| June 17, 2025 | "Irreverent, but never irrelevant" | | |  | John Lothian
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Hits & Takes
John Lothian & JLN Staff
We have had four more contributions to the Kilt Challenge: Ray Tubridy, Anonymous, Alistair and the team at Tower and Adam Hoffman. The online total is now 97,541 GBP.
EEX celebrated the 25th anniversary of its first trades, which took place on June 15, 2000, posting a video of the celebration on LinkedIn featuring its CEO, Peter Reitz, in a sparkly tuxedo jacket. However, the video has been replaced by a single image. In the video, Reitz was very grateful to employees, partners, and customers for 25 years of collaboration.
The Financial Times today published a "Special Report on Women in Business" that explores the evolving landscape for women leaders, highlighting both progress and persistent challenges across industries. Key features include the rise of "dad allies" in the UK, where men campaigning for more paternity leave are helping shift the childcare burden and support women's careers. The report looks into the booming $10bn Black hair industry the impact of political pushback on US diversity efforts under the Trump administration, and the surge in online abuse facing women business leaders. It also examines how trauma can shape career paths, why women's career success may increase the risk of divorce, and the urgent need for women to catch up in AI.
The 2025 Bonnaroo Music and Arts Festival, a beloved annual gathering in Manchester, Tennessee, was abruptly canceled this year due to severe weather and flooding. Heavy rainfall inundated the festival grounds, creating unsafe conditions for both attendees and staff and forcing organizers to evacuate the site and call off the remaining three days of performances. The decision, though heartbreaking for fans and organizers alike, was made in the interest of safety, with festival leadership expressing deep disappointment and gratitude for the community's understanding and resilience.
Bonnaroo has long been a cultural touchstone, drawing music lovers from across the country to experience headline acts and the unique camaraderie of the festival's "Bonnaroovian spirit." This year's lineup was set to feature major artists, but only Thursday's performances went ahead before the weather forced a halt to festivities. The cancellation is a reminder of the unpredictability of outdoor events and the delicate balance between tradition and the realities of climate and logistics.
Yet, Bonnaroo's impact extends far beyond music. In 2013, when Paul McCartney headlined the festival, my son Tim Lothian attended Bonnaroo with nine friends, my truck and loads of my precious camping gear and returned home with stories of seeing one of the original Beatles command the stage. His vivid description of that experience-witnessing a true rock star in action-sparked an idea in me. I realized that young people entering the financial markets, many now working as interns rather than as runners on bustling trading floors, deserved their chance to be inspired by the legends of their field.
That inspiration led to the creation of the MarketsWiki Education World of Opportunity program. Just as McCartney's performance moved Tim, I wanted to give interns in the financial industry the opportunity to hear from the "rock stars" of derivatives and capital markets, those who built the markets and those who are shaping them today. Bonnaroo, through the lens of a single unforgettable concert witnessed by Tim and the friends he took camping, helped to plant the seeds for a program that connected, educated, and inspired many of the next generation of market leaders. You can't wash that away with a few storms.
One of the reasons I stepped away from unit-level Scouting was that I could no longer manage it physically. I am not the strapping physical specimen I once was and I was done with sleeping on the ground. I have been rebuilt, retooled, and repaired, but those new parts are now on an older chassis. I am moved by the kindness so many people have shown me, recognizing I am somewhat limited in my robustness. The chassis is rusty and slow at times. Last night Mike O'Malley of Advantage Futures and Dan Smalley of Broadridge were just two who showed exceptional kindness to me. I appreciate their kindness and the kindness of so many others, including strangers. Thank you.
At a pub in London last night, our group engaged in conversation with another group that had attended an event at the Guild Hall across the street. When the discussion turned political and the "No Kings" issue was raised, I was asked directly if I was for or against a king. You all know the answer to that question, and my answer predates any particular politician currently in office. Every July 4th, in this newsletter, I publish the ultimate "No Kings" statement by including the words of The Declaration of Independence.
I also found it funny that on Saturday, while more than 2000 "No Kings" protests were going on around in the U.S., I was in the home of Scottish kings, the Heart of Lothian, Edinburgh.
Here are the headlines from in front of FOW's paywall from some recent stories: Deutsche backs delayed enforcement of European active account rules, BoE's Krosner calls for sharper focus on non-bank firms, FIA Lukken's welcomes industry resilience amid recent volatility, ICE, CME hit energy trading records as Gulf crisis roils markets, Euronext cuts deal with Clearstream to support repo clearing expansion and ANALYSIS: European single stock options would benefit from interoperability - Cboe.
Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality, and justice.~JJL
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Our most-read stories from our previous edition of JLN Options were:
- Big Tech's Furious Rally Forces Options Pros to Line Up Hedges from Bloomberg.
- Options traders don't expect spike in oil prices to last: Cboe from MarketWatch.
- This is nuts. When's the crash? from the Financial Times. ~JB
Subscribe to the JLN Options Newsletter HERE (it's free).
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 From Tractors to Transmitters: How Max Armstrong Became the Voice of America's Heartland JohnLothianNews.com ELMHURST, IL-(JLN)-June 17, 2025-Before Max Armstrong became a legend in farm broadcasting, he was just a boy on a sunbaked Indiana tractor, dreaming of air-conditioned radio studios. "I wanted to be on the radio from the age of seven or eight," Armstrong recalled. "I'd be out there in the heat of summer on one of those unairconditioned tractors, listening to that radio on the fender, thinking, 'That guy's in the air conditioning-he's got the job. I'm out here sweltering in the heat.'" Watch the Max Armstrong Video »
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William T. Bagley, CFTC's Beleaguered First Chairman, Dies at 96
Gabriel Baumgaertner - Bloomberg
William T. Bagley, a veteran California legislator who moved to Washington to preside over the chaotic first years of the Commodity Futures Trading Commission as its founding chairman, has died. He was 96. He died on June 9 at his home in San Rafael, California, said his wife, Diane. He had dementia for a number of years, she said.
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***** In our video interview of former FIA President John Damgard for The History of Financial Futures video series, he speaks about Bill Bagley and how he got the job as the first CFTC chairman. You can listen to the whole video or skip to the 2:27 mark. ~JJL
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A hedge fund manager's radical vision for a remote Scottish island; Plus, BlackRock's investor day, private markets lag US stocks, and Nancy Cadogan at the Garden Museum
Harriet Agnew - Financial Times
The tale of Tanera Mor
Ian Wace first saw the advertisement for the remote island of Tanera Mor in 2013. "It basically said, 'idiot required,'" the co-founder of hedge fund manager Marshall Wace recalls. But when he set foot on the island in north-west Scotland, overgrown with bracken, moss and brambles, with no proper roads, an abandoned herring station, and views out on to the immense ocean, "I just thought this was an extraordinary place".
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***** If you are looking to own a scenic Scottish island, check out Shuna Island, for sale for the first time in 80 years.
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Lutnick hails Trump's $5mn investor visa as almost 70,000 apply; Programme to grant foreigners legal residency in US in exchange registers 68,703 people on waiting list
Alex Rogers - Financial Times
Nearly 70,000 people have signed up for the new golden Trump Card, a visa scheme led by commerce secretary Howard Lutnick that will grant foreigners legal residency in the US at a cost of $5mn. Last week, Lutnick's department launched a website - trumpcard.gov - for would-be applicants to register their interest in the visa and to provide basic contact information, including their name, email address and region of the world. The card shown on the website features President Donald Trump's face and signature, as well as an eagle, the Statue of Liberty, and the American flag.
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***** I would love for that 70K number to be audited because I believe it as much as I believe Big Foot prefers Ethereum over Bitcoin.~JJL
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Monday's Top Three
Our top clicked item on Monday was a tie between the Just Giving page for the Mission (Im)possible: Kilt challenge, with which FIA Connect is raising money for Futures for Kids, and High-Speed Traders Slow Down, Matt Levine's opinion newsletter from Bloomberg. Second was It's normal for stocks to collapse 85 per cent, from the Financial Times. And third was The Market's Fear Gauge Spiked, but Wall Street Is Already Calming Down, from Barron's.
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| Lead Stories | Australia probes stock exchange over 'serious failures'; Inquiry comes after series of mishaps including prolonged outage in run-up to last Christmas
Nic Fildes - Financial Times
Australia's corporate regulator has launched an inquiry into the country's stock exchange operator over "repeated and serious failures" that it says have undermined confidence in the public markets. The Australian Securities and Investments Commission on Monday said it would examine the Australian Securities Exchange's governance and risk management practices after a series of mishaps including a botched upgrade to its clearing and settlements systems and a prolonged outage in the run-up to Christmas last year. Shares in the exchange operator fell 6 per cent following the news.
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More of Wall Street Is Following Ken Griffin South; On the premiere episode of the Bloomberg Originals series Bullish with Sonali Basak, we show just how big South Florida is getting.
Sonali Basak - Bloomberg
In the years since billionaire Ken Griffin pulled up stakes and led Citadel and his market-making firm Citadel Securities to South Florida, more hedge fund managers have followed in his wake. Maybe it's the sunny weather. Maybe it's the allure of lower taxes and lighter regulation. Or more recently, maybe it's simply proximity to Donald Trump's Mar-a-Lago compound, where the president's adjutants and hangers-on mix with hedge fund kingpins and financiers, striking deals in darkened private clubs and on verdant golf courses. In the premiere episode of the new Bloomberg Originals series Bullish with Sonali Basak, we pull back the curtain on this momentous shift in financial power from Wall Street to South Florida, showing how it happened and whether it has legs.
/jlne.ws/3TymtoV
India's NSE Shifts Expiry Day in Derivatives Turf War With BSE
Savio Shetty and Chiranjivi Chakraborty - Bloomberg
The National Stock Exchange of India Ltd. said it has received the market regulator's approval to move all its derivatives expiries to Tuesday from Thursday, marking the latest shake-up in the world's largest market for the contracts. The decision came shortly after smaller rival BSE Ltd. announced a similar approval from the Securities and Exchange Board of India to shift its expiries to Thursday. Both exchanges will implement the changes from Sept. 1, according to separate statements.
/jlne.ws/4jZTYLP
London's Credit Market Dries Up as UK Plc Raises Debt Abroad
Tasos Vossos - Bloomberg
The City of London has had to contend with a lot in recent years, from Brexit to a lack of stock listings. Its latest setback is the rapid decline of the sterling corporate bond market. An index tracking the size of the sterling market is set to suffer one of its largest-ever drops this month. While sales have been struggling for years, the latest slump shows how even British corporate borrowers are turning their back on it - the share of their 2025 issuance in sterling is heading for the lowest in 14 years.
/jlne.ws/405khZQ
Barclays Says Credit Trades Clustering at Close Are a Head Fake
Lu Wang - Bloomberg
Barclays Plc is challenging claims that the rise of passive investing is distorting the bond market, arguing there's an alternative explanation for why credit trades are clustering around the end of the day. Strategists at the bank including Zornitsa Todorova published a note this week saying the widespread use of a type of transaction known as delayed Treasury spotting more likely accounts for the shift.
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This is Europe's 'global euro' moment; But greater international prominence will not happen by default - it must be earned
Christine Lagarde - Financial Times
We are witnessing a profound shift in the global order: open markets and multilateral rules are fracturing, and even the dominant role of the US dollar, the cornerstone of the system, is no longer certain. Protectionism, zero-sum thinking and bilateral power plays are taking their place. Uncertainty is harming Europe's economy, which is deeply integrated in the global trading system, with 30mn jobs at stake. But the shift under way also offers opportunities for Europe to take greater control of its own destiny and for the euro to gain global prominence. At present, the euro is the world's second most-used currency, accounting for 20 per cent of global foreign exchange reserves, compared with 58 per cent for the US dollar.
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Acting Chairman Caroline D. Pham on Passing of Former Chairman Bagley
CFTC
Commodity Futures Trading Commission acting Chairman Caroline D. Pham today issued the following statement on the passing of the Hon. William T. Bagley, the CFTC's first chairman: "Chairman Bagley was instrumental in laying the foundation for what has become the world's preeminent derivatives regulator. As the first CFTC chairman, he shepherded our agency through its first years, executing on once-novel Congressional authorities and establishing a regulatory framework to expand risk mitigation tools for America's growers, producers, builders and merchants. Fifty years after Chairman Bagley first opened the doors at the CFTC, this framework continues to be critical in driving the American economy forward. We celebrate Chairman Bagley's life and legacy and owe him a debt of gratitude for his years of service to our markets, our economy, and our Nation. On behalf of the entire CFTC community, I extend my condolences to Chairman Bagley's family.
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Billionaire Gerko Takes Trader Profit Tax Appeal Over to UK's Top Court
Jonathan Browning - Bloomberg
Billionaire Alex Gerko, one of the UK's largest taxpayers, took a legal challenge to the country's highest court arguing that British tax authorities were seeking to impose "massive double taxation" on deferred trading profits. The XTX Markets Ltd. founder is at the UK Supreme Court this week over the tax treatment of a deferred payment plan while he was still running high-frequency trading strategies at GSA Capital Partners between 2010 and 2015. Judges ruled last year that Gerko and other traders should pay income tax on their share of the trading profits from the fund. The total size of the tax bill is some £22.5 million ($30.5 million).
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What happens when European firms go west? No matter where you run, you just end up running into yourself
Toby Nangle - Financial Times
The exodus of firms from London's capital markets has been a perennial worry. Not only to those who make their living out of peddling professional services, but also to His Majesty's Government. After all, a hollowing out of UK capital markets could increase the cost of equity capital for British firms, shift their centre of senior management gravity out of the country, and hurt the tax base. A new round of soul-searching has been initiated by the news that Wise - a British fintech firm, and London's largest-ever tech listing - is planning to switch its primary listing to New York. And yup, having a homegrown firm snub the prospect of FTSE 100 inclusion in favour of retaining a dual listing in perpetuity has got to sting a little.
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Crypto group Tron to go public after US pauses probe into billionaire founder; Deal involving Justin Sun's digital asset venture orchestrated by investment bank linked to Trump's sons
George Steer and Philip Stafford - Financial Times
Crypto billionaire Justin Sun's digital asset platform Tron is set to go public in the US, four months after market regulators agreed to pause a fraud investigation into several of his companies. Tron will go public in a reverse merger with Nasdaq-listed SRM Entertainment in a deal orchestrated by Dominari Securities, a New York-based boutique investment bank with ties to Donald Trump Jr and Eric Trump, according to two people briefed on the matter.
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OpenAI is going big into government tech
Katherine Li - Business Insider
OpenAI is amping up its collaboration with the US government. The US Department of Defense said Monday that OpenAI was awarded a $200 million contract to develop AI tools for military and national security applications, primarily in the National Capital Region, which includes Washington, DC. "Under this award, the performer will develop prototype frontier AI capabilities to address critical national security challenges in both warfighting and enterprise domains," said the Department of Defense.
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The stock market's secret weapon: Insatiable demand from American retirement accounts
Jennifer Sor - Business Insider
For US households, there's still no alternative to the stock market. The TINA trade in stocks - which stands for There Is No Alternative - was thought to be waning in recent years as rising interest rates since 2022 boosted bond yields for the first time in years, giving investors another option to lock in steady returns. However, TINA appears to be back in full swing, and the impulse is particularly strong in US retirement accounts like 401(k)s, Goldman Sachs analysts wrote in a recent note. Strategists at the bank pointed to red-hot demand for stocks in US retirement accounts, with total 401(k) allocations to equities in the US swelling to $8.9 trillion in 2024.
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Trump's anti-DEI wave extends to Juneteenth celebrations as corporate sponsors pull out of major events
Nadia Lathan - The Associated Press
Juneteenth celebrations have been scaled back this year due to funding shortfalls as companies and municipalities across the country reconsider their support for diversity, equity and inclusion initiatives. Canceled federal grants and businesses moving away from so-called brand activism have hit the bottom line of parades and other events heading into Thursday's federal holiday, which celebrates the end of slavery in the United States. The shrinking financial support coincides with many companies severing ties with LGBTQ celebrations for Pride this year and President Donald Trump's efforts to squash DEI programs throughout the federal government.
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UK Banks Are Set for More Consolidation, JPMorgan Analyst Says
Neil Campling - Bloomberg
Larger UK banks are likely to go into acquisition mode as they benefit from expanding deposit margins, with smaller rivals looking like attractive targets, according to analysts at JPMorgan Chase & Co. "Consolidation is the natural path given the trajectory of margins," analysts led by Sheel Shah wrote in a note, highlighting NatWest Group Plc and HSBC Holdings Plc as best positioned for the trend, given their inorganic growth ambitions. On the flip side, the mortgage portfolios of Metro Bank Holdings Plc and Bank of Ireland Group Plc are potentially attractive, along with challenger banks, they said.
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Crypto Is Investing in Democrats to Advance Agenda in Congress
Teresa Xie and Steven T. Dennis - Bloomberg
Crypto companies are investing in Democrats as they seek to muscle an industry-friendly regulatory regime through Congress and ensure new laws persist after President Donald Trump leaves office. Cryptocurrency exchange Coinbase Global Inc. added David Plouffe, a former senior adviser to Kamala Harris' 2024 presidential campaign and Barack Obama aide, to its global advisory council last week. Meanwhile, stablecoin giant Tether Holdings SA recently registered Lilette Advisors, a firm founded by staffers for former President Joe Biden, as their lobbyist, according to public disclosures filed at the end of May. Ankit Desai, a partner of the firm who used to work for Biden, is listed as El Salvador-based Tether's only lobbyist in the registration.
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Goldman Ditches Ban on SPACs as Blank-Check Firms Stage Comeback
Sridhar Natarajan and Todd Gillespie - Bloomberg
Goldman Sachs Group Inc. is wading back into the market for SPACs three years after stricter regulatory scrutiny prompted a self-imposed ban on handling so-called blank-check companies. The investment bank is once again open to underwriting new deals for special-purpose acquisition companies, according to people with knowledge of the matter. The firm will evaluate potential deals on a case-by-case basis and may limit the sponsors it works with, one of the people said, asking not to be identified discussing private matters.
/jlne.ws/43NACov
America's New Language of Climate Denial; The Trump administration has moved from outright denying the science of global warming to simply dismissing it.
Eric Roston and Brian Kahn - Bloomberg
For years, President Donald Trump has denied the science behind global warming. Since the start of his second term, however, his administration has leaned less on climate denial and more on what might be called climate dismissal: diminishing, ridiculing or rejecting the idea that climate change is worth any effort to study or try to slow. They've engaged in what Jennifer Mercieca, a professor of communication and journalism at Texas A&M University, calls "frame warfare"-dramatically recasting the words used to describe a topic in an attempt to change people's perceptions. Whether the evidence for global warming is called "unequivocal," as scientists and governments agree that it is, or "crap," as the US defense secretary has called it, can shape a listener's likelihood to take action or obstruct it.
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| 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. | Carney says he and Trump are aiming for a Canada-US deal inside 30 days
David Ljunggren - Reuters
In a surprise move, Canadian Prime Minister Mark Carney said on Monday he had agreed with U.S. President Donald Trump that their two nations should try to wrap up a new economic and security deal within 30 days. The announcement came only a few hours after Canadian officials said the two sides still had plenty of work ahead before they could seal the agreement. Carney, who won the April election on the back of a promise to fight Trump's tariffs, is pushing for what he calls a new economic and security relationship with the United States. The two men had earlier met on the sidelines of a G7 summit in Alberta, with Trump reiterating his fondness for tariffs.
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Trump's Trade and Tax Policies Start to Stall U.S. Battery Boom; Battery companies are slowing construction or reconsidering big investments in the United States because of tariffs on China and the proposed rollback of tax credits.
Rebecca F. Elliott - The New York Times
Battery manufacturing began to take off in the United States in recent years after Congress and the Biden administration offered the industry generous incentives. But that boom now appears to be stalling as the Trump administration and Republican lawmakers try to restrict China's access to the American market. From South Carolina to Washington State, companies are slowing construction or reconsidering big investments in factories for producing rechargeable batteries and the ingredients needed to make them.
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| World Conflicts | | News about various conflicts and their military, economic, political and humanitarian impact. | Ukraine Invasion
Russia demands that Ukraine destroys all western weaponry
Joe Barnes - The Telegraph
Russia has made fresh demands for Ukraine to destroy all of its Western weaponry as the price of peace. Alexander Grushko, a Russian deputy foreign minister, said: "All these surpluses must be destroyed. All international algorithms are known. They must be reduced, disposed of, and guaranteed." His ultimatum is the latest in a series of maximalist demands tabled by Moscow in talks over the end of its three-year invasion.
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Ukraine war briefing: Russian drone factory attacked, 1,000km away in Tatarstan
Warren Murray and agencies - The Guardian
File photograph of wreckage from what Ukrainian authorities described as a Shahed drone downed in Ukraine.Photograph: Ukrainian military's Strategic Communications Directorate/AP
Ukraine's military said on Sunday it had attacked a Russian drone factory in the city of Yelabuga in Russia's Tatarstan region. The target is around 1,000km from Ukraine. The Ukrainian military general staff said the factory produced, tested, and launched drones at Ukraine, in particular against energy and civil infrastructure. Videos on social media showed an explosion said to be at the factory in Yelabuga, also known as Alabuga, which builds Iranian-designed Shahed drones. The Russian local governor confirmed the attack.
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Russia Is Churning Out Attack Drones. Ukraine Is Feeling the Impact.; Moscow's drone strikes have grown exponentially in part because of a deal with Iran to produce its Shahed drones in Russia; overnight attack leaves 15 dead
Jane Lytvynenko - The Wall Street Journal
KYIV, Ukraine-Russia's mass production of attack drones is raining fear across Ukrainian cities. Moscow sent as many long-range attack drones against its neighbor in the first two weeks of June as it did during whole months last year, straining the country's air defenses and undermining President Trump's attempts to secure a peace deal. A statistical analysis by the Center for Information Resilience, a U.K.-based open-source investigations organization, found that Russia, after cranking up production, has launched nearly 20,500 attack and decoy drones in 2025 so far.
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Ukraine Arms Supplies Can Stretch Into 2026, Czech Minister Says
Krystof Chamonikolas - Bloomberg
The Czech Republic's top diplomat said his country is prepared to extend its program to deliver heavy ammunition to Ukraine into next year as Europe rushes to bolster support to Kyiv. Czech Foreign Minister Jan Lipavsky said the nation's effort to procure ammunition globally backed by allied funding has been a "game changer" on the battlefield. In an interview in Prague, he said Ukrainian forces now had about one round for every two fire by Russia, up from a 1-to-10 ratio at the start of the war in February 2022.
/jlne.ws/45rPqu1
Middle East Conflict
Trump refuses to sign G7 statement amid split over Iran
Rob Crilly - The Telegraph
Organisers have gone out of their way to set an agenda and schedule that would reduce the chances of Mr Trump, a famously unpredictable leader, going rogue. However, Mr Trump used his opening remarks with Mark Carney, the Canadian prime minister, to indicate support for Russia and China one day being part of the G7. The US President said it was a "very big mistake" to kick Russia out of the then G8 and claimed Russian President Vladimir Putin was "very insulted". He also said China joining was "not a bad idea". But the Prime Minister's official spokesman took a different tone, saying that Sir Keir was "happy with the make-up" of the current G7.
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How Israel's Iran strikes might supercharge the global nuclear arms race; The stated intention of the attacks was to stop Iran from building a bomb. Some experts worry it may have the opposite effect.
Alexander Smith - NBC News
Israel says it first bombed Iran to stop it from being able to produce nuclear weapons and the "existential threat" they would represent. But the conflict may in the long run serve the opposite purpose: illustrating to Tehran and other nuclear-aspirant nations that nuclear weapons are essential in shielding them against attack. Countries such as North Korea already pointed to Libya, whose leader, Moammar Gadhafi, gave up his nascent weapons program but was toppled anyway in 2011 after a NATO intervention. That's one of the reasons Pyongyang has developed its own arsenal - which is believed to have San Francisco and other U.S. cities within range - to protect itself against attempts at Western-backed regime change.
/jlne.ws/4jXbVdL
Iran sought US pressure on Israel for ceasefire via Gulf states, sources say
Parisa Hafezi, Samia Nakhoul and Andrew Mills - Reuters
Tehran has asked Qatar, Saudi Arabia and Oman to press U.S. President Donald Trump to use his influence on Israel to agree to an immediate ceasefire with Iran in return for Iranian flexibility in nuclear negotiations, two Iranian and three regional sources told Reuters on Monday. Gulf leaders and their top diplomats worked the phones all weekend, speaking to each other, to Tehran, Washington and beyond in an effort to prevent a widening of the biggest ever confrontation between longstanding enemies Israel and Iran.
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Israeli Startup Hub Under Missile Fire; Explosions in Tel Aviv have hit homes of startup employees, but business is largely uninterrupted
Yuliya Chernova - The Wall Street Journal
On Friday, Ron Reiter's apartment building in Tel Aviv suffered a direct hit by an Iranian ballistic missile. The high-rise was just a five-minute walk from the new office of Sentra, a data-security startup where Reiter is a co-founder and chief technology officer. He was excited about that proximity last week during the office move-in. Reiter, who wasn't home at the time of the blast, is now looking for another place to live.
/jlne.ws/4e71SBP
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| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | MarketAxess Becomes First Platform to Provide Fully Electronic Workflow for the Trading of Indian Government Bonds to International Investors; Addition of India further expands MarketAxess' leading Emerging Markets (EM) offering
MarketAxess
MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced the launch of the first fully electronic trading solution for Indian Government Bonds (IGBs) for Foreign Portfolio Investors (FPIs). MarketAxess announced the launch of the first fully electronic trading solution for Indian Government Bonds for Foreign Portfolio Investors.
/jlne.ws/4l7keEO
Launch of Spot-Quoted Futures - Effective June 30, 2025
Pending regulatory review, CME Group will be launching Spot-Quoted Futures on six markets on June 30, 2025: S&P 500, Nasdaq-100, Russell 2000, Dow Jones Industrial Average, Bitcoin and Ether ... Spot-Quoted Futures function identically to Trade-at-Marker (TAM) trades
/jlne.ws/44iY5xU
25 Years of EEX
EEX
On 15 June 2000, a small Leipzig-based power exchange - today's EEX - saw its first trade on the power spot market. Since then, this exchange has grown into a global network of companies offering trading and clearing for energy and commodities, spanning Europe, Asia, America and Australia - the wider EEX Group. Over the past quarter of a century, we have continuously expanded our product range, trading volumes, customer base and number of locations. From power to emissions, natural gas to freight, guarantees of origin and soon hydrogen, we have built a diverse and innovative marketplace. Today, EEX operates energy and commodity markets worldwide, having become the largest power exchange with its trading venues in Europe and beyond.
/jlne.ws/442fVnt
ICE Launches Average Prime Offer Rates (APOR) Index
ICE
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced the launch of the ICE Average Prime Offer Rates Index (ICE APOR), which is updated weekly on the ICE Index Platform and publicly available. The ICE APOR Index represents the annual percentage rates derived from average interest rates, points, fees and other terms on mortgages that are offered to consumers. ICE APOR uses the same data from ICE Mortgage Technology's loan origination system, Encompass®, that the Consumer Financial Protection Bureau (CFPB) uses as the foundation of the weekly APOR rates it calculates and publishes.
/jlne.ws/4l2wTJo
FTSE Russell launches FTSE Canada Bank Credit Spread Index
LSEG
FTSE Russell today announces the launch of the FTSE Canada Bank Credit Spread Index; an innovative benchmark designed to capture the dynamics of Canadian corporate credit risk. The FTSE Canada Bank Credit Spread Index captures the yield differential, or spread, between a reference basket of Canadian Bank bonds and their benchmark Government of Canada securities, as a measure of Canadian financial sector credit risk. The new index offers insights into credit risk dynamics within the Canadian investment grade market, facilitating informed decision making for investors.
/jlne.ws/3HDr7j4
Performance Bond Requirements: Agriculture - Effective June 17, 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. The rates will be effective after the close of business on June 17, 2025.
/jlne.ws/43ZnzyT
Effective Dates for Spot Month Position Limits in the August 2025 CME, CBOT, NYMEX and COMEX Core Products
CME Group
/jlne.ws/3FT6Wx0
Nasdaq Announces Results from 2025 Annual Meeting of Shareholders
Nasdaq
Nasdaq, Inc. (Nasdaq: NDAQ) shareholders elected all nominated directors at the company's Annual Meeting of Shareholders on Wednesday, June 11, 2025. All directors will serve one-year terms.
/jlne.ws/3ZvDNi4
NGX Group, SEC pursue capital market diplomacy to deepen Nigeria-China financial ties
NGX
In a strategic move to position Nigeria's capital market as a catalyst for cross-border investments, Nigerian Exchange Group Plc (NGX Group) and the Securities and Exchange Commission (SEC) have reaffirmed their commitment to fostering cross-border capital market partnerships. Their current engagements in China reflect a broader drive to strengthen Nigeria's connectivity to global financial markets and attract new investment flows. This commitment was demonstrated at the China-Africa CEO Dialogue, organised by Choice International Group in strategic collaboration with NGX Group. The event took place on the sidelines of the 4th China-Africa Economic and Trade Expo in Changsha, where NGX Group, SEC, and other leading African institutions engaged Chinese corporates, regulators, and financial institutions to explore mutually beneficial partnerships.
/jlne.ws/40bH0Dx
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| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | Trading Technologies Launches Pre-Trade Portfolio Risk Functionality for TT Platform; New offering replicates clearing house methodologies to mitigate risk, facilitate more trading opportunities
Trading Technologies
Trading Technologies International, Inc. (TT), a global capital markets technology platform services provider, has launched Pre-Trade Portfolio Risk on the TT platform, bringing new protections to sell-side clients and facilitating increased trading opportunities for end-users. TT announced the new offering leading into the FIA IDX conference today in London.
/jlne.ws/3QhENRK
Artificial Intelligence
Women are lagging behind on AI but they can catch up; Curiosity, experimentation and learning are crucial if women are to shape the future of work
Isabel Berwick - Financial Times
Women are more likely than men to be in jobs at risk of being automated, but are also 25 per cent less likely than men to have basic digital skills, separate studies show. The findings, from the International Labour Organization and the UN respectively, highlight an urgent challenge for women across the world. The artificial intelligence-driven industrial revolution ought to offer a unique opportunity for everyone to shape the future of work, but many women are already behind.
/jlne.ws/3HLnR5i
Reddit unveils AI-driven ad tools to help brands tap into user discussions
Reuters
Reddit launched two new AI-powered advertising features on Monday aimed at helping brands drive greater engagement by tapping user conversations on the platform, the company said. The company said its AI-driven tool, "Reddit Insights powered by Community Intelligence", would provide real-time insights to marketers for planning campaigns by identifying trends on the platform and testing campaign ideas.
/jlne.ws/4jQKMsX
Quarterly Reports Are Written for AI; My study shows that companies are appealing to algorithms, not only investors.
Keren Bar-Hava - The Wall Street Journal
Every quarter, public companies publish a section of their financial report called Management Discussion and Analysis, or MD&A. It's where management explains the financial results in plain language-what happened, why it happened and what might come next. The annual report's version is the most detailed, often written or approved by the board itself. But something has changed. These reports are no longer written only for investors. They are now crafted with algorithms in mind.
/jlne.ws/43Lqoov
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| Cybersecurity | | Top stories for cybersecurity | Hackers are sneaking malware into your browser using Google's link, and antivirus software can't stop it
Efosa Udinmwen - techradar
A new browser-based malware campaign has surfaced, demonstrating how attackers are now exploiting trusted domains like Google.com to bypass traditional antivirus defenses. A report from security researchers at c/side, this method is subtle, conditionally triggered, and difficult for both users and conventional security software to detect. It appears to originate from a legitimate OAuth-related URL, but covertly executes a malicious payload with full access to the user's browser session.
/jlne.ws/4kJAkET
FBI Tells iPhone Users 1 Text Message to Delete Immediately
Matt Hladik - Men's Journal
The FBI has issued a new warning for iPhone users regarding a text-message scam that has been bombarding users lately. According to Forbes, messaging attacks on iPhone and Android are up more than 700% this month. One malicious text that has been making the rounds involves bad actors posing as the Department of Motor Vehicles (DMV) and demanding money for unpaid tolls or fines at the threat of possible loss of license or jail time. These DMV texts are more dangerous than the previous unpaid toll messages that have been popping up on people's phones for more than year, according to Guardio.
/jlne.ws/3FYUziW
Opinion - Boomers are getting scammed for billions online - here's how to break the cycle
Yuksel Aydin, opinion contributor - The Hill
Last year, Americans over the age of 60 lost nearly $5 billion to online scams. This is an all-time high and a 43 percent jump from 2023, according to the FBI. Those over 60 suffer the largest financial losses of any age group, and the number of complaints is growing. This is not a temporary issue, but a persistent national crisis. The scale is vast, with more than 147,000 victims in 2024 alone, averaging $83,000 in losses per victim. Yet elder fraud rarely receives the national coverage it deserves. While headlines follow ransomware attacks on corporations, the daily, grinding exploitation of our parents and grandparents unfolds largely in silence.
/jlne.ws/44fXehr
Washington Post Probes Hack of Journalist Email Accounts
Mark Anderson and Jane Lanhee Lee - Bloomberg
The Washington Post is investigating a cyberattack on the email accounts of some journalists, prompting the newspaper to beef up its online security. The intrusion was discovered late Thursday and the company carried out a forced reset of login credentials for all staff the following night, according to a memo sent by Executive Editor Matt Murray to affected employees on Sunday. The memo, reviewed by Bloomberg News, said the attack affected a limited number of email accounts of journalists and a forensic team had been brought in to investigate.
/jlne.ws/3HIdHlP
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| Cryptocurrencies | | Top stories for cryptocurrencies | JPMorgan Files Trademark for Digital Asset Platform as Wall Street's Crypto Embrace Continues
Krisztian Sandor - CoinDesk
Global banking giant JPMorgan Chase has filed a trademark application for a new crypto-focused platform branded as JPMD, signaling that the bank is pushing deeper into digital assets. According to the application filed on Sunday to the U.S. Trademark and Patent Office, JPMD will offer services such as "providing trading, exchange, transfer, and payment services for digital assets" and "issuance of digital assets."
/jlne.ws/4k3XHrW
Vietnam Passes Landmark Law Recognizing Crypto Assets
Francisco Rodrigues - CoinDesk
Vietnam passed a law officially recognizing digital and crypto assets, taking a decisive step toward regulating and promoting the cryptocurrency economy. The Digital Technology Industry Law was passed on June 14 and takes effect Jan. 1, 2026. It outlines a broad framework for managing digital assets and fostering blockchain innovation, according to local media.
/jlne.ws/44hmPXg
Coinbase faces crypto backlash over sponsoring military parade in D.C.
Catherine McGrath - Fortune
As the first large-scale military parade in decades made its way down the streets of Washington, D.C., on Saturday, organizers gave thanks to the country's men and women in uniform-and also to various corporate sponsors, including the giant crypto exchange Coinbase. Not everyone was comfortable with the spectacle of the crypto industry-which was founded in opposition to government power-being so closely aligned with a display of force by the U.S. Kara Calvert, Coinbase's vice president of U.S. policy, represented the company at the parade.
/jlne.ws/4ld68SI
Bitcoin
Pakistan Engages Michael Saylor in Bold Push Toward Bitcoin-Backed Economy
James Van Straten - CoinDesk
Pakistan has taken a significant leap toward integrating digital assets into its economic roadmap by hosting bitcoin BTC advocate Michael Saylor, Executive Chairman of Strategy (MSTR). In a high-profile meeting with Finance Minister Muhammad Aurangzeb and Minister of State for Crypto and Blockchain Bilal Bin Saqib, discussions centered around positioning bitcoin as a sovereign-grade asset to bolster Pakistan's monetary resilience and digital future
/jlne.ws/3FGTNal
Stablecoins
JPMorgan Chase files for blockchain-related trademark, triggering speculation it has stablecoin plans
Catherine McGrath - Fortune
The country's biggest bank has applied for a trademark related to digital currency with the United States Patent and Trademark Office (USPTO). The move has led some to speculate the application for "JPMD" reflects the bank's growing interest in stablecoins-a type of cryptocurrency that is designed to maintain a value in line with the U.S. dollar. The application was filed by JPMorganChase on June 15, according to the USPTO's website. The application listed "JPMD" as a good or service that would provide "trading, exchange, transfer and payment services for digital assets," among other categories related to cryptocurrencies and blockchain technology.
/jlne.ws/4n1pSdH
Stablecoins to Evolve Into 'Money Rail of Internet' Once GENIUS Act Is Passed: Bernstein
Will Canny - CoinDesk
The Senate's GENIUS Act, a key piece of U.S. stablecoin regulation, is to be voted on this week and should be passed into law in the next few months, Wall Street broker Bernstein said in a research report Monday. Stablecoins are cryptocurrencies whose value is tied to another asset, such as the U.S. dollar or gold. They play a major role in cryptocurrency markets, providing among other things a payment infrastructure, and are also used to transfer money internationally.
/jlne.ws/445ELmy
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| Politics | | An overview of politics as it relates to the financial markets | U.S. Administration
US judge orders Trump to reinstate fired product safety commissioners
Mike Scarcella - Reuters
A federal judge on Friday ruled that the Trump administration unlawfully removed three Democratic members of the U.S. Consumer Product Safety Commission and ordered the agency to reinstate them. U.S. District Judge Matthew Maddox in Maryland said in his ruling that Republican U.S. President Donald Trump's administration overstepped its authority when it dismissed commissioners Mary Boyle, Alexander Hoehn-Saric and Richard Trumka Jr.
/jlne.ws/3SUOAhV
Trump officials reverse pause on immigration raids targeting farms and hotels
Josh Marcus - The Independent
The Trump administration is reportedly reversing a recently formulated plan to refrain from conducting immigration raids against undocumented migrants in the agricultural, hotel, and restaurant industries, just days after adopting the original policy. The Department of Homeland Security announced the return to raids on such workers on a Monday morning call with representatives from 30 Immigration and Customs Enforcement field offices, The Washington Post reports.
/jlne.ws/45mHwSJ
Wisconsin dairy farmer sues Trump administration claiming discrimination against white farmers
Scott Bauer - AP
A Wisconsin dairy farmer alleged in a federal lawsuit filed Monday that the Trump administration is illegally denying financial assistance to white farmers by continuing programs that favor minorities. The conservative Wisconsin Institute for Law and Liberty filed the lawsuit against the U.S. Department of Agriculture in federal court in Wisconsin on behalf of a white dairy farmer, Adam Faust.
/jlne.ws/3SWEa1l
Other U.S. Politics
Business Lobbyists Scramble to Kill $100 Billion 'Revenge Tax'; Critics contend that the measure will scare off the foreign investment that President Trump wants to attract.
Alan Rappeport and Colby Smith - The New York Times
Business lobbyists are working to kill a measure in the Republican tax policy legislation that would punish companies based in countries that try to collect new taxes from American firms. The push comes as Senate Republicans are preparing to unveil their domestic policy bill on Monday, which will ultimately need to be passed and merged with the legislation that the House passed last month. That bill imposes a so-called revenge tax on foreign companies that try to enforce the terms of a 2021 global minimum tax agreement or impose digital services taxes on American technology companies.
/jlne.ws/43N7k9w
Exclusive: Congressman Tim Moore failed to properly disclose hundreds of thousands of dollars worth of personal stock purchases made around Trump's 'Liberation Day' in a potential STOCK Act violation
Dave Levinthal - Fortune
Rep. Tim Moore (R-N.C.) appears to have missed a required disclosure deadline under a federal transparency law, failing to properly disclose hundreds of thousands of dollars worth of personal stock purchases he made immediately before or after President Donald Trump's April 2 "Liberation Day" tariff declaration, according to congressional financial records reviewed by Fortune.
/jlne.ws/4kUdavJ
Russia
Trump Says Kicking Russia Out Of G7 Was A 'Very Big Mistake'
Kate Nicholson - HuffPost
President Donald Trump speaks during a meeting with Canada's Prime Minister Mark Carney on the sidelines of the G7 Summit, Monday, June 16, 2025, in Kananaskis, Canada. via Associated Press
Donald Trump has claimed that kicking Russia out of the G7 was a "very big mistake" which helped pave the way to the ongoing Ukraine war. Russia was part of the "group of eight" (G8), an intergovernmental political forum, up until 2014 when it was expelled for annexing the Ukrainian peninsula of Crimea. But, according to the US president, that was a major mistake made by former US president Barack Obama and former Canadian prime minister Justin Trudeau.
/jlne.ws/441V8jV
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| Regulation & Enforcement | | Stories about regulation and the law. | Federal bank regulatory agencies seek comment to address payments and check fraud
Federal Deposit Insurance Corporation, Federal Reserve Board, Office of the Comptroller of the Currency
The federal bank regulatory agencies today announced a request for comment on potential actions to help consumers, businesses, and financial institutions mitigate risk of payments fraud, with a particular focus on check fraud. For purposes of the request for information, payments fraud generally refers to the use of illegal means to make or receive payments for personal gain, including scams.
/jlne.ws/45r13By
The Dubai Financial Services Authority Begins Engagement With Firms Selected For Its Tokenisation Regulatory Sandbox, Reinforcing Its Commitment To Responsible Innovation In The DIFC
Mondovisione
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), today announced the next phase of its Tokenisation Regulatory Sandbox, beginning engagement with firms selected to join its Innovation Testing Licence programme - the DFSA's regulatory sandbox that allows entities to test innovative financial products and services under a controlled environment.
/jlne.ws/45Xdqp0
Federal Court Orders Texas Firm to Pay Over $100 Million to Customers Defrauded in Cattle Fraud Scheme; Firm's Co-Founders Ordered to Disgorge Over $2.2 Million in Unlawful Gains
June 16, 2025
CFTC
The Commodity Futures Trading Commission today announced the U.S. District Court for the Northern District of Texas entered a final judgment and consent order imposing a permanent injunction and equitable remedies against Agridime LLC, a Texas firm now in receivership. The consent order requires Agridime to pay $102,936,904 in restitution and permanently enjoins Agridime from engaging in conduct that violates the Commodity Exchange Act and CFTC regulations, as charged, and permanently bans Agridime from registering with the CFTC and from solicitating and trading in any CFTC-regulated markets.
/jlne.ws/4e3DyAB
Acting Chairman Caroline D. Pham on Passing of Former Chairman Bagley
CFTC
Commodity Futures Trading Commission acting Chairman Caroline D. Pham today issued the following statement on the passing of the Hon. William T. Bagley, the CFTC's first chairman:
/jlne.ws/409ZhB7
Improving protection for people who use credit
ASIC
Keynote address by ASIC Commissioner Alan Kirkland at the Australian Finance Industry Association (AFIA) Risk Summit in Surfers Paradise on 17 June 2025.
/jlne.ws/3HIorR8
Trading venues seen as easiest targets for Esma supervision
Samuel Wilkes - Risk.net
Industry sources think trading platforms are the regulated entities most likely to be brought under centralised supervision by the European Union, as part of long-running efforts to energise the bloc's capital markets. "I think venues are probably the easiest, because we don't have the prudential aspects that the post-trade firms do and we don't have the retail element in the same way as funds do,"
/jlne.ws/40825Ph
Upper Tribunal ruling in the case of Craig Donaldson and David Arden
FCA
The Upper Tribunal has upheld the FCA decision that Craig Donaldson and David Arden, former chief executive (CEO) and chief financial officer (CFO) of Metro Bank (Metro), were knowingly concerned in a breach of the Listing Rules.
/jlne.ws/444NC7M
A speech on "Remarks on priorities for developing capital markets" at the Eurofi High Level Seminar 2025
FSA
On April 10, 2025, ARIIZUMI Shigeru, Vice Minister for International Affairs, delivered a speech at the Eurofi High Level Seminar 2025. In his speech, he outlined Japan's policy plan for promoting Japan as a leading asset management center, while also addressing the common challenges faced by both Japan and Europe.
/jlne.ws/4ldHYrd
Publication of "FSA Analytical Notes (2025.5) "
FSA
As financial institutions' business environments and profit structures change, it is important to understand economic and market trends based on data, and to accurately grasp the business conditions of individual financial institutions and also the resilience and vulnerabilities of the financial system as a whole. From this perspective, the FSA has been focusing on the utilization of granular data, such as transaction-level bank loan data and financial data on individual corporations. Some case examples of data analyses using such granular data are published as a series of reports titled "FSA Analytical Notes."
/jlne.ws/3SWPNp1
Publication of "FSA Analytical Notes (2025.6) vol.2 "
FSA
The FSA published the Japanese version of "FSA Analytical Notes (2025.6) vol.2 ".
/jlne.ws/44kvnN5
Contribution of "Towards a more vibrant and resilient economy: A Japanese perspective" to the Eurofi Magazine
FSA
ARIIZUMI Shigeru, Vice Minister for International Affairs, contributed an interview article titled "Towards a more vibrant and resilient economy: A Japanese perspective" to the Eurofi Magazine published on April 12, 2025. This article outlines the IAIS's key priorities, energy transition, the implementation of Basel III, and Japan's initiatives promoting Japan as a leading asset management center.
/jlne.ws/45Y5iEM
IOSCO announces themes for its 9th edition of World
IOSCO
IOSCO's World Investor Week (WIW) is a week-long, global campaign to raise awareness of the importance of investor education and protection, and to highlight the various initiatives of securities regulators in these two critical areas.
/jlne.ws/461VdXt
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| Investing & Trading | | Today's top stories from equities, indices and FICC (fixed income, currencies and commodities) | Central banks favour gold over dollar for reserves, WGC survey
Reuters
Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed. Gold demand from central banks has risen significantly over the past three years despite its price rally to consecutive records. It hit an all-time high of $3,500.05 an ounce in April, up 95% since February 2022 when Russia invaded Ukraine. Seventy three central banks responded to WGC's survey, carried out between February 25 and May 20, and 76% of these expect their gold holdings to be higher in five years compared with 69% last year.
/jlne.ws/4leLRw1
Supply-demand forces are favouring equities over bonds; Stock market resilience simply reflects the fact that new share issuance remains very subdued
Robert Buckland - Financial Times
Over a career in equity research, I saw all sorts of theories used to predict moves in share prices. Most were ineffective. Maybe that's why I developed a begrudging respect for my colleagues in the commodity markets and their focus on a concept familiar to any undergraduate economist - demand versus supply. While technical pricing issues such as the timing of delivery of a commodity do come into play, the sector watchers mostly keep it simple. If demand exceeds supply, they forecast rising commodity prices. If supply exceeds demand, they forecast falls. In turn, these price moves send signals back to the market. Higher prices decrease demand and create investment in new supply. This eventually pushes them back down again. The opposite happens if prices fall.
/jlne.ws/4n4M06T
Central banks plan to boost gold reserves and trim dollar holdings; Geopolitical risks and worries about status of the greenback likely to drive further demand for bullion, survey shows
Leslie Hook - Financial Times
Central banks expect to keep buying more gold this year, and anticipate their holdings of US dollars will fall over the next five years, according to a survey of global monetary authorities. Geopolitical concerns, sanctions risk, and worries about the status of the US dollar have driven global central banks to make record purchases of bullion. Gold recently overtook the euro to become the world's second-largest reserve asset, behind the US dollar.
/jlne.ws/409BKAh
The Oil Price Spike That Wasn't; Global production is well placed to cope with Iranian disruption.
The Editorial Board - The Wall Street Journal
The big news in oil markets since Israel's attack on Iran's nuclear program is the price spike that wasn't. Brent crude popped from $66 a barrel or so to a high of $78 last week, but by Monday it was back below $73. The non-panic owes to ample global supply, and it's a lesson for Congress and the Trump Administration as they contemplate putting new sanctions on Russian oil exports.
/jlne.ws/4l8Mmrl
Rob Arnott's Firm Says the Time Is Finally Right for 'Smart Beta'; Research Affiliates, which once criticized the popular investing strategies, now sees growing value in them
Krystal Hur - The Wall Street Journal
Rob Arnott used to argue that the popularity of "smart beta" investing strategies often made the stocks they favored too expensive to actually buy. Now, his firm says the time is right. Analysts with Arnott's firm Research Affiliates now say there is value in smart beta, an investing approach that seeks to beat standard index funds' returns by allocating money based on factors that have shown a relationship over time with stock performance-such as sales growth, dividend payments or volatility. In a new paper titled "How Can 'Smart Beta' Go Horribly Right?" they found the funds are now inexpensive by historical measures and if they revert to the mean, "factor-based equity strategies could all have a field day."
/jlne.ws/409qZhk
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| Environmental, Social and Corporate Governance | | Stories about environmental, social and governance investing | US borrowers opt for 'greenhushing' of bond sales under Trump; Companies dispense with ESG projects or quietly fund them in contrast with Europe where activity remains above 2021 levels
Will Schmitt - Financial Times
US green bond sales have fallen since Donald Trump won a second term as president, as companies seek to avoid unwanted attention by backing away from or playing down their environmental activities. A total of $24.4bn in green bonds was issued in the US this year to the end of May, according to data from the Climate Bonds Initiative, down from $43.3bn in the same period last year and the lowest total in data going back to 2021.
/jlne.ws/44llG0M
The IBEX Gender Equality Grows To 58 Components After The Entry Of Nine Companies And The Exit Of Eight
Mondovisione
Changes in the composition of the IBEX Gender Equality. The Technical Advisory Committee has approved the inclusion of nine new companies and the removal of eight from the index, which brings together the most advanced Spanish listed companies in terms of gender equality, so it will have 58 components. The annual review is carried out on the basis of information published by the CNMV on the presence of women on the Board of Directors and in the senior management of companies. The changes will be effective from 23 June.
/jlne.ws/43Npecf
Putin's energy point man says there is a need for more oil volumes globally
Vladimir Soldatkin - Reuters
Russian President Vladimir Putin's energy point man said on Tuesday that there was a global need for more volumes of oil and that OPEC+ remained ready to be flexible if needed amid the conflict between Israel and Iran and a trade war. Crude prices have jumped in recent days on concern of a major war in Middle East after Israel struck Iran, and U.S. President Donald Trump urged people to leave Tehran. Russian Deputy Prime Minister Alexander Novak said that volatility had been sown in oil markets by the risk of supply disruptions through the Strait of Hormuz, the global economic recovery and the trade wars unleashed by Washington.
/jlne.ws/44ljUNa
World oil demand to keep growing this decade despite 2027 China peak, IEA says
Alex Lawler - Reuters
Global oil demand will keep growing until around the end of this decade despite peaking in top importer China in 2027, as cheaper gasoline and slower electric vehicle adoption in the United States support oil use, the International Energy Agency said on Tuesday. The IEA, which advises industrialised countries, did not change its prediction that demand will peak this decade, a view that sharply contrasts with that of producer group the Organization of the Petroleum Exporting Countries (OPEC) which says consumption will keep growing and has not forecast a peak.
/jlne.ws/4njWbom
EU proposes ban on Russian gas imports by end of 2027
Kate Abnett and Julia Payne - Reuters
The European Commission on Tuesday proposed a legally binding ban on EU imports of Russian gas and liquefied natural gas (LNG) by the end of 2027, using legal measures to ensure the plan cannot be blocked by EU members Hungary and Slovakia. The proposals set out how the European Union plans to fix into law its vow to end decades-old energy relations with Europe's former top gas supplier, made after Moscow's 2022 invasion of Ukraine.
/jlne.ws/3G3yIqr
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| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | TSB put up for sale as Spanish owner retreats from Britain
Louis Goss - The Telegraph
TSB has been put up for sale as its Spanish owner looks to retreat from the British banking market after a decade. Sabadell is exploring selling off its British subsidiary after receiving interest from potential bidders. The Spanish bank has begun circulating documents to interest parties and granted limited access to one of its data rooms to allow potential buyers to carry out due diligence, the Financial Times reported.
/jlne.ws/3G6VCgC
Metro's ex-senior managers were responsible for accounting error, tribunal says; But former chief executive and finance director have their fines reduced on appeal
Ellesheva Kissin - Financial Times
A London tribunal has ruled that Metro Bank's former top two executives were responsible for a £900mn accounting error at the UK high street lender. Craig Donaldson, Metro's ex-chief executive, and David Arden, former chief financial officer, had challenged fines handed to them by the Financial Conduct Authority in 2022 for allegedly misclassifying a large number of commercial loans.
/jlne.ws/4kKuVO9
Bank of Japan to slow exit from bond market purchases; Yields on long-dated government bonds surged to record highs in May
Leo Lewis - Financial Times
The Bank of Japan has said it will move more slowly on cutting back its bond purchases as its governor warned that going too quickly could hit the stability of one of the world's biggest debt markets. The central bank is attempting to wean the Japanese economy off the huge stimulus programme under which the BoJ became the owner of roughly half the entire stock of Japanese government bonds, significantly reducing market liquidity. Governor Kazuo Ueda told a press conference on Tuesday that the BoJ would continue to slow the rate at which it buys bonds - a process known as tapering.
/jlne.ws/4kV4ftO
Hedge Funds
Hedge fund Millennium valued at $14bn in minority stake sale talks;l Izzy Englander's group working with Petershill Partners as it opens up to external investors for the first time
Harriet Agnew - Financial Times
Millennium Management, one of the world's largest hedge funds, is in talks about selling a minority stake to external investors at a $14bn valuation, as it presses ahead with plans to open up its ownership for the first time. People familiar with the discussions said that Millennium was working with Goldman Sachs' Petershill Partners to identify potential buyers for a 10-15 per cent equity stake in Millennium's management company. It is the first time a formal valuation has been put on the hedge fund.
/jlne.ws/3HLnGGY
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| Work & Management | | Stories impacting work and more about management ideas, practices and trends. | The Godfather of AI reveals which jobs are safest - and where 'everybody' will get replaced
Alice Tecotzky - Business Insider
Now is a great time to become a plumber, at least according to the so-called Godfather of AI. Geoffrey Hinton, who previously worked at Google and earned his nickname for his work on neural networks, laid out the risks of mass joblessness during an interview on the 'Diary of a CEO' podcast that aired June 16. He said that, eventually, the technology will "get to be better than us at everything," but some fields are safer than others in the interim. "I'd say it's going to be a long time before it's as good at physical manipulation," Hinton said. "So a good bet would be to be a plumber."
/jlne.ws/4jN8whD
Young Graduates Are Facing an Employment Crisis; Slow hiring is especially daunting for those just starting out; 'Right now, I'm pretending employment doesn't exist'
Justin Lahart and Te-Ping Chen - The Wall Street Journal
The U.S. labor market is holding steady despite extraordinary economic upheaval. But it is a bad time to be a job seeker-especially if you are young. Recent college and high-school graduates are facing an employment crisis. The overall national unemployment rate remains around 4%, but for new college graduates looking for work, it is much higher: 6.6% over the past 12 months ending in May. That is about the highest level in a decade-excluding the pandemic unemployment spike-and up from 6% for the 12-month period a year earlier.
/jlne.ws/3FFKibq
10 Best Work Management Software & Tools (June 2025)
Alex McFarland - Unite AI
In today's fast-paced business environment, efficiency and organization are more crucial than ever. With teams often scattered across various locations and projects growing increasingly complex, the need for effective work management tools has never been greater. These tools not only streamline project management but also enhance team collaboration, productivity, and overall project visibility. From small startups to large corporations, businesses are constantly seeking the best software solutions to manage their workflows seamlessly. This is where work management tools come into play, offering a diverse range of functionalities tailored to meet different organizational needs.
/jlne.ws/3Zw4J15
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| Wellness Exchange | | An Exchange of Health and Wellness Information | Keeping yourself alive could become way more expensive with Trump tariffs
Ariana Baio - The Independent
Americans would likely pay more for necessary everyday prescription drugs, such as insulin, painkillers, chemotherapy, or antibiotics, if President Donald Trump were to enact tariffs on pharmaceuticals, experts warn. In an effort to incentivize drug manufacturers to bring production back to the United States, Trump has proposed tariffing pharmaceuticals made overseas - which account for an overwhelming majority of everyday medicine used in the U.S.
/jlne.ws/4jX3oHL
Loneliness is bad for your health-but it may not be as deadly as once thought, new research finds
Beth Greenfield - Fortune
Loneliness was declared a public health epidemic just two years ago, with then-U.S. Surgeon General Vivek Murthy citing links to increased risk of heart disease, depression, cognitive decline, dementia, and early mortality. But now come findings that could challenge that-specifically, the connection to early mortality, which had come out of a body of research including a 2015 meta-analysis and another from 2018.
/jlne.ws/3HHskWt
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| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | Indian Farmers Boost Sowing of Rice, Pulses and Sugar Cane
Pratik Parija - Bloomberg
The area allocated to monsoon-sown rice crops has increased 13.3% from a year earlier to 453,000 hectares (1.1 million acres) as of June 13, according to India's agriculture ministry. Farmers have planted pulses on 307,000 hectares of farmland, climbing 18% from a year earlier, the ministry said in a statement on Tuesday. Sugar cane planting has increased to 5.51 million hectares, up from 5.49 million hectares, it said.
/jlne.ws/3G0faTW
South African rand subdued on risk-off mood, economic data eyed
Reuters
The South African rand was down marginally on Tuesday, despite fragile risk sentiment driven by the Israel-Iran conflict, and ahead of key domestic economic data on Wednesday. At 1403 GMT the rand traded at 17.85 against the dollar , 0.2% softer than Monday's close.
/jlne.ws/44dmUdA
Ecuador's Minister of Energy and Mines Ines Manzano speaks during a press conference in Yury Garcia - Reuters
Ecuador's mining ministry announced on Monday the launch of a new registry of concessions for the first time in seven years in an effort to attract more mining projects to the South American country and curb illegal operations. The prior registry was shut down in 2018 over concerns of irregularities in the concession system, and no new concessions have been granted since.
/jlne.ws/460HaRY
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| Miscellaneous | | Stories that don't quite fit under the other sections | Bonnaroo 2025 cancelled after just one night due to severe storms days after co-founder's death; Luke Combs was the only of the four headliners for this year's festival to take the stage
Caitlin Hornik - The Independent
The remainder of music festival Bonnaroo has been cancelled due to weather just days after the death of one of its co-founders. Set to run through Sunday at Bonnaroo Farm in Manchester, Tennessee, the music festival was cancelled Friday evening after hours of delays and even an evacuation notice. "Today, the National Weather Service provided us with an updated forecast with significant and steady precipitation that will produce deteriorating camping and egress conditions in the coming days," Bonnaroo shared via Instagram. "We are beyond gutted, but we must make the safest decision and cancel the remainder of Bonnaroo."
/jlne.ws/4e51wvr
Police Seize Dark Web Drug Site Archetyp, Arrest Its Administrator
PC Mag
Archetyp Market, a site on the dark web that sold illegal drugs, has been shut down after police in Europe arrested its administrator. On Monday, Europol announced it had dismantled Archetyp Market, which had been around since 2020, making it one of the "most enduring" dark web drug providers, the agency said. The site had attracted more than 600,000 users worldwide, raking in at least EUR250 million ($290 million) in transactions. "With over 17,000 listings, it is one of the few darknet markets that allowed the sale of fentanyl and other highly potent synthetic opioids, contributing to the growing threat posed by these substances in Europe and beyond," Europol said.
/jlne.ws/4jQGQbO
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