| September 18, 2023 | "Irreverent, but never irrelevant" | | |  | John Lothian
Publisher
John Lothian News | |
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Hits & Takes
John Lothian & JLN Staff
I am headed to Bermuda tomorrow morning and the newsletter will be in the hands of the capable JLN team to produce and publish. I will contribute what I can tonight. Cheryl and I are flying to Bermuda by way of Charlotte to The World Federation of Exchanges General Annual Meeting. It is also our wedding anniversary later this week, so there is some R&R also baked into the trip. The timing was good, as Hurricane Lee passed by the island last week, and the weather looks good until later in the week when some rain might interfere with our activities.
The Financial Times this morning published a Special Report, "The Future of Banking," with the explainer paragraph, "Just as banks are seeking more deals with fintechs, those partnerships are coming under greater scrutiny from regulators who worry that such tie-ups could open the banks and the US banking system to bad actors."
The stories include:
Rival banks unite to take on Big Tech; Traditional lenders react to mobile wallet gains made by Apple and Google as tech groups push harder into financial services
/jlne.ws/3PKCvv7
Bank chiefs relish prospect of AI boost to productivity; Lenders expect big gains in efficiency as they expand use of the technology
/jlne.ws/3PnXQsJ
Higher interest rates signal end of one-stop shop banks; Big lenders are starting to retreat, and in some cases exit, from consumer banking, as income becomes squeezed
/jlne.ws/3ELJoG9
Making the banking industry more inclusive for all; Organisations thrive in a culture where everyone feels welcome and respected, regardless of their background
/jlne.ws/3RpHwu0
India points the way to digital access across Africa
Bill Gates is among the supporters who say DPI is key to reducing poverty but critics warn civil liberties could be at risk
/jlne.ws/3ZCanO9
Investors urge greater scrutiny of climate funding tools; New financing instruments spur concerns over validity of some 'green' investments
/jlne.ws/3t4aaXr
Brazil counts success with Pix payments tool; State-backed instant transfer service is credited with helping to widen financial inclusion
/jlne.ws/454JxPO
Crypto tumult spurs rethink on best uses for blockchain; Tokenisation to create new markets, and decentralised ledgers to boost security, offer opportunities for growth
/jlne.ws/48lTAT4
The FIA is counting down to FIA Expo 2023 and is introducing each of the 10 fintech firms selected to participate in this year's Innovators Pavilion on LinkedIn. First up is Automated Data Inc, a platform for reference data matching.
Meaghan Dugan was featured on the cover of Trader's Magazine on her one year anniversary running options for NYSE
There is a TEDxWrigleyville video titled "What's the Future of College in the Age of AI?" featuring Eve Geroulis that discusses what she has long referred to as Generation WTF: Generation What's The Future, and their future in this new age of AI.
Charles Gasparino, who knows a thing or two about banana republics, penned a commentary in the New York Post titled "Gary Gensler is making the SEC into a banana republic."
Maybe that World of Beer at the Brussels stock exchange was not such a good idea. OK, I am not sure this is related, but an Irish tourist was filmed climbing a recently-renovated statue outside the Brussels stock exchange, causing part of it to break off, the BBC reported. The man was arrested and the building's management is calling for him to pay for repairs. Last week we reported that the Brussels stock exchange had been renovated into a new visitor center promoting 430 Belgium beers.
A change is occurring that will impact nearly everyone, except for Sarah Rudolph. Starbucks is overhauling its iconic coffee cup. Sarah is not a fan of Starbucks, she is a Dunkin' regular. The question on the change in the cup is whether customers will go along, The Chicago Tribune reports.
Mark Cuban, the billionaire technology investor and owner of the Dallas Mavericks, showed phishing losses can happen to anyone when he incurred a loss of approximately $870,000 in tokens over the weekend. This unfortunate incident occurred following what appears to be his inadvertent clicking on a phishing link, a misstep that followed several months of inactivity on his part, CoinDesk reported.
Dan Smalley has been promoted to the position of global head of business development - derivatives at Broadridge
We are getting close to the end of the baseball season in North America and the Chicago Cubs are starting to fade, after getting themselves into contention. In another part of the world, in cricket, India beat Sri Lanka in the Asia Cup final in a ten-wicket win at R. Premadasa Stadium on Sunday, the Associated Press reported.
Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality and justice.~JJL
*****
The guidance note on the Green Equity Principles developed by the World Federation of Exchanges (WFE) is open for public consultation until January 15, 2024. Submit feedback to consultations@world-exchanges.org. The Green Equity Principles define 'green' criteria for equities including initial public offerings. When the principles are met the listed equities can obtain the 'WFE Green Equity Classification.' The global framework is voluntary for individual exchanges to use. View the WFE Green Equity Principles here. The WFE consultation sets out a series of questions for all stakeholders in equity markets to consider related to the principles. Access that document here. John Lothian News discussed the Green Equity Principles with WFE CEO Nandini Sukumar in a podcast earlier this year, which you can listen to here. ~SAED
Our most read stories last Friday on JLN Options were:
- PFOF and its discontents
- A $4 Trillion 'Triple Witching' Event Endangers Stock Market Calm
- Options and Earnings: Callie Cox ~JB
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John Shay Shoulders AFX Role With Optimism and Purpose
JohnLothianNews.com
John Shay, the CEO of the American Financial Exchange, took on the role after 7RIDGE bought the exchange from AFX Founder and former CEO Dr. Richard Sandor and the other AFX investors. He was interviewed over Zoom by John Lothian News about AFX and his views on the role of Ameribor.
Watch the video »
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Why the Twinkie Is Now Worth Billions; The strategy changes and shifts in snacking habits that brought Hostess from bankruptcy (twice) to a $4.6 billion deal
Jesse Newman and Ben Cohen - The Wall Street Journal
Ten years ago, the unthinkable happened: Twinkies disappeared. Hostess Brands, maker of the golden, cream-filled sponge cake, declared bankruptcy for the second time in a decade. The company closed its factories and began liquidation proceedings, sparking a run on supermarkets as shoppers filled their carts with Twinkies, Ho Hos and other edible specimens of Americana they thought they might never be able to buy again.
/jlne.ws/44R0blK
***** The thought of never having a ding dong was just too much for some people.~JJL
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Friday's Top Three
Our most clicked item on Friday was our MarketsWiki page for Carsten Kengeter of 7RIDGE. Second was PFOF and its discontents, from the Financial Times. Third was Billionaire Ken Griffin freaking out ahead of 'Dumb Money' movie, from the New York Post.
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| Lead Stories | Trillion-Dollar Industry Powering Chicago Is at Risk of Leaving; Slew of taxes threatens future of Chicago as a finance hub; Trading firms, exchanges want new mayor to curb surging crime
Isis Almeida - Bloomberg
The letters are stamped all over the hallways of Chicago's giant skyscrapers and grand office buildings. DRW, IMC, CME, Cboe. These are some of the derivatives firms that collectively handle trillions of dollars a year in trades, greasing the wheels of global markets with everything from stock options to corn futures. Most of them have called Chicago home for decades - providing thousands of jobs within the city's $75 billion finance industry.
/jlne.ws/3rb61AL
Hedge fund bets could spark turmoil in US Treasuries, BIS warns; Short positions in 2-year Treasury futures reached record highs in August
Kate Duguid - Financial Times
A build-up of leveraged bets has the potential to "dislocate" trading in the $25tn US Treasuries market, the umbrella group for central banks said, the latest high-profile warning over the potential for crowded hedge fund bets to sow instability. The Bank for International Settlements issued a warning in its quarterly report released on Monday about the growth of the so-called basis trade - whereby hedge funds seek to exploit the tiny differences between the prices of Treasury bonds and their equivalents in the futures market.
/jlne.ws/46hOIg0
DTCC, Clearstream and Euroclear Call for More Industry Collaboration to Advance Digital Asset Ecosystem; FMIs issue industry paper on challenges and opportunities addressing constraints of scale and interoperability
Clearstream
Today, three of the world's largest financial market infrastructures (FMIs) - DTCC, Clearstream, and Euroclear - released a paper on the state of the industry's digital asset evolution. The paper calls for increased collaboration to progress an ecosystem that currently includes fragmented standards, varying regulatory treatment, limited integrations with institutional-grade payment rails and siloed liquidity - all limiting factors to the further digitalization of global financial markets.
/jlne.ws/3Pox9nB
Billions of dollars in western profits trapped in Russia; Businesses from 'unfriendly' countries have amassed more than $18bn in earnings since the start of the invasion of Ukraine
Anastasia Stognei - Financial Times
Western companies that have continued to operate in Russia since Moscow's full-scale invasion of Ukraine have generated billions of dollars in profits, but the Kremlin has blocked them from accessing the cash in an effort to turn the screw on "unfriendly" nations.
/jlne.ws/3sY47no
Crypto tumult spurs rethink on best uses for blockchain; Tokenisation to create new markets, and decentralised ledgers to boost security, offer opportunities for growth
Scott Chipolina - Financial Times
The recent tumult in crypto markets, and ensuing regulatory crackdowns on the sector's major players, have dented the appeal of their underlying blockchain technology to traditional finance operators. The collapse of FTX in November 2022 capped off a year of crisis in crypto markets in which price falls and scandals left a permanent black mark on the sector. And this year has been defined by flashpoints between regulators and the blockchain industry. In June, the Securities and Exchange Commission followed the lead of the Commodity Futures Trading Commission in levelling charges against Binance, the world's largest crypto exchange, for alleged trading violations. Publicly listed rival Coinbase is also facing similar charges from the SEC.
/jlne.ws/48lTAT4
SEC's Gensler May Face an Unbeatable Foe in Crypto
Leah McGrath Goodman - The Motley Fool
Gary Gensler, chairman of the U.S. Securities and Exchange Commission, gave a stinging indictment of crypto in congressional testimony this week, proclaiming, "I've been around in finance for 44 years now, I guess, and I've never seen a field that's so rife with misconduct - it's just daunting."
/jlne.ws/3ZnVQ8h
Fed losses breach $100 billion as interest costs rise
Michael S. Derby - Reuters
Federal Reserve losses breached the $100 billion mark, central bank data released on Thursday showed, and they're likely to go a lot higher before the red ink stops. The U.S. central bank is continuing to pay out more in interest costs than it takes in from the interest it earns on bonds it owns and from the services it provides to the financial sector.
/jlne.ws/3RvKzRL
The World Is Struggling to Make Enough Diesel; Crude production cuts have been detrimental to diesel supply; Refineries have sought to satisfy demand surge for other fuels
Jack Wittels, Rachel Graham, Chunzi Xu, and Alex Longley - Bloomberg
The world's oil refiners are proving powerless to make enough diesel, opening a new inflationary front and depriving economies of a fuel that powers industry and transport alike. While oil futures are rocketing - on Friday they were just below $95 a barrel in London - the rally pales in comparison with the surge in diesel. US prices jumped above $140 to the highest ever for this time of year on Thursday. Europe's equivalent soared 60% since summer.
/jlne.ws/3Ro3rlq
Water Quality Expected To Decline As Extreme Weather Becomes More Common, New Study Says
Mary Whitfill Roeloffs - Forbes
The increasing frequency of droughts, heatwaves, storms and floods is threatening the availability of water and its quality across the world, a study released Tuesday said, heightening scientist's existing concerns that climate change poses a severe threat to human health. Research from Utrecht University in the Netherlands analyzed 965 cases of river water quality during extreme weather events worldwide, and found that the events impact the concentration of nutrients, metals, microorganisms and plastics in the water, as well as the temperature, dissolved oxygen level and salinity-the amount of dissolved salt.
/jlne.ws/3sVro9A
China lifts temporary curbs on gold imports as renminbi recovers; Spread between Shanghai spot price and London hit record $121 per troy ounce last week
Cheng Leng and Harry Dempsey - Financial Times
China's central bank has lifted temporary curbs on gold imports that were imposed on some lenders in a bid to defend the renminbi but caused the price of the precious metal to rise in the country. The spread between the Shanghai gold price and London hit a record $121 per troy ounce last Thursday, according to calculations based on public traded prices.
/jlne.ws/3LtUgfA
Under the spotlight: The implications of the FCA's proposed new oversight strategy for principal trading firms; The Financial Conduct Authority (FCA) has given firms until the end of the month to consider its recommendations; firms are not required to report their actions back to the regulator.
Claudia Preece - The Trade
The FCA's 'supervisory strategy for Principal Trading Firms (PTF)' letter - circulated to chief executives last month - highlighted five key areas of focus for the regulator for the next two years. The TRADE takes a look at what the FCA's planned strategy means for the market empirically. The recent communication follows the previous Wholesale Broker Letter (WBL) and addresses the key risks which could arise in relation to PTF's, what drives them, and the FCA's expectations for these firms in mitigating these risks.
/jlne.ws/3PJ6CDa
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| Ukraine Invasion | | News about the invasion of Ukraine by Russia and its military, economic, political and humanitarian impact | Russia's incompetent air force is one mistake away from sparking war with Nato
Hamish de Bretton-Gordon - The Telegraph
As Putin's invasion grinds on, the risk of escalation has drifted away from headlines. People seem to view the war as the "new normal". They shouldn't. This is still an incredibly dangerous situation, ripe with potential for tragedy. This was brought home sharply yesterday, when we learned that almost exactly a year ago we came within a single technological failure of war between Nato and Russia.
/jlne.ws/3PIqeqS
Canada to Give $24.4 Million to Ukraine for Air Defense
Layan Odeh - Bloomberg
Canada will contribute C$33 million ($24.4 million) to a UK-led partnership that will deliver air defense missiles to help Ukraine defend itself against Russia's missile and drone attacks. The partnership, which was established in June and includes Denmark and the US, is "providing Ukraine with hundreds of short- and medium-range air defense missiles and associated systems required to protect Ukraine's critical national infrastructure," Canada's Defense Minister Bill Blair said in a statement on Sunday.
/jlne.ws/48mTStd
Russia is making a 'very costly' tactical mistake that means its second line of defense will be easier to penetrate, analysts say
Alia Shoaib - Business Insider
Russia has made a tactical mistake in expending too much manpower and weaponry on its first line of defense and leaving its deeper lines weaker, analysts told The Kyiv Independent. While Russia has built complex, multi-layered defenses, consisting of dense minefields, tank obstacles, and fortifications across hundreds of miles, they have not been using them strategically.
/jlne.ws/3Ro41j6
Ukraine troops have recaptured key village of Klishchiivka near Bakhmut, says Zelenskiy
The Guardian
The Ukrainian president says his forces have recaptured the tactically important village of Klishchiivka on the southern flank of the key frontline city of Bakhmut. "Today I would like to particularly commend the soldiers who, step by step, are returning to Ukraine what belongs to it, namely in the area of Bakhmut," Volodymyr Zelenskiy said in his nightly video address on Sunday.
/jlne.ws/3sXWHAy
Halliburton equipment worth $7.1m imported into Russia in past year, customs records show
Daniel Boffey - The Guardian
US oil and gas multinationals are facing fresh questions over their trade with Russia after customs records revealed that more than $7.1m (£5.7m) worth of equipment manufactured by Halliburton has been imported into the country since it announced the end of its Russian operations.
/jlne.ws/44Zijdb
Ukraine intensifies efforts to break Russia's Black Sea blockade; Two vessels dock at Chornomorsk as Kyiv makes use of unilateral shipping corridor
Roman Olearchyk - Financial Times
/jlne.ws/46cs8FF
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| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | Market for Underlying Security Used for Openings on MIAX Options, MIAX Pearl Options and MIAX Emerald Options for Newly Listed Symbol ARM Effective Monday, September 18, 2023.
Miami International Holdings, Inc
The following symbol will start trading on MIAX Options, MIAX Pearl Options and MIAX Emerald Options beginning Monday, September 18, 2023. As set forth in MIAX Options Rule 503(d), MIAX Pearl Rule 503(a)(3) and MIAX Emerald Rule 503(d), the exchanges shall use NASDAQ as the "market for the underlying security" for the purpose of Openings on the Exchange.
/jlne.ws/3ZkqtLS
New Listing Effective For September 18, 2023 - Arm Holdings plc (ARM)
Miami International Holdings, Inc.
Arm Holdings plc American Depository Shares (ARM) will start trading on MIAX Options, MIAX Pearl Options and MIAX Emerald Options beginning Monday, September 18, 2023 and shall use NASDAQ as the "market for the underlying security" for the purpose of Openings on the Exchange.
/jlne.ws/3RqGk9J
BME partners with Inspiring Girls and BlackRock to promote financial literacy
BME
The agreement is materialized in 5 courses taught by BlackRock professionals through Braindex, BME's 100% online financial training platform; It now offers 82 courses of different levels on Financial Markets and Products, Outreach, Technology and Regulation. Braindex, BME's 100% online financial training platform, announced today at the Stock Exchange Palace in Madrid a collaboration agreement with the Inspiring Girls Foundation and BlackRock, with which it expands its educational offer with five new free courses to promote the dissemination of financial literacy among young women and girls.
/jlne.ws/3sZInYx
Cboe Digital Settlement Service Successfully Clears First Trade Between Nonco and DV Chain
Cboe
Cboe Digital is pleased to announce it has successfully cleared its first trade from Nonco U.S., a subsidiary of one of the largest over-the-counter (OTC) providers in Latin America, and DV Chain, an affiliate of Chicago-based proprietary trading group DV Trading and provider of world-class cryptocurrency trading and technology, on its new Cboe Digital Settlement Service.
/jlne.ws/3rdEs9S
CME Group to Launch Cobalt Hydroxide Futures on October 23
CME Group
CME Group, the world's leading derivatives marketplace, today announced that it will launch Cobalt Hydroxide futures on October 23, pending all relevant regulatory reviews. This is the fourth battery metals futures contract CME Group has launched in response to evolving hedging needs within the rapidly growing electric vehicle space.
/jlne.ws/3PhaCJw
DTCC, Clearstream and Euroclear Call for More Industry Collaboration to Advance Digital Asset Ecosystem; FMIs issue industry paper on challenges and opportunities addressing constraints of scale and interoperability
Deutsche Boerse Group
Today, three of the world's largest financial market infrastructures (FMIs) - DTCC, Clearstream, and Euroclear - released a paper on the state of the industry's digital asset evolution. The paper calls for increased collaboration to progress an ecosystem that currently includes fragmented standards, varying regulatory treatment, limited integrations with institutional-grade payment rails and siloed liquidity - all limiting factors to the further digitalization of global financial markets.
/jlne.ws/3Pox9nB
HKEX Signs Cooperation Agreement With Guangxi Government
Hong Kong Exchanges and Clearing
Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Monday) it has signed a Memorandum of Understanding (MOU) with the People's Government of Guangxi Zhuang Autonomous Region (Guangxi Government) to strengthen cooperation and to support listings from Guangxi companies on Hong Kong's equities market. Under the MOU, HKEX and the Guangxi Government will exchange information on the latest developments in the capital markets of Hong Kong and Guangxi, as well as to jointly host seminars for Guangxi-based organisations on capital raising opportunities in the region.
/jlne.ws/3ZjXxnq
Signaling of Impending Orders and Prearranged Trading
MEMX
This regulatory notice is being provided by MEMX LLC ("MEMX") to highlight the prohibition on two types of trading activities: (1) signaling of impending orders and (2) prearranged trading.
/jlne.ws/45UYK78
SGX-ST Listings Disciplinary Committee reprimands current and former Directors of 8Telecom International Holdings Co. Ltd., Liu Lu, Zhang Yuanyuan, Xiang Ying, Tiffany Gong Qian and Wang Zhejun
SGX Group
Public Reprimand: Breaches of Listing Rules 1. The SGX-ST Listings Disciplinary Committee (the "LDC") reprimands the current and former directors of 8Telecom International Holdings Co. Ltd (the "Company"), Liu Lu, Zhang Yuanyuan, Xiang Ying, Tiffany Gong Qian and Wang Zhejun (the "Relevant Persons"), for, having regard to Mainboard Rule 1402(6), causing the Company to be in breach of the following Mainboard Rules:
/jlne.ws/45S6vdW
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| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | T+1 settlement: The biggest FX shake up in decades; Following the commencement of the testing period for the US shift to T+1 in August, Annabel Smith explores what the foreign exchange-specific implications of the transition might be across achieving best execution, sourcing liquidity, flow netting and trade matching.
Annabel Smith - The Trade
The TRADE reported on 14 August that the testing period for the shift to T+1 settlement in the US had officially begun. The critical window - set to run until the planned implementation date at the end of May 2024 - is a crucial opportunity for the industry to iron out any creases, of which there are many, before the transition is completed.
/jlne.ws/3t2EeDa
Under Musk, Twitter is handing over more data to investigators; The social media company has complied with hundreds of hate-crime user data requests from German authorities since Musk's purchase, prosecutors say
Max Hoppenstedt - The Washington Post
Since Elon Musk bought Twitter last year, he has said he's on a crusade to make the platform stand for protecting free speech - as far as the law allows. He even went so far as to cost the company $350,000 in fines for delaying handing over former president Donald Trump's Twitter data in the investigation into the events leading up to the Jan. 6 attack.
/jlne.ws/3sZzFcJ
SoftBank seeks OpenAI tie-up as Son plans deal spree after Arm IPO; Company is looking to invest tens of billions of dollars in AI, including ChatGPT maker
Nikkei Asia
SoftBank is on the hunt for deals in artificial intelligence, including a potential investment in OpenAI, after the blockbuster listing of U.K. chip designer Arm bolstered Masayoshi Son's multibillion-dollar war chest. Two people familiar with Son's thinking said that the Japanese conglomerate's founder and chief executive is looking to invest tens of billions in AI after completing Arm's initial public offering.
/jlne.ws/3RqZ60S
Nvidia has a stranglehold on AI companies as the chip shortage begins to bite. This rival CEO is eager to offer an alternative.
Hasan Chowdhury - Insider
If there was one company to rule them all in the generative AI boom of 2023, that company might well be Nvidia. Few exert as much power and influence as the $1 trillion chip behemoth because of its graphics processing units (GPUs), which have proven to be the vital source of the compute power needed to train the large language models behind apps like OpenAI's ChatGPT and Google's Bard.
/jlne.ws/46cRDXt
Options Announces 200 New Jobs in Belfast, Expanding its Flagship City Centre Office
Options Technology
Options Technology, the leading provider of cloud-enabled managed services to the global financial sector, today announced its ambitious plans to create 200 new jobs in Belfast over the next three years. The rapidly growing company, headquartered in the heart of Belfast City Centre's Linen Loft building, is making significant strides in expanding its operations.
/jlne.ws/3ZnopD1
How to identify and protect against routing attacks on the Lightning Network
Jagit Singh - Cointelegraph
/jlne.ws/3sQ735q
Tether Co-Founder Sizes Up PayPal's Stablecoin Ambitions
Ian Allison - CoinDesk
/jlne.ws/3t3QAKY
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| Cybersecurity | | Top stories for cybersecurity | FTX bolsters claims portal security measures following cyber breach
Ciaran Lyons - Cointelegraph
Bankrupt cryptocurrency exchange FTX has restored its customer claims portal with tighter security protocols, which was previously shut down due to a cyberattack. Claimants can now continue to submit claims for assets they held on the exchange prior to it becoming insolvent. On Sept. 16, FTX made a statement on X (formerly Twitter), confirming that none of its systems were affected by the cyber breach involving its appointed bankruptcy claims agent, Kroll.
/jlne.ws/3Zmh3zC
Marconi's illusion: What a 120-year-old magician's trick can teach us about cyber preparedness
ASIC
On the 1st of June 1903, Guglielmo Marconi demonstrated his wireless telegraph system to the public. According to Marconi, his system was confidential and secure - a claim soon to be shattered. During the demonstration, while Marconi broadcast from Cornwall, the receiver in London clattered away happily sending on the messages in Morse code. Except the messages weren't being sent by Marconi. As it turned out, the British magician and wireless pioneer, Nevil Maskelyne, had jammed Marconi's signal and was broadcasting his own mocking messages. In today's terms, Marconi had been hacked.
/jlne.ws/3Pq8ZJF
How Companies Can Minimize Cybersecurity Risks During Layoffs
John P. Carlin, Jeannie Rhee and Peter Carey - Bloomberg
The ubiquity of advanced technology has opened the door to efficiencies and innovation, but it has also introduced a new frontier of potential cybersecurity issues, including ones relating to current and former employees. In particular, companies conducting layoffs or downsizing may face a variety of cybersecurity risks as employees exit the organization. Understanding possible cybersecurity threats is a key step as organizations prepare for employee reductions. From there, organizations can plan for how to mitigate these risks, preparing in advance for any threats.
/jlne.ws/3PFR3fq
Industrial Cybersecurity Leader Dragos Raises an Additional $74M in Series D Round Extension Funding Led by WestCap
Dragos Press Release
Dragos, Inc., the global leader in cybersecurity for industrial controls systems (ICS)/operational technology (OT) environments, today announced a $74 million Series D extension, led by strategic operating and investing firm WestCap. The equity investment is an extension of Dragos's $200 million Series D that took place in October 2021, led by Koch Disruptive Technologies, an investment arm of Koch Industries, with funds and accounts managed by BlackRock, a leading global asset manager. This brings the Series D round to $274 million, with total funds raised to date now approximately $440 million.
/jlne.ws/3rhd3Uy
Remote work and GenAI: spanners in the cybersecurity engine?
Yoana Cholteeva - ERP Today
Remote work and GenAI are here to stay. But what does this mean for enterprise cybersecurity? We all know about the rapid changes brought on by the COVID-19 pandemic. But undoubtedly, the strong response from enterprise tech firms became paramount to making nearly every industry's overnight transition to remote working productive and successful.
/jlne.ws/48voYyS
Australia's new cybersecurity strategy to build 6 "cyber shields" around the country
Samira Sarraf - CSO Online
/jlne.ws/3RxHiB4
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| Cryptocurrencies | | Top stories for cryptocurrencies | FTX's Claim to Credibility Was a Family Affair
Hannah Miller - Bloomberg
When you're operating in an industry so unregulated it's dubbed the "Wild West," anything that helps support the notion that you are more in line with the sheriff than the outlaws can help you stand out. In the case of Sam Bankman-Fried, his parents helped do just that. Now, as he stands accused of multiple financial crimes, questions linger about where and how his folks fit into the narrative. Bankman-Fried has denied all the allegations against him.
/jlne.ws/46hfmWC
Sam Bankman-Fried's Parents May Have Been More Involved in FTX Than We Thought
Maggie Harrison - Futurism
In the months since FTX's spectacular implosion last fall, Joseph Bankman and Barbara Fried, Stanford law professors and parents of the now-defunct crypto exchange's disgraced - and currently incarcerated - ex-CEO Sam Bankman-Fried, have maintained that they had minimal involvement with the crypto company. As the company line generally went: Fried never worked for FTX, and though Bankman did work for the company briefly, his stint was short-lived and mostly dealt with philanthropy.
/jlne.ws/45cijXz
Hong Kong Probe Into Crypto Exchange JPEX Results in Arrest
Sam Reynolds - CoinDesk
Hong Kong cryptocurrency exchange JPEX has suspended trading following an probe by the Hong Kong Securities and Futures Commission (SFC), which resulted in the arrest of one person attached to the exchange, according to a local media report. Hong Kong-based JPEX has been operating in the territory without a license, the SFC says, and police have received numerous complaints about the platform.
/jlne.ws/3Pq4oXV
What Europe's new spot Bitcoin ETF means for global markets
Calvin Shen - Forkast
The crypto world is abuzz with Europe's groundbreaking introduction of its first spot Bitcoin exchange-traded fund from Jacobi Asset Management, listed on Euronext Amsterdam - a listing that took two years after initial approval in 2021. This development marks a pivotal moment in the continent's financial history and sets a precedent for other jurisdictions to potentially follow.
/jlne.ws/46houtY
Tech Billionaire Mark Cuban Loses $870K in Crypto Scam
Hope C - CoinMarketCap
Tech billionaire Mark Cuban suffered a setback in his crypto ventures when he fell victim to a cryptocurrency fraud, resulting in a loss of $870,000 across multiple cryptocurrencies.
/jlne.ws/3ric9ah
New Avalanche Dapp Lets Traders Swap Hundreds of Different Tokens in Single Transaction
Shaurya Malwa - CoinDesk
/jlne.ws/44XwXBy
Jaguars QB Trevor Lawrence Settles FTX Endorsement Lawsuit; NFL star accused of helping dupe investors who lost billions; FTX co-founder Sam Bankman-Fried faces fraud trial next month
Jef Feeley - Bloomberg
/jlne.ws/3Pl9bK7
Trevor Lawrence settles FTX crypto endorsement lawsuit
Adam Stites - JagsWire
/jlne.ws/3PImyFy
Coinbase Earned $1M Amid Hack, but Hasn't Reimbursed Victims
CoinDesk
/jlne.ws/46yB0pt
Russia's incompetent air force is one mistake away from sparking war with Nato
Hamish de Bretton-Gordon - The Telegraph
/jlne.ws/3PIqeqS
Keep Your Crypto #SAFU (CZ's Tips)
Binance
/jlne.ws/3LtLAWy
Insurance, agriculture, real estate: How asset tokenization is reshaping the status quo
Ana Paula Pereira - Cointelegraph
/jlne.ws/48x4Ex9
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| Politics | | An overview of politics as it relates to the financial markets | Al Gore Calls Out the Bankers 'Profiting Hugely' From Big Oil
Alastair Marsh - Bloomberg
Al Gore, the former US vice president turned climate crusader, says Big Oil and the banks backing it still have huge financial incentives to stick with fossil fuels, even though their decision to do so is the leading cause of the climate crisis. Bankers "are profiting hugely" from their role as lenders and advisers to fossil fuel companies, Gore said in an interview ahead of Climate Week, the annual gathering in New York of business and government leaders that occurs in conjunction with the UN General Assembly.
/jlne.ws/3r8aYKE
New York climate march sets tone for week of UN talks
Aime Williams - Financial Times
Thousands of climate campaigners filled the streets of New York midtown on Sunday, urging President Joe Biden to stop issuing approvals for new fossil fuel projects, as world leaders gather for the UN's general assembly this week. The demonstration, supported by more than 700 global climate organisations that were also behind related protests in a host of other countries, comes ahead of an inaugural one-day "climate ambition summit" held by the UN on Wednesday, separate to the main talks.
/jlne.ws/3EHIavr
Musk Warns Senators About AI Threat, While Gates Says the Technology Could Target World Hunger
Ryan Tracy and Deepa Seetharaman - Bloomberg
Elon Musk, Bill Gates, Mark Zuckerberg and other technology heavyweights debated the possibilities and risks of artificial intelligence Wednesday in a closed-door meeting with more than 60 U.S. senators who are contemplating legislation to regulate the technology. Musk, the chief executive of Tesla and owner of X (formerly Twitter), warned about what he views as AI's potential to threaten humanity, according to a participant.
/jlne.ws/3PfegUg
Tens of thousands in NYC march against fossil fuels as AOC hails powerful message
Dharna Noor and Aliya Uteuova - The Guardian
Tens of thousands of climate activists took to the streets of New York City on Sunday in a "march to end fossil fuels", with Congresswoman Alexandria Ocasio-Cortez telling the crowd that the movement must become "too big and too radical to ignore". To cheers from the crowd, the progressive Democrat criticized the US continuing to approve fossil fuel projects, something which the Biden administration did earlier this year with the controversial Willow project in Alaska.
/jlne.ws/46g7vsg
Ramaswamy wants to end the H-1B visa program he used 29 times
Myah Ward - Politico
GOP candidate Vivek Ramaswamy has vowed to "gut" the system for H-1B temporary worker visas if he wins the White House. It's the very system he's used in the past to hire high-skilled foreign workers for the pharma company that built much of his wealth. From 2018 through 2023, U.S. Citizenship and Immigration Services approved 29 applications for Ramaswamy's former company, Roivant Sciences, to hire employees under H-1B visas, which allow U.S. companies to employ foreign workers in tech and other specialized jobs.
/jlne.ws/45WrPyT
Bacon Prices and 'Ballot Stuffing': Trump's Biggest Lies on 'Meet the Press'
Peter Wade - RollingStone
/jlne.ws/48dP3SZ
Keir Starmer pledges to seek major rewrite of Brexit deal; Labour leader tells FT his government would put closer trading relationship with Brussels at heart of growth policy
George Parker - Financial Times
/jlne.ws/45WdPp5
EU Ends Ukraine Crop Import Ban, Heightening Trade Tensions; Ukraine agrees to take steps to prevent grain surges, EU says; Poland, Hungary extend unilteral ban despite bloc's move
Jorge Valero, Megan Durisin, and Zoltan Simon - Bloomberg
/jlne.ws/3LndzqY
Ukraine to File Complaint as EU Neighbors Impose Grain Ban; Ukraine weighs retaliatory measures against neighbors; Ukraine may restrict import of Polish apples, Hungarian cars
Volodymyr Verbyany and Kateryna Choursina - Bloomberg
/jlne.ws/48bK0lM
China flies 103 military planes toward Taiwan in a new high in activity the island calls harassment
Associated Press
/jlne.ws/48i8R7C
India tightens wheat stocks limits, no plan to axe import tax
Hellenic Shipping News
/jlne.ws/3ZnZuPv
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| Regulation & Enforcement | | Stories about regulation and the law. | Federal Office Of Justice Imposes Disciplinary Fine On SCHNIGGE Capital Markets SE
BaFin Federal Financial Supervisory Authority
The disciplinary fine order related to a breach of section 325 of the German Commercial Code (Handelsgesetzbuch - HGB). SCHNIGGE Capital Markets SE failed to submit its accounting documents for the financial year 2021 for the purpose of disclosure to the operator of the German Federal Gazette (Bundesanzeiger) in electronic form. The legal basis for the sanction is section 335 of the HGB.
/jlne.ws/3PIk75S
Ex-Warburg Bank CEO Stands Accused in $298 Million Tax Trading Suit; Christian Olearius appears in Bonn court on first day of trial; Probe has also become a headache for German Chancellor Scholz
Karin Matussek - Bloomberg
Christian Olearius, the ex-head of M.M. Warburg & Co, appeared in a German court to stand trial over charges he was responsible for Cum-Ex tax deals at the lender that cost the nation EUR280 million ($298 million).
/jlne.ws/3PnZBWR
Gary Gensler is making the SEC into a banana republic
Charles Gasparino - New York Post
When you think of a Â"banana republic," you think of corrupt dictators someplace distant, where the people in power control the economy and jail their political opponents. Places like this still exist in the world - and believe it or not, right here in the good 'ol US of A. Don't believe me? Consider the absurd campaign-finance fraud case that partisan Democrat Manhattan DA Alvin Bragg brought against DonÂald Trump.
/jlne.ws/3Rm8oeD
SEC Accuses Binance.US of Not Cooperating With Probe: Court Filings
CoinDesk
According to court filings unsealed on Thursday, Binance.US has been accused of not cooperating in a probe by the U.S. Securities and Exchange Commission (SEC), which has said the company's staking, clearing and brokerage services violate federal securities law. CoinDesk's global policy and regulation managing editor Nikhilesh De breaks down the regulatory pressure Binance.US undergoes and what's next for the exchange.
/jlne.ws/3rlekdd
Chairman Behnam to Speak at IETA's North America Climate Summit - NACS 2023
Commodity Futures Trading Commission
Chairman Rostin Behnam will speak at IETA's North America Climate Summit - NACS 2023.
/jlne.ws/3PIJzs7
SEC Updates List of Firms Using Inaccurate Information to Solicit Investors
U.S. Securities and Exchange Commission
The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 29 soliciting entities, three impersonators of genuine firms, and one bogus regulator. The SEC's list of soliciting entities that have been the subject of investor complaints, known as the Public Alert: Unregistered Soliciting Entities (PAUSE) list, enables investors to better inform themselves and avoid being victims of fraud.
/jlne.ws/3ZkUfAe
SEC Charges Lyft with Failure to Disclose Board Member's Financial Interest in Private Shareholder's Pre-IPO Stock Transaction
SEC
The Securities and Exchange Commission today charged Lyft Inc. for failing to disclose a company board director's role in a shareholder's sale of approximately $424 million worth of private shares of Lyft's stock prior to the company's initial public offering (IPO).
/jlne.ws/3sTmZDX
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| Investing & Trading | | Today's top stories from equities, indices and FICC (fixed income, currencies and commodities) | FX Trading Q&A: Richard Turner, Insight Investment
Richard Turner - Markets Media
I had spent about seven years with Pareto prior to the 2013 merger with Insight Investment. Our team combined with the existing Insight FX capability to become an FX specific investment team within Insight. We moved bringing our existing FX mandates. As an asset manager with £629.8Bn under management, we have a lot of different areas in terms of strategy. Historically Liability Driven Investment (LDI) drove our business, but we now offer an integrated approach to pension scheme risk management.
/jlne.ws/3t3F7uU
Trafigura Wrestles With Future of Metals Unit After Losses; Trading house has explored a range of potential transactions; Company may be willing to open up unit to external investors
Jack Farchy, Dinesh Nair, Alfred Cang, and Archie Hunter - Bloomberg
Commodity trading giant Trafigura Group has been exploring a range of potential deals involving its metals business, as it grapples with the unit's future following a string of missteps. Trafigura's metals business has been under pressure for over a year, as profits shrunk and the company was hit by a massive alleged nickel fraud.
/jlne.ws/3PJvr1u
Wall Street Comes to Grips With How Wrong It's Been in 2023; Some strategists lift 2023 calls, remain bears for next year; Investors' quandary is whether the pessimists are still wrong
Jess Menton and Alexandra Semenova - Bloomberg
Stock-market strategists who were largely wrong about this year's rally are finally starting to come to face their mistake, raising year-end targets for the S&P 500 Index. Take Societe Generale's Manish Kabra, who boosted his year-end target last week on the index to 4,750 from 4,300 - 25% above his original call of 3,800 heading into 2023.
/jlne.ws/3PGV0Al
China's desperate stock traders keen for policy 'bazooka' to rouse US$10 trillion bear market from slumber
South China Morning Post
Software engineer Jacky Jia has been paying more attention than usual to his stocks portfolio since China launched a torrent of measures aimed at boosting the beleaguered market in recent weeks. Regulators have slashed the stamp duty on transactions, restricted divestments by major shareholders and taken tighter control of approving new share offerings in a string of actions that have taken the immediate sting out of the sell-offs that have roiled the onshore market.
/jlne.ws/3PHhFg1
A $188 Billion Exodus Shows China's Heft Fading in World Markets; Data show foreign funds shunning China across asset classes; MSCI China set for third annual decline, while EM gauge rises
Jeanny Yu and Charlotte Yang - Bloomberg
A massive retreat of funds from Chinese stocks and bonds is diminishing the market's clout in global portfolios and accelerating its decoupling from the rest of the world. Foreign holdings of the nation's equities and debt have fallen by about 1.37 trillion yuan ($188 billion), or 17%, from a December-2021 peak through the end of June this year, according to Bloomberg calculations based on the latest data from the central bank.
/jlne.ws/3PlbfSn
Small-Cap Stock Surge Adds $318 Billion to Emerging Markets; MSCI EM small-cap index has advanced almost 15% this year; Korea, Taiwan, India lead outperformance over large-cap shares
Srinivasan Sivabalan - Bloomberg
/jlne.ws/3ZnTRkn
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| Environmental, Social and Corporate Governance | | Stories about environmental, social and governance investing | NYC Climate Protests Draw Thousands Ahead of UN Gathering
Daniela Sirtori-Cortina - Bloomberg
Tens of thousands of protesters took to New York City streets on Sunday to call for an end to the use of fossil fuels ahead of the annual United Nations General Assembly, and they urged President Joe Biden to do more to fight climate change. The demonstrations drew figures including New York Congresswoman Alexandria Ocasio-Cortez and actor Susan Sarandon, according to footage posted by organizers on social media. Signs carried by protesters included messages such as "Youth vs. fossil fuels, Biden pick a side," according to photos posted on social media platform X.
/jlne.ws/45WlGD5
Quantum leap in climate action': Multinationals call for tripling of renewable power capacity by 2030
Cecilia Keating - Business Green
A group of the world's largest companies have today issued a joint letter calling on governments attending COP28 Climate Summit this autumn to establish a 2030 global renewable power capacity target. Amazon, Apple, EY, Google, Huawei, PepsiCo, and Unilever are among the global corporates to have this morning backed an open letter which calls for a doubling of energy efficiency improvement rates and a tripling of global renewable power capacity by 2030.
/jlne.ws/46dISMB
Learn How to Spot Greenwashing; Companies making dubious claims about sustainability can be profitable and is a threat to environmental progress. But how do you identify greenwashing?
Olivia Rudgard - Bloomberg
Greenwashing is a way for companies to piggyback on everyone's concerns about climate change - and it's everywhere. Here's your guide to spotting it.What is greenwashing? Broadly speaking, it's when companies questionably claim environmental bona fides to attract more business or draw less scrutiny.
/jlne.ws/45S34E4
How to Cool Down a City; Singapore is rethinking its sweltering urban areas to dampen the effects of climate change. Can it be a model?
Pablo Robles, Josh Holder and Jeremy White - New York Times
As the world warms, sweltering heat in urban areas, from Phoenix to Mumbai, endangers people's health and makes daily life unbearable. That's because almost every aspect of how we build cities amplifies heat, from the buildings we live in to the cars we drive. But unlike most cities, Singapore is spending enormous resources to try to cool itself down - and learning lessons that could help other cities.
/jlne.ws/3EINCOE
Heating Waters Force Change in Industries That Depend on the Ocean
Eric Niiler - The Wall Street Journal
In Maine, lobsters are heading north and some lobstermen are moving into kelp farming. On the West Coast, fishermen are worried about a blob of warm water developing off the Oregon and Washington coastlines, fearing a repeat of an ocean heat wave that devastated salmon harvests from 2014 to 2016. The heating of the world's oceans is disrupting ecosystems and industries that depend on the sea for life.
/jlne.ws/48mUCyv
Regulators Are Trying to Stop Greenwashing Before It Gets Worse; From banning ads to suing over dubious claims, governments are starting to fight back against companies seen as misleading consumers on sustainability.
Olivia Rudgard - Bloomberg
/jlne.ws/44Ygtt9
Errors In a Federal Carbon Capture Analysis Are a Warning for Clean Energy Spending, Former Official Says; A coal plant seeking hundreds of millions in public funding submitted an analysis riddled with mistakes, according to a former Energy Department official. But the government published it anyway.
Nicholas Kusnetz - Inside Climate News
/jlne.ws/3rh9aie
Big Emissions Bills Are Coming for Ships Sailing in Europe; Shipping will join EU's Emissions Trading System in January; Some firms face hundreds of millions of dollars of costs
Jack Wittels - Bloomberg
/jlne.ws/3RjPOno
Inside the Trillion-Dollar Climate Solutions Industry; The Zero podcast is celebrating its one year anniversary. Here's a look back at some of the biggest takeaways from the show.
Oscar Boyd, Christine Driscoll, and Akshat Rathi - Bloomberg
/jlne.ws/45WeMxt
Italian Fund Gets $100 Million for Bet on Energy Transition; Fund is betting on companies transitioning to low-CO2 economy; Investors include family offices and institutional funds
Luca Casiraghi - Bloomberg
/jlne.ws/46hOJ3y
Some Businesses Make 'Woke Free' a Selling Point; A number of companies - from clothing to pet care - are trying to appeal to customers who think corporate America is pushing a liberal agenda.
Santul Nerkar - New York Times
/jlne.ws/3RI71XZ
SocGen Plans to Halt New Oil, Gas Loans in Strategy Update
Alastair Marsh - Bloomberg
/jlne.ws/451qUfo
In Miami, It's No Coincidence Marginalized Neighborhoods Are Hotter; New research suggests the problem traces to a historical federal program that was turned against those who needed it most, through a practice known as redlining.
Amy Green - Inside Climate News
/jlne.ws/48bHv2S
The World's Population May Peak in Your Lifetime. What Happens Next?
Dean Spears - New York Times (opinion)
/jlne.ws/3RrDIsu
Heading to Climate Week? Here's a cheat sheet; What you need to know about what's coming up at Climate Week in New York next week (if you can attend in person, or not).
Heather Clancy - Green Biz
/jlne.ws/44VorDg
SocGen to Commit EUR100 Million to Reducing Gender Pay Gap
Jenny Che - Bloomberg
/jlne.ws/3EEKeVb
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| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | Scaramucci Emerges as a Leading Bidder for SVB Financial's Venture-Capital Arm; Two front-runners vie for SVB Capital, with a court expected to make decision within weeks
Lauren Thomas - The Wall Street Journal
SVB Financial Group, the former parent of Silicon Valley Bank, is closing in on a deal to sell its venture-capital and credit-investment arm out of bankruptcy. Two front-runners are vying in the bidding process for SVB Capital, as it is known, according to people familiar with the matter: a duo of Anthony Scaramucci's SkyBridge Capital and Atlas Merchant Capital, and San Francisco private-equity firm Vector Capital.
/jlne.ws/3PHB0gY
Calpers Is Losing Its Investment Chief-Again; The role's challenges include a national spotlight and an often divided board
Heather Gillers - The Wall Street Journal
The California Public Employees' Retirement System said Friday that its chief investment officer is stepping down after a year and a half on the job, the sixth official to leave the role in 20 years. In a statement released by Calpers on Friday, investment chief Nicole Musicco said she is leaving the job to move back to Toronto "to prioritize those who need me the most, my family and children." The fund had hired Musicco with the hope that she would stay at least five years.
/jlne.ws/44R021L
Former Wells Fargo Executive Avoids Prison in Sham Accounts Scandal; Prosecutors had sought a year of incarceration, which they said would be a deterrent to other corporate executives.
Stacy Cowley - The New York Times
A former top Wells Fargo executive avoided prison time for her role in the bank's sham accounts scandal, after a federal judge on Friday instead sentenced her to six months of home confinement and three years of probation. She was also ordered to pay a $100,000 fine and perform 120 hours of community service.
/jlne.ws/3EIVDTS
BIS and Inter-American Development Bank join forces to foster innovation and financial inclusion in Latin America
Bank for International Settlements
The Bank for International Settlements (BIS) and the Inter-American Development Bank (IDB) are joining forces to foster innovation and financial inclusion in Latin America and the Caribbean by exploring and developing technology that can help to modernise the region's financial systems. The BIS General Manager AgustÃn Carstens and the IDB President Ilan Goldfajn today agreed to foster regional cooperation and integration to develop innovative technologies for the financial sector.
/jlne.ws/48x2Y6P
Singapore Central Bank Bans Zhu, Davies Over Three Arrows; Two men hit with prohibition orders under securities act; Three Arrows' collapse in 2022 exacerbated a crypto rout
Sunil Jagtiani - Bloomberg
Singapore's central bank imposed nine-year prohibition orders on Su Zhu and Kyle Davies for transgressions at their collapsed crypto hedge fund Three Arrows Capital. The orders from the city-state's financial watchdog took effect Wednesday and ban both men from any regulated activity, according to a Monetary Authority of Singapore statement on Thursday.
/jlne.ws/3t6zLPu
Hong Kong central bank warns against crypto firms using banking terms
Ezrea Reguerra - Cointelegraph
/jlne.ws/3EGeSxi
The CEO of a hedge fund that averaged 70% returns over 2 decades doesn't regret sleeping 2,000 nights in his office: 'I really don't see how I could do it otherwise'
Phil Rosen - Business Insider
/jlne.ws/3rgXmMX
UBS sounds out investors over first AT1 sale since Credit Suisse rescue; Potential issuance would be test of confidence after bondholders lost billions of dollars as part of takeover
Owen Walker and Harriet Clarfelt - Financial Times
/jlne.ws/45UFiHH
Monaco Bankers Face Trial With Client Linked to 'Mafia Capitale'; Fabrizio Amore found bankers in the principality allegedly willing to bend their own rules and ignore red flags to take his cash
Gaspard Sebag, Anthony Cormier, and Sergio Di Pasquale - Bloomberg
/jlne.ws/3Rmltoh
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| Work & Management | | Stories impacting work and more about management ideas, practices and trends. | IRS Seeks to Hire 3,700 Agents to Pursue Wealthy Tax Dodgers
Erin Slowey - Bloomberg
The IRS plans to hire 3,700 employees to help fuel its efforts to target large corporations and complex partnerships. Democrats' Inflation Reduction Act set aside tens of billions of dollars for the IRS to intensify its enforcement of tax cheats. The Friday announcement followed agency news last week that it would open examinations for 75 of the largestUS partnerships by the end of September.
/jlne.ws/46jVgel
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| Wellness Exchange | | An Exchange of Health and Wellness Information | Expected CDC guidance on N95 masks outrages health care workers; Health workers warn that loosening mask advice in hospitals would harm patients and providers.
Amy Maxmen - KFF Health News
Nurses, researchers and workplace safety officers worry new guidelines from the Centers for Disease Control and Prevention might reduce protection against the coronavirus and other airborne pathogens in hospitals. A CDC advisory committee has been updating its 2007 standards for infection control in hospitals this year. Many health care professionals and scientists expressed outrage after the group released a draft of its proposals in June.
/jlne.ws/44Z2VgK
New Study Finds Limited Access to Legal Services Quells Overall Wellness and Productivity Among U.S. Employees
Press Release
As today's workforce continues to navigate changing socioeconomic conditions and a complex legal landscape, research in a new study from MetLife Legal Plans found the interest for legal services is on the rise. According to MetLife's Legal Access Study, more than two-thirds of today's employees (67%) have faced a legal situation in the past five years-this is particularly true of those in marginalized and low-income groups.
/jlne.ws/3RrJF8O
WHO takes its message on Health for All to second Walk the Talk New York
WHO
Cheered on by some of the world's top health, political and sports leaders, athletes and entertainers, thousands of people walked, ran and rolled through New York's Central Park early on 17 September to celebrate healthy lifestyles and pursuit of the goal of Health for All. The second edition of the Walk the Talk New York: Health for All Challenge was held on the eve of the United Nations General Assembly High-level Week, and opened by Dr Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization and Mayor Eric Adams of New York City.
/jlne.ws/3Rq7ZrC
Did you have a severe case of COVID-19? Research suggests that Neanderthal genes could be to blame
Charles R. Davis - Business Insider
Researchers in Italy say their study of people infected with COVID-19 shows that those with certain genetic variations attributable to Neanderthal ancestry were far more likely to experience severe symptoms requiring hospitalization, The Wall Street Journal reported Sunday.
/jlne.ws/45TqUPH
She wrote to a scientist about her fatigue. It inspired a breakthrough. Her dogged efforts lead to a new scientific discovery that may help others with long covid and other chronically fatiguing illnesses
Brian Vastag - Washington Post
Amanda Twinam's journey to understand her decades-long fatigue began with a breast cancer diagnosis at age 28. Twinam underwent a mastectomy before enduring chemotherapy. The medicines made her sick and triggered seizures, which eventually brought her to a rheumatologist. That doctor found a marker for autoimmune diseases in Twinam's blood. And yet, none of the proposed diagnoses fully fit.
/jlne.ws/3ZjdrOV
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| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | Chinese state firms' help to troubled shadow bank does little to address investor concerns
Reuters
The involvement of two Chinese state-owned financial firms in Zhongrong International Trust Co's operations and management may diffuse risk at the troubled shadow bank but does little to ease concerns about missed payments, analysts and investors said.
/jlne.ws/3sWaVCb
Aussie RI Market Sees Slight Dip, Impact Investment Doubles
Vibeka Mair - ESG Investor
Australia's responsible investment market decreased by 16% to AU$1.3 trillion (US$0.8 trillion) in 2022 compared to the previous year, according to a report by the Responsible Investment Association Australasia (RIAA). The 'Responsible Investment Benchmark Report 2023 Australia' said that slow global economic growth, and a tightening of reported responsible investment funds due to global regulation and industry standards were all contributing factors to the decline. The survey involved 272 professional investment managers in Australia, who are engaged in responsible investment amounting to AU$3.3 trillion.
/jlne.ws/44VnMBM
Azerbaijani forces using Russian-style symbols are massing on the border of Armenia
James Kilner - The Telegraph
Azerbaijan's military is building up its forces near Armenia and has painted its vehicles with "war markings" similar to ones used by the Russian army before it invaded Ukraine. Open-source intelligence shared with the Telegraph by The Centre for Information Resilience (CIR) appears to back up Armenian claims that Azerbaijan is preparing for war.
/jlne.ws/3PF9Ozs
Greece to Boost Climate Disaster Funds With Hotel Tax Hike; Mitsotakis measures target tax evasion, short-term rentals; Prime minister pledges to uphold Greece's fiscal stability
Sotiris Nikas - Bloomberg
Greece plans to double its budget backstop for natural disasters linked to climate change by increasing a levy on accommodations, mostly affecting luxury hotel stays, Prime Minister Kyriakos Mitsotakis said. "Special reserves will increase from EUR300 million ($320 million) to EUR600 million," as of 2024, Mitsotakis said in an annual speech on economic priorities in Thessaloniki on Saturday, following extreme weather that hit Greece with its biggest forest fires and floods in history this year.
/jlne.ws/3sXyOcn
Water-starved Saudi confronts desalination's heavy toll
Robbie Corey-Boulet - Agence France-Presse
Solar panels soak up blinding noontime rays that help power a water desalination facility in eastern Saudi Arabia, a step towards making the notoriously emissions-heavy process less environmentally taxing. The Jazlah plant in Jubail city applies the latest technological advances in a country that first turned to desalination more than a century ago, when Ottoman-era administrators enlisted filtration machines for hajj pilgrims menaced by drought and cholera.
/jlne.ws/3RqLxyG
Russia routes thin-hulled oil tankers through Arctic for first time; Use of unreinforced vessels raises risks of environmental disaster as Moscow diverts sanctions-hit exports
David Sheppard and Chris Cook and Anastasia Stognei - Financial Times
/jlne.ws/48vmZuq
EU lifts import ban on Ukraine's grain; Poland says it will apply unilateral curbs after Brussels ignored pleas to extend restrictions
Andy Bounds and Alice Hancock, Raphael Minder and Susannah Savage - Financial Times
/jlne.ws/3PlhyWc
Heating Waters Force Change in Industries That Depend on the Ocean
Eric Niiler - The Wall Street Journal
/jlne.ws/48mUCyv
San Francisco Office Market Shows Signs of Life; Sales slowly materialize as some sellers finally accept much lower prices
Peter Grant - The Wall Street Journal
/jlne.ws/3ZpQAkS
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