| April 29, 2025 | "Irreverent, but never irrelevant" | | |  | John Lothian
Publisher
John Lothian News | |
|
| | | | First Read | | |
| | 2025 Newsletter Subscriptions: | |
Hits & Takes
John Lothian & JLN Staff
A wave of cyberattacks targeting Japanese online brokerage accounts has enabled hackers to manipulate global markets, resulting in fraudulent trades totaling approximately $710 million since February 2025, Bloomberg reports. The attackers hijacked retail investor accounts at major firms such as Rakuten Securities and SBI Securities, using them to purchase large volumes of thinly traded penny stocks in Japan, the U.S. and China. This activity artificially inflated stock prices, allowing the hackers, who had previously accumulated positions, to sell at a profit, a classic "pump and dump" scheme on an international scale.
The surge in unauthorized trades, rising from just 33 cases in February to over 700 in mid-April, has exposed significant vulnerabilities in brokerage cybersecurity, particularly in systems relying on browser logins rather than more secure mobile apps. The manipulation was facilitated through phishing attacks and credential-stealing malware, which enabled criminals to bypass safeguards and execute trades undetected. The fallout has been severe for individual investors, who were left with leveraged positions in volatile stocks, leading to substantial financial losses and eroding trust in the market.
Regulatory and industry responses have included halting high-risk trades, urging brokers to upgrade security protocols, and government calls for "good faith" compensation discussions with victims. However, compensation has been inconsistent, and the incident has undermined Japan's efforts to encourage broader household investment. The scale and sophistication of the attacks highlight the evolving threat of market manipulation in the digital era, with cybercriminals exploiting weak points in global financial infrastructure to orchestrate rapid, large-scale fraud.
This story was one of the issues I discussed with Tellis Williams at last week's Global Cyber Security Initiative, GCSI 2025, conference in our fireside chat. It is an ongoing issue in Japan and elsewhere.
Foreign investors have sparked the most extended buying spree in Indian equities since July 2023, injecting over $4 billion in just nine sessions, driven by optimism over a potential U.S.-India trade deal, attractive valuations, and India's resilience amid global tensions. Following months of outflows, this renewed foreign interest is a significant factor behind John Lothian News launching a marketing campaign to attract non-domestic derivatives traders to Indian markets and encourage Indian traders to explore U.S. markets. The cross-border appeal is fueled by India's status as the fastest-growing major economy and a strategic shift in global capital flows, positioning both markets for increased international participation.
Pierre Poilievre's defeat in the 2025 Canadian federal election was remarkable not only because he fell short in his bid to become prime minister, losing to Mark Carney's Liberals, but also because he lost his own long-held seat in Carleton - a riding he had represented for two decades, Bloomberg reported. This personal setback came despite Poilievre delivering the best result for the Conservative Party since 2011, with the party capturing over 42% of the popular vote and gaining more than 20 seats compared to the previous election.
The outcome highlighted the unpredictability of Canadian politics and the challenges facing the Conservatives, who were outmaneuvered by a united left and a Liberal resurgence in the campaign's final months. Poilievre's loss in Carleton, once considered a Conservative stronghold, underscored shifting voter sentiments and the impact of local activism and national dynamics, capping a night of bittersweet gains for his party.
IEX's Ronan Ryan and John Ramsay welcomed IEX executives John Palmer and Ivan Brown on the latest edition of the Boxes and Lines podcast. They are leading IEX's launch into the options market and discuss how options differ from equities and the growing popularity of zero-day-to-expiration (0DTE) contracts. Palmer and Brown explain the unique risks market makers face in a quote-driven environment, why now is the right time for IEX to enter options trading, and how IEX's Signal technology helps protect against stale quotes, making their offering distinct in a competitive market. You can also watch the podcast on YouTube HERE.
BlockFills announced a rebrand, it said, reflecting its growth, evolution, and renewed commitment to delivering the highest quality experiences to its clients, Gabriella Kusz, chief operating officer at BlockFills, shared on LinkedIn.
Here are the headlines from in front of FOW's paywall from some recent stories: Qomply taps industry veteran Stewart in strategy role, Volatility could spur guidance uplift after positive first quarter - Deutsche Boerse, ANALYSIS: ION rolls out pre-trade margin tool for CME SPAN 2, ANALYSIS: EEX sets growth strategy after record year and ANALYSIS: US options market on track for sixth record year as trading spikes.
Former Trading Technologies President and CFO Michael Kraines is starting a new position as chief financial officer at Solidus Labs, he shared on LinkedIn.
Have 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 of JLN Options were:
- Lots More on How TikTok Options Traders Got Quiet from Bloomberg.
- Grayscale Still Tops All US Spot Bitcoin ETFs in Revenue from Decrypt.
- Nasdaq Offers New Electronic Flex Options on ISE from Traders Magazine. ~JB
Subscribe to the JLN Options Newsletter HERE (it's free).
++++
 From Circuit Breakers to Coffee Brokers: Fred Schoenhut's Journey to the NYBOT Trading Pit JohnLothianNews.com ELMHURST, IL - (JLN) - April 29, 2025 - When Fred Schoenhut was growing up, he dreamed the usual boyhood dreams - maybe he'd be a pro athlete, a star on the ice or diamond. "I thought I was good at baseball, I thought I was good at ice hockey," Schoenhut recalls with a laugh. "But, you know, when you're not six-foot-five and 225 pounds, you're kind of limiting what, you know, athletics will take you in your lifetime." Instead, he became the first in his family to go away to college, earning an electrical engineering degree and learning from the start that "engineers are pretty unique people because they're charged ... to solve problems. And I think that helped me along the way in my career." Watch the Fred Schoenhut Video »
++++
At 100 Days, Trump 2.0 Is in Trouble; The tariff shock he's unleashed could sink his second term.
The Editorial Board - The Wall Street Journal
Presidential second terms are rarely successful, and on the evidence of his first 100 days Donald Trump's won't be different. The President needs a major reset if he wants to rescue his final years from the economic and foreign-policy shocks he has unleashed. There's no denying his energy or ambition. Mr. Trump is pressing ahead on multiple fronts, and he has had some success. His expansion of U.S. energy production is proceeding well and is much needed after the Biden war on fossil fuels. He has ended the border crisis in short order. He is also rolling back federal assaults on mainstream American values-such as by policing racial favoritism. Mr. Trump was elected to counter the excesses of the left on climate, culture and censorship, and he is doing it.
/jlne.ws/42QdPX7
***** Presidencies are ships that sink? I would have gone for a golf metaphor. Trump 2.0 is out of bounds and way over par, maybe.~JJL
++++
How Critical XRP Ledger Software Got Compromised With Crypto-Stealing 'Backdoor' In 'Potentially Catastrophic Supply Chain Attack'
David Okoya - Benzinga
XRP, the cryptocurrency associated with blockchain payments firm Ripple, has increasingly been in the limelight in recent months amid an impressive run of form and regulatory wins. Over the past 24 hours, the project has again grabbed headlines, but not for the reasons users would like. XRP holders have been targeted in "a potentially catastrophic" exploit. Aikido Security, a security platform for developers, on Tuesday reported that the official software development kit of the XRP Ledger, the blockchain underpinning the cryptocurrency, had been compromised in an exploit that likely put millions of user assets at risk.
/jlne.ws/3GwEv7V
****** This has always been one of my fears about a man-made "cyber-currency," some kind of backdoor that designers or hackers could exploit and leave investors with nothing.~JJL
++++
Where Did All the Classy Americans Go?; From politics and podcasts to sports and TV, everybody's taking the low road.
Matthew Hennessey - The Wall Street Journal
I'll bet it's been a while since you heard someone in public life described as "classy." The word, and what it represents, has gone AWOL. The culture has time only for outrageous characters-F-bombers, exhibitionists, interrupters, slobs. The sublime has given way to the garish, the sacred to the profane. Personal qualities once synonymous with good character have fallen so far out of fashion as to seem like rumors from an ancient age. Did athletes really once accept defeat with dignity? Did people really restrain themselves from saying everything that popped into their heads? Did known philanderers refrain from trying to mount political comebacks? Did ex-presidents stay out of the limelight as a courtesy to their successors?
/jlne.ws/4jynfOk
****** A good way to rebuild class, often associated with high standards of behavior and admirable personal qualities, could start with something as simple as trying to live up to the Scout Oath and Law. Try being trustworthy, loyal, helpful, friendly, courteous, kind, obedient, cheerful, thrifty, brave, clean, and reverent. Try to do your best to do your duty to God and your country and to help other people at all times. Try to keep yourself physically strong, mentally awake, and morally straight. It is amazing how transformative these values can be.
++++
Monday's Top Three
Our top story Monday was The Wall Street Journal's Naples Estate Sells for $225 Million in One of the Country's Priciest Home Sales. Second was USA Today's Trump wasted no time breaking his campaign promises. It's been 100 days of lies, an opinion piece. And third was The Telegraph's Voters turn against Trump ahead of 100-day mark.
++++
|
|  | | | |
 | |
| Lead Stories | Xi Is Trying to Turn World Against US as Trump Cuts Trade Deals
Bloomberg News
President Xi Jinping's diplomats are fanning out across the world with a clear message for countries cutting deals with Donald Trump: The US is a bully that can't be trusted. Chinese officials are racing to turn foreign governments against the US inside a 90-day window Trump has granted all nations - except China - to strike trade deals during a tariff reprieve. Once those pacts are in place, Treasury Secretary Scott Bessent has said he wants US allies to "approach China as a group," giving his side more leverage in negotiations.
/jlne.ws/43ftqQz
China Is the Wrong Model for the US Economy; The Chinese economic experiment shows that there are diminishing returns to a planned economy.
Allison Schrager - Bloomberg
More trade with the rest of the world was supposed to have produced a more liberal China, both economically and politically. Instead, in the quarter-century since it officially joined the World Trade Organization, China has kept a pretty heavy hand in its economy - and has not, by any definition, become a liberal democracy. Meanwhile, the world's liberal economies have become a lot less so. In fact, there is a plausible argument that in recent years China has had more influence over US economic policy than the other way around. That's unfortunate, not just because the Chinese economic model won't work for the US, but because the US model was already working pretty well.
/jlne.ws/3Ew2e7L
Deutsche Bank, HSBC Show There's Life Beyond America; European banks are optimistic the rest of the world will continue taking care of business.
Paul J. Davies - Bloomberg
Deutsche Bank AG and HSBC Holdings Plc see the world getting on with business in many ways even as the US shoots its own economy in the foot. President Donald Trump's tariff war will hurt global trade and output if it continues - but both European lenders see potential benefits from America's act of self-harm. The two banks reported first-quarter earnings on Tuesday that came in better than hoped. Deutsche Bank's pretax profit of EUR2.8 billion ($3.2 billion) was its best since the start of 2011. The German lender was buoyed by very strong activity on its bond and currency trading desks and a step up in the profitability of its German consumer and small business bank.
/jlne.ws/4jvov4C
SEC's Hester Peirce Compares U.S. Crypto Rules to 'Floor is Lava' Game, Urges Clearer Regulations
SEC Commissioner Hester Peirce criticized the current state of crypto regulation in the U.S., comparing it to the children's game "the floor is lava," where firms must avoid direct contact with crypto assets while navigating unclear regulations. Speaking at the SEC's "Know Your Custodian" roundtable on April 25, Peirce explained that firms engaging in crypto must jump from one poorly defined regulatory space to another. She pointed out that the regulatory landscape is uncertain, with firms unsure of which crypto assets qualify as securities and whether activities like staking or voting rights could trigger violations. Peirce's analogy illustrated the confusion that investment advisers face when determining what qualifies as a security and who can act as a qualified custodian for crypto assets. She emphasized that there are no clear guidelines, leaving firms to operate in the dark. This uncertainty, Peirce noted, makes it difficult for the crypto market to develop under the current regulatory framework.
/jlne.ws/4iDz70a
Opinion: How the twilight of 'king dollar' could be the dawn of a new world currency; The overvalued dollar has benefits for Americans, but also costs. A true global currency might be the answer.
Peter Morici - MarketWatch
America's international arrangements are too expensive for the country to sustain. These costs include security alliances in which America bears too much of the burden, the World Trade Organization (WTO) in which the United States offered low barriers to its market with little reciprocity, and a U.S. dollar-anchored global monetary system that requires large issuance of U.S. government debt to expand liquidity for global commerce. These challenges have given rise to three problems that the Trump administration has been looking to fix:
/jlne.ws/436fbyq
Biggest risk to markets is a fragmented world, says Norway wealth fund CEO
Gwladys Fouche - Reuters
The world economy appears to be fragmenting, posing the biggest risk to markets currently as it brings low growth and higher inflation, the CEO of Norway's $1.8 trillion sovereign wealth fund told Reuters. The fund, which invests the Norwegian state's revenues from oil and gas production, is the largest of its type and one of the world's biggest investors, owning on average 1.5% of all listed stocks and across some 9,000 companies globally.
/jlne.ws/4jZjgKB
Over 50 crypto ETFs await SEC nod
Anushka Basu - The Street
A fresh wave of crypto ETFs is awaiting entry onto the U.S. markets, with over 50 funds now awaiting SEC decisions. These ETFs cover everything from Bitcoin and Ethereum to Solana, XRP, and Dogecoin, according to the latest figures from Bloomberg. For the big names, submissions come from Grayscale, Franklin Templeton, Bitwise, and VanEck. According to the data, new ETF filings for Solana (SOL), Ripple (XRP), Cardano (ADA), and DOGE suggest altseason may be on the horizon as institutional interest in this sector grows. Specialized offerings, such as Bitcoin and Ethereum staking ETFs and Ethereum option ETFs, are also in the works.
/jlne.ws/3YSDXzv
Globalization Isn't Dead, Says HSBC
Joe Wallace - The Wall Street Journal
World trade isn't grinding to a halt but it is changing shape, according to the chief executive of HSBC, a major funder of global commerce. "We've seen a significant drop in volumes along the U.S.-China corridor in the sectors that have not been given a waiver or a reduction in tariffs," Georges Elhedery said Tuesday, as HSBC reported results. Elhedery said he doesn't believe globalization is over, but that trade is getting rewired, with more activity within regions such as Asia and the Middle East. He said the bank stands to benefit from that reconfiguration because it has more than 5,000 trade specialists, though the uncertainty is likely to weigh on demand for loans this year.
/jlne.ws/4iz1XyF
Deutsche Bank Debt Trading Hits Record on Market Volatility
Arno Schuetze and Oliver Crook - Bloomberg
Deutsche Bank AG's trading unit hit a record in the first quarter as the lender benefited from market volatility. The fixed income and currencies business recorded a 17% revenue jump to EUR2.9 billion ($3.3 billion) in the three months through March, Deutsche Bank said on Tuesday. The result exceeded the average 5% increase across Wall Street and was the highest for the German lender since at least 2013, according to data compiled by Bloomberg.
/jlne.ws/436miH8
Alphabet Leads Busiest Day for Euro Bond Sales Since January
Ronan Martin - Bloomberg
Google parent Alphabet Inc. is leading the biggest rush in months into Europe's bond market on Tuesday, as borrowers seize on improving investor sentiment to raise cash. The tech giant is aiming to generate at least EUR2.5 billion ($2.8 billion) from a debut sale of euro bonds, the standout deal among the 20 borrowers tapping the market. Its unusual five-part offering makes for a total of 26 tranches of debt, the most in a single day since Jan. 16, according to data compiled by Bloomberg.
/jlne.ws/3YhYOMv
$53 Billion Asset Manager Investcorp Sells US Firm to Kohlberg
Matthew Martin - Bloomberg
Investcorp, the Middle East's largest alternative asset manager, has sold US-based Resa Power to Kohlberg & Co. The deal is the first exit from Investcorp's $1.2 billion North America Private Equity Fund 1, the Bahrain-based firm said in a statement, without disclosing financial details. Since Investcorp's 2021 acquisition of Resa, which provides electrical testing and power systems servicing across North America, its revenue has increased more than fourfold.
/jlne.ws/3EEZQLY
Britain hit by unusual power activity hours before Spain blackout; The UK's grid operator is investigating unexplained shifts in electricity frequency on Sunday
Matt Oliver, Jonathan Leake - The Telegraph
Britain's electricity grid operator is investigating unexplained power plant failures that hit the UK's system hours before Spain and Portugal were plunged into blackouts. Control room staff at the National Energy System Operator (Neso) observed unusual activity on Sunday that saw the power frequency shift unexpectedly in the early morning and the evening. Keeping the frequency of the electricity system within certain limits is vital to keeping the lights on.
/jlne.ws/4cY7RIy
The 'Oil Curse' Explains Harvard's Puzzling Financial Choices; Universities with large endowments can lose focus from their core academic missions.
Aaron Brown - Bloomberg
Three recent stories suggest financial problems at Harvard University, problems that likely extend to most elite and some non-elite schools. First is the standoff with the Trump administration which has led to a $2.2 billion funding freeze and threatened its tax-exempt status. Second is a Bloomberg News report that it is in talks to sell $1 billion of private-equity investments from its endowment. Third are borrowing plans that would bring the university's indebtedness to more than $8 billion. This could be a simple story: Harvard needs cash to replace lost federal funds and pay for university operations - except for one thing. Harvard has a $53.2 billion endowment, much of it in liquid assets, so why the panic over Trump, fire sale of illiquid assets at an unfavorable time and massive borrowings? Why not use the endowment's liquid assets to buffer any shortfalls at a lower cost than selling private equity and borrowing? Granted, there are many restrictions on specific endowment funds that limit the university's power to use the entire $53.2 billion for general purposes, but Harvard could extract considerably more cash from the endowment.
/jlne.ws/4jvUbXx
|
| | | |
|
| |
| Trade War and Tariffs | | A roundup of today's trade war and tariff news and the global economic ripple effects shaping markets, industries, and investment strategies. | Beijing will not engage in market dumping, China's ambassador to India says
Reuters
China will not dump its goods in other countries due to its trade and tariff war with the U.S., Beijing's ambassador to India, Xu Feihong, wrote in an article on Tuesday, trying to allay fears of cheap Chinese goods flooding other markets. In tit-for-tat tariffs between the world's two biggest economies, China and the U.S. have hiked levies on each other's goods to over 100% since U.S. President Donald Trump took office in January, rattling global markets.
/jlne.ws/4jNLKXq
India Eyes 'Early Mutual Wins' in US Bilateral Trade Talks
Shruti Srivastava - Bloomberg
India signaled the possibility of "early mutual wins" in its negotiations with the US, as the two nations inch closer to sealing the first tranche of a trade deal by fall of this year. A team of officials, led by India's chief negotiator Rajesh Agrawal, was in Washington last week to advance discussions on the trade pact. The two nations discussed the roadmap for a "mutually beneficial, multi-sector bilateral trade agreement by fall of 2025, including through opportunities for early mutual wins," India's Ministry of Commerce and Industry said in a statement on Tuesday.
/jlne.ws/3Gqqed5
The Tariff Train Wreck Is Foreseeable and Avoidable; Firms and households have had time to mitigate the damage from tariffs. That may help soften the blow.
Jonathan Levin - Bloomberg
The US stock market lately feels a lot like the murder-on-the-train-tracks trope from old Western films and cartoons: a distressed victim (the S&P 500 Index) is chained to the rails, and a locomotive is approaching from a distance (a tariff-induced recession). Everyone's watching with a mix of fear and morbid fascination, but there may also be time to change the course of events. At least Mr. Market seems to think so.
/jlne.ws/4iGCwvf
Deutsche Bank, HSBC Flag Tariffs Impact as Provisions Climb
Arno Schuetze and Harry Wilson - Bloomberg
First-quarter results at Deutsche Bank AG and HSBC Holdings Plc offered an early glimpse of how two of Europe's biggest lenders are responding to the trade war hitting markets. The German lender added EUR70 million ($80 million) to its provisions in the first quarter specifically to reflect concerns over tariffs and the macroeconomic picture, Chief Financial Officer James Von Moltke said on an earnings call Tuesday. Credit provisions overall for the quarter rose to EUR471 million, ahead of estimates.
/jlne.ws/4iF6pMr
U.S. tariffs will hasten, not slow, China's drive for tech self-sufficiency
Grace Shao - Fortune
Donald Trump's "Liberation Day" tariffs are shocking global markets and rekindling fears of a prolonged trade war. The U.S. president may be reconsidering some of his most disruptive tariffs as he floats the possibility of a deal-but he also continues to threaten new measures on goods like semiconductors and pharmaceuticals as he tries to shake up the global trading system.
/jlne.ws/3EQOowD
China's copper supplies set to run out as US tariffs bite, says Mercuria; Market suffers one of 'greatest tightening shocks' in its history as traders race to get ahead of potential levies
Tom Wilson and Camilla Hodgson - Financial Times
China's copper stockpiles are on track to dwindle to nothing in just a few months, as the market suffers "one of the greatest tightening shocks" in its history on fears of US tariffs, according to senior executives at commodities trading house Mercuria. Huge US demand, as buyers rush to get their hands on copper ahead of the potential imposition of levies by the Trump administration, was sucking imports of the metal into the country from the rest of the world and setting it up in direct competition with China for supplies, said the Geneva-based group.
/jlne.ws/4jteMvD
Trump set to ease tariff impact on US car makers
Peter Hoskins - BBC News
President Donald Trump is set to take action to ease the impact of his tariffs on US car makers, a top White House official says. "This deal is a major victory for the President's trade policy by rewarding companies who manufacture domestically," Commerce Secretary Howard Lutnick said in a statement provided to the Reuters news agency. The president will announce measures to reduce some import duties on parts from abroad that are used in vehicles manufactured in the US.
/jlne.ws/3SbneUl
|
| | | |
|
| |
| World Conflicts | | News about various conflicts and their military, economic, political and humanitarian impact. | Ukraine Invasion
Zelenskiy praises killing of top Russian military figures
Reuters
President Volodymyr Zelenskiy praised Ukraine's foreign intelligence service on Monday for the killing of top Russian military figures since the start of the war, but made no mention of a car bomb that killed a senior Russian officer last week. The Kremlin has blamed Ukraine for last Friday's car bomb outside Moscow that killed Yaroslav Moskalik, 59, deputy head of the Main Operations Directorate of the General Staff of the Russian Armed Forces.
/jlne.ws/4lSUo8V
Zelensky says Ukraine not kicked out of Russia's Kursk
AFP
Ukrainian President Volodymyr Zelensky on Sunday said Ukraine's army was still fighting in Russia's Kursk a day after Moscow claimed the "full liberation" of its western region. Kyiv had hoped it could use land in the Kursk region as a bargaining chip in future peace talks with Russia, which has seized parts of eastern and southern Ukraine since launching its offensive in February 2022.
/jlne.ws/4iDMRYL
Russia threatens Nato with nuclear strikes; Russia could strike Nato members with nuclear weapons, a senior security official has said.
The Telegraph
Dmitry Medvedev, Russia's former prime minister and current deputy of its security council, said Nato's newest members, which includes Sweden and Finland, could be struck with revenge strikes using nuclear weapons in the event of a conflict.
/jlne.ws/4iAa267
Don't be deceived: Putin is taking Trump for a fool
Owen Matthews - The Telegraph
What does Donald Trump look like when he's really, really mad? Vladimir Putin recklessly seems determined to find out. But like an orange version of the Incredible Hulk, the Kremlin definitely won't like Trump when he's angry. Over the past couple of months Putin has been busy baiting and switching the Donald. Almost every day, Russia seems to offer some apparent peace gesture. Yet for every olive branch the Kremlin offers with its right hand, it continues to hammer Ukrainian civilians with its left.
/jlne.ws/44acyN5
If Trump abandons Ukraine, can Europe help Kyiv fight on? The clock is ticking to answer that
Emma Burrows - Associated Press
President Donald Trump is pushing Ukraine to cede territory to Russia to end the war, threatening to walk away if a deal becomes too difficult - and causing alarm bells in Europe about how to fill the gap. Ukraine's European allies view the war as fundamental to the continent's security, and pressure is now mounting to find ways to support Kyiv militarily - regardless of whether Trump pulls out.
/jlne.ws/4cWFt9R
Russia Hopes Warmer Weather Will Boost Flagging Spring Offensive; Hardening ground and increasing foliage could hamper Ukraine's efforts to hold the line
Ian Lovett and Nikita Nikolaienko - The Wall Street Journal
A train of Russian motorbikes snaked along a dirt path. A clutch of armored vehicles coursed across a field. Infantry sought cover under trees with budding leaves. The Russian spring offensive is under way, Ukrainian military commanders say, as changing weather is hardening ground and increasing foliage. The scenes from a Russian assault earlier this month, captured on aerial-drone videos by the 14th Brigade of Ukraine's National Guard, show how Russia's military is seeking to regain momentum after Kyiv's forces put the brakes on their advances since the start of this year.
/jlne.ws/449FzbH
Other Conflicts
Pakistan Says It Shot Down an Indian Spy Drone in Kashmir
Kamran Haider and Sudhi Ranjan Sen - Bloomberg
Pakistan's army has shot down an Indian spy drone along their disputed border in the Kashmir region, as tensions rise over last week's militant attacks that killed 26 people. The unmanned drone breached the so-called Line of Control in Kashmir, a northern region claimed by both countries, Pakistan's state-run television channel said on Tuesday, citing unidentified security personnel. Both sides have shot down small drones in the past as they are often used for surveillance around the border.
/jlne.ws/3SgdV5q
|
| | | |
|
| |
| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | The Athens Exchange Group Hosts the ATHEX Tech Summit 2025 for the Second Consecutive Year on May 14 at the Athens Conservatory
ATHEX Group
The Athens Exchange Group, recognizing the rapid advancements in digital technologies and their critical role in boosting business competitiveness and productivity, is proud to host the ATHEX Tech Summit 2025 for a second consecutive year. Following the success of the inaugural event in 2024, the summit returns as a key meeting point for leading companies, technology providers, and industry professionals. Aimed at senior executives from both listed and non-listed companies, the conference will provide insights into the latest trends and breakthroughs in digital technology, delivered by top industry experts. In addition to thought-provoking talks, participants will explore cutting-edge solutions and applications designed to equip businesses with the tools and knowledge needed for the next stage of their digital transformation.
/jlne.ws/42zjXEt
SIX Expands Global Fixed Income Data Coverage with Extensive New Offering; SIX, the global financial data and market infrastructure provider, has launched SIX Fixed Income Data today. The new data offering delivers industry leading coverage of pricing, reference data, corporate actions, and underlying source documents for the global fixed income markets.
BME-X
The solution provides reliable global fixed income data to banks, asset managers, wealth managers and hedge funds worldwide. With comprehensive coverage, rigorous validation processes, seamless integration into existing systems, and a flexible service model, the solution helps market participants reduce reliance on inconsistent, error-prone sources and stay agile as their needs evolve. The data set draws from a vast array of information from across global markets to make this possible, particularly for instruments in the largest fixed income market, the United States. With SIX Fixed Income Data, clients have access to data for 3.6 million US instruments across municipal, corporate and government debt, and structured finance.
/jlne.ws/3RBAZeV
London Stock Exchange Group PLC Transactions In Own Securities
Mondovisione
London Stock Exchange Group plc (LSEG) announces today that it has purchased the following number of its ordinary shares of 679/86 pence each on the London Stock Exchange from Morgan Stanley & Co. International Plc (Morgan Stanley) as part of its share buyback programme, as announced on 3 March 2025:
/jlne.ws/3GxZSWE
DTCC Appoints Talia Klein as Head of Wealth Management Services; Klein brings over a decade of experience developing innovative solutions to meet the evolving needs of wealth managers and institutional investors to DTCC
DTCC
New York/London/Hong Kong/Singapore/Sydney, April 29, 2025 The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced the appointment of Talia Klein as Managing Director and Head of DTCC's Wealth Management Services, reporting to Brian Steele, Managing Director, President, Clearing & Securities Services at DTCC.
/jlne.ws/3YR32uA
EEX Press Release - EEX Group financial year 2024: new records in revenues and income
EEX Group
EEX Group reports record financial results for 2024 with a 16% overall growth in total revenues, reaching EUR 669.9 million (2023: EUR 575.6 million). In addition, the adjusted net income increased by 15% to EUR 241.9 million (2023: EUR 210.5 million). Key drivers for the growth included the continued increase of trading volumes primarily across the European, Japanese and North American power markets. This increase was supported by the further expansion of the extensive member network, including new customer groups joining and participants moving from the over-the-counter markets. In total, EEX Group today connects 950+ participants across 42 countries.
/jlne.ws/4iEXafi
Modification to TSTRIP Collateral Limit - Effective April 29, 2025
CME Group
/jlne.ws/3Gu3rwS
Performance Bond Requirements: Interest Rate Margins - Effective April 29, 2025
CME Group
As per the normal review of market volatility to ensure adequate collateral coverage, the Chicago Mercantile Exchange Inc., Clearing House Risk Management staff approved the performance bond requirements for the following products listed in the advisory at the link below.
/jlne.ws/4joOUB8
Q1/2025: Deutsche Börse Group starts financial year 2025 with further growth
Deutsche Borse Group
Deutsche Borse Group has just published its quarterly statement Q1/2025.
/jlne.ws/4lWptc0
|
| | | |
|
| |
| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | Banks, fintech, and crypto are colliding in the new Trump era
David Hollerith - Yahoo Finance
The Trump 2.0 era is producing new crossovers in the financial world as some crypto firms consider applying for banking licenses and some banks consider issuing their own digital assets. The convergence is picking up momentum as the new administration loosens restrictions on both crypto operations and traditional banking giants. The latest evidence of this mashup is that crypto upstarts Circle, BitGo, Coinbase Global (COIN), and Paxos are all either considering or planning to seek a US bank license in some form, according to a report in the Wall Street Journal.
/jlne.ws/4jTGlxV
Wall Street Banks Sell Final Slug of Elon Musk's X Debt; The loans sat on banks' books for 2½ years until Donald Trump's election rapidly changed company's fortunes
Alexander Saeedy - The Wall Street Journal
A group of Wall Street's biggest banks have finally dug themselves out of a $13 billion quagmire that Elon Musk created. On Monday, banks sold the final slug of the debt they lent for Musk's takeover of Twitter in 2022, according to people familiar with the matter. The $1.2 billion of loans sold at 98 cents on the dollar. The sale was a long time coming. In April 2022, Morgan Stanley, Bank of America and five other banks agreed to lend the money to help Musk buy Twitter. The plan was to divvy up some $13 billion in debt, sell it to investors and earn millions in fees.
/jlne.ws/44efIPZ
Industry Adapts Seamlessly to T+1, Eyes Future Opportunities
Anna Lyudvig - Traders Magazine
The U.S. capital markets' shift from a T+2 to a T+1 settlement cycle stands as one of the most consequential changes in recent market infrastructure, yet according to Rich Robinson, Chairman of the International Securities Association for Institutional Trade Communication (ISITC), the transition has been strikingly smooth across the industry.
/jlne.ws/4jG5X1J
The Truth About The Chinese AI Video Mocking Efforts To Revitalize American Manufacturing
Ethan Karp - Forbes
Recently, an AI-generated video aimed at the current trade war started circulating on Chinese social media, and eventually here in the U.S. It's simple enough: Inside what appear to be the U.S. version of manufacturing sweatshops, a bunch of "schlubby Americans" (as Yahoo puts it) toil away at sewing machines or on assembly lines for smartphones. They do not look particularly happy. At the end, the screen flashes, "Make America Great Again." Although it's difficult to trace the origins back to the original publisher, the video clearly struck a nerve. The reading between the lines seems to be: Hey, before you bring these jobs back to America, are you sure you want them? Is this the future you envision for yourself?
/jlne.ws/4jylLDK
Altman and Nadella, Who Ignited the Modern AI Boom Together, Are Drifting Apart; The OpenAI and Microsoft CEOs helped each other become power players in generative AI but are now preparing for independent futures
Berber Jin and Keach Hagey - The Wall Street Journal
Sam Altman once said OpenAI and Microsoft had the "best partnership in tech." Now, their Silicon Valley marriage is on the rocks. Microsoft turbocharged the artificial-intelligence startup's growth over the past six years with billions of dollars in funding, helping OpenAI's ChatGPT accumulate more than 500 million weekly users. OpenAI powered cutting-edge generative AI tools for the technology giant, helping its share price triple.
/jlne.ws/4jZoPIV
AI Investment Intelligence Firm BridgeWise Secures DIFC License And Strategic Investment From Emirates NBD To Accelerate Middle East Expansion
Mondovisione
BridgeWise, a global AI-powered investment intelligence platform, announced its official entry into the Middle East after securing an operational license from the Dubai International Financial Centre (DIFC). This move marks a significant milestone in BridgeWise's global growth strategy and strengthens its presence in one of the world's most dynamic fintech ecosystems.
/jlne.ws/42AoPt5
Sam Altman says OpenAI will fix ChatGPT's 'annoying' new personality as users complain the bot is sucking up to them
Beatrice Nolan - Fortune
/jlne.ws/4cPsFSi
Nvidia's Trump Worries Go Far Beyond China; 'AI-diffusion' rules could limit U.S. chip company's sales even to friendly countries-and give more opportunity to foreign rivals
Dan Gallagher and Asa Fitch - The Wall Street Journal
/jlne.ws/3SbOEte
The AI data center race is slowing down as Amazon and Microsoft catch their breath
Jackie Snow - Quartz
/jlne.ws/3YoDdSG
Amazon Wants to Be a Satellite-Internet Powerhouse. It Has a Long Way to Go; Company launches 27 Kuiper satellites, but it needs to get thousands more to space to rival SpaceX's Starlink
Micah Maidenberg - The Wall Street Journal
/jlne.ws/4jZt4El
|
| | | |
|
| |
| Cybersecurity | | Top stories for cybersecurity | Hackers Manipulate Markets in $700 Million Illicit Trading Spree
Aya Wagatsuma - Bloomberg
Criminals are hijacking online brokerage accounts in Japan and using them to drive up penny stocks around the world. The wave of fraudulent trading has reached ¥100 billion ($710 million) since it started in February and shows no signs of cresting. The scams typically use the hacked accounts to buy thinly traded stocks both domestically and overseas, allowing anyone who has built up a position earlier to cash out at inflated values. In response, some Japanese securities firms have stopped processing buy orders for certain Chinese, US and Japanese stocks.
/jlne.ws/3YnWbZE
Wisconsin woman loses $80K trying to surprise husband with a crypto windfall - only to discover it was a scam
Christy Bieber - Moneywise
It was supposed to be the ultimate wedding anniversary surprise, a secret investment that would unlock wealth the couple never knew. Instead, a Wisconsin woman ended up more than $80,000 in the hole - the victim of a cruel crypto scam that lured her in with promises of sky-high returns and faked investment dashboards.
/jlne.ws/4d2GrRW
Some M&S stores left with empty shelves after cyber attack
Faarea Masud - BBC News
Some Marks & Spencer stores have been left with empty food shelves as the retailer continues to struggle with a cyber attack affecting its operations. Online orders have been paused on the company's website and app since Friday, following problems with contactless pay and Click & collect over the Easter weekend.
/jlne.ws/44KNrAA
Spanish Judge to Investigate Whether Blackout Was Cyberattack
Macarena Munoz Montijano - Bloomberg
A judge in Spain's national court has opened an investigation to determine whether Monday's countrywide blackout was a cyberattack. As part of the preliminary investigation, Judge Jose Luis Calama, has demanded that the national cyber agency and the power grid operator present reports on how the blackout occurred. He also made a similar request to the national police.
/jlne.ws/3Gy8RqH
Spain's electricity grid operator rules out cyber attack as cause of blackout; Disruption continues on Tuesday even as power supply is restored
David Sharrock and Ian Johnston - Financial Times
Spain's electricity grid operator has ruled out a cyber attack as the cause of this week's huge power outage as authorities rushed to get transport networks and infrastructure running again. Widespread disruption continued in Madrid, Barcelona and other cities on Tuesday morning after the blackout paralysed transport and communications across much of Spain and Portugal, even as both countries said they had fully restored power supplies.
/jlne.ws/4jPkRmB
|
| | | |
|
| |
| Cryptocurrencies | | Top stories for cryptocurrencies | Abu Dhabi doubles down on crypto as wealth fund, FAB, IHC join forces for new stablecoin
Federico Maccioni - Reuters
Abu Dhabi sovereign wealth fund ADQ, conglomerate IHC, and the UAE's biggest lender by assets First Abu Dhabi Bank (FAB) are planning to launch a new stablecoin backed by dirhams, they said on Monday, as the Gulf country deepens its investment in cryptocurrencies. The stablecoin, which will be fully regulated by the UAE's central bank, will be issued by FAB subject to regulatory approval, the three companies said in a statement.
/jlne.ws/44dOBo8
Secret Deals, Foreign Investments, Presidential Policy Changes: The Rise of Trump's Crypto Firm; World Liberty Financial has eviscerated the boundary between private enterprise and government policy in ways without precedent in modern American history.
Eric Lipton, David Yaffe-Bellany and Ben Protess - The New York Times
The pitch from "ZMoney" arrived on the encrypted messaging app Signal just days before Donald J. Trump's presidential inauguration. "ZMoney" was Zachary Folkman, an entrepreneur who once ran a company called Date Hotter Girls and was now representing World Liberty Financial, the cryptocurrency firm that Mr. Trump and his sons had recently unveiled. Mr. Folkman was writing to a crypto startup in the Cayman Islands, offering a "partnership" in which the firms would buy each other's digital coins, a deal that would bolster the startup's public profile.
/jlne.ws/44eiW63
Shadowy Crypto Companies Make Inroads in U.S. Under Trump; The prime example is Tether, a firm that regulators once targeted. Its chief executive recently hobnobbed in Washington with lawmakers and lobbyists.
David Yaffe-Bellany and Kenneth P. Vogel - The New York Times
Last month, Paolo Ardoino, the chief executive of the cryptocurrency company Tether, joined business executives and U.S. lawmakers for a private lunch at the Willard, a luxury hotel near the White House. For years, Tether had faced accusations that it lied about its finances and allowed crime to flourish on its platform. But at the Willard, Mr. Ardoino and other crypto leaders were warmly greeted by Senator Bill Hagerty, a Tennessee Republican on the Senate Banking Committee, who attended the lunch and participated in a group discussion about digital currency regulations and national security, according to four people with knowledge of the event.
/jlne.ws/3ECNowd
TD Cowen Says 'Twenty One Reflects Most-Meaningful Validation Of Strategy's Bitcoin Treasury Operations To Date'
David Okoya - Benzinga
Over 500,000 BTC and several new entrants later, many still think he is crazy. But skepticism around Strategy's model could be thawing soon according to analysts at leading investment bank TD Cowen. They said this in response to the proposed launch of a new Bitcoin treasury company called Twenty One.
/jlne.ws/3ETaBds
Bitcoin Treasury Firms Positioning for $200 Trillion Market as Hyperbitcoinization Gains Momentum, Says Adam Back
Ayesha Aziz - CoinMarketCap
Investment firms specializing in Bitcoin are positioning themselves to lead the way in the push toward a potential global shift in currency systems. Adam Back, CEO of Blockstream and inventor of Hashcash, pointed out that firms like Strategy, which have adopted Bitcoin treasuries, are playing a crucial role in advancing what some call hyperbitcoinization-a future where Bitcoin overtakes fiat currencies globally. This shift could see Bitcoin's market cap soar to more than $200 trillion, he suggested.
/jlne.ws/42OksJE
Circle Wins Regulatory Nod From Abu Dhabi Watchdog as USDC Hits $62B
Krisztian Sandor - CoinDesk
Circle, the issuer of the second-largest stablecoin, USDC, said it received in-principal regulatory approval from Abu Dhabi, paving the way for an expansion across the Middle East. The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) granted the company the preliminary green light to operate as a money services provider, edging closer to a full license after incorporating in the financial hub last December.
/jlne.ws/3GuXPm4
BlackRock's IBIT Sees Second-Largest Bitcoin Inflow Since Launch, Nearing $1 Billion
James Van Straten - CoinDesk
/jlne.ws/3YVTC11
ProShares Set To Launch 3 Leveraged and Short XRP Futures ETFs on April 30 After SEC Review
Ayesha Aziz - CoinMarketCap
/jlne.ws/4lVFI9e
Tether's $770M XAUT Backed by 7.7 Tons of Gold in Swiss Vault, Says Company
Tom Carreras - CoinDesk
/jlne.ws/42ZUMKm
Mastercard Unveils End-to-End Stablecoin Capabilities, Will Launch Card With
Helene Braun - OKX
/jlne.ws/4jTLPcf
|
| | | |
|
| |
| Politics | | An overview of politics as it relates to the financial markets | Trump Is Finally Coming Face to Face With Voters After Approval Rating Falls
Catherine Lucey - Bloomberg
President Donald Trump is finally getting on the road to promote his agenda, after spending much of his first 100 days in office ensconced in the White House or his private clubs. Trump on Tuesday is traveling to suburban Detroit to make a speech touting his second-term record. In May, he'll deliver two commencement addresses and travel to the Middle East. The sudden burst of travel comes as poll numbers show voters cooling on his economic plans, on top of foreign leaders' and investors' worries they could trigger a downturn. Under mounting pressure to secure his first legislative win, Trump is also marshaling support for his tax bill.
/jlne.ws/42AkTZl
Trump Issues Executive Order Ramping Up American Police State; The order directs the government to provide legal resources to police officers accused of wrongdoing
Charisma Madarang - Rolling Stone
During Donald Trump's final weeks of his 2024 re-election campaign, he fantasized about "one really violent day" of policing as an answer to eradicating crime in America. Speaking to supporters gathered at the Bayfront Convention Center in Erie, Pennsylvania, in late September, Trump mused, "One rough hour - and I mean real rough - the word will get out and it will end immediately, you know?" On Monday, as he prepared to celebrate his 100th day back in the White House, President Trump signed an executive order ramping up his efforts to embolden law enforcement across the country and shield them from accountability. The president instructed his administration to "unleash high-impact local police forces; protect and defend law enforcement officers wrongly accused and abused by State or local officials; and surge resources to officers in need."
/jlne.ws/4cThAQb
Trump Melts Down Over Plummeting Popularity, Says Pollsters Are 'criminals'; Multiple recent polls have the president's job approval rating sitting in the thirties just three months into his second term
Nikki McCann Ramirez - Rolling Stone
President Donald Trump is fuming after a series of recent polls have found that his favorability rating among Americans has continued to drop - in some cases into the thirties. In a wild rant today, the president even wrote on Truth Social that certain pollsters are "criminals" and "should be investigated for ELECTION FRAUD." "They are Negative Criminals who apologize to their subscribers and readers after I WIN ELECTIONS BIG, much bigger than their polls showed I would win, loose a lot of credibility, and then go on cheating and lying for the next cycle, only worse," Trump wrote. "They suffer from Trump Derangement Syndrome, and there is nothing that anyone, or anything, can do about it. THEY ARE SICK, almost only write negative stories about me no matter how well I am doing (99.9% at the Border, BEST NUMBER EVER!), AND ARE TRULY THE ENEMY OF THE PEOPLE!"
/jlne.ws/4jYQ9XQ
Donald Trump's Latest Midnight Musing Is A Sad Lesson In Deep Denial
Ron Dicker - Huffpost
Donald Trump's Latest Midnight Musing Is A Sad Lesson In Deep Denial
President Donald Trump wasn't sleeping on his dismal approval ratings in a near-midnight Truth Social sesh. "The Polls from the Fake News are, like the News itself, FAKE! We are doing GREAT, better than ever before," he wrote. The president's denial would appear to be deep. Polls from outlets ranging from conservative Fox News to The Washington Post show Trump underwater in terms of support from Americans during his chaotic first 100 days.
/jlne.ws/43fhEWn
Trump administration withholding $436.87 billion in approved spending, top Democrats say
Bo Erickson - Reuters
U.S. President Donald Trump's administration has so far withheld at least $436.87 billion of congressionally approved funding, the top Democrats on the U.S. Congress' appropriation committees said on Tuesday. The frozen allotments span the federal government, according to the first estimate of the potential impoundments in the project led by Senator Patty Murray from Washington and Representative Rosa DeLauro from Connecticut.
/jlne.ws/42QYCFr
Tariffs, funding cuts and migrant raids - how Trump hit Chicago and Illinois in his first 100 days in office; U.S. presidents are thought to wield their most influence during their initial 100 days in office, and Trump has left many heads spinning in Democratic-controlled Illinois, with a litany of executive orders and policy choices affecting everyday life.
Chicago Sun-Times
From business headaches and education funding cuts to mass federal worker layoffs and a wave of legal battles, President Donald Trump has left his mark on Chicago and beyond during a whirlwind first three months of his second term. U.S. presidents are thought to wield their most influence during their initial 100 days in office, and Trump has left many heads spinning in Democratic-controlled Illinois with a litany of executive orders and policy choices impacting everyday life.
/jlne.ws/4lNmlix
In stunning comeback, Carney's Liberals win Canada's federal election; The projected result marked a reversal in fortunes for a party that was on track for a historic wipeout only months ago and capped a campaign upended by Trump.
Amanda Coletta - The Washington Post
/jlne.ws/3YoEFV8
Mark Carney Wins Canada Election, Capping Dramatic Turnaround for Liberals; The party hasn't reached parliamentary majority, while Conservative leader Pierre Poilievre says he will stay on to lead the party
Paul Vieira and Vipal Monga - The Wall Street Journal
/jlne.ws/3EIOwhM
A Canadian Technocrat's New Mission: A Radical Breakup With Trump's U.S.; Mark Carney won Canada's election as a counterpoint to Trump-and now success means unwinding decades of foreign policy
Vipal Monga - The Wall Street Journal
/jlne.ws/4cTmzQR
Trump will not 'break' Canada, vows Mark Carney after election victory; Prime minister insists country will 'never forget the lessons' after 'shock of American betrayal'
Kieran Kelly - The Telegraph
/jlne.ws/44gum9g
Billionaire Aspires to Sainthood and Right-Wing Future for France; Investor Pierre-Edouard Sterin is making waves in his home country with a political project backing free-market and socially conservative causes.
Tara Patel - Bloomberg
/jlne.ws/43folrt
EU Bans Sale of 'Golden Passports' as Trump Opens Doors
Samuel Stolton - Bloomberg
/jlne.ws/42R4P4d
|
| | | |
|
| |
| Regulation & Enforcement | | Stories about regulation and the law. | New consumer protections could end soon. Here's what you need to know.; With the shuttering of the Consumer Financial Protection Bureau, rules are changing on bank overdraft fees, medical debt's credit impact and more.
Hannah Ziegler - The Washington Post
As President Donald Trump's cost-cutting crusade targets the government agency tasked with financial oversight for consumers, dozens of regulations have been caught in the crosshairs. The Consumer Financial Protection Bureau first suspended many of its services in February after an order from the Trump administration's U.S. DOGE Service. Since then, its workers have been tangled in a court battle over whether the president can effectively shutter a federal agency without congressional approval, while state regulators, lawmakers and advocacy groups fight over its legacy.
/jlne.ws/437KwAM
Some ECB Officials Push to Curb Scope of Bank Oversight Arm
Alexander Weber, Jana Randow, Nicholas Comfort, and Mark Schroers - Bloomberg
Several top European Central Bank officials are seeking to narrow the remit of its powerful banking supervision arm to reduce red tape for the bloc's lenders, according to people familiar with the matter. The officials are urging a newly formed ECB task force to look into changes to criteria that determine if a bank is "significant" and merits supervision from Frankfurt, rather than by national authorities, said the people. They asked to remain anonymous as the matter is private.
/jlne.ws/3GsmwiU
Ex-Credit Suisse CEO Thiam Fights Ivory Coast Vote Ban in Court
Kamailoudini Tagba - Bloomberg
Ivory Coast's main opposition party appealed a court ruling that disqualified former Credit Suisse Chief Executive Officer Tidjane Thiam from running in this year's presidential election. An Abidjan court last week removed Thiam from the voters' roll before elections in October because of his dual French-Ivorian nationality. The decision came days after Thiam, 62, was chosen as the Democratic Party of Ivory Coast's candidate.
/jlne.ws/432tOTn
SEC Publishes New Market Data, Analysis, and Visualizations
SEC
The Securities and Exchange Commission's Division of Economic and Risk Analysis (DERA) has published new data and analysis on the key market areas of public issuers, exempt offerings, Commercial Mortgage-Backed Securities (CMBS), Asset-Backed Securities (ABS), money market funds, and security-based swap dealers (SBSD) in an effort to increase transparency and understanding of our capital markets amongst the public.
/jlne.ws/44gthhI
ASIC cancels licence of Viridian Equity Group Pty Ltd
ASIC
ASIC has cancelled the Australian financial services (AFS) licence of Viridian Equity Group Pty Ltd (Viridian Equity) following a payment of compensation by the Compensation Scheme of Last Resort (CSLR). On 31 October 2024, the Australian Financial Complaints Authority (AFCA) made three determinations against Viridian Equity, which Viridian Equity failed to pay. Subsequently, on 11 March 2025, the CSLR paid three payments totalling $450,000.00 for the AFCA determinations and notified ASIC. As a result, on 17 April 2025, ASIC cancelled Viridian Equity's AFS licence.
/jlne.ws/4iWD5RT
New Zealand Financial Markets Authority Confirms FinTech Sandbox Participants
FMA via Mondovisione
The Financial Markets Authority (FMA) - Te Mana Tatai Hokohoko has announced the six fintech firms who will be testing their innovative products, services or business models in the FMA's pilot regulatory sandbox. The successful fintech firms are:
/jlne.ws/4lRSwgx
Consumer Confidence Factsheet 2025
FMA
A nationwide Consumer Confidence Survey was commissioned by the FMA in 2024, with the aim of gaining a better understanding of New Zealanders' experiences with financial markets including investments, insurance, KiwiSaver, and financial markets regulation. It found that Maori and women were less likely to feel confident in our financial markets, and were also less likely to feel confident our financial markets were effectively regulated.
/jlne.ws/42wKySC
AI for growth - how the FCA can help; Speech by Jessica Rusu, FCA chief data, information and intelligence officer delivered at the Innovate Finance Global Summit (IFGS) 2025.
FCA UK
It's been 2 years since my last keynote at Innovate Finance Global Summit, and it's great to be back. Looking back, I'm struck by how much has changed and yet how much has stayed the same. In 2023, dominating market headlines, we had FTX, followed by Silicon Valley Bank and Credit Suisse, and on the technology front, the advent of AI and adoption of Chat GPT garnering much attention.
/jlne.ws/4jRMmLF
Our agenda to combat market abuse
FCA
Speech by Therese Chambers, joint executive director of enforcement and market oversight, delivered at the Market Abuse and Market Manipulation Summit.
/jlne.ws/3EQKIej
FCA announces new board appointments
FCA
The Chancellor of the Exchequer has announced the appointments of Julia Black, Anita Kimber, John Ball and Stephane Malrait to the FCA Board.
/jlne.ws/4jN7WRA
FCA set to launch live AI testing service
FCA
The FCA is seeking views from firms about how its live AI testing service can help them to deploy safe and responsible AI, which will benefit UK consumers and markets.
/jlne.ws/4joTsHI
|
| | | |
|
| |
| Investing & Trading | | Today's top stories from equities, indices and FICC (fixed income, currencies and commodities) | Why Trump's Next 100 Days Will Be More Crucial for Stock Markets and 5 Other Things to Know Today.
Barron's
While the first 100 days of Donald Trump's Presidency have been dismal for stock markets, the next 100 could be crucial-and things are starting to look brighter. The S&P 500 has fallen 7.8% since Trump took office in January-on track for the worst start to a presidency since Richard Nixon's second term in 1973, according to Dow Jones Market Data. But the period is ending on a strong note after the index notched its fifth consecutive day of gains Monday, the longest winning streak this year.
/jlne.ws/42Okgdo
Goldman's Solomon Says Markets Will 'Settle Down' After Disorder
Todd Gillespie - Bloomberg
Goldman Sachs Group Inc. Chief Executive Officer David Solomon said he believed that activity in mergers and public listings will find a comfortable level despite uncertainty that's led to a slowdown in activity across investment banks. "If the level of uncertainty grows from here, yes, you will not see the same amount of capital activity - but things will settle down," Solomon said in an interview with Bloomberg Television's Francine Lacqua on Tuesday. "People need to transact, need to raise capital, need liquidity for their investments. Part of this is just a reset of expectations."
/jlne.ws/44PbONB
A slight sell-off by foreign investors could rock the US stock market, says veteran strategist
Brian Sozzi - Yahoo Finance
After spending the week chatting with global investors, economists, and world leaders at the International Monetary Fund's (IMF) annual spring meetings in D.C., former Bridgewater chief investment strategist Rebecca Patterson is concerned the market has gotten too upbeat after its early April Trump tariff rout. "The biggest [takeaway] to me was a read on the non-US investor, the global investor right now. And I'm talking about large institutional investors, people who run large pension funds, sovereign wealth funds, and they're rethinking the United States," Patterson told me on Yahoo Finance's Opening Bid podcast (video above; listen in below).
/jlne.ws/42SWpt8
The 'Zombie Buildings' at the Heart of the Office Meltdown; Private-equity owners abandon souring office deals, leaving bondholders fighting and neighborhoods hurting
Matt Wirz - The Wall Street Journal
One of the biggest office towers in Chicago's River North district occupies some 1.7 million square feet. These days, too much of that space is empty-and the whole neighborhood is paying the price. A messy restructuring with creditors left the building struggling to attract tenants after its owner, private-equity giant Blackstone, walked away from the office complex two years ago. Lenders including Pimco and Oaktree Capital spent about a year battling each other for control of the property, according to people familiar with the matter and documents reviewed by The Wall Street Journal.
/jlne.ws/3REHe1p
Euro 'could replace dollar as global safe haven'
The Telegraph
The euro could become the world's safe haven currency thanks to Donald Trump's chaotic trade war, a European Central Bank policymaker has suggested. If the president of the world's largest economy persists with a trade war that has roiled global markets, investors could lose confidence in the dollar, Piero Cipollone warned. This could in turn pave the way for the euro to become the currency investors see as the safest option to pour their funds into at times of turmoil, he added.
/jlne.ws/4iDyF1M
How One Family Aims to Break Liberals' Corporate Voting Power; Bowyer Research wants to shift more influence to conservative-leaning investors by targeting hot-button corporate policies during the annual proxy season.
Jeff Green - Bloomberg
Roughly 400 miles from Wall Street in a small town in Pennsylvania's Rust Belt, Jerry Bowyer, his wife and five of their children have been working around a dining room table, sifting through corporate data on hot-button issues such as abortion, DEI and climate change. Their goal: Shift more power to conservative investors at company annual meetings. And, with the 2025 proxy season kicking into gear this month, there are signs that the Bowyers are winning some converts.
/jlne.ws/4iIjQLE
|
| | | |
|
| |
| Environmental, Social and Corporate Governance | | Stories about environmental, social and governance investing | Trump administration dismisses authors of key climate report; The move means the congressionally mandated report, which projects the domestic effects of climate change, could be delayed, scrapped or watered down, experts said.
Andrew Jeong - The Washington Post
The Trump administration told scientists writing a congressionally mandated climate report that it was "releasing" them from their roles and that the report's scope was being reevaluated, in an email sent Monday and seen by The Washington Post. Hundreds of authors contributing to the National Climate Assessment - a report documenting climate change in the United States that has been published every four to five years since 2000 - will pause work on the next report, which was planned for release by 2028. It could be delayed, or written in a way that downplays climate change, or not done at all, climate experts said.
/jlne.ws/42AA2K0
BP Plans to 'Drill, Baby, Drill' in the U.S.; Energy giant pledged to boost U.S. production as it reported fall in profit, cuts buyback
Matthew Dalton and Adam Whittaker - The Wall Street Journal
BP, the oil company that once aimed to lead the shift to renewable energy, is now on board with President Trump's mantra of "drill, baby, drill." The London-based energy company said Tuesday it was aiming to boost its production of oil and gas in the U.S. by more than 50% by the end of the decade. The move comes as BP slashes green spending and pivots back to fossil fuels amid pressure from investors. Those include activist hedge fund Elliott Investment Management, which now has a 5% interest in the company.
/jlne.ws/4lTmykc
Scientists Tally Oil Majors' Climate Damage With Eye to Legal Liability; New research breaks down economic losses from global warming and attributes them to individual companies. It could bolster lawsuits against big emitters.
Eric Roston - Bloomberg
Over the last decade, scientists have rapidly developed the field of climate attribution research, teasing out the role played by global warming in individual natural disasters. Meanwhile, their ways of tracking a single emitter's influence on temperature or sea-level rise have grown more sophisticated, as research into climate economics has advanced. The result is that it's now possible to quantify the climate damages caused by each of the world's biggest oil and gas companies, according to a paper published last week in the journal Nature. Those calculations could be brought as evidence in court.
/jlne.ws/4d3hKVu
When the Wind Didn't Blow in Germany; A years-long renewables push leaves the economy hostage to the weather.
The Editorial Board - The Wall Street Journal
Germany has invested so many hundreds of billions of euros in its green energy transition over the years that no one can tally the precise amount. Yet the share of wind and solar power in the country's energy mix in the first quarter of this year managed to fall-by a lot. There's a lesson for the U.S. here. Renewable sources made up some 47% of electricity consumption in Europe's largest economy in the first three months of 2025, the energy trade association BDEW reported Thursday. That's down from 56% in the first three months of 2024. The drop comes despite Germany's continuing build-out of renewable generation. The country has added 872 wind turbines with a capacity of 4.3 gigawatts since April 2024, yet wind-power output fell 16%.
/jlne.ws/3S09DiR
Big Marketers Like Mastercard, PepsiCo and Nissan Are Rethinking Pride Marketing; Brands are shaking up their Pride spending, with some citing political pressure and economic uncertainty
Patrick Coffee - The Wall Street Journal
Mastercard isn't renewing its corporate sponsorship of the New York City Pride March, the city's annual march for LGBTQ rights, for 2025. The financial services giant has supported Heritage of Pride, the nonprofit group that organizes the New York march and other area LGBTQ events, for around a decade, serving as a top-level "platinum" sponsor and preferred payment partner for the past several years.
/jlne.ws/435cxJb
Swiss Life Is Said to Invest in European Vertical Farm Venture
Pamela Barbaglia - Bloomberg
Swiss Life Holding AG's asset management arm is finalizing a deal to invest in a European agriculture technology business, according to people familiar with the matter. Milan-based Planet Farms and Swiss Life Asset Managers are setting up a joint venture to develop vertical farming facilities across Europe, the Middle East and Africa, the people said. It's set to receive an initial capital endowment of as much as EUR200 million ($228 million) from Swiss Life and Planet Farms, the people said, asking not to be identified as the information is private.
/jlne.ws/3YoLyWu
BP reports profit drop as energy giant restrategizes to focus on fossil fuel output
Alexandra Bacon- Fortune
/jlne.ws/4iDTBpx
|
| | | |
|
| |
| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | China's Big Five banks post slimmer margins as economic challenges persist
Engen Tham and Selena Li - Reuters
China's Big Five lenders on Tuesday reported narrower margins on their first-quarter earnings and some a drop in profits as the banking sector is hit by a protracted economic slowdown, with rising tariffs darkening prospects further. As the country's economically crucial property sector continues to reel under a debt crisis, developer defaults are also weighing on the earnings of large Chinese state-owned banks.
/jlne.ws/3GuMF0t
Deutsche Bank Sees Full-Year Targets on Track After Profit, Revenue Rise; The German bank said Tuesday that net profit rose to 1.775 billion euros from 1.275 billion euros in the year-earlier period
Adrià Calatayud - The Wall Street Journal
Deutsche Bank reported first-quarter revenue and profit that rose and beat analysts' expectations and said its results put it on track to hit full-year targets. The German bank said Tuesday that net profit rose to 1.775 billion euros ($2.03 billion) from 1.275 billion euros in the year-earlier period. After-tax profit rose 39% to 2.01 billion euros. Revenue climbed 10% to 8.52 billion euros, with growth in the group's investment bank, private bank and asset management arms offsetting a decline in its corporate bank.
/jlne.ws/4lIDVnE
India's Biggest Bank Plans Fund Raising Via Share Sale This Year
Advait Palepu - Bloomberg
State Bank of India Ltd., the nation's biggest lender, plans to raise capital by issuing new shares this fiscal year, following similar announcements by some of its private peers. The board of the state-run bank will discuss the proposal for fresh capital either through a follow-on public share sale, rights issue or qualified institutional placement on May 3, according to an exchange filing Tuesday. It did not disclose the amount of equity capital it plans to raise.
/jlne.ws/3RAZ1Xo
Fed's proposed SCB tweak would free $20bn of capital at US banks
Lorenzo Migliorato - Risk.net
A proposal by US regulators to smooth out year-on-year fluctuations in large banks' capital requirements would unlock $20.2 billion in capital, Risk Quantum analysis shows. On April 17, the US Federal Reserve proposed revisions to its annual stress test framework, including linking a bank's stress capital buffer (SCB) to the average Common Equity Tier 1 (CET1) capital depletion observed over the past two tests, rather than relying solely on the most recent results.
/jlne.ws/4jwVANR
Last Chance To Register: 6th Annual ETFGI Global ETFs Insights Summit - Europe & Africa In London On May 1st And Virtually May 2nd
Mondovisione
Register to join ETFGI on Thursday, May 1st at our 6th ETFGI Global ETFs Insights Summit - Europe & Africa at the London Stock Exchange & virtually on Friday, May 2nd. Register now! The event will begin with an opening bell-ringing ceremony at the London Stock Exchange to celebrate the 25th anniversary of the listing of the first ETFs in UK and Europe. This will be followed by a day of keynote and panel discussions featuring industry leaders from ETF issuers, regulators, investors concluding with a networking drinks reception. Virtual sessions will take place on May 2nd.
/jlne.ws/3Gy36cz
KKR and Capital Group seek to lure investors to private markets with new funds; Strategies will span loans, corporate buyouts, and infrastructure and property deals
Harriet Clarfelt and Antoine Gara - Financial Times
Capital Group and KKR are set to launch new funds spanning private loans, corporate buyouts, and infrastructure and property deals in the latest tie-up between big traditional asset managers and private capital firms. Los Angeles-based Capital Group - the world's biggest active asset manager - and private equity giant KKR have agreed to jointly offer a wide range of funds for individual investors that will mix traditional stocks and bonds with unlisted assets such as corporate takeovers.
/jlne.ws/4lWwPfC
|
| | | |
|
| |
| Work & Management | | Stories impacting work and more about management ideas, practices and trends. | ECB staff say bank promotes wrong people, survey finds; Employee poll reveals dissatisfaction with career paths at Frankfurt institution
Olaf Storbeck - Financial Times
The European Central Bank promotes staff who "know the right people" rather than those who perform well in their jobs, employees have claimed in a union survey. Just 19 per cent of ECB employees polled by the Ipso union believed that the central bank "does a good job of promoting the most competent people".
/jlne.ws/42wNmPE
U.S. accounting firms tap India to alleviate talent crunch
Sai Ishwarbharath B - Reuters
U.S. accounting firms including RSM US, Moss Adams, Bain Capital-backed Sikich and Apax Partners-backed CohnReznick are expanding their operations in India to tackle an acute shortage of accountants at home. The surge in recruitment has started boosting enrolment in specialised commerce courses in India, and could establish Asia's No. 3 economy as a hub for accounting talent, reminiscent of the 90s outsourcing boom that revolutionised the tech industry.
/jlne.ws/42QsyBl
|
| | | |
|
| |
| Wellness Exchange | | An Exchange of Health and Wellness Information | Financial stress can damage your mental health. These steps may help
Katia Riddle - NPR
The tens of thousands of federal workers who have been cut from their jobs are not the only ones dealing with financial uncertainty. With people afraid to look at their retirement accounts and others fretting about a possible recession and layoffs - fear around our individual and collective financial future can feel overwhelming. There's no denying having financial reserves helps people get through financial instability, but some research suggests there are other factors that matter as much - or in some cases more - when it comes to people's physical and mental health.
/jlne.ws/3YhRX5J
The 4 a.m. Wake-Up Is Not Just for Superman CEOs Anymore; In the quest to be ever more productive, the morning routines of American men hit new extremes
Sam Schube - The Wall Street Journal
In recent years, the 4 a.m. wake-up has been the domain of world-striding executives and businesspeople. Disney CEO Bob Iger famously begins his day with a predawn workout. Apple CEO Tim Cook famously deals with emails from customers before sunrise. "There's almost a kind of arms race between different executives and self-styled business leaders over who can claim the highest average workload," said Erik Baker, author of "Make Your Own Job: How the Entrepreneurial Work Ethic Exhausted America."
/jlne.ws/3SbHoNX
Climate Change May Worsen the Spread of Drug Resistant Infections, Study Warns
Karoline Kan - Bloomberg
Climate change may exacerbate the spread of infections that don't respond to common antibiotics, with developing nations being most at risk, according to a new study in Nature Medicine. The study challenges the notion that the rise of antimicrobial resistance, or AMR, is solely due to the overconsumption of antibiotics, putting a spotlight on factors such as healthcare spending, air pollution and raising temperatures.
/jlne.ws/4cTsZiV
|
| | | |
|
| |
| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | Alibaba co-founder Jack Ma implicated in intimidation campaign by Chinese regime
Maeve McClenaghan and Tom Burgis - The Guardian
The Chinese regime enlisted Jack Ma, the billionaire co-founder of Alibaba, in an intimidation campaign to press a businessman to help in the purge of a top official, documents seen by the Guardian suggest. The businessman, who can be named only as "H" for fear of reprisals against his family still in China, faced a series of threats from the Chinese state, in an attempt to get him to return home from France, where he was living. They included a barrage of phone calls, the arrest of his sister, and the issuing of a red notice, an international alert, through Interpol.
/jlne.ws/3ED9i2r
Longest foreign buying spree in nearly two years powers Indian markets
Bharath Rajeswaran and Indranil Sarkar - Reuters
Foreign investors extended their longest buying spree since July 2023 on Monday, fuelled by U.S. trade deal hopes, cheap corporate valuations, and India's relative resilience to global tensions, helping markets shrug off concerns over India-Pakistan frictions. Foreign portfolio investors (FPIs) pumped about $4.11 billion into Indian equities over the last nine sessions, lifting the benchmark Nifty 50 index by 6.6% for the period.
/jlne.ws/3EDeO59
OPINION: Japan's choice is to shape the global order or be shaped by it; With the US disengaged and China coercive, only Tokyo is in a position to preserve regional peace
Mike Burke - Nikkei Asia
As tensions rise across the Indo-Pacific, Japan faces a defining choice: Will it shape the new order -- or be shaped by it?
/jlne.ws/4jxa3JD
|
| | | |
|
| |
Disclaimer: All John Lothian Newsletters, JohnLothianNews.com, MarketsWiki.com and MarketsReformWiki.com are products of John Lothian News, a division of John J. Lothian & Company, Inc. The opinions expressed in all John J. Lothian & Company, Inc. publications are strictly those of their respective editors. They are intended solely for informative purposes and are not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy or trade in any commodities or securities herein named. Information is obtained from sources believed to be reliable, but is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. Security futures are not suitable for all customers. Futures and options trading involve risk. Past results are no indication of future performance. Nothing on any John J. Lothian & Company site should be considered an endorsement by any sponsor of any website or newsletter content.
© 2025 John J. Lothian & Company, Inc. All Rights Reserved. |
|
|
