoy Steve Witkoff says he hopes the situation could be resolved diplomatically
Alexander Ward and Alex Leary - The Wall Street Journal
President Trump's Middle East envoy floated the threat of joint U.S.-Israel action against Hamas if the terrorist group didn't release all hostages from Gaza. "I think there's going to be some action taken" if Hamas fails to surrender its hostages, Steve Witkoff told reporters Thursday outside the White House. "It could be jointly with the Israelis."
/jlne.ws/3Do4SM3
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| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | Cboe Announces Promotion of Chief Technology Officer Tim Lipscomb to Executive Vice President
Cboe Global Markets
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced the promotion of Tim Lipscomb to Executive Vice President, Chief Technology Officer, and appointment to the company's executive leadership team. In this role, Mr. Lipscomb will continue to oversee the expansion of Cboe's technology platform globally, further reinforcing the importance of technology and innovation to the company's organic growth strategy.
/jlne.ws/3QTBekQ
Lithium Carbonate Futures Now Live for Trading on Abaxx Exchange
Abaxx
Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) ("Abaxx" or the "Company"), a financial software and market infrastructure company, indirect majority shareholder of Abaxx Singapore Pte Ltd. ("Abaxx Singapore"), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, "Abaxx Exchange" and "Abaxx Clearing"), and producer of the SmarterMarkets Podcast, today announced that its three regional, physically-deliverable Lithium Carbonate futures contracts are now live for trading.
/jlne.ws/4ir3OG8
BME opens the stock market session with a Ringing of the Bell for Gender Equality
BME-X
The Spanish Stock Exchange began today's session with an honorary Ringing of the Bell for Gender Equality to commemorate International Women's Day. The ringing of the bell was led by Paula Conthe, Secretary General of the Treasury and International Finance, and Paloma MarÃn, Vice President of the CNMV, accompanied by Cristina Sánchez, Executive Director of the UN Global Compact Spain, and Juan Flames, CEO of BME.
/jlne.ws/4ipthzC
Cboe Canada Completes Technology Migration
Cboe Global Markets
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced it successfully migrated Cboe Canada's NEO-L, NEO-N, and NEO-D trading books (collectively, the NEO Trading Platform) to Cboe Titanium on March 3. Cboe Titanium is the new name of the technology platform powering Cboe's world-class exchange operations for trading equities, options, and futures across its markets globally.
/jlne.ws/3XtYp9g
CME BrokerTec sets new single-day volume record
Daniel Tison - Securities Finance Times
CME Group's BrokerTec business has reached a new single-day volume record, with US$1.05 trillion in average daily notional volume (ADNV) traded on 3 March. Surpassing the ADNV of US$909 billion for February 2025, this new all-time high was driven by a series of individual product records across US Treasuries, US and EU repo, as well as European Government Bond central limit order book (CLOB), request-for-quote (RFQ), and streaming platforms.
/jlne.ws/3Fajijr
Performance Bond Requirements: Agriculture and Metals Margins - Effective March 07, 2025
CME Group
As per the normal review of market volatility to ensure adequate collateral coverage, the Chicago Mercantile Exchange Inc., Clearing House Risk Management staff approved the performance bond requirements for the following products listed in the advisory at the link below. The rates will be effective after the close of business on March 07, 2025.
/jlne.ws/3DoeHK3
Performance Bond Requirements: Agriculture, Energy, FX and Metal Margins - Effective March 07, 2025
CME Group
As per the normal review of market volatility to ensure adequate collateral coverage, the Chicago Mercantile Exchange Inc., Clearing House Risk Management staff approved the performance bond requirements for the following products listed in the advisory at the link below. The rates will be effective after the close of business on March 07, 2025.
/jlne.ws/3DxliBP
JSE Rings the Bell to Ignite a Wave of Gender Equality in Honour of International Women's Day
JSE
This global symbolic bell-ringing ceremony, spearheaded by the World Federation of Exchanges (WFE) in collaboration with the International Finance Corporation (IFC), the Sustainable Stock Exchanges (SSE) Initiative, UN Global Compact, and UN Women, underscores the critical role of financial markets in advancing gender equality. This year's campaign aligns with the International Women's Day 2025 theme: "For ALL Women and Girls: Rights. Equality. Empowerment". Marking the 30th anniversary of the Beijing Declaration and Platform for Action, this moment calls for bold action to dismantle systemic barriers and accelerate gender parity.
/jlne.ws/3Dpy9Gi
JPX Data Services to be Offered on Snowflake
JPX
JPX Market Innovation & Research, Inc. ("JPXI"), a leading global provider of Japan's financial market data, announced that J-Quants Pro datasets will be offered on Snowflake's market-leading data cloud platform later in March 2025. This is the first of JPX's rich and varied data services that will be disseminated via Snowflake as part of the two companies' priority partnership.
/jlne.ws/3FdsSSL
Clear Margin Collateral Haircuts Update
LME
LME Clear Members are advised that new margin collateral haircuts have been set, as marked on the website located here: https://www.lme.com/en/Clearing/Collateral-management/Haircut-methodology
/jlne.ws/3Fd68T2
Extended Trading Hours: Why We Must Solve the Industry's Corporate Action Problem Now
MEMX
24-hour trading has become a hot topic in the U.S. equities market. To date, the U.S. Securities and Exchange Commission ("SEC") has approved two applications for exchanges to trade during overnight hours, one from the 24X National Exchange LLC ("24X")[1] and the other from NYSE Arca, Inc ("Arca").[2]However, both of those approvals are contingent on the Securities Information Processors ("SIPs") being available during those hours to disseminate real-time, consolidated quote and trade information. While much of the discussion surrounding the SIPs has focused on the hours that the SIPs will be open for business, there are important market microstructure questions to answer as well. One that has not gotten enough attention involves the processing of corporate actions.
/jlne.ws/3FnNdVi
Miami International Holdings Announces Launch of Hourly Bitcoin Range Binary Options on MIAXdx
MIAX
March 7, 2025 - Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced the launch of Bitcoin Range Binary (BTCRB) Options on its MIAX Derivatives Exchange (MIAXdx). BTCRB Options are fully-collateralized, cash-settled binary options on Bitcoin (BTC) that expire each trading hour and are settled to the dxFeed Bitcoin Reference Index. BTCRB Options are offered on MIAXdx in $10 units with a minimum tick size of $0.01.
/jlne.ws/4iwjxng
Miami International Holdings Participates in Ring the Bell for Gender Equality Campaign for International Womens Day
MIAX
Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, announced it ceremoniously rang the opening bell at its Princeton, N.J. headquarters on March 5, 2025, in honor of the World Federation of Exchanges' (WFE) "Ring the Bell for Gender Equality" campaign. The campaign aligns with International Women's Day on March 8, 2025.
/jlne.ws/3FbDTUD
Notice on Self-Regulation Information in February 2025
SHFE
Shanghai Futures Exchange (hereinafter referred to as "the Exchange") has been on continuous efforts in conducting self-regulation, so as to strengthen the risk management of the futures market, regulate the futures trading activities and protect the legitimate rights and interests of futures market participants. The self-regulation information in February 2025 is listed as follows: In the aspect of administration of abnormal trading behaviors, the Exchange has dealt with 22 cases, among which 14 cases were self-trades, 8 cases were frequent order cancellations. The Exchange has separately notified the relevant clients by phone through the members, notified 1 abnormal trading behavior to all the members.
/jlne.ws/41Mgpya
March Newsletter
TAIFEX
/jlne.ws/3XwcDq6
Toronto Stock Exchange Celebrates 35 Years of ETF Innovation; World's first ETF launched on TSX in 1990; industry marks milestone with a special market close ceremony
TMX
Today, Toronto Stock Exchange (TSX) proudly marks the 35th anniversary of the world's first exchange-traded fund (ETF) with a special market close event featuring guests from across Canada's ETF industry. The Toronto 35 Index® Participation Units, or TIPs, the world's first exchange-traded, index-linked product, was launched on March 9, 1990, and served as the prototype for the modern-day ETF. As ETFs have grown into a leading global investment vehicle, the Canadian ETF market has remained at the forefront of the industry, with TSX leading the way in innovation, including listing the world's first fixed income ETF in 2000 and the world's first Bitcoin ETF in 2021.
/jlne.ws/4ia6kRh
Rich Repetto Appointed to Tradeweb Board of Directors
Tradeweb
Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the appointment of Rich Repetto to its Board of Directors, effective as of March 6, 2025. Mr. Repetto will also serve as a member of the board's Audit and Risk Committee. Mr. Repetto brings more than 25 years of industry experience to our board, having served as Managing Director and Senior Research Analyst at Piper Sandler Corporation until his retirement in June 2023. Prior to that, he was a Principal at Sandler O'Neill and Partners, the predecessor entity to Piper Sandler Corporation.
/jlne.ws/3Dc9Xap
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| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | Trading Technologies names new CEO amid rapid growth
Mark Weinraub - Crain's Chicago Business
Chicago-based Trading Technologies is promoting its chief operating officer, Justin Llewellyn-Jones, to chief executive officer following a period of rapid growth, the maker of software for the trading community said today. Llewellyn-Jones, who joined the firm in January 2024, is taking the helm from Keith Todd, who was named the company's deputy chairman. The change will be effective March 31.
/jlne.ws/3F8tcSM
RiskExec Announces Integration with Encompass by ICE Mortgage Technology
RiskExec, Inc.
RiskExec, Inc. ("RiskExec"), a SaaS-based compliance reporting and analysis platform, today announced the successful integration of its HMDA software module with Encompass by ICE Mortgage Technology using the latest Encompass Partner Connect API framework from Intercontinental Exchange (ICE) for mortgage technology. This modern framework enables industry participants to integrate with ICE solutions and provide their services to loan originators and servicers through secure API-enabled technology.
/jlne.ws/4iwxodi
OpenAI, Oracle Eye Nvidia Chips Worth Billions for Stargate Site
Rachel Metz and Brody Ford - Bloomberg
OpenAI and Oracle Corp. plan to begin filling a massive new data center in Texas with tens of thousands of powerful AI chips from Nvidia Corp. in the coming months, part of a push to get the first facility for their $100 billion Stargate infrastructure venture up and running. The site, in the small city of Abilene, is expected to house 64,000 of Nvidia's coveted GB200 semiconductors by the end of 2026, according to a person familiar with the matter. The chips will be added to several halls of the data center in phases, with an initial rollout of 16,000 set to be completed by this summer, said the person, who spoke on condition of anonymity to discuss internal plans.
/jlne.ws/4ia9IM0
Former Wall Street rainmaker leads purge of US chips subsidies agency; Elon Musk ally Michael Grimes has overseen shake-up of office doling out billions of dollars in semiconductor subsidies
Michael Acton - Financial Times
A former top Wall Street banker and longtime Elon Musk ally has led a purge of the US government office charged with administering billions of dollars in semiconductor subsidies. The Chips Program Office, a three-year-old agency at the heart of US attempts to bring vital chip manufacturing back to America, has become the latest target of the Trump administration's attack on government bureaucracy.
/jlne.ws/3FnJKWM
J-Quants Pro datasets to be offered on Snowflake's data cloud platform
Maria Nikolova - FX Newsgroup
JPX Market Innovation & Research, Inc. (JPXI), a global provider of Japan's financial market data, announced that J-Quants Pro datasets will be offered on Snowflake's data cloud platform later in March 2025. This is the first of JPX's rich and varied data services that will be disseminated via Snowflake as part of the two companies' priority partnership.
/jlne.ws/3XA53L5
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| Cybersecurity | | Top stories for cybersecurity | Deepfakes of Singapore PM Used to Sell Crypto, Residency Program
Olivia Poh - Bloomberg
Deepfakes of Singapore Prime Minister Lawrence Wong are circulating online and being used to sell cryptocurrency, money-making schemes and permanent residency application services, the country's leader said on Friday. In posts on social media platforms Facebook and X, Wong said he has seen some of the videos online. He urged people to stay vigilant and to not respond to such scams or share personal information. The posts included screenshots of Wong beneath a red sign declaring they were scams.
/jlne.ws/3FbxEQM
Social Security and OIG Partner for National Slam the Scam Day
Social Security Administration
The Social Security Administration (SSA) and its Office of the Inspector General (OIG) join forces once again to raise public awareness about Social Security imposter scams during the sixth annual "Slam the Scam" Day on March 6. Social Security related scams-where fraudsters mislead victims into sharing personal information, or making cash, wire transfer, or gift card payments to fix alleged Social Security number problems -are an ongoing government imposter fraud scheme.
/jlne.ws/4i3Jgni
Hackers are taking aim at board directors, warns Cisco security exec
Ben Weiss - Fortune
Well-known CEOs and executives aren't the only potential victims of hacks and threats from criminals. Board directors also have to be vigilant, according to Jason Lish, the global chief information security officer at Cisco.
/jlne.ws/3F3JzQn
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| Cryptocurrencies | | Top stories for cryptocurrencies | Coinbase exec says Trump's Strategic Bitcoin Reserve could remove about $18 billion of sell-side pressure
Timmy Shen - The Block
Coinbase executive Conor Grogan said U.S. President Donald Trump's latest executive order to establish a Strategic Bitcoin Reserve may relieve massive sell-side pressure. N"By my estimation, the [U.S. government] owns 198.109k BTC. This executive order removes ~$18B of sell-side pressure," said Grogan, Coinbase's Director of Product Strategy and B
/jlne.ws/3F98Jxa
'A pig in lipstick': Trump's strategic Bitcoin reserve criticised
Annabelle Liang & Liv McMahon - BBC
President Donald Trump's decision to establish official government cryptocurrency reserves in the US has drawn criticism from industry watchers. He has signed an executive order creating what he calls a Strategic Bitcoin Reserve as well as a Digital Asset Stockpile, which will consist of other forms of digital currency. The funds will be stocked with coins forfeited to the federal government as part of criminal or civil proceedings. White House AI and crypto tsar David Sacks likened them to a "a digital Fort Knox for the cryptocurrency", drawing comparison to the Kentucky military base that stores a significant portion of US gold assets.
/jlne.ws/3F4Zo9u
US Treasury chief says plan to be put in place on acquiring crypto
Reuters
Plans will be discussed about how to acquire cryptocurrency for a U.S. strategic reserve that will include bitcoin, Treasury Secretary Scott Bessent told CNBC on Friday before industry leaders meet with President Donald Trump at the White House.
/jlne.ws/43rnllp
Sanctioned Russian crypto exchange suspends services as Tether blocks wallets
Elena Fabrichnaya and Alexander Marrow - Reuters
Russian cryptocurrency exchange Garantex on Thursday said stablecoin Tether had blocked digital wallets on its platform holding more than 2.5 billion roubles ($28 million), forcing it to suspend operations days after coming under EU sanctions. The European Union included Garantex in its 16th sanctions package against Russia over the conflict in Ukraine on February 24, accusing the crypto exchange of being closely associated with EU-sanctioned Russian banks and responsible for circumventing EU sanctions.
/jlne.ws/3Dwwm23
Crypto Strategic Reserves may look larger in the rear-view mirror than they are; Altcoin hodlers, you've been Trumped
Bryce Elder - Financial Times
A week can feel like an eternity when the zone's being flooded with FOMO. Last Sunday, Donald Trump tweeted: A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!
/jlne.ws/4heyB7W
Deported woman may keep $850K stolen from ex's crypto wallet - private investigator calls it a long con
Danielle Antosz - Moneywise
/jlne.ws/3XutCJi
Top Pump.fun trader's profits near $40 million as Solana memecoin volumes shrink
RT Watson - The Block
/jlne.ws/4ita8Nl
Bitcoin derivatives market surges as traders position ahead of White House crypto summit
Brian McGleenon -The Block
/jlne.ws/3QLTZ9R
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| Politics | | An overview of politics as it relates to the financial markets | Inside the White House's new media strategy to promote Trump as 'KING'; The Trump administration has transformed its traditional press shop into a rapid-response influencer operation, and "they're all offense, all the time."
Drew Harwell and Sarah Ellison - The Washington Post
When actress Selena Gomez posted an Instagram video in January in which she cried about the Trump administration's deportations of children, the viral clip threatened to stoke nationwide unease over the policy's human impact. But the White House digital strategy team had a plan. They dispatched videographers to interview the mothers of children killed by undocumented immigrants. They put President Donald Trump's face on a Valentine's Day card reading: "Roses are red, violets are blue, come here illegally and we'll deport you."
/jlne.ws/4iuTdtF
The One Question That Really Matters: If Trump Defies the Courts, Then What?
Erwin Chemerinsky - The New York Times
It is not hyperbole to say that the future of American constitutional democracy now rests on a single question: Will President Trump and his administration defy court orders? Federal judges have issued more than a dozen temporary restraining orders and preliminary injunctions against Trump administration actions. But it is unclear whether the government will comply, and in at least two cases, judges have said their orders were ignored.
/jlne.ws/4ipDvA0
Trump Urges Iran to Negotiate on Nuclear Program
Hadriana Lowenkron - Bloomberg
President Donald Trump wrote a letter this week to Iranian leader Ali Khamenei urging the Islamic Republic to enter negotiations and strike a deal preventing the development of nuclear weapons. "I've written them a letter saying I hope you negotiate, because if we have to go in militarily, it's going to be a terrible thing for them," Trump told Fox Business's Maria Bartiromo in an interview that aired Friday.
/jlne.ws/3Xw0r8O
Iran-Contra Paved the Way for Trump to Defy Democratic Norms; A new book argues that Ronald Reagan's signature scandal foreshadowed today's sidelining of Congress by the executive branch.
Sam Lebovic - Bloomberg
Iran-Contra has never quite lived up to its potential as a political scandal. Watergate fires on all cylinders: a villainous president, a Constitutional Crisis™, a smoking gun, a resignation. You can make a pretty good movie about Watergate. But Iran-Contra? All of those hearings and court cases, all those thousands of pages of testimony and diaries and internal documents have never coalesced into a memorable political fable. Sure, some rogue spies and security state officials were so committed to fighting baddies that they sold a few weapons and supported a few freedom fighters in ways that may technically have violated some statutes. But what was the harm? It certainly did no lasting damage to Ronald Reagan's reputation. The only people who still care about Iran-Contra are history buffs and the civics-obsessed.
/jlne.ws/4ialcPE
The Free-Market Conservative Is a Vanishing Breed; Republicans are still more pro-market than Democrats, but conservativism itself is losing its enthusiasm.
Allison Schrager - Bloomberg
Once upon a time, the conservative position on economics was easy to describe: It was in favor of free markets. In terms of public policy, this meant support for lower taxes, less regulation, smaller government and fiscal prudence. Republicans did not always adhere to those principles, but at least they aspired to them. Call them free-marketish. But there has been a political and economic vibe shift, and now a large part of the conservative movement is turning against free markets. This shift may well be bigger and last longer than the presidency of Donald Trump. All of which raises an uncomfortable question for free-marketers like me: Is there still a market-friendly party in America?
/jlne.ws/4kwEosv
Donald Trump restrains Doge as concern mounts over scale of job losses; US cabinet told to 'keep all the people you want' in first sign of pushback against Elon Musk's cost-cutting project
Joe Miller - Financial Times
Donald Trump has moved to constrain Elon Musk's cost-cutting task force, ordering his cabinet to ensure the "most productive" civil servants are exempted from sweeping lay-offs that have wreaked havoc across the US. In a meeting at the White House on Thursday attended by secretaries of state and Musk, the president hinted the billionaire's so-called Department of Government Efficiency may have been too indiscriminate in its mass firings of federal employees.
/jlne.ws/3DnxN2Q
Republicans Warn Musk DOGE Cuts at Risk Without Congress
Billy House, Emily Birnbaum and Erik Wasson - Bloomberg
/jlne.ws/4i7Hf9z
Judge bars Trump administration from shutting down federal African development agency
Thalia Beaty and The Associated Press via Fortune
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Judge Blocks Trump Administration's Funding Freeze Indefinitely; Ruling finds that move to cut off appropriated funds to state governments 'fundamentally undermines' democracy
Jan Wolfe - The Wall Street Journal
/jlne.ws/4ktYzHs
The Gilded Age Is Back in America, Except This Time It's Golden; How the characters and the anxieties are similar. Plus: How First Trust drew billions in investments.
Max Abelson - Bloomberg
/jlne.ws/4hbyMRz
How Trump's '51st State' Canada Talk Came to Be Seen as Deadly Serious; President Trump, in an early February call, challenged the border treaty between the two countries and told Justin Trudeau he didn't like their shared water agreements.
Matina Stevis-Gridneff - The New York Times
/jlne.ws/3QP5YUc
France to consider protecting European allies with its nuclear arsenal, Macron says
Joseph Ataman and Jessie Yeung - CNN
/jlne.ws/4hcgXSn
Poland and Baltic nations welcome Macron's nuclear deterrent proposal
Sylvie Corbet - Associated Press
/jlne.ws/3DuM5yE
Trump's Embrace of Putin Has Germany Thinking of Nuclear Weapons; The travails of the Western alliance have injected urgency into a debate about homegrown alternatives to the U.S. nuclear umbrella
Bertrand Benoit - The Wall Street Journal
/jlne.ws/4iaEKn3
China Blasts Trump's 'Two-Faced Acts', Calls US Tariffs 'Evil'
Bloomberg News
/jlne.ws/43oBr79
China Says It Offers Stability as Trump Sows Chaos. The Reality Is Complicated; China's top foreign affairs official, Wang Yi, cast his country as a force for peace and order even as Beijing provokes its neighbors and fuels trade tensions.
David Pierson - The New York Times
/jlne.ws/3XyRpYC
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| Regulation & Enforcement | | Stories about regulation and the law. | Growing Wall Street Threat Spurs EU to Speed Up Banking Review
Laura Noonan - Bloomberg
The European Commission has vowed to speed up a planned review of the competitiveness of the bloc's banks after the region's three biggest economies demanded urgent action to ensure their lenders can properly compete with Wall Street rivals. The Commission will publish a report on the "overall situation" of the banking system that includes an evaluation of the sector's competitiveness by the end of 2026, according to a document seen by Bloomberg News.
/jlne.ws/4iuE9wf
Mozambique 'Tuna-Bond' Banker Sentenced to Time Served
Matt Wirz - The Wall Street Journal
Andrew Pearse, a former Credit Suisse banker involved in Mozambique's "tuna-bond" scandal, was sentenced Thursday to time served by a Brooklyn federal court. Pearse has spent more than six years in legal limbo while cooperating with U.S. authorities in two trials tied to $2 billion of fraudulent debt deals he helped arrange in exchange for bribes. U.S. District Judge Nicholas Garaufis said that Pearse used his financial skills for one of the largest corruption schemes in African history, and that sentencing guidelines for his crimes ranged between 121 and 154 months of incarceration. But Garaufis decided against prison time because Pearse had "turned his life around," and had cooperated extensively with authorities in the U.S. and the U.K. Pearse testified and provided documents assisting the Justice Department's case against Mozambique's former finance minister, Manuel Chang, who Garaufis sentenced in January to eight-and-a-half years in prison.
/jlne.ws/4hfwDUU
This Lawsuit Against Basically Every Official of the Administration-but Especially Elon Musk-Is Exactly Right; "Mr. Musk and DOGE's lawless actions threaten the bedrock of our democracy, and they are already causing severe harms in a wide array of areas of daily life."
Charles P. Pierce - Esquire
One of the thousand lawsuits a'blooming as we come into spring is this massive one filed against practically every official of the administration, but especially against Elon Musk and the leaders of the DOGE and Pony Show. The plaintiffs are an impressively varied array of organizations: the Japanese American Citizens League, the OCA-Asian Pacific American Advocates, the Sierra Club, and the Union of Concerned Scientists ... The actual casus belli is the promiscuous bloodbath that the DOGE and Pony Show has unleashed among the administrative agencies-the firing of the forest rangers; the elimination of National Park personnel at, among other sites, the national monuments dedicated to the memory of Japanese Americans held in concentration camps during World War II; and, of course, the complete incompetence demonstrated in connection with nuclear safety.
/jlne.ws/3DkxLca
Filer Transition to New and Improved EDGAR Begins March 24; Comprehensive "EDGAR Next" Guidance Available for EDGAR Filers
SEC
The Securities and Exchange Commission is providing extensive guidance and resources to assist filers with upcoming access and account management enhancements to the security of the agency's Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. On March 24, a new EDGAR Filer Management dashboard will go live on the SEC's website, and filers can begin enrolling in "EDGAR Next" by submitting an amended Form ID, which is the application that individuals or companies complete to obtain EDGAR access credentials.
/jlne.ws/4ivqQM1
Remarks at the Meeting of the Investor Advisory Committee
Mark T. Uyeda, Acting Chairman - SEC
Good afternoon and welcome to the first Investor Advisory Committee meeting of 2025. I wish I could be there with you, but I am pleased to be joining you virtually. I look forward to meeting all of you in person in the future. I expect that this year will be a busy and exciting one for the Commission, and the contributions of this Committee will be part of that activity. Earlier this year, the Commission made a call for candidates to fill vacancies on the Committee. The deadline for candidates to apply is March 15, and the Commission has already received a large number of submissions. The substantial interest in joining the Committee demonstrates the importance of the work that all of you are doing, and I thank you for your commitment to public service.
/jlne.ws/3QOOffD
Should We Pick Up the Slack?: Remarks before the Investor Advisory Committee
Commissioner Hester M. Peirce - SEC
Today's first panel is set to discuss how public companies disclose the risks and opportunities associated with artificial intelligence. I hope that one theme in the conversation will be the value of principles-based disclosure and the value of affording companies the discretion to make disclosures based on what is material to their particular circumstances. Principles-based disclosure rules do not prescribe corporate disclosure, but instead provide the framework within which companies make material disclosures to investors. Attempts to fill disclosure rulebooks with requirements specific to climate, artificial intelligence, or any other hot topic disserve investors in several ways. First, companies that do not have material things to say about these topics can be forced to spend company resources saying them. Second, even mere disclosure requirements can end up being an indirect way for a securities regulator to micromanage substantive company operations. Third, these disclosure requirements can distract corporate boards and managers from doing more important things. Fourth, corporate disclosures filled with answers to prescriptive disclosure frameworks drown out material information. Clear and comprehensive disclosure should be our goal, not homogenization for its own sake. I anticipate that the panel of experts Alvin has gathered will provide us with much to think about.
/jlne.ws/3XwelI2
SEC Obtains Final Judgment Against Pennsylvania Man for His Fraudulent "Free-Riding" Scheme
SEC
On March 6, 2025, the Securities and Exchange Commission obtained a final judgment against Rey D. Acosta of Shenandoah, Pennsylvania, who was charged with conducting a fraudulent "free-riding" scheme in which he attempted to profit by purchasing and selling stocks without having sufficient funds to pay for the trading.
/jlne.ws/3XBunQX
Antonio Stella indicted on insider trading charges
ASIC
Antonio Stella, of Donvale, Victoria, has been indicted on two counts of insider trading following an ASIC investigation. ASIC alleges that Mr Stella sold shares in Cann Group Limited on 19 and 20 July 2021 while in possession of inside information regarding an upcoming share placement.
/jlne.ws/3Doa4zx
ASIC bans former financial adviser Harris John Kohu Shortland for a period of seven years
ASIC
ASIC has made an order banning Northern Territory based financial adviser Harris Shortland following his conviction of supplying dangerous drugs, namely cocaine and receiving or possessing the proceeds of their sale. Under the Corporations Act, ASIC may ban a person from providing financial services if ASIC has reason to believe that the person is not fit and proper person to provide one or more financial services.
/jlne.ws/41LxWGE
FCA sets out steps to support home ownership
FCA
The FCA has set out steps it will take to improve access to mortgages. The FCA is reminding lenders of flexibility in its rules, which can help more people access a mortgage. This forms part of the work, announced in January in a letter to the Prime Minister, to review regulation to support home ownership and the UK economy. When lenders decide whether to approve a mortgage, they test whether a borrower could still afford their mortgage at higher interest rates. As interest rates fall, the current market approach to interest rate stress testing may be unduly restricting access to otherwise affordable mortgages.
/jlne.ws/4byPJ7b
The FCA invites applications for a bond consolidated tape provider
FCA
A UK bond consolidated tape (CT) will collate data on transactions, such as prices and volumes, and brings together information on trades executed on trading venues and over-the-counter with a broker.
/jlne.ws/4i3JJWC
Vulnerable customers encouraged to open up to firms to get the right support
FCA
Just 4 in 10 vulnerable customers say they have disclosed their needs to their financial services provider, new research commissioned by the FCA shows. However, those that do open up tend to have better experiences. Three quarters of vulnerable customers who told their firm about their circumstances (74%) said that staff asked the right questions to understand their situation, 6 in 10 (57%) said their firm 'cared', and 58% said their firm took action to provide support they needed.
/jlne.ws/3F77Yoa
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| Investing & Trading | | Today's top stories from equities, indices and FICC (fixed income, currencies and commodities) | Global coffee trade grinding to a halt, hit hard by brutal price hikes
Marcelo Teixeira - Reuters
Global coffee traders and roasters say they have slashed their purchases to minimal levels, as the industry reels from a steep surge in prices that suppliers have yet to convince retail stores to accept. At the U.S. National Coffee Association annual convention in Houston this week, attendees said they have been in shock at a 70% increase since November for Arabica coffee futures on the ICE exchange, the benchmark for coffee deals around the world.
/jlne.ws/3XtSGjK
Harnessing the Financial Power of Women; Trish Costello is the founder and C.E.O. of Portfolia, a women-focused investment platform that is fueling health care innovations aimed at improving women's lives.
Eilene Zimmerman - The New York Times
Last year, $178 billion in venture capital was invested in U.S. companies, but only 19 percent of those investment decisions were made by women, according to the capital markets database Pitchbook. Just two percent of that funding went to companies founded by women. This imbalance - which has persisted for decades - is what motivated Trish Costello to start Portfolia in 2014, a venture capital investment platform geared toward women and one of the first venture firms in the U.S. to focus on women's health. That year, only six percent of decision makers at venture capital firms were women.
/jlne.ws/41KhPsS
The hidden dangers of family offices; Private wealth management companies for the super-rich now manage trillions of dollars globally. Critics say they are open to abuse
Josh Spero and Owen Walker - Financial Times
Early on the morning of August 15 2023, more than 400 Singaporean police officers raided scores of luxury properties in the city-state's most exclusive neighbourhoods. The operation followed a tip-off that several foreign nationals had been laundering huge amounts of money. Police seized 94 properties and 50 vehicles, along with cash, luxury handbags, jewellery, two gold bars and cryptocurrencies with a total value of S$3bn ($2.2bn).
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Market must view T+1 as merely a stop on the road to real time settlement; "Do you want to evolve or do you want to go extinct," asked one expert panellist addressing the UK and EU shift to T+1 at the FIX EMEA Trading conference.
Claudia Preece - The Trade
A gathered panel of T+1 experts at the FIX EMEA Trading conference were in agreement about the inevitability of an eventual further shift in settlement times and, appeared cautiously optimistic that firms are for the most part sufficiently aware of the need to innovate. However, with the need to innovate across the board more pertinent than ever before, experts advised firms to move not just with the times, but ahead of the times.
/jlne.ws/3Do4FIL
Are Stocks a Sure Thing Over the Long Term? Not Necessarily; While it doesn't occur frequently, U.S. stocks, as well as international markets, have produced losses over 10- and 20-year periods, research shows
Meir Statman - The Wall Street Journal
There is a common belief that while U.S. stocks can inflict painful losses in the short term, they are sure to deliver gains if you hold them for 10 years. And if not in 10 years, definitely in 20 years. Unfortunately, this perception is a misperception. This isn't to say that stocks are bad investments. But investors need to understand that while buying and holding stocks for long periods usually pays off, it isn't guaranteed. Stocks can be risky investments, even if they are held for decades.
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Gold Futures Rise; ETFs Report Third Consecutive Month of Inflows
The Wall Street Journal
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| Environmental, Social and Corporate Governance | | Stories about environmental, social and governance investing | Target is being boycotted for 40 days for Lent over its decision to drop DEI initiatives
Wyatte Grantham-Philips and The Associated Press via Fortune
A 40-day boycott of Target that calls for supporters to give up shopping at the company's stores during the Lenten period kicked off this week, to protest the discount retailer's decision to end some of its diversity, equity and inclusion initiatives.
/jlne.ws/3F5A6s2
US energy chief to seek $20 billion to refill oil reserve, Bloomberg News reports
Reuters
US Energy Secretary Chris Wright plans to seek up to $20 billion to accomplish President Donald Trump's goal of refilling the nation's depleted oil reserve to its maximum capacity, Bloomberg News reported on Friday.
/jlne.ws/3DojtY4
China's Energy Imports Drop on Supply Overhang and Weaker Demand
Bloomberg
Chinese energy imports broadly fell at the start of 2025, after last year's record shipments of coal and gas created an overhang of supply and demand for oil continued to ease. Crude oil imports fell 5% on-year in January and February to 83.85 million tons as buyers had to scout for alternative supplies after the US tightened sanctions on Russian and Iranian cargoes. Chinese demand is in particular focus this year after imports declined in 2024 for the third time this decade, underscoring how consumption is being undermined by the country's energy transition and shifts in its economy.
/jlne.ws/3Fa4ktL
EU Leaders Call for Ukraine Gas Solution on Slovakia's Push
Daniel Hornak - Bloomberg
European Union leaders called for stepping up efforts to resolve the Ukraine gas transit issue, a win for Slovak Prime Minister Robert Fico, who had threatened to veto the conclusions of the bloc's emergency summit if the matter wasn't addressed. Fico, who is seeking a resumption of gas flows via Ukraine, halted at the beginning of the year, called it "a great success," on Friday as he spoke with journalists in Bratislava.
/jlne.ws/41wjxg9
The secret to a strong economy is women; I've seen first-hand that when you tap the talents of the whole population you draw from the very best available
Sheryl Sandberg - Financial Times
This is a critical moment for America and its economy. There are vehement disagreements on nearly every issue you can think of. But there's one thing on which we all agree: we want a strong economy. This is the cornerstone of US national security, global standing, and the wellbeing of our families.
/jlne.ws/43r2yhS
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| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | Hidden Road Launches Fixed Income Prime Brokerage Platform
Hidden Road Partners
Hidden Road, the global credit network for institutions, today announced the launch of its Fixed Income prime brokerage platform. The business will initially support Fixed Income Repo & Global Funding services following the firm's recent approval as a Fixed Income Clearing Corporation (FICC) clearing member. This represents the latest expansion of Hidden Road's product suite, which currently offers clients seamless, conflict-free access to clearing, prime brokerage and financing across a diverse range of asset classes.
/jlne.ws/3DyWs4x
HSBC Promotes David Sabow to Lead Venture-Banking Efforts
Yizhu Wang -Bloomberg
HSBC Holdings Plc promoted David Sabow to lead the global expansion of its venture-banking business, after he led that team in the US and more than doubled headcount there in the past two years.
/jlne.ws/4hdao1V
Hedge Fund Triata Gains 39% as DeepSeek Boosts Fund Returns
Bei Hu and Lulu Yilun Chen - Bloomberg
A rally in Chinese stocks tied to excitement over DeepSeek and Unitree Robotics lifted returns of several hedge and long-only funds last month. DeepSeek's unveiling of a lower-cost, open-source artificial intelligence model and Unitree's showcase of its robotics technology captured investors' imagination. The MSCI China Index surged almost 12% in February and has extended gains this month, led by stocks expected to benefit from the wider adoption of the technologies. "Chinese equities may see a re-rating this year," said Zheng Fang, founder of Hong Kong-based Keywise Capital Management Ltd. "DeepSeek and Unitree have prompted a re-evaluation of China's technology development." Returns and strategies of Keywise and four other firms that benefited from the rebound are listed below.
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Chaotic Market Burns Array of Hedge Fund Strategies in February
Nishant Kumar, Bei Hu, Siddharth Philip and Hema Parmar - Bloomberg
Millennium Management, Citadel and other top hedge funds posted lackluster returns in February, as market gyrations reversed momentum on key trades and clobbered popular stocks. Multistrategy firms with an equity market-neutral bias took some of the biggest hits. Those losses were driven by overcrowding in a small group of stocks, particularly health care and technology.
/jlne.ws/4iajVYS
Secretive Hedge Fund QRT Adds Another $5 Billion to Its Assets
Nishant Kumar - Bloomberg
Qube Research & Technologies, a secretive hedge fund that has grown into an industry giant, has added billions of dollars more to its assets so far this year. London-based QRT now manages about $28 billion, according to people with knowledge of the matter. That's $5 billion more than it had at the end of last year. The growth has come from a combination of billions of dollars in new cash as well as investment gains, the people said, asking not to be identified because details are private.
/jlne.ws/4bw7Ri5
Hedge fund manager Boaz Weinstein: 'I love punching a bully in the nose'; The Saba Capital founder on his campaign to shake up the UK investment sector - and why Elon Musk is right to disrupt US bureaucracy
Brooke Masters - Financial Times
/jlne.ws/41N1rba
European (fund flow) Exceptionalism; Say the word Alphaville...
Robin Wigglesworth - Financial Times
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| Work & Management | | Stories impacting work and more about management ideas, practices and trends. | How many jobs will AI eliminate? Nobody really knows, and here's why
Francois Candelon, David Zuluaga Martinez and Etienne Cavin - Fortune
The age of artificial intelligence has been full of predictions of mass technology-driven unemployment. A 2013 report by the Oxford Future of Humanity Institute posited that nearly half of U.S. employment at the time was "potentially automatable" over the next "decade or two." A decade later, however, there were 17 million more jobs in the U.S.
/jlne.ws/4iwUEI3
As JPMorgan Chase enforces a 5-day RTO, staffers complain about too few desks, spotty Wi-Fi, and sneezing, sick coworkers
Luisa Beltran - Fortune
It's the first week of JPMorgan Chase's return-to-office mandate that obliges thousands of people to come back in five days a week, and so far the adjustment has been less than smooth. Tensions are high among the bank's employees, who are grousing about noisy workplaces, sporadic Wi-Fi, and sick coworkers who cough and sneeze.
/jlne.ws/43s6Khn
Companies are failing to convince staff of AI benefits; Chatbots are part of working life but many employees say the opportunities are still unclear
Janina Conboye - Financial Times
The promise of generative AI tools is tantalising: a resource to free up time for more high-value work, streamline repetitive tasks and teach new skills. But survey data shows workers are not yet fully embracing the potential - and that employers are not doing enough to help them.
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| Wellness Exchange | | An Exchange of Health and Wellness Information | Kennedy touts unconventional therapies for measles linked to disciplined Texas doctor
Brenda Goodman and Neha Mukherjee - CNN
A team from the US Centers for Disease Control and Prevention arrived in Texas this week to aid in the response to a growing measles outbreak, and US Health and Human Services Secretary Robert F. Kennedy Jr. pledged that they would talk to "front-line doctors and see what is working on the ground" and learn about therapeutics "ignored" by the agency.
/jlne.ws/3Dy2sKR
6 Sources of Protein That Aren't Meat; There are clear health risks associated with eating red and processed meat. Here are six alternatives.
Sophie Egan - The New York Times
Scientists have long known about the downsides of red and processed meats. Eating them has been linked with increased risks of health issues like heart disease, some types of cancer and earlier death. And research suggests that replacing those protein sources with nonmeat alternatives like legumes, nuts, whole grains and more can improve your health in the long run. Such swaps can also be better for the environment - and your wallet.
/jlne.ws/3DmO6No
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| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | Finance Tycoon Overtakes Samsung's Lee as Richest South Korean; Cho built Meritz into Korea's leading financial services firm; Investors attribute Cho's success to hiring top talent
Shinhye Kang, Youkyung Lee, and Yoojung Lee - Bloomberg
Finance tycoon Cho Jung-ho has ascended to the top of South Korea's rich list, ending Samsung Electronics Co. Executive Chairman Jay Y. Lee's two-and-a-half-year reign. Meritz Financial Group Chairman Cho's net worth reached $8.9 billion at the end of Thursday's trading, according to the Bloomberg Billionaires Index, while Samsung's Lee dropped to the second spot with a net worth of $8.7 billion.
/jlne.ws/43se4JY
Japanese Bonds Set to Lose Mantle of Lowest Yielding Major Market to China
Hidenori Yamanaka - Bloomberg
Japanese investors expect the nation's benchmark 10-year government bond yield to climb as high as 2% this year in a move that looks likely to relegate China's sovereign debt to the lowest yielding of major markets. That would be a startling turnaround for Japan's once moribund market - which for years was synonymous with negative rates - and another sign of the challenge China faces with low inflation.
/jlne.ws/3XBfXQP
Trading Floors Laud New European Era as Germany Set to Spend
Aline Oyamada and Michael Msika
After a week of historic shifts in European markets, investors are declaring it may be just the beginning. Germany's commitment to spend after a decades-long obsession with austerity spurred dramatic moves in pretty much every asset across the continent. The euro is on track for its best weekly run since 2009 and the DAX set an all-time high. Meanwhile, bond markets have plunged, with German 10-year notes set to close out the worst week since 1998. Strategists have raced to boost their forecasts for economic growth, corporate profits, federal borrowing and interest rates, while casting aside the bearish view of just weeks ago that the euro would sink to parity against the dollar.
/jlne.ws/4ipmV3e
Germany's Richest Man to Pocket $9 Billion After Well-Timed Bets
Tara Patel - Bloomberg
Klaus-Michael Kuhne, Germany's richest person, stands to reap at least $9.3 billion in dividends after a period of profitable growth at his expanding transport empire. The windfall stems from the 87-year-old tycoon's 53% stake in Kuehne + Nagel International AG, the world's largest air and sea freight-forwarding business co-founded by his grandfather, a 15% holding in Deutsche Lufthansa AG and 30% stake in Hapag-Lloyd AG. He's the biggest investor in the German airline, having built his stake after a government bailout in 2022. And he boosted his interest in the container line in 2020, just before a boom that led to record profits.
/jlne.ws/4hgdkL8
Mark Carney, crisis-fighting central banker, hopes to lead Canada through trade war
David Ljunggren - Reuters
Mark Carney, the front-runner to become Canada's new prime minister, is a two-time central banker and crisis fighter who may soon face his biggest challenge of all: steering Canada through Donald Trump's tariffs.The Liberals will announce Justin Trudeau's successor on Sunday after party members vote in a nominating contest. Trudeau resigned in January, facing low approval ratings after nearly a decade in office.
/jlne.ws/4iuXjSy
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| Miscellaneous | | Stories that don't quite fit under the other sections | Sam Bankman-Fried's crisis manager quits following FTX founder's unexpected prison interview with Tucker Carlson: report
Daniel Kuhn - The Block
Sam Bankman-Fried's crisis manager has reportedly quit following the FTX founder's prison interview with Tucker Carlson published unannounced on Thursday, according to Business Insider. Mark Botnick, who started representing Bankman-Fried following the collapse of his cryptocurrency exchange FTX in November 2022, resigned on Thursday after learning of the interview. Botnick has confirmed with The Block that he has quit representing Bankman-Fried.
/jlne.ws/4kmQjZQ
'I don't think I was a criminal,' says convicted felon Sam Bankman-Fried from prison
Daniel Kuhn - The Block
Sam Bankman-Fried appears to have a tough time staying away from the press. In his second interview from prison - first in front of a camera - the FTX founder repeated many of the talking points from his first "media blitz" immediately following the collapse of the ill-fated crypto exchange - including the idea that one of crypto's largest fraud cases isn't so.
/jlne.ws/3Dhrmyr
Ex-Barclays Lawyer Says Epstein Emails 'At Odds' With FCA Letter
Harry Wilson and Jonathan Browning - Bloomberg
Barclays Plc's former top lawyer said emails that Jes Staley and Jeffrey Epstein exchanged over more than a decade were "at odds" with a letter he helped draft for the bank that denied its former chief executive had a close relationship with the late pedophile financier. Bob Hoyt, once group general counsel at Barclays, said he had not been aware of the pair's correspondence when the letter was being drawn up. Had he known of the emails, he'd have wanted to discuss them with Staley, he said in a statement to a London court on Thursday.
/jlne.ws/4hhkQW5
Wikipedia Roiled With Internal Strife Over Page Edits About the Middle East; Shadow edit campaigns and political disputes have created headaches for overwhelmed editors and administrators.
Margi Murphy - Bloomberg
Ongoing war and other conflicts in the Middle East have spilled onto the pages of the online encyclopedia Wikipedia, where volunteer editors who maintain the website are sparring over how to frame recent events. At least 14 editors have been barred from working on pages related to the topic, Jewish organizations are claiming bias, and the conflict has reached the top levels of Wikipedia as the site's two founders, Jimmy Wales and Larry Sanger, are at odds over whether to unmask the anonymous editors involved in the turmoil.
/jlne.ws/4hbl6pH
Barclays Board Gave Jes Staley Support Despite Seeing Trove of Epstein Emails
Jonathan Browning and Harry Wilson - Bloomberg
Barclays Plc's board gave Jes Staley its full support despite bank officials seeing more than 1,000 emails that shed new light on their embattled chief executive's relationship with disgraced financier Jeffrey Epstein. Barclays said in a Feb. 2020 statement that Staley retained the "full confidence" of the board, adding that its CEO had been "sufficiently" transparent with the lender about his relationship with Epstein. The support came after Barclays' then top lawyer said that the UK authorities had already shown his team the entire cache of emails in December 2019.
/jlne.ws/4i9Wpv1
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