Top banking watchdogs issue stark warning over AI-driven cyber attacks | John Lothian News

First Read Hits & Takes John Lothian & JLN Staff Yesterday was a historic moment, as President Donald Trump pointed out, when the NYSE and Nasdaq opening bells were rung in the Oval Office on the first day of trading for Trump Accounts. The bell that was rung was custom-made for the event by NYSE’s […]

By @JohnLothian · July 7, 2026 · 67 min read

First ReadHits & TakesJohn Lothian & JLN StaffYesterday was a historic moment, as President Donald Trump pointed out, when theNYSEandNasdaqopening bells were rung in the Oval Office on the first day of trading for Trump Accounts. The bell that was rung was custom-made for the event by NYSE’s Chief Carpenter Martin Murphy and team. You can see a short Instagram post about the making of the bell and standHEREanda picture on Instagramof ICE Chairman and CEOJeffrey Sprecherand NYSE PresidentLynn Martinalongside President Trump in front of his deskAlso,Nasdaqwas represented by CEOAdena Friedmanand PresidentNelson Griggs, seenHEREin an Instagram photo. N5X has selectedVermiculusto provide itsVeriClearclearing system for a new energy derivatives central counterparty (CCP) in Brazil,Vermiculus announced in a press release. This is the company’s fourth clearing, risk, and settlement system deployed in South America since 2022. The system will enable N5X to establish a clearinghouse and shift Brazil’s energy market from an uncleared over-the-counter environment to centrally cleared futures, with N5X managing its own clearing operations and risk. Brazil consumes roughly 632 TWh of electricity annually, making it the world’s sixth-largest electricity consumer. Guilherme Netto, Co-CEO of N5X, and Taraneh Derayati, CEO of Vermiculus, both commented on the partnership and its role in developing the Brazilian energy market’s infrastructure. Miami International Holdings, Inc. (MIAX)reported its June 2026 trading results,with theMIAX Exchange Groupreaching a record year-to-date average daily volume of 10. 9 million contracts through June, a 26. 0% jump from the same period in 2025, alongside a YTD market share record of 16. 9%, up from 16. 4% a year earlier. The multi-list options segment posted strong monthly gains—June ADV rose 37. 7% year-over-year to 11. 3 million contracts—while U. S. equities lagged, as MIAX Pearl’s market share slipped to 0. 9% YTD and its ADV dipped 2. 3%; in futures, agricultural volume fell 34. 2% YTD even as financial futures contributed a new revenue stream. Bloomberg’s guide to summer 2026’s most anticipated books highlights ten forthcoming fiction and nonfiction titles worth grabbing before the season ends,James Tarmy reports for Bloomberg Pursuits. The roundup spotlights five works of fiction: Colson Whitehead’s Cool Machine—the closing volume of his Pulitzer-winning Harlem Trilogy; Paul Yoon’s Etna, narrated by a former military dog; Kathleen Rooney’s Man Overboard!; Nathaniel Rich’s data-heist novel Cloudthief; and Rachel Cusk’s Life of M. The nonfiction list features Kim Phillips-Fein’s Country of Lords, which examines America’s uneasy relationship with equality and a ruling class; Catherine Ostler’s The Renoir Girls; Claire Stapleton’s Google memoir Don’t Be Evil; Matthew Futterman’s tennis exposé The Cruelest Game; and Pamela Colloff’s Catch the Devil, a true-crime account of injustice on the Gulf Coast. Here are the headlines from in front of FOW’s paywall from some recent stories:Tradeweb rates derivatives ADV jumps 59% in JuneEurex eyes Kraken launch for retail derivatives expansion this yearICE assumes administration of LBMA platinum and palladium benchmarksInstitutional interplay blurring lines between crypto, traditional finance- reportPolymarket proposes tighter consumer protection in clearing rule upgradeHKEX reports 8% jump in derivatives trading for JuneNCDEX relaunches black pepper futures after decade-long hiatusESMA names Etrading Software’s TME as consolidated tape provider for OTC derivativesICE reports 20% year-on-year rise in June open interest, amid commodity trading slow downRegulators set guidelines to support Hong Kong’s fixed income, currency marketsHong Kong launches gold clearing and settlement system: FIC & Bond Connect SummitAPAC ramps up derivatives hedging and search for energy supply alternatives: FT webinarPico, ITRS join forces to step up Indian firms’ trade observabilityHKEX partners with CIPS to strengthen offshore renminbi settlement infrastructureDTCC hails ESMA’s ‘report once’ framework to drive EU regulatory harmonisationEuronext logs 34% growth in June derivativesCboe reports 39% surge in June derivatives trading volumeGlobal Derivatives Market Insights and AnalysisHave a great day and stay safe, and treat people the same way you want to be treated: with respect, equality, and justice. ~JJL*****Our most-read stories from our previous edition ofJLN Optionswere:CME’s Sammann Sees War, Energy Transition Fueling Options Boom, 24/7 Marketsfrom John Lothian News. Prediction Markets, Explained: The Misunderstood Billion-Dollar Industryfrom Law of Code (video via YouTube). Millennium-Backed Trader Gains 61% With Bets on AI Backbonefrom Bloomberg. ~JBSubscribe to the JLN Options NewsletterHERE(it’s free). ++++What I Would Have Said at Mount RushmoreWILLIAMS BAY, WI (JLN) ― July 6, 2026: Standing in the shadow of four presidents carved into granite, I would not have warned the crowd about communism, as President Donald Trump did. Not because communism isn’t a failed system ― it plainly is ― but because warning people about failure is easy. The harder, more honest, more American thing to do is to defend what we have, explain why it works, acknowledge where it doesn’t, and commit to fixing it. That is what I would have said. ++++Eurex CEO Bets on Retail, Repo and a “Hybrid CCP” for Digital EraJohnLothianNews. comLONDON (JLN) – July 7, 2026: Eurex is retooling its liquidity programs, expanding access channels and building a “hybrid CCP” to bridge traditional and digital markets, chief executive officer Robbert Booij said in an interview at the FIA IDX conference. Speaking with FOW’s Radi Khasawneh at the Park Plaza London Westminster Hotel, in an interview shot by a JLN video team for the JLN Industry Leader video series produced in partnership with FOW, Eurex chief executive officer Robbert Booij laid out a strategy built around unlocking European household savings, deepening liquidity across the options curve, and positioning the exchange’s clearinghouse for a convergence of traditional and digital finance. Watch the Robbert Booij Video »++++Occupants of capsized boat in Lake Geneva that killed 3 children are from Batavia and Wheaton, police sayRobert McCoppin and Caroline Kubzansky – Chicago TribuneLAKE GENEVA, Wis. — Joseph Roberts was spending a day with his family on the Lake Geneva beach Friday afternoon when he looked up and saw a black sky. Roberts, 45, went to get a tarp for his truck, but quickly realized the storm would outpace him. Within minutes, he said, “pandemonium” had arrived. “These winds were vicious,” Roberts said. “Six foot whitecaps, throwing boats — at least two flipped over. ” Roberts and his family sheltered in his truck, he said. As they emerged, trying to get their bearings, they started to hear sirens. Roberts’ mother ventured down toward where emergency workers were swarming the beach and came back with a terrible observation: “This couple was down there, hysterical,” he said. “They had lost children, there were three missing. ”/jlne. ws/4vi6trJ***** More details on the tragedy on Geneva Lake. ~JJL++++‘Trump Accounts’ Are Now Live. Here’s What to Know. Accounts might be worth opening even for children who don’t qualify for the $1,000 in government seed moneyAshlea Ebeling and Richard Rubin – The Wall Street JournalTrump Accounts for kids are now available, and there are a lot of considerations for parents who want to open them. The new type of savings account is a custodial individual retirement account for children, with special rules until the year the child turns 18. For the next few years, the Trump Accounts come with $1,000 of seed money from the Treasury Department for newborns. That money will grow tax-deferred, with income taxes due upon withdrawal. /jlne. ws/3SPUN1R****** Good thing this is not a saving program to attend Trump University. ~JJL++++Monday’s Top ThreeOur most clicked story on Monday was a tie betweenJune at FIA: IDX, Market Reform and Options Growth, from the FIA on LinkedIn, andEx-NSE official warns of liquidity risks from tightened RBI norms, STT hike, from FOW. Second wasNSE plans to launch quanto cross-currency derivatives, from FOW. And third was a tie betweenCiti expands precious metals business with LPMCL clearing membershipandKraken allows tokenised equities as collateral for futures trading, both from FOW. Lead StoriesTop banking watchdogs issue stark warning over AI-driven cyber attacks; IT weaknesses could be exploited by frontier models in a ‘matter of minutes’, say ECB and ESRBOlaf Storbeck, Florian Muller and Martin Arnold – Financial TimesEurope’s top banking watchdogs have warned that frontier AI models such as Anthropic’s Mythos could create “systemic risks to the financial system” as they gave lenders a tight four-month deadline to prepare for greater cyber security threats. The European Central Bank’s chief financial supervisor Claudia Buch on Tuesday sent a letter to 110 lenders giving them until the end of October to come up with a “comprehensive action plan” to combat the cyber risks posed by state of the art AI models. /jlne. ws/4eOXLfNHong Kong Begins Trial Operation of New Gold Clearing SystemIris Ouyang – BloombergHong Kong has launched the trial operation of a new gold clearing system, backed by several major banks, in a key step toward its ambition to become a significant bullion-trading hub with price-setting power. The mechanism, which introduces a new gold price benchmark called HAU that is now live on Bloomberg, will help lay the groundwork for the city to contribute a global reference rate for the gold-trading market, Hong Kong Chief Executive John Lee said on Tuesday at the Hong Kong FIC & Bond Connect Summit. /jlne. ws/4baEcvYChina gives its investors more access to bonds in Hong Kong; Authorities raise quota for offshore Connect scheme in bid to boost international use of renminbiArjun Neil Alim and William Sandlund – Financial TimesChina will nearly double the amount of bonds its investors can buy in Hong Kong and allocate more of its foreign reserves to the territory, in a bid to boost international use of the renminbi and widen mainland access to offshore investment. The Bond Connect scheme, which allows mainland Chinese investors to buy offshore bonds in Hong Kong, will increase its annual quota to Rmb800bn ($118bn) from Rmb500bn, said Pan Gongsheng, China’s central bank governor, on Tuesday. /jlne. ws/4gptYePA Perpetual Future Is a CFD in a Hoodie. Europe Just Took the Hoodie OffFinancial and Business News | Finance MagnatesA perpetual future is a contract for difference that puts on a hoodie. Same economics, same leverage, same retail punter liquidated at 3am with their rent money. For years, the hoodie worked. Call your CFD a perp, book it offshore, advertise 100x, and the rulebook that governs every other leveraged retail product in Europe simply did not reach you. On 24 February 2026, the European Securities and Markets Authority took the hoodie off. A perpetual future that meets the CFD definition is a CFD, ESMA said, and the test applies irrespective of its commercial name. /jlne. ws/4vk6Z8tThe World Cup Kicked Prediction Market Trading to $31 Billion. But Can the Industry Handle the Pressure Test?Jonathan Small – EntrepreneurKalshi and Polymarket had their biggest month ever in June, driven by the FIFA World Cup. Kalshi saw more than $31 billion in notional trading volume, a more than 70% jump from May’s $17. 9 billion. Meanwhile, Polymarket’s international exchange set a new monthly record at $10. 8 billion, reversing a two-month downtrend, according to CNBC. Even upstart Rothera — a joint venture between Susquehanna International Group and Robinhood that launched in June — managed $2 billion in its debut month, capturing 7% of the U. S. prediction market. /jlne. ws/3R4gU4bPrediction Markets Head to a Supreme Court Showdown as New Jersey Gets an August DeadlineMichael J. Collins – Lower Bucks TimesPrediction markets are barreling toward a possible US Supreme Court reckoning after Justice Samuel Alito gave New Jersey until August 4, 2026, to file a petition challenging a lower-court ruling that sided with the event-contract platform Kalshi. If the state moves forward, the case, docketed as Flaherty v. KalshiEX, could become the first prediction-markets dispute the nation’s highest court agrees to hear, and its outcome would set the ground rules for a business that has exploded into a multibillion-dollar force during the 2026 World Cup. At stake is a deceptively simple question with enormous consequences: who gets to regulate these contracts. Are they gaming products that individual states can police, or federally regulated financial instruments overseen by the Commodity Futures Trading Commission? The answer will shape where and how millions of Americans can trade on elections, sports and other real-world events. /jlne. ws/4vlFX0PPolymarket Released the Most Unexpected Ad of the Year. Every Marketer Should Study ItVictoria Watters – IncA prediction market ad is supposed to make your pulse spike. You’d expect fast cuts, live odds, and the message that everyone is already in (and you’re late). Polymarket just ran an ad that does none of that. The spot, which premiered last month during the World Cup, opens on famed music producer Rick Rubin sitting cross-legged and barefoot. He inquires, “If you could ask one question, what would you ask?”, over Kanye West’s “Runaway. ” Cut to stylish individuals from various countries asking questions in their native languages, ranging from “Will Messi win again?” to “Will the world be better off four years from now?” It looks closer to an avant garde fashion campaign than that of a betting platform. /jlne. ws/4vKzr4wSEC Names Paul Knight as Chief Operating OfficerSECThe Securities and Exchange Commission today announced that Paul Knight has been named as the agency’s Chief Operating Officer (COO). As COO, Mr. Knight will oversee the SEC’s operational and administrative functions, including the agency’s Office of Human Resources; Office of Acquisitions; Office of Financial Management; EDGAR Business Office; Office of the Chief Data Officer; Office of the Chief Risk Officer, and Office of Support Operations, which includes the agency’s Freedom of Information Act, Records Management, and Facilities Management functions. /jlne. ws/4fjbL1nTech Volatility Hits Highest Since Dot-Com Bust Next to S&P 500Bernard Goyder – BloombergThe higher the rally in technology high-flyers, the louder the anxiety around a new wave of turbulence in the group. The Cboe NDX Volatility Index, a gauge of contract costs tied to the Nasdaq 100 Index, has been rising steadily this year and is now sitting near 27. The reading represents the highest level since 2002 relative to the Cboe VIX Index, which uses such contracts to measure the expected price swings for the broader S&P 500. Beneath the relatively placid surface of a broader stock market, concern is growing that its best-performing corner may be experiencing haywire swings. Worries are rising that positioning in the Nasdaq 100 has become excessive and a 30% rally from late March stretched. /jlne. ws/4aGeXSdEconomic Hit Men for Gambling AppsMax Moran – The American ProspectFrom 2021 to 2025, Elizabeth Prelogar served as President Biden’s solicitor general, the top litigation job in United States law. Last month, Prelogar filed an amicus brief on behalf of a very different client. Now in private practice at BigLaw firm Cooley LLP, Prelogar has apparently taken a contract with the Coalition for Prediction Markets, a lobbying group representing Kalshi and several crypto firms, including Coinbase. (The overlap between crypto and prediction markets is significant: Many prediction markets are built on crypto infrastructure, and several major crypto firms are now offering prediction market services. )/jlne. ws/3RpaEEaAI Won’t Bring Back Era of Rapid Growth, Says Nobel Prize WinnerTom Rees – BloombergA Nobel Prize-winning economist has warned that artificial intelligence will not return Western economies to the era of rapid productivity growth, which may be gone forever. Christopher Pissarides, who specializes on the impact of automation in work, said as many as four in 10 US and UK jobs would be largely unaffected by AI and cited areas such as nursing and hospitality. Tech firms and governments have pinned their hopes on AI reviving levels of growth that have slowed sharply in recent decades. The sluggish performance of Western economies, particularly in Europe, has made policy trade-offs more difficult and potentially contributed to a febrile political backdrop amid weak real wage gains. /jlne. ws/4gZDrtpNovel ProductsPrediction MarketsPrediction market tax proposal to return in fall, NJ Assembly speaker saysNikita Biryukov – New Jersey MonitorA proposal to tax prediction markets that did not clear floor votes in either legislative chamber before lawmakers broke for their customary summer recess will return along with legislators come the fall, Assembly Speaker Craig Coughlin (D-Middlesex) told the New Jersey Monitor. The bills, which cleared both chambers’ budget committees in party-line votes, would enact a 9% surtax on prediction markets’ net income in a bid to draw more revenue for the state. /jlne. ws/4y3eNhzProposed state budget would legitimize prediction markets in North CarolinaZachery Eanes and Mary Helen Moore – AxiosA provision in North Carolina’s proposed state budget that would authorize prediction markets is fueling some criticism, with one group calling it a “sweetheart deal” for prediction market companies. Why it matters: Prediction markets are currently regulated at the federal level, which treats them as futures contractors rather than gambling sites. /jlne. ws/4p6qMXNProspect Markets to Enter US Prediction Markets Through Partnership backed by Crypto. comTMX Newsfile – Yahoo FinanceLetter of Intent with Foris DAX FCM LLC, operating as OG Broker, which is backed by Crypto. com, to launch a sports focused prediction market experience through a CFTC-registered exchange and clearinghouse in the United States, targeting an addressable market estimated to exceed $1 trillion in annual trading volume. /jlne. ws/4f0WfppHow Polymarket is Rewriting the Prediction Market ModelMaya Derrick – Bizclik Media LtdWhat happens when a prediction market shifts from pricing probabilities to shaping cultural conversation? Polymarket’s latest move offers a clear signal, voiced by Rick Rubin. The company has unveiled Questions Are Everything, its first global brand campaign, launched to coincide with the 2026 World Cup. /jlne. ws/4aDL198Pro Padel League inks Kalshi to multiyear marketing dealRob Schaefer – Sports Business JournalPro Padel League, preparing for the start of its third full season with an event in N. Y. July 9-12, has signed Kalshi to a multiyear sponsorship. Terms of the agreement were not disclosed, but PPL CCO Diane Gotua told SBJ it is technically an extension of a proof-of-concept the two sides executed around PPL’s season-ending City’s Cup Final last fall. David Oxfeld, through his sponsorship agency Nexus (PPL’s agency of record), aided Gotua and PPL CEO Mike Dorfman in talks, while Kalshi negotiated directly led by its Head of Sports Partnerships Adam Barrick. In addition to offering PPL-specific markets and being designated the league’s “official prediction market partner,” Kalshi will receive brand visibility at PPL events and on PPL broadcasts; present VIP hospitality spaces for Kalshi partners and PPL fans; and stage other activations such as co-branded giveaways and exclusive padel clinics. Barrick also teased a potential social media content collaboration with comedian Andrew Schulz, who is an avid padel player and Kalshi ambassador. /jlne. ws/4y4zKZHFrom Prediction Markets to Decision Markets and Beyond!Alex Tabarrok – Marginal REVOLUTION/jlne. ws/4p4rRiENevada senators fight to protect oversight of prediction marketsLas Vegas Sun Staff/jlne. ws/3SMI6F8Prediction Markets Face Spotify Pushback After $3 Million Kalshi BetTradingView/jlne. ws/4vev9BeMichigan court sidelines Kalshi sports marketsJoe Guillen – Axios/jlne. ws/44gjSWkTwo traders sue Polymarket over disputed resolution of Strategy bitcoin sale marketDanny Park – The Block/jlne. ws/4basxgGHow Americans traded $571 million on Polymarket political bets despite the US banYahoo Finance Video – Yahoo Finance/jlne. ws/4eNgzMiTraders Sue Polymarket Over ‘No’ Ruling on Strategy Bitcoin SaleDecrypt Agent – decrypt/jlne. ws/4y5VcxcSports & GamingBillionaire John Arnold commits $2. 6 million to study online sports betting riskJustin Papp – CNBCBillionaire philanthropist John Arnold says online sports betting has changed immeasurably since it became legal in the U. S. in 2018, thanks to the rise of online prediction market platforms Kalshi and Polymarket and mobile apps like DraftKings and FanDuel. To better understand the potential risks, he’s awarding $2. 6 million to researchers studying the evolving world of gambling on sports. /jlne. ws/3SPeHtVPrediction market betting would be authorized in NC’s new budget. What it means for sports bettingWill Doran, WRAL state government reporter – WRALWanna bet prediction markets will face new costs in North Carolina? Odds are it’ll happen if the state’s new budget becomes law. Across the country, prediction market companies are facing scrutiny over concerns that they might fuel insider trading or otherwise run afoul of gambling laws and regulations. But in North Carolina, the state legislature is seeking to become the first to formally authorize — and start taxing — the companies. /jlne. ws/4fnZiJKPerpetual FuturesBinance Captures 80% of TradFi Perpetual Market as SpaceX ContractsVictoria Hale – HOKANEWSBinance has further cemented its position as the dominant player in the emerging market for tokenized traditional finance (TradFi) perpetual contracts, processing an estimated $53. 8 billion in monthly trading volume and accounting for approximately 80% of the global TradFi perpetual futures market. The milestone underscores the growing convergence between traditional financial assets and cryptocurrency trading infrastructure, as investors increasingly seek around-the-clock exposure to equities through blockchain-powered markets. /jlne. ws/3SNZVDJHyperliquid Open Interest Hits $10. 2B As June Volume Surges 34%Dhaval – BitcoinWorldHyperliquid, the decentralized derivatives exchange, has seen its total open interest (OI) climb past $10. 2 billion for the first time since October 2025, signaling renewed trader engagement in crypto perpetual futures. The milestone, reported by The Block, reflects a broader uptick in on-chain derivatives activity. According to data from The Block, Hyperliquid’s trading volume in June reached approximately $267 billion, a 34% increase from the previous month. This surge places Hyperliquid among the most active platforms in the decentralized finance (DeFi) derivatives space, where it competes with centralized exchanges like Binance and Bybit, as well as other decentralized protocols such as dYdX. /jlne. ws/4wxOTkKCoinbase secures UK authorization to offer traditional investments alongside cryptoFrancisco Rodrigues – CoinDeskThe license allows institutional traders to access perpetual futures and gives U. K. retail customers the ability to trade equities to begin with. /jlne. ws/4wrHLpEAfter $70M Zengo Deal, eToro Strategic Investment Eyes Onchain PerpsAmelia Tomasicchio – The CryptonomisteToro’s strategic investment in Extended, an onchain perpetual futures exchange, signals something more than a typical venture bet — it maps out a concrete path toward bringing decentralized derivatives to mainstream retail investors through the Zengo self-custody wallet. /jlne. ws/4pfCFuACrypto Liquidations Surge: $240M in BTC and $130M in ETH Positions Wiped in 24 HoursBitcoin World – CryptoRankThe cryptocurrency perpetual futures market experienced a significant wave of liquidations over the past 24 hours, with Bitcoin (BTC) and Ethereum (ETH) leading the losses. Data shows that approximately $240 million in BTC positions were liquidated, with a notable 61. 83% of those being short positions. Similarly, ETH saw $130 million in liquidations, where shorts accounted for 69. 94% of the total. /jlne. ws/4f3PP9mAfrica’s Largest Centralized Exchange Integrates Hyperliquid PerpsDavid Christopher – BanklessVALR, Africa’s largest crypto exchange by volume, is launching over 200 Hyperliquid-powered perpetuals markets, marking the first major regulated exchange to integrate the chain to expand its own offerings. /jlne. ws/4p8K6nfNew Contracts & ListingsVariational Introduces Swaps with $1B TradFi LiquidityCryptoNewsOn July 6, Variational, a leading peer-to-peer derivatives trading protocol on Arbitrum, announced the launch of its new on-chain product, Swaps, in Q3, which is expected to expand the protocol’s operations by attracting institutional investors. The official announcement stated that “Today, we’re enabling the first TradFi hedging venues integrated with the Omni Liquidity Provider (OLP) to begin improving spreads across a select set of our existing crypto-native perps, and announcing swaps, a new instrument type that will bring TradFi-level liquidity fully on-chain in Q3. ”/jlne. ws/4wteif4World ConflictsUkraine InvasionUkraine Says It Hit Russian Ships to Deepen Crimea’s Fuel CrunchBloombergUkraine said it attacked eight small Russian fuel tankers overnight in the Sea of Azov, as Kyiv seeks to cut off gasoline supplies to occupied Crimea. “The battle for fuel bound for Crimea across the Sea of Azov continues,” Robert Brovdi, Ukraine’s commander of unmanned forces, said in a Telegram statement on Tuesday. /jlne. ws/44ceHGTNetherlands Has Maxed Out Its Military Support For UkraineAndrea Palasciano – BloombergThe Netherlands has no more scope to offer direct military support to Ukraine, Dutch Defense Minister Dilan Yesilgoz-Zegerius said. Speaking in an interview on the sidelines of the summit, Yesilgoz-Zegerius said she will be calling on other countries to help Ukraine but that the Netherlands has done all it could. /jlne. ws/4y8YLmkUkraine Air Force Data Expose Shortfall in US Patriot MissilesAliaksandr Kudrytski – BloombergUkraine’s ability to shoot down Russian ballistic missiles has deteriorated in recent large-scale attacks, a sign that Kyiv is lacking US-made Patriot interceptors to defend against strikes. Ukraine failed to intercept any of the 23 Iskander-M ballistic missiles or the six high-speed Zircon and Oniks missiles launched by Russia in an overnight strike from Sunday to Monday, according to a Ukrainian Air Force tally published on Telegram. /jlne. ws/3R6jercMiddle East ConflictIranian Strikes on Ships Test Cease-Fire and Threaten Energy Flows in GulfEric Schmitt, Qasim Nauman and Jenny Gross – The New York TimesNew Iranian strikes on commercial ships in the Strait of Hormuz presented another test of the cease-fire between the United States and Iran and threatened to interrupt a steady resumption of energy supplies in the region. Iranian missiles hit two ships in the strait, but there were no casualties, a U. S. official said late Monday Eastern time. According to a notice issued early on Tuesday by the United Kingdom Maritime Trade Operations organization, a monitoring center led by Britain’s Royal Navy, the crew of a tanker off the coast of Oman reported a strike by an unidentified projectile, which caused a fire on the vessel. /jlne. ws/4f2QU11Other ConflictsFincantieri Says Hybrid Warfare Is Growing Threat to Europe SeasAlberto Brambilla – BloombergHybrid warfare presents an emerging threat to Europe’s underwater cable and energy links, the chief executive officer of Italian shipbuilder Fincantieri SpA said. “The protection of critical underwater infrastructure is something underestimated for quite a long time. It is an underestimated threat,” Chief Executive Officer Pierroberto Folgiero said Tuesday in an interview with Bloomberg TV. “The Mediterranean sea is not the biggest on Earth, but it is probably the most congested. ”/jlne. ws/3Rn5loLEXCHANGES OTC CLEARINGAbu Dhabi Securities Exchange to remove ETFs and futures daily price limits to streamline tradingNatasha Cocksedge – The TRADEThe Abu Dhabi Securities Exchange (ADX) is set to remove daily price limits for listed exchange traded funds (ETFs) and futures, as the trading venue looks to boost market efficiency and liquidity. The move will come into effect on 3 August 2026, and is expected to support more efficient price formation, as well as continuous liquidity provision, to facilitate smoother investor trading. Specifically, the removal will allow ETFs and futures prices to reflect new information in real-time, which is in turn set to reduce trading disruptions such as halts and pauses caused by daily bands, and strengthen the quality of market price formation. /jlne. ws/44gsFaMEuronext Cuts Trading Data Prices Following Industry PushbackPablo Mayo Cerqueiro and Charles Capel – BloombergEuronext NV is dialing back planned price hikes on trading data after critics warned that some market participants would face higher costs for crucial trading information. The revisions, published last week on the exchange operator’s website, come as Euronext works to update fees to comply with European Union rules meant to improve access and transparency. An earlier version of the price list sparked pushback from market participants and prompted the company to consider changes. /jlne. ws/3Tm64HjASX Group monthly activity report – June 2026ASX/jlne. ws/4p8E9GVFinancial knowledge in Europe: Two-thirds feel well informedBoerse Stuttgart GroupA representative, cross-country study by Boerse Stuttgart Group provides insights into attitudes and decision drivers regarding finance and investments. 65 percent of respondents indicate that they are very well or well informed about financial topics. /jlne. ws/4fkL78iCboe Global Markets Reports Trading Volume for June 2026CboeCboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today reported June trading volume statistics across its global business lines and provided guidance for selected revenue per contract/net revenue capture metrics for the second quarter of 2026. /jlne. ws/4f4POlsCboe Global Markets Announces Date of Second-Quarter 2026 Earnings Release and Conference CallCboeCboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, will announce its financial results for the second quarter of 2026 before the market opens on Friday, July 31, 2026. A conference call with remarks by the company’s senior management will begin at 7:30 a. m. CT (8:30 a. m. ET). /jlne. ws/4f0YHMDJune 2026 figures at EurexEurexEurex – Europe’s leading derivatives exchange – and, together with Eurex Clearing, one of the world’s leading central counterparties, reported a 32 percent increase in derivatives trading volume to 236. 6 million contracts in June 2026. Equity derivatives recorded particularly strong growth, with trading volume rising by 105 percent from 22. 3 million contracts in June 2025 to 45. 6 million contracts in June 2026. This exceptional increase was primarily driven by Equity TRFs. Index derivatives trading volume increased by 20 percent, from 60. 8 million to 72. 7 million contracts, while interest rate derivatives trading volume rose by 25 percent, to 117. 8 million contracts from 94. 5 million contracts during the same period last year. /jlne. ws/44fGJBiEuronext announces volumes for June 2026Euronext N. V. Euronext, the leading European capital market infrastructure, today announced trading volumes for June 2026. /jlne. ws/4flqOYqIndustry Leaders Convene to Advance Hong Kong’s FIC EcosystemHKEXHong Kong Exchanges and Clearing Limited (HKEX) today (Tuesday) joined the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC) and Bond Connect Company Limited (BCCL) in co-organising the Hong Kong FIC & Bond Connect Summit, welcoming a host of strategic initiatives to advance Hong Kong’s position as a leading global fixed-income and currency (FIC) centre. The flagship Summit brought together over 650 policymakers, regulators and senior executives from leading financial institutions to discuss the latest FIC developments in Hong Kong and the Chinese Mainland, and set the agenda on key opportunities that will propel the growth of Hong Kong’s FIC ecosystem. The Summit opened with keynote speeches from Pan Gongsheng, Governor of the People’s Bank of China (PBOC), and John Lee, Chief Executive of the HKSAR Government, where they announced a number of important measures to support the FIC market development. /jlne. ws/4p4vN2UHKEX, CIPS Sign MOU to Strengthen Hong Kong’s Offshore RMB Settlement InfrastructureHKEXHong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Tuesday) that it has signed a Memorandum of Understanding (MOU) with the CIPS Co. Ltd. , operator of China’s Cross-border Interbank Payment System (CIPS) to explore strategic cooperation in cross-border Renminbi (RMB) business and to support the long-term development of Hong Kong’s fixed income and currencies (FIC) ecosystem. Under the MOU, HKEX’s clearing subsidiary, OTC Clearing Hong Kong Limited (OTC Clear), intends to apply to become a direct participant of CIPS and plans to submit its application materials before the end of 2026. CIPS Co. Ltd. will provide guidance and training to support OTC Clear’s application. As a direct participant, OTC Clear will be able to conduct RMB fund settlements directly through CIPS, supporting more efficient cross-border RMB clearing and settlement for the OTC Clear market and its participants. /jlne. ws/4fm3ycFAppointment of HKEX Risk Management Committee (Statutory) MemberHKEXHong Kong Exchanges and Clearing Limited (HKEX) welcomes Archie Ng, the new Executive Director (Monetary Management) of the Hong Kong Monetary Authority (HKMA) to its Risk Management Committee (Statutory) (RMC). The appointment was in accordance with the Securities and Futures Ordinance. Archie Ng replaced Daryl Ho, the former HKMA’s Executive Director (Monetary Management), on the RMC. /jlne. ws/4vhVrTwICE Benchmark Administration Now Operates the LBMA Platinum and Palladium Prices and AuctionsICEIntercontinental Exchange, Inc. (NYSE:ICE), one of the world’s leading providers of financial market technology and data powering global capital markets, today announced that ICE Benchmark Administration Limited (IBA), a leading administrator of regulated benchmarks, now operates the London Bullion Market Association (LBMA) Platinum and Palladium Prices and the daily auctions which set these benchmark prices, adding to its role as the administrator of the LBMA Gold and Silver Prices and auctions. /jlne. ws/4fmavuiIntercontinental Exchange Reports June and Second Quarter 2026 StatisticsICEIntercontinental Exchange, Inc. (NYSE:ICE), one of the world’s leading providers of financial market technology and data powering global capital markets, today reported June 2026 trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at https://ir. theice. com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet. /jlne. ws/4gXRVtKFTSE Russell and the Stock Exchange of Thailand collaborate to launch the FTSE4Good Thailand IndexLSEGFTSE Russell, LSEG’s global index provider, and the Stock Exchange of Thailand announce today the launch of the FTSE4Good Thailand Index. The index focuses on investable securities in Thailand’s equity market demonstrating robust environmental, social and governance (ESG) standards. Derived from the FTSE SET All-Share Index comprising constituents from the FTSE SET Large, Mid and Small Cap indices, it applies a transparent, rules-based methodology incorporating exclusionary screening and ESG score thresholds. This supports inclusion of companies meeting globally recognised ESG criteria, aligned with the FTSE4Good Index Series. /jlne. ws/44eW2tWIFFIm celebrates 20 years of vaccine bonds at LuxSELuxSEOn Friday, the Luxembourg Stock Exchange (LuxSE) and the International Finance Facility for Immunisation (IFFIm) marked an important milestone for the UK-based organisation. Since launching its inaugural vaccine bond in 2006, IFFIm has helped mobilise more than USD 11 billion through 45 bond issuances in eight currencies, providing critical funding for immunisation programmes in lower-income countries through Gavi, the Vaccine Alliance. For two decades, LuxSE has served as the reference listing venue for IFFIm’s debt instruments. /jlne. ws/4eOPCYLMarketAxess Announces Trading Volume Statistics for June and Second Quarter 2026MarketAxessMarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced trading volume and preliminary variable transaction fees per million (“FPM”) for June 2026 and second quarter 2026 ended June 30, 2026. /jlne. ws/3SMPhNAMEXC June Highlights: SPACEX(PRE) Single-Round Subscriptions Break $100M For The First Time, Tokenized USMEXC BlogIn June, the top 10 new tokens by spot trading volume on MEXC recorded an average peak gain of approximately +2,552%. Meme remained a key entry point for trading attention, with ANSEM, JOTCHUA, and DOGEUS holding 3 seats; beyond that, AI and DeFi infrastructure took on the bulk of this month’s trading volume. AI showed a two-pronged layout. ARX and THREE addressed AI’s underlying compute privacy and application-layer autonomous agents respectively, while CS (DeFAI) further extended this month’s AI Agent momentum. O (a DeFi / DEX aggregator) and CAP (yield infrastructure for a verifiable synthetic dollar) entered the trading volume top 10, reflecting a sustained base of trading demand for DeFi infrastructure tokens; RE represented the RWA direction on the spot side this month. /jlne. ws/3R6ei5EMiami International Holdings Reports June 2026 Trading ResultsMIAXMiami International Holdings, Inc. (MIAX) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today reported June 2026 trading results for its U. S. exchange subsidiaries — MIAX®, MIAX Pearl®, MIAX Emerald® and MIAX Sapphire® (collectively, the MIAX Exchange Group), and MIAX Futures®. /jlne. ws/44gqLHaNasdaq Rings Opening Bell at the White House to Mark America 250 and the First Trading Day for Trump AccountsNasdaqNasdaq today rang the opening bell live from the White House, marking the celebration of 250 years of American independence — and the first trading day for Trump Accounts, a new initiative that expands access to long-term investing for American children. The White House ceremony brought together leaders from Nasdaq and the New York Stock Exchange (NYSE) alongside President Trump and senior government officials. It also marked the first joint opening bell ceremony between Nasdaq and the NYSE. /jlne. ws/4aEt4aDNodal Exchange achieves strong performance in power, gas and environmental futures in the first half of 2026Nodal ExchangeNodal Exchange today announced strong performance in power, environmental, and natural gas futures as of the end of June 2026. Power futures traded volume was 211 million MWh in June, up 28% from the same period in 2025. For the first half of 2026, traded volume was 1. 58 billion MWh. Nodal achieved 1. 506 billion MWh of open interest as of the end of June 2026 up 2% from 1. 481 billion MWh at the end of June 2025. This represents $176 billion of notional value based on both sides. Nodal Exchange remains the leading power futures exchange in North America with 56% U. S. power futures open interest. Total open interest in Nodal environmental products ended June 2026 with 493,977 lots, up 20% from 410,510 lots a year earlier. Environmental futures and options volume totaled 400,224 lots for the first half of 2026. Carbon futures and options posted volume of 106,822 lots in the first half of 2026 up 56% from a year earlier. /jlne. ws/4pa4F2vOCC June 2026 Monthly Volume DataOCC/jlne. ws/4pfL1SYHong Kong inaugurates trial operation of gold clearing and settlement systemEnoch Yiu, Julie Zhang and Wynna Wong – South China Morning PostChief Executive John Lee announces ‘milestone’ for city’s gold trading ecosystem at Hong Kong FIC & Bond Connect Summit. /jlne. ws/4wsO78nStrong First Half-Year 2026 for Capital Raising Across SIXSIX GroupBroad-based activity in equity and debt markets across Switzerland and Spain. SIX reports a strong first half of 2026, with sustained activity across equity and debt markets. A favorable market environment supported new listings, secondary capital raisings, and significant fixed income issuance across SIX Swiss Exchange and BME. /jlne. ws/4goH6koSGX Orb Awards to spotlight value creation and investor empowermentSGXSGX Group (Singapore Exchange) today launched its ninth annual SGX Orb Awards to recognise excellence in financial journalism and content – work that brings clarity to complex issues and offers balanced, engaging perspectives for the investing public. Each year, the SGX Orb Awards celebrates content that reflects evolving global markets and the priorities shaping Singapore’s capital markets as an international financial centre. The 2026 special category seeks to highlight original work that showcases how listed companies unlock enterprise value, while deepening understanding of shareholder value creation in the Singapore stock market. The digital category will focus on content that strengthens financial literacy and investor education by translating market developments into actionable insights for investors. /jlne. ws/4y7m3ZRTMX Group Consolidated Trading Statistics – June 2026TMXTMX Group Limited today announced June 2026 trading statistics for its marketplaces – Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange (Alpha), including Alpha-X & Alpha DRK, and Montreal Exchange (MX). /jlne. ws/4eNthL3Tradeweb Reports June 2026 Total Trading Volume of $69. 7 Trillion and Average Daily Volume of $3. 2 TrillionTradewebTradeweb Markets Inc. (Nasdaq: TW), a global leader in electronic trading across asset classes, today reported total trading volume for the month of June 2026 of $69. 7 trillion (tn). Average daily volume (“ADV”) for the month was $3. 2tn, an increase of 29. 5 percent (%) year-over-year (“YoY”). For the second quarter of 2026, total trading volume was $194. 2tn and ADV was $3. 0tn, an increase of 18. 2% YoY, with preliminary average variable fees per million dollars of volume traded of $2. 14[1] and total preliminary fixed fees for rates, credit, equities and money markets of $98. 6 million (mm)1. /jlne. ws/4p7B7T2FinTechN5X selects Vermiculus to power the first regulated energy derivatives clearinghouse in BrazilVermiculusVermiculus, an independent and leading provider of market infrastructure technology for clearing, trading, and CSD operations, has been selected by N5X, the future Brazilian energy derivatives clearing house, to deliver its cloud-native VeriClear clearing system. The solution will support N5X in establishing a new clearing house and operating as a central counterparty (CCP). This latest engagement further strengthens Vermiculus’ presence in Brazil and across South America, launching its fourth clearing, risk and settlement system in the region since 2022. /jlne. ws/3RmRf6QChina overtakes US in fintech patent filings to seize global leadShogo Furuta – Nikkei AsiaChinese banks and tech companies led the world in applications for financial technology patents over the last decade, surpassing the U. S. in a field that supports a wide range of financial services from lending and asset management to cryptocurrencies. /jlne. ws/4pcrUt0Etrading Software’s TME receives greenlight to deliver EU OTC derivatives consolidated tapeNatasha Cocksedge – The TRADEEtrading Software’s dedicated non-profit organisation, Transparent Markets Europe (TME), has been selected by the European Securities and Markets Authority (ESMA) to operate the EU’s OTC derivatives consolidated tape. The granting of the mandate comes months after the firm submitted its tender to become the consolidated tape provider (CTP) on 12 February 2026, following the launch of the tender process on 5 January. TME has confirmed that the tape will operate based off a cost-recovery model, and will function as a single-purpose market utility. /jlne. ws/3Tnj27JArtificial IntelligenceAI Productivity Gains Are Years Away, Deutsche Bank’s Reid SaysFabrice Obrist – BloombergArtificial intelligence is likely to enhance productivity signficantly but any such impact on economies may still be years away, Deutsche Bank analyst Jim Reid said. In an interview with Bloomberg Television, the economic historian who is global head of macro and thematic research at the German lender’s research institute said he’s “excited” about the technology’s promise, and predicted it will create jobs in the long run. /jlne. ws/4vVWkSSVirtual Assets Regulatory Authority CEO: Finance’s AI future moves at the speed of its slowest regulatorMatthew White – FortuneMost industries are passive recipients of artificial intelligence. Financial regulation is not. Regulators are both being transformed by AI and acting as the gatekeepers deciding how much of its gains reach the financial industry. That dual position will define the next decade of finance more than any single technology, firm or policy. It will separate the financial centres that lead from the ones that get bypassed. /jlne. ws/3Rn7lNNWill Someone Finally Blink in the AI Spending War? If Meta does rent out excess compute, it could signal that big tech has overbuiltDan Gallagher – The Wall Street JournalBig tech reining in its AI spending may be a tantalizing prospect for some. It would also be a costly one. That doesn’t seem in the cards yet. Second-quarter reports coming later this month will likely show another period of blowout AI investments. Wall Street analysts estimate that combined capital spending by Google, Microsoft, Amazon. com and Meta Platforms surged 74% year over year to hit $168 billion in the June-ending quarter, according to consensus estimates from Visible Alpha. /jlne. ws/4vhoOoSMicroprocessorsSK Hynix’s Planned $28 Billion Offering Brings Korean Market Fever to the U. S. Jack Pitcher – The Wall Street JournalThe Korean market frenzy is coming stateside. SK Hynix, a South Korean chip maker and the latest global company to surpass $1 trillion in market value, kicked off the process for a U. S. listing on Monday that seeks to raise $28 billion in fresh capital. /jlne. ws/4y5jgQUTokenizationJapan’s blockchain-based security tokens to open to foreign investorsHaruki Kitagawa – Nikkei AsiaSBI Securities and Daiwa Securities are set to launch a jointly built settlement system that will allow foreign investors to invest in Japanese businesses and real estate via blockchain-based security tokens, sources told Nikkei. /jlne. ws/4y8ZunEStock ownership will be ‘critically important’ for tokenized assets: NYSE pres. Yahoo Finance Video – Yahoo FinanceNew York Stock Exchange (NYSE) president Lynn Martin joins Yahoo Finance Senior Reporter Jennifer Schonberger outside the White House to discuss what tokenized securities may bring to the table for markets and investors. /jlne. ws/3SMZedPConnectivity/Data CentersBig Tech data centers are driving up power bills at America’s Rust Belt factoriesLaila Kearney – ReutersFor years, electricity costs for the Belden Brick Company in Sugarcreek, Ohio, had been relatively stable. Last year, they surged by 90% — largely because of rising power demand from data centers in the region. The 141-year-old brick manufacturer, whose products can be found in iconic buildings including the Texas Alamo and Notre Dame University, is seeing power bills rise mainly from a monthly capacity charge, which recently jumped from $1,600 a month to $12,000. /jlne. ws/4vRp8vKPaymentsExclusive | JPMorgan, Bank of America and Other Banks Explore a Deal to Shake Up Payments WorldBen Glickman and Gina Heeb – The Wall Street JournalSome of the largest banks in the country have been exploring an acquisition that could allow them to get around one of the laws they hate most: the limits on fees they earn on debit-card transactions. When Capital One Financial bought Discover Financial in a $50. 6 billion deal, it got a network that cut out the need for a middleman in card transactions and allowed it to deal more directly with merchants. /jlne. ws/4eP31jxCRYPTOCoinbase secures UK investment services license to add derivatives and equities tradingBrian Danga – The BlockCoinbase Global Inc. CCOIN+2. 05% has received authorization from the UK Financial Conduct Authority to provide investment services, expanding its regulatory permissions beyond crypto. The authorization will allow institutional and advanced traders to access crypto, equity, and commodity perpetual futures, while retail users will be able to trade equities on Coinbase for the first time, the exchange said in a statement on Tuesday. /jlne. ws/4wxZkVpBonkDAO loses $20 million following ‘malicious governance proposal’ attackDaniel Kuhn – The BlockBonkDAO appears to be the latest victim of a crypto attack, according to Bonk Inu’s official X page. “BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BONK tokens being drained from the BonkDAO treasury,” the X account wrote on Monday. /jlne. ws/44QzGPEJudge revives fraud claim against Barry Silbert, DCG in Genesis Yield lawsuitKyle Baird – The BlockA federal judge revived a fraud claim against Barry Silbert, Digital Currency Group and other defendants in an investor lawsuit over the failed Genesis Yield program, while allowing the case’s federal securities claims to continue moving forward. The ruling, filed last Thursday in the U. S. District Court for the District of Connecticut, revises an earlier February decision after plaintiffs argued the court had authority under the Class Action Fairness Act to consider their state-law claims. /jlne. ws/3QVCpUQA Dangerous Threat Faces Bitcoin, XRP, ETH and SOL, Alphractal CEO WarnsLuis Blanco – BeInCryptoJoao Wedson, founder and CEO of Alphractal, issued a sharp warning on July 7. His diagnosis is direct: unliquidated long positions now dominate Bitcoin, Ethereum (ETH), XRP, and Solana (SOL). Here is what the threat means, how it could hit prices, and what other analysts project next. /jlne. ws/4xZB7sqA Crypto Trade Group Just Joined The Fight To Stop Someone From Claiming Satoshi-Linked BitcoinPrabhjote Gill – Yahoo FinanceA second amicus brief has been filed in New York Supreme Court opposing “Noah Doe’s” bid to claim ownership over Satoshi Nakamoto’s 3. 8 million dormant Bitcoin (BTC) holdings as “abandoned property. ” The latest brief was filed by the blockchain trade association Digital Chamber, with support from consulting firm CahillNXT and Brown Rudnick attorney Stephen Palley. It marks the second formal legal challenge to the plaintiffs’ theory in the case over the Bitcoin’s creators wallet. At Bitcoin’s current price of around $63,200, the stash is worth over $240 billion. /jlne. ws/4bvHie6EthereumVitalik Buterin proposes ‘Extremely Lean’ Ethereum, shrinking the chain to near-zero state with ZK proofsDaniel Kuhn – The BlockVitalik Buterin has outlined a technical proposal to radically shrink Ethereum’s consensus layer by shifting much of the state management burden to validators using zero-knowledge proofs, as part of a broader push toward a more efficient “Lean Ethereum. ” In a recent Ethereum Research forum post titled “The Extremely Lean Chain,” Buterin detailed how recursive STARK proofs could minimize onchain data while supporting upgrades like single-slot finality and quantum-resistant cryptography. /jlne. ws/4h0Jv4NStablecoinsTether’s Former CIO Plans Sale of Stake in Stablecoin GiantRyan Weeks and Liana Baker – BloombergRichard Heathcote, who until earlier this year oversaw stablecoin giant Tether Holdings SA’s investment portfolio, is planning to sell a small stake in the company, according to people familiar with the matter. Heathcote is working with PJT Partners to sell part of his 1. 26% holding of Tether, according to the people, who were not authorized to speak publicly. Tether announced in March that Heathcote was stepping down as chief investment officer to take an advisory position. /jlne. ws/4wto3tKPoliticsEurope Races to Plug Security Holes After U. S. NATO PullbackDaniel Michaels, Michael R. Gordon and Robbie Gramer – The Wall Street JournalAmerica’s allies are rushing to find workarounds and replacements for the bombers, warships and other forces the U. S. recently told other NATO members they could no longer rely on in a crisis. But filling all the holes left by the American pullback—including midair refuelers that are in short supply and long-range strategic bombers that only the U. S. has—is proving challenging for the military alliance and risks leaving its European members, in particular, exposed to rising threats from Russia. /jlne. ws/4va0chDGov. JB Pritzker signs first-in-nation Illinois law requiring third-party safety audits for AI giantsOlivia Olander – Chicago TribuneIllinois will be the first state to require independent audits of large artificial intelligence developers’ safety practices under a new law Gov. JB Pritzker signed Monday. The measure was part of a broader package of bills the Democratic-controlled General Assembly pushed to fill what lawmakers view as a void left by federal inaction on AI regulation, and its enactment further strengthens state lawmakers’ case that Illinois can be a leader in regulating the emerging technology. “Where the federal government is unwilling to step up, states must venture once more unto the breach,” Pritzker said at a news conference in Chicago. “History has shown time and again that thoughtful regulation is a requirement for sustainable innovation when our economic and national security is at stake. ”/jlne. ws/4vM4D3lShapiro: Trump ‘corruption has been enabled’ by Supreme CourtFinya Swai – The Hill via Yahoo NewsPennsylvania Gov. Josh Shapiro (D) on Friday accused the Supreme Court of enabling President Trump’s massive profits while in office, slamming its 2024 presidential immunity ruling as “one of its worst decisions. ” In an interview with MeidasTouch, Shapiro pointed to the president’s latest financial disclosure report for 2025, released earlier this week, revealing Trump made more than $2 billion in his first year back in office. The Pennsylvania Democrat argued that the earnings while serving as president were made possible by the 6-3 court ruling granting presidents sweeping protections from criminal prosecution for actions taken while in office. /jlne. ws/44Pm8nyU. S. AdministrationCrypto, red cards and Trump’s corruption problemAaron Blake, CNN – Yahoo NewsLast week, President Donald Trump’s financial disclosures showed he earned more than $2 billion in 2025 — including an astonishing more than $1 billion from his family’s entry into the largely unregulated world of cryptocurrency. The day after that information became public, Trump began flying on a new $400 million Air Force One that was gifted to his administration by Qatar. Then on Sunday, we learned that FIFA had set aside a one-game World Cup suspension for US soccer star Folarin Balogun after Trump got involved. It was a highly unusual intervention from a head of state that is now causing an international incident amid European allegations of favoritism and possible corruption. (The US plays Belgium on Monday night. )/jlne. ws/4aD4AOVU. S. CongressIs Senator Gillibrand Being Bribed by the Crypto Industry and a Hypocrite on Trump Corruption?Better MarketsDennis Kelleher, Co-Founder, President and CEO of Better Markets, issued the following statement in response to reporting by Politico that “Crypto billionaire among dozens to back startup from Gillibrand’s son. ” “At 3:39 PM on the eve of a long July 4th weekend when Congress was gone, and no one was paying attention to the news, it was reported that a ‘Crypto billionaire among dozens to back startup from [Democratic Sen. Kristen] Gillibrand’s [22-year-old] son. ’ As the story put it, ‘Democratic megadonor Chris Larsen has backed Sen. Kirsten Gillibrand’s political campaigns several times over the years. Now, he’s got a new investment: her 22-year-old son’s startup. ’ “The 22-year-old’s ‘new financial exchange venture’ startup is being backed by ‘Larsen, a cryptocurrency billionaire,’ and ‘nearly three dozen Wall Street luminaries, venture capitalists and recent Stanford University alumni. ’ His spokesperson called the investors ‘longtime friends and mentors of’ the 22-year-old. /jlne. ws/4yfGsMzExclusive | Democratic Lawmakers Probe Lutnick’s Possible Ties to Cantor Fitzgerald DealBen Glickman – The Wall Street JournalA group of Democratic lawmakers is seeking information from Cantor Fitzgerald about how the firm may have benefited on a deal from its ties with Commerce Secretary Howard Lutnick. In a letter to Cantor Fitzgerald Chairman Brandon Lutnick, the commerce secretary’s son, the lawmakers raised concerns about potential violations of conflict-of-interest laws related to the U. S. government’s $1. 6 billion investment in USA Rare Earth USAR -9. 53%decrease; red down pointing triangle, according to a copy of the letter viewed by The Wall Street Journal. /jlne. ws/3QFNwBdTrade_War and TariffsUSMCA Uncertainty Is Bad for BusinessDavid Hebert – The Wall Street Journal (opinion)The U. S. won’t renew the U. S. -Mexico-Canada Agreement in its current form, U. S. Trade Representative Jamieson Greer said on July 1. The decision leaves North America’s trading rules uncertain. Canada and Mexico wanted a 16-year extension of the pact. Instead, the agreement now enters a cycle of annual reviews, with a hard expiration date of 2036 if the three countries never reach a resolution. The main value of a trade agreement isn’t that it lowers tariffs but that it eliminates doubt. USMCA’s greatest achievement was never a slate of tariff rates, exceptions and rules. It was the confidence that the rules would stay stable long enough for companies to make plans and act on them. A parts supplier in Michigan could sign a 10-year lease and order supplies because the terms governing what crossed the border were set. /jlne. ws/4b81yCsCanadaCarney and Merz Lay Foundations for a New Transatlantic AllianceArne Delfs – BloombergA multi-billion dollar deal to build as many as 12 new submarines for Canada promises a badly needed boost for Germany’s ailing economy. It also represents a down payment on the new transatlantic relationship. On Monday, Canadian Prime Minister Mark Carney announced that he’s awarding the submarine contract to a German-Norwegian bid led by Thyssenkrupp Marine Systems as he prepared to travel to a summit of NATO leaders in Ankara. /jlne. ws/44UQTaBRegulation & EnforcementESMA confirms some prediction markets contracts fall under European financial regulationKyle Goldsmith – iGBThe European Securities and Markets Authority (ESMA) has warned that prediction markets with binary yes-or-no outcomes and fixed payouts qualify as restricted financial instruments. In a statement issued on Friday, ESMA noted the increased offering of event contracts and clarified that such products may fall under existing restrictions on binary options. /jlne. ws/3Tncg1NChina Watchdog Monitoring US Lawsuit Over Insider Trading ClaimsBloombergChina’s securities watchdog said it is paying close attention to a legal case brought by Susquehanna International Group against alleged insider traders, after the US market maker said regulatory officials may have been involved in the trades. The China Securities Regulatory Commission stopped short of signaling any domestic probe into Susquehanna’s claims that insider traders profited from bearish bets on brokers Futu Holdings Ltd. and Up Fintech Holding Ltd. ahead of a regulatory probe in May. But the CSRC said it would pay close attention and “carry out the relevant work” in line with circumstances. /jlne. ws/4p4sCbrSEC Drops MetaMask Case Against ConsenSys With No Fine or WrongdoingAhmed Barakat – CryptonewsThe SEC has closed its enforcement investigation into ConsenSys over MetaMask Swaps and MetaMask Staking, with no fine and no admission of wrongdoing, a result that directly challenges the regulatory theory that non-custodial wallet interfaces constitute unregistered brokerage operations. /jlne. ws/4vfzi84SEC Names Paul Knight as Chief Operating OfficerSECThe Securities and Exchange Commission today announced that Paul Knight has been named as the agency’s Chief Operating Officer (COO). As COO, Mr. Knight will oversee the SEC’s operational and administrative functions, including the agency’s Office of Human Resources; Office of Acquisitions; Office of Financial Management; EDGAR Business Office; Office of the Chief Data Officer; Office of the Chief Risk Officer, and Office of Support Operations, which includes the agency’s Freedom of Information Act, Records Management, and Facilities Management functions. /jlne. ws/4fjbL1nSEC Obtains Final Consent Judgment as to Las Vegas Financial Education Company and Three Las Vegas Residents for Allegedly Acting as Unregistered BrokersSECOn June 29, 2026, the United States District Court for the District of Nevada entered a final consent judgment against Las Vegas-based financial education company Quest Education L. L. C. , its principal and control person Daniel Blue, and former employees David Christopher White and Keitoh Jordan Spears, for allegedly acting as unregistered securities brokers and selling unregistered securities. /jlne. ws/4vL52mBFormer bankrupt coconut water CEO acquitted of ASIC charge on appeal, withdraws conviction appeal on two other chargesASICFormer CEO and director of FAL Healthy Beverages Pty Ltd, Tim Xenos, also known as Efthymios Xenos, of Peakhurst, NSW, has successfully appealed one of three criminal charges for which he had previously been convicted and sentenced. On 24 April 2026, an appeal against Mr Xenos’ earlier conviction on a charge of using his position dishonestly with the intention of gaining an advantage for himself was allowed and as a result Mr Xenos was acquitted of that charge. /jlne. ws/44OedXwASIC review provides insights into voluntary administration and deed of company arrangement outcomesASICASIC has, for the first time, published detailed data and insights into how voluntary administrations (VAs) and deeds of company arrangement (DOCAs) are operating in practice, providing a clearer picture of when the processes are being used, the outcomes being produced, and the types of companies most likely to benefit. The Report 836 Review of voluntary administration and deed of company arrangement process: 2021-25 (REP 836) looked at 3,528 grouped appointments (including 5,020 companies) entering VA between 1 July 2021 and 30 June 2025. /jlne. ws/4vKIIcQFormer WA director Joanne Pellew convicted of Corporations Act offences following ASIC investigationASICJoanne Jennifer Pellew of Como, Western Australia, has been convicted of three offences of dishonestly using her position as a director and one offence of managing a corporation when disqualified, following an ASIC investigation. On 2 July 2026, a jury of the District Court of Western Australia found Ms Pellew guilty of three counts of dishonestly using her position as a director contrary to s184(2)(a) and one count of managing corporations while disqualified contrary to s206A(1)(a) of the Corporations Act 2001 (Cth). Each offence carries a maximum penalty of five years imprisonment. /jlne. ws/4eO2QF5ESMA publishes preliminary findings on the Active Account Requirement and the first Annual Report of the Joint Monitoring MechanismESMAThe European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published the Interim Report of the Effectiveness of the Active Account Requirement and the First Annual Report of the Joint Monitoring Mechanism. Preliminary findings on the Active Account Requirement Based on available data, analytics and industry feedback, the Interim Report provides preliminary findings on the Active Account Requirement (AAR) implementation during 2025 and early 2026. /jlne. ws/4aEIxazThe ESAs support ESRB warning on systemic cyber risks from frontier AI modelsESMAThe European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) welcome and support today’s warning from European Systemic Risk Board (ESRB) on the systemic cyber risks posed by frontier AI models. Recent advances have significantly enhanced the ability of frontier AI models to identify and exploit high-severity vulnerabilities in IT systems within very short timeframes. While the EU’s regulatory framework – including DORA and the AI Act – provides a solid foundation for managing cyber and AI-related risks, the speed and scale of these tools raise concerns that AI-enabled cyber-attacks could undermine the operational resilience of financial entities. /jlne. ws/4p6Bi1dEldens Finance Limited enters administrationFCAOn Monday 6 July 2026, Eldens Finance Limited (Eldens) was placed into administration. Antony Batty and Hugh Jesseman of Antony Batty & Company Ltd were appointed as Joint Administrators. Eldens provided pawnbroking loans, primarily secured against high-value and luxury assets. The Joint Administrators are responsible for winding down the firm in an orderly way in the interests of its creditors. On 19 June 2026, Eldens agreed to enter into a voluntary requirement to restrict its ability to deal and dispose of assets and its permissions to carry out regulatory activities. More information about these requirements can be found on the FS Register. /jlne. ws/4vM3w3FBanks told to improve access to basic accountsFCAPeople struggling should find it easier to access basic bank accounts, after nine banks committed to improving widespread poor practice identified by the FCA. /jlne. ws/4h0HrtzMAS Consults on Protected Cell Company Framework to Support Growth of Alternative Risk Transfer Solutions in InsuranceMASThe Monetary Authority of Singapore (MAS) today issued a consultation paper proposing to establish a legislative framework for a new Protected Cell Company (PCC) corporate structure. The proposed framework aims to support the growth of alternative risk transfer solutions and deepen Singapore’s role as a risk management hub. The consultation paper follows the announcement on the PCC framework by Mr Gan Kim Yong, Deputy Prime Minister (DPM) and Minister for Trade and Industry and Chairman, MAS, at the Association of Banks in Singapore (ABS) Annual Dinner on 25 June 2026. /jlne. ws/44UTBwNWritten reply to Parliamentary Question on permitting some registered PayNow retail users to adopt nicknames as display namesMASMs Joan Pereira: To ask the Prime Minister and Minister for Finance whether the Government will consider working with the Association of Banks in Singapore to permit registered PayNow retail users to adopt nicknames for their display names on a case-by-case basis, especially where such users have names that may be easily guessed by scammers from the automated display names generated under PayNow’s new policy. /jlne. ws/4prmFpvJoint announcement of the Hong Kong FIC Trading PlatformSecurities and Futures CommissionThe People’s Bank of China (PBOC), the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) jointly welcomed the collaboration between the China Foreign Exchange Trade System (CFETS) and Hong Kong Exchanges and Clearing Limited (HKEX) to develop an electronic fixed income and currency trading platform (the FIC Trading Platform) in Hong Kong. This initiative will further strengthen the financial cooperation between Hong Kong and the Chinese Mainland, and reinforce Hong Kong’s position as an international financial centre and an offshore RMB business hub. /jlne. ws/4yavN5DNew speech by Kelvin Wong: Welcome remarks at the Hong Kong FIC & Bond Connect SummitSecurities and Futures CommissionThe welcome remarks titled “Completing the Rainbow for the Next Stage of Hong Kong’s FIC Development” delivered by Dr Kelvin Wong at the Hong Kong FIC & Bond Connect Summit are now posted on the SFC website. /jlne. ws/4pfOK2UNew synopsis by Julia Leung: Panel remarks at the Hong Kong FIC & Bond Connect SummitSecurities and Futures CommissionMs Julia Leung spoke in a panel discussion at the Hong Kong FIC & Bond Connect Summit today. A synopsis of her remarks titled “Advancing the Transformation of Hong Kong’s FIC Market” was posted on the SFC website. /jlne. ws/4eQJXS0SFC welcomes new initiatives to advance Hong Kong’s fixed income and currency marketsSecurities and Futures CommissionThe Securities and Futures Commission (SFC) welcomes new measures announced by the People’s Bank of China (PBoC) today to support the further development of Hong Kong’s fixed income and currency (FIC) markets. Two key initiatives in relation to the Roadmap for the Development of Fixed Income and Currency Markets (FIC Roadmap), jointly launched by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) in 2025, were unveiled at the Hong Kong FIC & Bond Connect Summit (Summit) (Note 1) today. /jlne. ws/4vfE4T0Investing & TradingOPEC+ to pump more oil as market fears shift from shortage to glutMelissa Hancock – FortuneOPEC+ has agreed to raise oil production by a further 188,000 barrels per day from August, marking the fifth consecutive monthly increase in output quotas as the group continues to unwind its earlier production cuts. That brings the total increase in output quotas to around 940,000 barrels a day since the war began. The move comes as oil prices continue to ease amid Gulf states ramping up production and the reopening of the Strait of Hormuz calming fears of major supply disruptions. Brent crude is now trading around $72 per barrel, down from its April peak of $126 per barrel and close to pre-conflict levels. /jlne. ws/4yaiJ05A Once-Great Copper Miner Faces a Reckoning Just as AI Power Demand SoarsJames Attwood – BloombergAs global demand for copper surges, one of the world’s biggest miners finds itself in a precarious state. Chile’s state-owned Codelco, long the backbone of the country’s mining industry and a crucial source of government revenue, is struggling under $25 billion of debt and its lowest output in 28 years. It’s also contending with a series of controversies, including a fatal accident and probes into inflated production figures. Those difficulties have prompted concern that Codelco’s model is failing to capture the benefits of near-record copper prices as artificial intelligence and the energy transition boost consumption of the metal. They’ve also sparked a debate that would have been almost unthinkable just a few years ago: Does Codelco need to shelve its growth ambitions and give a larger role to private capital?/jlne. ws/4y3U6SVTrump Accounts could be a boon for the stock market and retail investors: StrategistBrian Sozzi – Yahoo FinanceInvestment accounts for the next generation will help power the stock market. “I think [Trump Accounts] are positive. About 35% of the S&P 500 index is tech names. So basically you’re talking about now a permanent bid of buyers being layered on into the S&P 500 and into, therefore, tech. So I think it’s good for markets. I think it’s good for retail [investors],” said EMJ Capital founder Eric Jackson on Yahoo Finance’s Opening Bid. /jlne. ws/44UGY4RMag 7 Loses Market Swagger as AI Trade Spreads Beyond BehemothsRyan Vlastelica – BloombergFor years, the Magnificent Seven tech giants commanded investors’ attention, dominating the S&P 500 Index and determining which way the overall stock market was headed. Those days are over. While the technology-heavy Nasdaq 100 Index is up almost 18% in 2026 and the S&P 500 has climbed 10%, an index of the Mag 7 has gained just 1. 1%. The artificial intelligence trade that made a market force out of those tech behemoths — Nvidia Corp. , Alphabet Inc. , Apple Inc. , Microsoft Corp. , Amazon. com Inc. , Meta Platforms Inc. and Tesla Inc. — is still on. But it has changed. /jlne. ws/3RiTTdQDe Beers Makes Deep Diamond Price Cuts for Shrinking Buyers ClubThomas Biesheuvel – BloombergDe Beers has made some of the deepest ever cuts to its official diamond prices, potentially signaling an end to its years-long campaign to hold them well above the market rate. /jlne. ws/4gZFJJ1S&P Global Provides Pro Forma and Recast Financial Results and Updated Segment InformationS&P Global – Cision PR NewswireS&P Global (NYSE: SPGI) is providing recast financial results, excluding the contribution from the Mobility division (“Mobility”). In a previous release dated July 1, 2026, the Company announced the successful completion of the spin of Mobility into an independent, public company – Mobility Global (NYSE: MBGL). /jlne. ws/4wpnssZBOE Proposes Easing Some Capital Rules Despite Mounting RisksLaura Noonan – Bloomberg/jlne. ws/44kUf6GESGMcKinsey Global Institute: Climate planning has prioritized floods. Heat demands equal attentionSylvain Johansson, Mekala Krishnan, Kanmani Chockalingam and Annabel Farr – FortuneSummer in the Northern Hemisphere has gotten off to a very hot start. Europe has baked under record-breaking temperatures, while a “heat dome” blankets much of the United States. Many countries have reported heat-related deaths, roads melted in Germany, and utilities in the United States are asking customers to set their air conditioning at higher temperatures and adding crews to cope with outages as demand for cooling soared. /jlne. ws/4fneZ3TA Fertilizer Made From Human Urine Is Coming to the USKorin Miller – Yahoo LifeNitrogen fertilizer is a cornerstone of modern agriculture, but the rising costs of key ingredients, including nitrogen itself, have made it more expensive than ever. One company believes it has found a more sustainable, affordable way to make fertilizer — by recycling human urine. Aurin is a universal fertilizer from Swiss company VunaNexus made with processed human urine. It originated as a South African research initiative launched more than a decade ago to develop an affordable sanitation system that could transform human urine into fertilizer. /jlne. ws/4aD4FSJBanks’ Exposure to Heat-Related Losses Faces Scrutiny in EUFrances Schwartzkopff – BloombergEurope’s bank watchdog will look at how exposed lenders are to heat-related risks, as temperature records keep getting broken. The European Banking Authority is currently developing ways to measure the financial impact of extreme heat, a spokesperson for the Paris-based authority said. The process may result in the inclusion of heat as a separate category in routine stress tests that gauge banks’ ability to withstand losses, the person said. /jlne. ws/4p8ssA0Renewables Hit Record Share of India Power Mix as Coal FlatlinesRajesh Kumar Singh – BloombergThe share of renewable energy in India’s electricity mix rose to a record high this summer, highlighting the increasing importance of solar and wind in the world’s third-largest emitter. Renewables accounted for almost 19% of electricity production in the quarter through June, Bloomberg calculations based on power ministry data show, when scorching heat waves resulted in a surge in the country’s peak demand. Coal’s contribution remained flat at nearly 70%. /jlne. ws/4wuN3kvNew Jersey’s Hell Week Is a Warning for EveryoneMark Gongloff – BloombergHurricane Sandy was a generational disaster for New Jersey but also a relic of a bygone era when epochal punishment by nature was reserved for catastrophes big enough to get names and presidential helicopter tours. Now all it takes is a heat wave and some thunderstorms to hobble the Garden State for days. That’s partly because a hotter planet has juiced ordinary summer heat waves and thunderstorms to destructive new extremes. It’s also because infrastructure is still optimized for those halcyon days of 2012, or really 1912, when natural disasters were still marginal risks and not base cases. And New Jersey is not alone. Its still-unfolding hell week offers lessons reaching far beyond the Hudson and Delaware rivers. /jlne. ws/4f3yI7kBANKS BROKERS MANAGED FUNDSBlackRock to launch Nasdaq-100 ETF, challenging Invesco’s dominance as AI rally boosts demandReuters – ReutersBlackRock (BLK. N) said on Tuesday it would launch an exchange-traded fund tracking the technology-heavy Nasdaq-100 index (. NDX), as it seeks to tap surging investor demand for exposure to ‌the AI-driven stock market rally. The iShares Nasdaq 100 ETF, offered by the world’s largest asset manager, will track the flagship U. S. index and start trading under the ticker on Thursday, just months after the Nasdaq (NDAQ. O) revised its criteria to accelerate the inclusion of newly listed companies ⁠such as SpaceX (SPCX. O). /jlne. ws/4gZzTHBKuramo Investors Transfer $458 Million to Ex-Bridgewater PartnerAnthony Osae-Brown and Loni Prinsloo – BloombergA group of global investors in Kuramo Capital Management LLC has shifted the management of $458 million in assets to an investment firm led by former Bridgewater Associates LP partner Richard Okello, as US endowments and foundations grapple with a liquidity crunch. The investors transferred the assets into a continuation vehicle managed by Okello’s Sango Capital from two African funds, which had “exceeded their fund life,” and a 2019 vintage fund, Kuramo Capital Chief Executive Officer Wale Adeosun said. /jlne. ws/3QToZZrJPMorgan Relaxes Return-to-Office Rules During London Heat WaveNil Codina Martinez, Olivia Rudgard, Claudia Cohen and Arno Schuetze – BloombergJPMorgan Chase & Co. has relaxed some of the finance industry’s strictest return-to-office requirements for its London staff, after the UK capital sweltered through record-high temperatures. Last month, the bank concluded that the heat wave was serious enough to merit having staff talk through work-from-home arrangements with their managers, according to a person familiar with the situation who asked not to be identified discussing internal matters. /jlne. ws/4aBlFZBHSBC Retreats From Riskier Private Credit Lending, FT SaysJonas O Bergman – BloombergHSBC Holdings Plc is halting lending to riskier private credit funds, after high-profile corporate bankruptcies exposed shaky underwriting standards in industry, the Financial Times reported. Europe’s largest bank informed clients in recent weeks that it will not renew certain credit facilities or provide back leverage, the FT said, citing people familiar with the matter. HSBC determined that returns from specific private credit funds no longer justified the underlying risks, according to the newspaper. Moving forward, the London-based lender will focus its capital on less risky funds. /jlne. ws/4f4vq3KCiti to join ‘club’ of clearing banks controlling London gold market; Bank to join JPMorgan, UBS, ICBC and HSBC as first new clearing member for world’s largest physical gold market in a decadeLeslie Hook – Financial TimesCitigroup is set to join the “club” of banks that control London’s $200bn-a-day physical bullion market, as the US bank expands its reach into precious metals at a time of huge volatility for gold and silver. The bank is the first new clearing member to join the world’s biggest gold market in a decade, and will bring the total number of clearing banks approved by London Precious Metals Clearing Ltd up to five. /jlne. ws/4vSuN4HBanks told to improve access to basic accountsFCAPeople struggling should find it easier to access basic bank accounts, after nine banks committed to improving widespread poor practice identified by the FCA. Nine of the biggest UK banks and building societies are legally mandated to offer basic bank accounts. They exist to serve people who may not otherwise be able to access standard current accounts – providing access to essential services with no fees and no overdraft. A mystery shopping exercise by the FCA found a third of experiences with basic bank accounts rated as poor or very poor. The mystery shop revealed that the bank account providers were not consistently offering these accounts to customers who could benefit from them. This included people facing financial hardship or without standard identification, and especially those with no fixed address. The firms often failed to mention basic bank accounts at all and pushed customers in vulnerable circumstances towards online applications unsuitable for their needs. /jlne. ws/4h0HrtzWhy Index Funds Haven’t Boosted SpaceXAndrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Niko Gallogly and Brian O’Keefe – The New York TimesShares in SpaceX are falling in premarket trading, extending a weekslong slump. It comes even though Elon Musk’s rocket and artificial intelligence company is officially joining the Nasdaq 100 index of tech heavyweights on Tuesday. The milestone — achieved via a new fast-track rule — has automatically set off a buying spree by index funds. /jlne. ws/4veILwsPrivate EquityPrivate Equity for Everyone Is Getting Out of HandAllison Schrager – Bloomberg OpinionPrivate equity may be our No. 1 economic boogeyman. It is blamed for rising real estate prices, poor medical care, and ruining many of the businesses we used to love. And yet it is also being mainstreamed as an asset class, with most everyone seemingly wanting a piece of the $7 trillion or so market that touches many of the goods and services we consume. The lure only grew stronger during the initial public offering of SpaceX, which valued the company at $1. 8 trillion and handed unimaginable wealth to private equity investors. /jlne. ws/4vXaqDyKKR’s Private Credit Clients Slow Down Their Redemption RequestsOlivia Fishlow – BloombergInvestors in a KKR & Co. retail private credit fund got back all of their requested cash in the second quarter, a sign that individual investors’ skittishness over the asset class may be easing. The fund, KKR FS Income Trust, received repurchase requests totaling 1. 65% of outstanding shares, well below the 5% limit, according to a Monday regulatory filing, which said the requests were met in full. Investors in the fund known as K-FIT tried to redeem 6. 3% of shares in the prior quarter, causing the fund to prorate requests at about 80%. /jlne. ws/44ciggfLondon IPO candidate CFC hires ex-Direct Line chief Adam Winslow as new boss; Private equity-backed business is exploring strategic options including a potential listing on the LSELee Harris – Financial TimesInsurance group CFC has appointed former Aviva executive Adam Winslow as chief executive as the private equity-backed business explores strategic options including a potential listing on the London Stock Exchange. Winslow, the former boss of Direct Line who left the motor insurer last year after it was acquired by Aviva, joins CFC as it explores options including an initial public offering that could value it at more than £5bn, the FT previously reported. It could also seek to list on another exchange. /jlne. ws/44OpvuVWORK MGMTWhy the best leaders burn out decades before they’re supposed to retireAnthony Lopopolo – QuartzLondon Business School professor Lynda Gratton was advising a global company’s leadership team when its chief executive stopped mid-conversation. “We have a problem,” he told the room. “Burnout is becoming a real issue. ” The employees struggling the most weren’t the newest hires or ones nearing retirement. They were mostly in their mid-40s to early 50s. Many were the company’s strongest performers, already being groomed to run the place, but instead of advancing, they were losing steam. The company watched its leadership pipeline stall at exactly the moment it needed those people most. /jlne. ws/4gm6M0ZHow to stop AI becoming the enemy of younger workers; ‘Seniority-biased’ hiring patterns in South Korea carry a lesson for the rest of the worldSarah O’Connor – Financial TimesViewed from afar, South Korea looks like a clear winner from the rise of AI. Some of its biggest companies are booming because of the global appetite for chips and data centres. Samsung Electronics and SK Hynix, its leading chipmakers, have both topped $1tn in market capitalisation. And because these companies have powerful unions, their workers are securing a share of the surge in profits. In May, for example, Samsung and its union came to a profit-sharing agreement that is expected to award employees in the memory chip division an average bonus of nearly $400,000. Little wonder that South Korea is one of the few large countries where optimists about AI outnumber pessimists, according to polling by the Pew Research Center. /jlne. ws/4vVmzbWRise of non-compete clauses blamed for harming productivity; Increase recorded by OECD, with restrictions extending to lower-paid roles despite moves to curb clauses in some countriesDelphine Strauss – Financial TimesCompanies’ rising use of non-compete clauses is dragging down productivity in rich economies, according to new research that found about a third of private sector employees restricted from joining a rival. About 30 per cent of employers surveyed by the OECD said they had increased their use of the clauses in the past five years, with a fifth of employees “definitely” covered by the clauses and a further 10 per cent “probably” affected. /jlne. ws/4glMJjaRegionsChina Buys More US Soybeans as Key Agricultural Trade Ramps UpHallie Gu and Alfred Cang – BloombergChina has purchased more soybeans from the US, according to people familiar with the matter, as the key agricultural trade gains momentum following a summit between the leaders of the two nations in May. State-owned firm Cofco has booked at least six cargoes of US soybeans for loading between September and October, said the people, who asked not be named as they are not authorized to speak to the media. The US Department of Agriculture said last month that Chinese buyers had already committed to buying 200,000 tons of American beans. /jlne. ws/4vPOrhwHow to manage the next emerging markets capital flows boom; Foreign exchange reserves are not the only way to limit the build-up of speculative, short-term liabilitiesDavid Lubin – Financial TimesWith the Iran war over, it’s possible to imagine considerable amounts of additional capital moving towards emerging economies. A chunk of this will arrive in the form of “hot money”: speculative, easily reversible flows into short-dated notes traded in developing countries’ capital markets. While there’s certainly a role for speculative capital flows in the international financial system, their excesses are well known: the two decades of repeated financial crises that emerging economies suffered in the 1980s and 1990s, and the more recent “taper tantrum” of 2013, testify to the havoc that the resulting volatility can unleash. /jlne. ws/4eMFVKiHow heatwaves are burning a hole in London’s economyLucy Tobin – Evening StandardAs temperatures cool to more normal summer days and memories of nights swapping the duvet for a freezer-fresh towel fade, economists are counting up the £440 million cost of preparing London for a future of heatwaves. The extreme heat and humidity cut workers’ productivity by reducing mental and physical performance, according to Oxford Economics analysis. It said the latest heatwave would cut the UK’s labour productivity growth by 1. 5 per cent, with the most-struck sectors including construction, agriculture, manufacturing, retail and hospitality. /jlne. ws/44kJTnkThis deep-level Tube line is finally getting air con after 120 yearsSophie-May Williams – MetroIf you were unfortunate enough to ride on the Tube during the latest heatwave, your experience was probably pretty grim. Even more so if you forgot to pack your portable fan, a contraption that has become a lifeline for Brits in recent weeks. However, it seems like Londoners (some of them, anyway) are about to get some sweet relief on the Underground. That is because the Piccadilly Line — which will celebrate its 120th birthday in December — is being fitted with air conditioning. /jlne. ws/4p6MHOpMISCThe 10 Best Fiction and Nonfiction Books of Summer 2026James Tarmy – BloombergSummer feels like it’s nearly halfway through, but the season’s book publishing has just begun. While a series of big-name titles have already hit the shelves in an attempt to elbow their way into beachgoers’ totes, a steady stream of excellent fiction and nonfiction is yet to come. Below are 10 of Bloomberg’s picks for forthcoming releases — get them while it’s hot. /jlne. ws/4paBT1Z

Source: johnlothiannews.com