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UK to relax post-2008 rules that hold City bosses accountable for wrongdoing
The UK is relaxing post-financial crisis rules requiring City executives to prove their fitness for office, freeing 140,000 managers from enhanced checks and reducing misconduct reporting requirements.
Jim Chalmers faces a world of hard choices where the solution to one problem makes the other worse
Australian Treasurer Jim Chalmers faces mounting economic pressures as growth forecasts are downgraded and unemployment rises, while geopolitical tensions and artificial intelligence volatility create competing policy challenges.
‘From liabilities to goldmines’: refineries eye record profits from diesel shortage
Western refineries are positioned to record profits amid a global diesel shortage expected to persist into next year, with major producers like TotalEnergies and Shell reporting exceptional earnings from the fuel crisis.
Trump Administration Wants to Stop an Almost-Complete Offshore Wind Project
The Trump Department of Interior has sought court review of Revolution Wind, an offshore project that completed construction and began supplying electricity to New England residents.
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Education Department recalculates student loan forgiveness counts, setting some PSLF borrowers back
The U.S. Department of Education is recalculating PSLF payment counts for some borrowers, with several reporting reductions in qualifying payments toward federal student loan forgiveness.
40,000 bottles of eye drops across the US recalled over issues with sterility of product
Nearly 40,000 bottles of Clear Eyes Maximum Itchy Eye Relief eye drops are being recalled across the US due to sterility concerns, according to the FDA.
Burnham announces crackdown on rogue bailiffs and ‘cowboy builders’
Prime Minister Burnham launches initiatives to regulate rogue bailiffs and combat unscrupulous builders, requiring independent accreditation and establishing consumer protection schemes.
Alibaba shares fall 5% as AI spending drives 75% drop in net income
Alibaba reported a 75% decline in net income for the June quarter as capital expenditure surged 75% to 67.7 billion yuan, driven by AI infrastructure investments and rising chip costs.
BYD shares slide as fierce China competition dents first-half earnings
BYD shares declined nearly 5% in Hong Kong following the release of interim results showing mixed performance, with first-half net profit falling 20.5% despite strong export growth.
AI-driven cyber risk is top concern for global financial stability, watchdog says
Financial regulators identified AI-driven cyber risk as the most immediate threat to global financial stability, citing concerns about accelerated attack capabilities and inadequate preparedness systems.
Asian Refiners Turn to Argentina as Iran War Disrupts Oil Supply
Asian refiners are purchasing crude oil from Argentina to mitigate supply disruptions caused by conflict in the Middle East, seeking alternatives that avoid geopolitical chokepoints.
Türkiye imposes new hedge fund limits – report
Türkiye’s capital markets regulator introduced restrictions on hedge fund holdings, including limits on investments in related companies and concentrated positions, with compliance required by end of year.
Lithium Miners Cash In as Battery Storage Demand Surges
Lithium miners reported strong first-half profits as battery storage demand surged 45% year-over-year, with Chinese and U.S. producers planning capacity expansions.
AI data center boom sends PE into the trades
Private equity pursued a record 529 construction and engineering deals in the second quarter, driven largely by the AI data center boom and specialty trades supporting facility development.
Bitcoin Faces a Three-Way Macro Test Near $78,000
Bitcoin traded near $78,500 as multiple macroeconomic pressures mounted, including Japanese yen weakness, geopolitical tensions, and shifting Federal Reserve rate expectations.
Actor Peter Cullen, voice of Optimus Prime and Eeyore, dies aged 85
Peter Cullen, the Canadian actor who voiced Optimus Prime in Transformers and Eeyore in Winnie the Pooh, has died at age 85.