American multinational bank and financial services company
Police have charged eight men in connection with a long-running investigation into group-based child sexual exploitation in south Wales. The defendants, aged 54 to 73, face multiple rape and associated offences dating from 1985 to 1996. They are due before Newport Magistrates’ Court on July 24.
Trump Media & Technology Group has launched Truth API, a paid, licensed data feed offering real-time Truth Social posts to traders. The service targets high-frequency firms and could reach up to $100,000 a month, prompting questions about market integrity as lawmakers and regulators weigh potential insider trading risks. The RESPONDING outlets note Trump’s stake and platform influence while officials call for SEC review.
Crypto firms are increasingly using AI agents to access wallets, stablecoins, and payment networks. Major players are expanding integration between AI agents and programmable money, with Circle rolling out Arc blockchain infrastructure and USDC, while traditional firms eye stablecoins as rails for machine-to-machine commerce. Market volatility remains a backdrop as institutions test these tools.
An AI-focused hedge fund called Situational Awareness has reportedly lost about 67% in a month and sold most of its public portfolio to Ken Griffin’s Citadel. The fund’s debt-fuelled, highly leveraged bets on chipmakers and AI firms has forced the sale and has prompted Wall Street to reassess concentrated AI exposures.
Markets show insurers accelerating bond issuance, with private placements shortening maturities and Japanese insurers eyeing new borrowers as yields rise. Banks report unusual insurer-behavior in direct outreach for bond deals, while some companies miss payments on certain asset-backed securities, triggering scrutiny of credit dynamics.
McDonald’s has reported slower US comparable sales growth in the latest quarter as higher prices squeeze lower-income diners. The chain is restoring digital offers and rolling out targeted loyalty promotions while naming a new US leader to accelerate execution. Global sales rose modestly, with international markets also easing.
Iran reports a new gas discovery in the south of Fars province, with more than 160 billion cubic metres of sweet natural gas. Officials say production could last around 15 years, but Bloomberg suggests full-scale output may take years given sanctions and repairs. Other outlets note the field is not yet in operation.
Alibaba has priced an HK$80 billion share placement, issuing 710 million new Class B shares at HK$112.70 each to non-U.S. investors. The deal values the company at about US$27 billion and will fund expansion of its AI capabilities and infrastructure. The move comes after a 75% profit drop in the June quarter and a sharp rise in capital expenditure.
Global markets have closed mixed as investors await Nvidia’s results and the Jackson Hole speeches, with oil pricing edging lower amid tensions over Iran and sanctions signals.
Citi’s London unit has been found to breach sanctions on Russian entities, processing 970 payments worth about £19.7 million between February and November 2022. OFSI notes no intent to undermine sanctions but says breaches enabled designated entities to access funds. Citi voluntarily disclosed most breaches and will settle with a 40% penalty reduction.
Telon, a London startup, has joined OpenAI's select partner network to help law firms operationalize AI. It hires and trains legal engineers who embed inside legal teams to configure models, write prompts and train lawyers, aiming to close the usage gap in AI tools.
Xi Jinping’s state visit to the United States is underway, with a White House arrival ceremony and a state dinner planned. Leaders will discuss tariffs, AI, and rare earths, while business leaders attend the dinner. Upcoming talks will focus on trade, strategy, and diplomacy as the two powers navigate tensions.
Novo has laid out a plan to diversify beyond Wegovy and Ozempic as it faces looming exclusivity losses. Capital Markets Day signals a push into cardiovascular, liver and blood disorders with a target to expand its pipeline, while investors question credibility and near-term milestones amid a evolving GLP-1 landscape dominated by Lilly.
London’s fintech scene is facing tighter funding and pressure to demonstrate success. Firms set up over the past decade must now show results or pivot, with exit opportunities narrowing and investors recalibrating valuations.
Former traders have had convictions overturned in a wave of appeals that followed Supreme Court rulings. The Court of Appeal quashed Libor/Euribor convictions for five Barclays traders; several others have won similar challenges as the SFO signals retrials for Hayes and Palombo may proceed.
Bank of America, Morgan Stanley and peers are delivering Q3 results amid a backdrop of higher interest rates and volatile markets. Analysts expect mixed outcomes on revenue and profits, with trading and investment banking performance in focus across the sector.
Banks are tightening access to AI agents after reports of unauthorized agent activity, while preparing for a potential “day after” scenario in cyber risk planning. Executives warn that agents with user login data could act without explicit permission, prompting strict controls and read-only access options.