| January 31, 2025 | "Irreverent, but never irrelevant" | | | | John Lothian
Publisher
John Lothian News | |
|
| | | | First Read | | |
| | 2025 Newsletter Subscriptions: | |
Hits & Takes
John Lothian & JLN Staff
The CME Group members' class action lawsuit is headed for a big day as there is a status hearing on the CME's motion for summary judgment today at 1:30 CT that is available by remote access via Zoom. Participants may go to www.zoom.us and or telephone 312-626-6799 and when prompted enter the meeting ID 994 2739 7392 and password 2007.
If the summary judgment is not granted, a trial will FINALLY start on July 7, 2025 with no more extensions, Judge Kathy Flanagan ordered on November 7, 2024.
Acting CFTC Chairman Caroline D. Pham will deliver a keynote fireside chat at the Commodity Markets Council's 2025 State of the Industry Conference on Monday, February 3, at 3:15 p.m. EST. The event will take place at the Fort Lauderdale Marriott in Fort Lauderdale, Florida.
Tuttle Capital Management has filed to launch 10 new leveraged ETFs that would amplify exposure to $TRUMP and $MELANIA, the speculative meme coins linked to Donald Trump, The Wall Street Journal reported. The funds, which use derivatives to double daily returns or losses, test SEC boundaries under new chairman Paul Atkins, who is seen as more crypto-friendly than his predecessor Gary Gensler. Since their launch, the Trump-backed tokens have lost over 60% of their peak value, raising concerns about their viability. The SEC now faces a dilemma-rejecting the funds could signal disapproval of the coins, despite Trump's endorsement. Meanwhile, small asset managers like Tuttle Capital are capitalizing on the crypto frenzy, with Rex Shares filing for a Dogecoin ETF and dozens of new crypto ETFs under review. Experts warn of extreme volatility, comparing the high-risk products to Tuttle's MSTU fund, which has drawn billions despite its reputation as one of the market's most volatile ETFs.
Wolfgang Eholzer retired as the chief technology officer of Eurex at the end of 2024. He participated in The History of Financial Futures video series for John Lothian News and MarketsWiki Education back in 2022. You can see the two part series on YouTube HERE and HERE. Good luck, Wolfgang, on your retirement.
Vlad Tenev, the CEO of Robinhood, wrote an opinion piece for The Washington Post titled "An investing revolution is coming. The U.S. isn't ready for it," which argues that crypto technology can revolutionize investing by tokenizing private-company stock, allowing retail investors access to early-stage opportunities once reserved for the wealthy. With companies like OpenAI and SpaceX staying private, outdated accredited investor rules exclude 80% of Americans from lucrative private markets. Tenev advocates for blockchain-based tokenization, enabling fractional, 24/7 trading of private assets. While secondary platforms like EquityZen exist, they lack crypto's global scale and efficiency. However, SEC regulations remain a roadblock, preventing the legal listing and trading of security tokens. Meanwhile, Europe, Singapore, and Abu Dhabi are advancing tokenization frameworks, leaving the U.S. behind. Tenev calls for modernized securities laws, including new security token registration, updated accreditation rules based on knowledge, and clear guidelines for broker-dealers and exchanges. With regulatory clarity, tokenization could unlock a new era of inclusive investing, ensuring the U.S. stays competitive in the evolving financial landscape.
Here are the headlines from in front of FOW's paywall from some recent stories: Eurex appoints Flow Traders exec for technology chief role, Tradeweb wins US approval to trade security-based swaps under new regime, Former ZISHI chief Jenkins takes derivatives role at Saudi exchange, ANALYSIS: Nasdaq to grow equities, fixed income in Nordic market after power sale and CME to add small-size agricultural futures in latest retail push.
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:
- Trader Mints Millions in Hours on Bond Options Bet Tied to Fed from Bloomberg.
- BlockFills Collaborates with CoinDesk Indices to Bring Institutional-Grade Options Market Liquidity to the CoinDesk 20 Index from BlockFills.
- OpenAI Doesn't Want AI Cheaters from Bloomberg. ~JB
Subscribe to the JLN Options Newsletter HERE (it's free).
++++
| Sponsored Content |
Japan's Single Stock Options Markets Primed for Revitalization after Regulatory Improvements
The recent upturn in Japanese stock markets has drawn attention from domestic and overseas investors. Originally listed in 1997, Japan's Single Stock Options (JSSO) market is set for a dynamic revitalization, JSSOs are attracting both domestic and international investors. Together with Nikkei 225 and TOPIX derivatives, JSSOs are poised to be an important part of the Japanese equity derivatives markets.
In 2024, Osaka Exchange (OSE) has made groundbreaking changes:
1. Revised margin rules and dedicated SSO accounts to lower additional margin requirements for certain trades.
2. Expanded the number of eligible underlying assets, including popular stocks favored by retail investors.
3. Created an enhanced market-making environment for individual stock SSOs.
4. Improved rules for setting strike prices, making trading more attractive.
In addition to the existing local and international brokers, with the entry of new brokerage firms, the JSSO market is becoming more accessible to retail investors. This wave of improvements is expected to significantly boost market participation and liquidity.
Investors are encouraged to explore the exciting opportunities in Japan's revitalized SSO market, poised for substantial growth and offering diverse investment prospects. Join the momentum and capitalize on the emerging potential of Japan's Single Stock Options market today!
Click here for the full story!
|
++++
Cboe's David Brent Discusses Transparency, Global Access, and Future Trends at FIA Expo
JohnLothianNews.com
David Brent, global head of data & analytics sales at Cboe Global Markets, emphasized the critical role of transparency and data accessibility in modern trading during an interview with John Lothian News at the FIA Expo. Brent highlighted how electronic trading has revolutionized market operations by improving efficiency and providing traders with a competitive edge.
Watch the video »
++++
MarketsWiki Reveals Most-Viewed Pages for January 2025: Salim Ramji, Art Cashin, and ION Group Lead the List
JohnLothianNews.com
ETF markets, trading technology, and regulatory changes dominate interest, with the Corporate Transparency Act and GameStop short squeeze drawing continued attention.
MarketsWiki, the online knowledge base from John Lothian News, has released its list of most-viewed pages for January 2025, offering insights into the topics and figures capturing the attention of investors and financial professionals worldwide who actively use the site.
Read more »
++++
Micro Ag Futures at CME Group Could be Huge
JohnLothianNews.com
The CME Group's experience has taught it that small can be huge, so the exchange operator is expanding its micro offerings in the CBOT agriculture complex in order to grow.
The CME Group is set to launch a new line of micro agricultural futures contracts on February 24, 2025, offering traders smaller-sized options for corn, wheat, soybeans, soybean meal, and soybean oil, pending regulatory review. The CME already offers mini futures on its grain and oilseed contracts.
Read more »
++++
TikTok should be shut down; It might not be a wise move, but it's the law.
The editorial board - The Washington Post
The rule of law is itself more important than any individual laws. The best-sounding policies are no good unless they are enforced consistently and transparently. Note that the citizens of Stalinist Russia had a constitutional guarantee of free speech and assembly, but they did not enjoy free speech and assembly because the state did not honor its law. Make sense of the latest news and debates with our daily newsletter The rule of law is the foundation of civil society and the fuel on which democracy runs. It is also essential to a healthy economy because it is what gives people and companies the confidence to invest in the future, knowing that their investment will be protected, regulated and taxed according to clear, known rules. Unfortunately, maintaining the rule of law sometimes means enforcing laws the country might be better off without. Case in point: the TikTok ban.
/jlne.ws/3WFNfhg
***** Evidently The Washington Post is not paying attention to what is going on in Washington. Law? What law?~JJL
++++
Sam Bankman-Fried's Parents Explore Seeking Trump Pardon for Son; They've met with lawyers and other figures in Trump's orbit; FTX co-founder was sentenced to 25 years for fraud last year
Ava Benny-Morrison - Bloomberg
The parents of FTX co-founder Sam Bankman-Fried are exploring ways to secure a pardon for the onetime crypto billionaire from President Donald Trump, according to a person familiar with the matter. Stanford Law School Professors Joseph Bankman and Barbara Fried had meetings in recent weeks with lawyers and other figures considered to be in Trump's orbit about clemency for their 32-year-old son, who was sentenced to 25 years in prison for fraud, the person said. It's unclear if outreach has been made to the White House.
/jlne.ws/3PYFXBn
****** If it worked for Ross Ulbricht, it can work for SBF.~JJL
++++
Thursday's Top Three
Our top clicked item Thursday was the letter from Kalshi to the CFTC regarding the Kalshi event contract "Will [word] be said by Donald Trump in address?", at CFTC.gov. Second was Manhattan's Morning Commute Time Drops With New Congestion Toll, from Bloomberg. Third was Lessons from my investing career by Bill Gross in the Financial Times.
++++
|
| | | | |
| Lead Stories | Is Wall Street ready to stay up all night? The New York Stock Exchange is looking to trade for 22 hours a day - raising thorny questions about how equity markets function
Jennifer Hughes - Financial Times
On Sunday night in Chicago, Steve Quirk by habit checked the S&P 500 futures prices and noted a large fall. The following day, the markets veteran was looking at figures showing a surge in overnight trading on online broker Robinhood as investor darling Nvidia slumped amid worries about Chinese AI upstart DeepSeek. Nvidia's travails produced the second-biggest late-night trading session for Robinhood, best known for popularising smartphone-based trading. It has offered overnight dealing for the past 18 months and Monday ranked for volume behind only the night of the US presidential election in November.
/jlne.ws/3EdwK5C
Thanks to this lethargic trading behavior and the relentless boom in benchmark-tracking index funds, the impact of each trade on prices gets amplified
Justina Lee - Bloomberg
At first blush, stock trading this week is hardly a paragon of the market-efficiency theory, an oft-romanticized idea in Economics 101. After all, big equity gauges plunged on Monday, spurred by fears of an AI model released a week earlier, before swiftly rebounding. A fresh academic paper suggests the rise of passive investing may be fueling these kind of fragile market moves. According to a study to be published in the prestigious American Economic Review, evidence is building that active managers are slow to scoop up stocks en masse when prices move away from their intrinsic worth. Thanks to this lethargic trading behavior and the relentless boom in benchmark-tracking index funds, the impact of each trade on prices gets amplified, explaining how sell orders, like on Monday perhaps, can induce broader equity gyrations.
/jlne.ws/3Q4Mx9r
Blackstone sees trillions from rich flowing to private markets
Swetha Gopinath - Bloomberg
Private markets are set to see trillions of dollars of inflows as wealthy individuals gain greater access to an industry once dominated by institutional investors, according to a senior managing director at Blackstone Inc. (BX). "For some time, people have been asking when the democratization of private markets will hit critical momentum. That time is now," Viral Patel, who oversees Blackstone's private equity strategy for retail clients, said in an interview on the sidelines of the IPEM private equity conference in Cannes this week. "It's not unrealistic to think that fund flow from individual investors into the asset class in the next 5-15 years could reach into the trillions."
/jlne.ws/4hD5z2z
EU Commissioner Casts Doubt on Bloc's Fresh UK Clearing Deadline; Albuquerque says she hopes EU will still be ready by deadline; EU keeps extending deadline for clearing move after Brexit
Laura Noonan - Bloomberg
The European Union's finance chief said the bloc is open to further extending the deadline for wresting euro clearing from London, casting doubt over a newly adopted timeline. EU Financial Services Commissioner Maria Luis Albuquerque said in an interview with Bloomberg earlier this week that she hopes a new proposed 2028 deadline can be achieved, but "didn't know" if it would be the final extension to a post-Brexit exemption granting EU market access to UK clearing houses.The comments came just days before the EU announced on Friday that it has adopted a decision to extend until July 2028 an exemption that grants UK clearing access to the single market.
/jlne.ws/3X5aUIn
US SEC Gives Initial Approval to Combined Bitcoin, Ether ETF
Sunil Jagtiani - Bloomberg
The US Securities and Exchange Commission on Thursday approved part of an application for a novel exchange-traded fund that would track the two largest cryptocurrencies.The Bitwise Bitcoin and Ethereum ETF from Bitwise Asset Management would seek to provide investors with a balanced exposure to the two digital assets, weighted by their market capitalization. The structure of the fund will be similar to existing ETFs that hold either Bitcoin or Ether directly.
/jlne.ws/42zew8K
Senior U.S. official to exit after rift with Musk allies over payment system; A top Treasury career staffer is expected to depart. Surrogates of Musk's DOGE effort had sought access to sensitive payment systems.
Jeff Stein, Isaac Arnsdorf and Jacqueline Alemany - The Washington Post
The highest-ranking career official at the Treasury Department is departing after a clash with allies of billionaire Elon Musk over access to sensitive payment systems, according to three people with knowledge of the matter, who spoke on the condition of anonymity to describe private talks. David A. Lebryk, who served in nonpolitical roles at Treasury for several decades, is expected to leave the agency soon, the people said. President Donald Trump named Lebryk as acting secretary upon taking office last week. Lebryk had a dispute with Musk's surrogates over access to the payment system the U.S. government uses to disburse trillions of dollars every year, the people said.
/jlne.ws/4aCFBtV
SEC Approves Bitwise Spot Bitcoin and Ethereum ETF; The fund gives investors exposure feature exposure to both spot bitcoin and ether, weighted by market capitalization.
Helene Braun, Nikhilesh De - CoinDesk
The U.S. Securities and Exchange Commission approved another joint bitcoin and ether exchange-traded fund (ETF) Thursday, letting investors gain exposure to the two digital assets in one regulated financial product. The SEC announced it had granted accelerated approval to Bitwise's Bitcoin and Ethereum ETF, just over a month after approving similar products filed by Hashdex and Franklin Templeton. Hashdex's Crypto Index ETF gives investors exposure to a basket of different cryptocurrencies, while Franklin Templeton said it would launch its product sometime in January.
/jlne.ws/3PZvNR0
Kalshi, an Online Prediction Market, Will Open Its Bets to Brokerages
Michael J. de la Merced - The New York Times
Online prediction markets soared in popularity last year in the run-up to the United States elections - and then claimed vindication when they appeared to reflect Donald J. Trump's victory faster than opinion polls did. Now one of the biggest players in the business, Kalshi, is moving to make its contracts available to more bettors looking to wager on some of the biggest events in politics, business and sports - from guessing the correct number of "yes" votes Robert F. Kennedy Jr. will receive in his bid to become Mr. Trump's health secretary to which companies will run Super Bowl ads.
/jlne.ws/4hCfUvQ
Mexico Touts New Rules to Spark More Issuance By Smaller Firms
Michael O'Boyle - Bloomberg
New rules allowing for simplified issuance of equity and debt by smaller companies in Mexico are paving the way for a revival of the local securities markets, officials from the government and the local exchanges said on Thursday. The long-awaited publication of secondary regulations to flesh out a reform passed in late 2023 is driving anticipation of more listings in the market, said Jorge Alegria, head of the Bolsa Mexicana de Valores at an event in Mexico City on Thursday. More than 900 people participated in a webinar on the new framework this week, and executives from 80 companies are taking a course to take advantage of the new regulations, he added.
/jlne.ws/3CzeSBR
Traders Load US-Bound Planes With Gold and Silver in Tariff Bet; NY-London spread has made air freight profitable for silver; Gold, silver and copper flowing into US to capture premium
Yvonne Yue Li, Jack Ryan, and Mark Burton - Bloomberg
Over the last few months, sealed wooden boxes have been arriving in the holds of commercial flights from London to New York, strapped up and tightly packed against tampering. When they land stateside, they are collected by trucks whose drivers, generally, don't know what they're hauling. What's inside are stacks of silver bars that traders, fearing that tariffs from the US government are imminent, are loading onto planes to rush into America.
/jlne.ws/4hAJ9Pn
How Much Your Wall Street Bonus Is Really Worth; When is $100,000 not $100,000? On Wall Street. As compensation season takes off, an analysis of the bonus currencies for 12 of the world's biggest banks helps demystify the awards.
Laura Noonan, Phil Kuntz and Demetrios Pogkas - Bloomberg
Picture this: It's Wall Street bonus season. The year is 2022. A Goldman Sachs Group Inc. trader is handed $100,000 in deferred stock. Her uptown rival at Bank of America Corp. is given an identical award on the very same day. Now, three years on those awards have fully vested with wildly divergent results: The Goldman staffer would have been able to clear more than $113,000. The Bank of America trader, though, would have netted less than $83,000.
/jlne.ws/4hEgWHG
Hedge fund Elliott warns White House is inflating crypto bubble that 'could wreak havoc'; Supporting digital assets that could marginalise the dollar is 'dangerous', investor letter says
Costas Mourselas - Financial Times
The Trump administration's embrace of cryptocurrencies is helping fuel a speculative mania that could cause "havoc" when prices collapse, the hedge fund Elliott Management has warned. The $70bn-in-assets firm took aim at the US government's apparent enthusiasm for assets that have soared in price but have "no substance", and also at politicians who are supportive of cryptocurrencies that could eventually become a rival to the US dollar, according to an investor letter seen by the Financial Times.
/jlne.ws/4govjyO
|
| | | |
|
| Ukraine Invasion | | News about the invasion of Ukraine by Russia and its military, economic, political and humanitarian impact | 'The region will die': Ukraine's Donbas mines within Russia's grasp
Barbara Wojazer and Daria Andriievska - AFP
Fighting desperately to cling on to coal mines that were once the lifeblood of its industrial east, Ukraine's soldiers conceded they were struggling against intensifying Russian attacks. "There's only so much we can do. No matter what super warriors are fighting in our ranks, the Russians outnumber us. It hurts," said the chief sergeant of Ukraine's 59th brigade, deployed in the Donetsk region, who goes by the call sign "San Sanych".
/jlne.ws/40S7KKa
Sanctioned Ship Unloads Russian Oil in China After Long Journey
Weilun Soon - Bloomberg
A tanker sanctioned by the US this month has discharged Russian oil in China after an unusually long journey in which it changed its destination from Shandong province, a hub for independent refiners. The Huihai Pacific, an Aframax that's a regular on the route from Kozmino on Russia's Pacific coast to China, unloaded nearly 770,000 barrels of ESPO crude in Tianjin, near Beijing, on Friday morning, according to ship-tracking data from Bloomberg and Kpler.
/jlne.ws/4hAGYvb
Traders offer March-delivery Russian oil to India at narrower discounts, sources say
Nidhi Verma - Reuters
Traders have resumed offers of Russian crude cargoes to Indian refiners at narrower discounts after a delay triggered by recently imposed U.S. sanctions that have pushed up trading costs, Indian refining sources said on Friday. Washington earlier this month imposed sweeping sanctions targeting Russian producers and tankers, disrupting supply from the world's No. 2 producer and tightening ship availability.
/jlne.ws/40EjvT5
Putin approves sale of Goldman Sachs' Russian unit to Armenian fund
Reuters
President Vladimir Putin has authorised Armenian investment fund Balchug Capital's purchase of Goldman Sachs' unit in Russia, a government decree published on Friday showed, potentially paving the way for the U.S. bank to fully withdraw from Russia. Moscow has steadily tightened restrictions on foreign asset sales since the start of the conflict in Ukraine, with banks requiring Putin's approval for any deal.
/jlne.ws/40EkhPZ
*****The Bloomberg version of this story is titled "Putin Allows Goldman Sachs to Sell Its Business in Russia."~JJL
Putin Is Gaining Allies in Europe at a Bad Time for Ukraine; The nationalist lurch in Slovakia, Austria and Croatia throws into question support for Kyiv just as Donald Trump seeks an end to the war.
Daniel Hornak, Jasmina Kuzmanovic, and Andrea Dudik - Bloomberg
When Slovakia became one of the first NATO countries to deliver military aid to Ukraine, its defense minister faced down criticism from opposition parties. What he didn't expect was to be investigated for abuse of power, taking bribes - and treason. Jaroslav Nad is the subject of five criminal complaints and an Interior Ministry probe a little over a year after Prime Minister Robert Fico returned to office on a campaign to halt weapons deliveries to Kyiv. "This is a purely political trial," he said in an interview in Bratislava, reflecting on the possibility of jail time. "It won't break me, though."
/jlne.ws/4grESgi
|
| | | |
|
| Middle East Conflict | | News about the current conflict in the Middle East that began with the October 2023 Hamas attack on Israel. | Binance claims 'no special relationship' with Hamas, argues to dismiss lawsuit; A complaint filed in January 2024 alleged that Binance, Changpeng Zhao, Iran and Syria provided "substantial assistance" that contributed to Hamas' October 2023 attacks on Israel.
Turner Wright - CoinTelegraph
A federal judge has not yet issued a ruling on a motion to dismiss a lawsuit filed by families of victims affected by the 2023 Hamas attack on Israel against cryptocurrency exchange Binance and its former CEO Changpeng "CZ" Zhao. In the US District Court for the Southern District of New York on Jan. 30, lawyers representing Binance presented oral arguments in connection with the company's motion to dismiss the families' victims' complaint filed in January 2024. According to reporting from Inner City Press, the exchange's legal team argued crypto was "not inherently dangerous," pushing back against allegations that Binance facilitated transactions benefiting Hamas.
/jlne.ws/4jB0nOD
Three Israeli hostages, including dual US and French citizens, set for release in Gaza on Saturday
James Mackenzie - Reuters
Hamas said on Friday it would free the father of the youngest hostages seized in its Oct. 7, 2023 attack on Israel and two others including a dual U.S. citizen and a dual French citizen in the next exchange of Gaza hostages for Palestinian prisoners. Yarden Bibas, Keith Siegel and Ofer Kalderon will be handed over on Saturday, said Abu Obeida, spokesperson for the armed wing of the Palestinian militant group, in a post on his Telegram channel.
/jlne.ws/40WAPEr
|
| | | |
|
| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | CME Group to Launch Micro-Sized Grains and Oilseed Futures on February 24
CME Group
CME Group, the world's leading derivatives marketplace, today announced it will launch a suite of micro grain and oilseed futures contracts on February 24, 2025, pending regulatory review. These contracts will be cash-settled and one-tenth the size of the company's Corn, Wheat, Soybean, Soybean Oil and Soybean Meal futures.
/jlne.ws/40TISBP
Performance Bond Requirements: Cryptocurrency, Energy, Interest Rate and Metal Margins - Effective January 31, 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 January 31, 2025.
/jlne.ws/4hEGJQ3
Changes to the Executive Board of Eurex Frankfurt AG
Eurex
Eurex Frankfurt AG announces changes to its Executive Board. As of 1 February 2025, Quinten Koekenbier will join the Executive Board of Eurex Frankfurt AG. He will replace Wolfgang Eholzer as Chief Technology Officer who retired at the end of 2024. Koekenbier will assume this position as part of his new role as Head of Derivatives & Cash Trading IT at Deutsche Börse which he will also start on 1 February. Koekenbier joins Deutsche Börse after 15 years at Flow Traders where he has gained a proven track record in liquidity provisioning as well as in trading infrastructure and software engineering. Most recently, he has been Global Head of Technology, Global Head of Trading Performance and member of the Executive Committee since October 2022.
/jlne.ws/3WJJCHg
Listing on Euronext of the first EU Green Bond from a public sector issuer
Back
Euronext
Euronext today congratulates the admission by Île-de-France Mobilités of the first Green Bond issued by a public entity aligned with the new European EU Green Bond Standard on Euronext Paris. With this inaugural admission of an EU Green Bond, Euronext reaffirms its support to stakeholders committed to the sustainable transition and its position as a leader in the sustainable bond market. As the transport authority for the Île-de-France region, Île-de-France Mobilités manages one of the most extensive transport networks in the world, handling nearly 9.5 million journeys every day. To ensure carbon-free mobility by 2030, Île-de-France Mobilités has been undertaking Europe's most ambitious program since 2016 to renew its rolling stock.
/jlne.ws/3WFpmGy
Announcement of Tokyo Metropolitan Government Joining as an Additional Partner for TSE Asia Startup Hub
JPX
Tokyo Stock Exchange, Inc. (TSE) announced the launch of TSE Asia Startup Hub on March 25, 2024, and selected 14 companies from six countries/regions as companies to be supported on September 27, 2024. The TSE Asia Startup Hub aims to create an ecosystem that fosters startup growth, focusing on promising Asian companies with ties to Japan, to support business expansion in Japan and partnerships with Japanese firms. This will in turn support IPOs on TSE as one of the outcomes.
/jlne.ws/4ggPcI5
Celebrating 40 Years of the Nasdaq-100 Index (NDX); The combined value of all investment products tracking the NDX ecosystem globally exceeds $500 billion
Nasdaq
Nasdaq, Inc. (Nasdaq: NDAQ) proudly marks the 40th anniversary of the Nasdaq-100 Index (NDX), the world's preeminent large-cap growth benchmark. Since its inception on January 31, 1985, the index has redefined innovation and transformed the global investment landscape. Over the past four decades, it has evolved into a powerful symbol of growth, resilience, and the groundbreaking spirit of its constituent companies, shaping industries, inspiring entrepreneurs and investors worldwide.
/jlne.ws/42B6mwz
|
| | | |
|
| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | Solana ridesharing app Teleport shuts down, cites lack of market readiness
Brayden Lindrea - CoinTelegraph
Solana-based ridesharing app Teleport, which aimed to compete with Uber and Lyft, said it's shutting down due to a lack of market readiness for decentralized ridesharing. "This is not the outcome we had hoped for," Teleport said in a statement on its website and in a Jan. 30 X post. "We're sorry we didn't find a way to make this business work!"
/jlne.ws/3CiPNuY
Broadridge Financial beats Q2 profit estimates on strong Investor Communication demand
Reuters
Fintech firm Broadridge Financial beats Wall Street estimates for second-quarter profit on Friday, helped by resilient demand in its investor communication business. Broadridge provides investor communications and technology-driven services to banks, broker-dealers, asset managers and corporate issuers. Expectations of lower corporate taxes and a more business-friendly regulatory environment under the Trump administration have boosted clients' confidence, fueling demand for services that strengthen their digital infrastructure and helping companies such as Broadridge.
/jlne.ws/3Em82QQ
Brits Using DeepSeek Should Be Alert to Risks, AI Minister Says
Ellen Milligan and Ryan Gallagher - Bloomberg
Britons using a chatbot from Chinese artificial intelligence startup DeepSeek should be alert to the risk to their personal data, the UK's AI minister Feryal Clark said. "Ultimately it is a personal choice for people, whether they decide to download it or not," Clark said in an interview with Bloomberg on Friday. "My advice will be to make sure if people are downloading it that they are alert to the potential risks and they know how their data will be used."
/jlne.ws/3CtMzEU
US Probing If DeepSeek Got Nvidia Chips From Firms in Singapore; Nvidia says it 'insists' that customers comply with laws; Singapore accounts for about 20% of Nvidia's revenue
Jordan Robertson, Mackenzie Hawkins, and Jenny Leonard - Bloomberg
US officials are probing whether Chinese AI startup DeepSeek bought advanced Nvidia Corp. semiconductors through third parties in Singapore, circumventing US restrictions on sales of chips used for artificial intelligence tasks, people familiar with the matter said. DeepSeek recently released a chatbot, called R1, that in some respects performs as well as comparable tools from the US, suggesting that China is further ahead in the AI race than previously believed. Some prominent engineers have marveled at R1's capabilities, and DeepSeek has touted the tool's low cost and efficiency, prompting rivals to speculate whether it was built on the back of Western technology.
/jlne.ws/4aN8Z0v
Why 'Distillation' Has Become the Scariest Word for AI Companies; DeepSeek's success learning from bigger AI models raises questions about the billions being spent on the most advanced technology
Miles Kruppa and Deepa Seetharaman - The Wall Street Journal
Tech giants have spent billions of dollars on the premise that bigger is better in artificial intelligence. DeepSeek's breakthrough shows smaller can be just as good. The Chinese company's leap into the top ranks of AI makers has sparked heated discussions in Silicon Valley around a process DeepSeek used known as distillation, in which a new system learns from an existing one by asking it hundreds of thousands of questions and analyzing the answers.
/jlne.ws/3PY9MCk
|
| | | |
|
| Cybersecurity | | Top stories for cybersecurity | Google says hackers from China, Iran, and North Korea are using Gemini to boost productivity
Tom Porter - Business Insider
Hackers are using the Gemini chatbot in their operations, per a report from Google. It said hackers from Iran, China, and North Korea were using Gemini to boost productivity. But hackers hadn't achieved any major breakthroughs using the tech, the report said. Businesses are using AI to improve their productivity - and it's no different for hackers from Iran, China, and North Korea, according to a report from Google. nThe tech giant's Threat Intelligence Group said in a report on Wednesday that while hackers were using its Gemini chatbot to operate more efficiently, it wasn't yet a game changer for new capabilities. "Threat actors are experimenting with Gemini to enable their operations, finding productivity gains but not yet developing novel capabilities," it said.
/jlne.ws/40D5JA8
Hackers Use 10,000 WordPress Sites To Deliver Malware To macOS and Microsoft Systems
Tushar Subhra Dutta - Cybersecuritynews.com
A sophisticated cyberattack has compromised over 10,000 WordPress websites, delivering cross-platform malware to unsuspecting users. The campaign exploits outdated WordPress versions and plugins, redirecting visitors to fake browser update pages that deploy malicious software targeting both macOS and Windows systems.
/jlne.ws/4hA2XSZ
Gmail warns users to secure accounts after 'malicious' AI hack confirmed
Brooke Kato - NY Post
Sophisticated scams fueled by artificial intelligence are threatening the security of billions of Gmail users. security warning issued As AI-powered phone calls mimicking human voices have become incredibly realistic, a new report from Forbes warned that the email service's 2.5 billion users could be targeted by "malicious" actors that are employing AI to dupe customers into handing over credentials.
/jlne.ws/40UVF6P
|
| | | |
|
| Cryptocurrencies | | Top stories for cryptocurrencies | Crypto Exchange Kraken Says Revenue More Than Doubled Last Year; The crypto exchange had $1.5 billion in revenue last year; Kraken has long-held aspirations of becoming a public company
Olga Kharif and Ryan Gould - Bloomberg
The crypto exchange Kraken, which has long-held aspirations of becoming a publicly-traded company, said revenue more than doubled during last year's record-breaking digital asset market rally. The San Francisco-area based trading platform's revenue was $1.5 billion, compared with $671 million in the prior year. Adjusted earnings before items such as taxes reached $380 million in 2024. The company said it finished the year with 2.6 million funded accounts and there were $42.8 billion in assets held on the platform.
/jlne.ws/3EgUl5H
Kraken Brings Back Crypto Staking for U.S. Customers; Kraken, which was forced to shutter its staking products in early 2023 thanks to the SEC, has re-introduced on-chain staking for U.S. clients in 39 state territories.
Ian Allison - CoinDesk
Kraken, one of the longest-standing crypto exchanges, has reinstated blockchain staking products for many of its American customers, another sign that the previously sclerotic environment for crypto assets in the U.S. is rapidly thawing. Customers across 39 eligible states will be able to use Kraken Pro to take part in bonded staking, where tokens are locked up for certain periods of time depending on the blockchain in question, Kraken said on Thursday.
/jlne.ws/3CslQZp
Ross Ulbricht-tied crypto wallets lose $12M in memecoin misstep: Arkham; Wallets tied to recently freed Silk Road creator Ross Ulbricht listed tokens at the wrong price, which were then snapped up by a bot.
Stephen Katte - CoinTelegraph
Crypto wallets tied to recently pardoned Silk Road creator Ross Ulbricht lost $12 million after making a memecoin trading mistake, says blockchain analytics firm Arkham Intelligence. Ulbricht, or a user operating his wallets, "accidentally nuked the price" of a fan-made memecoin created after Ulbricht's release from prison called ROSS while trying to provide liquidity on the decentralized exchange (DEX) Raydium, Arkham said in a Jan. 30 X post. "Because he initialized the liquidity pool at the wrong price, $1.5M of the token (5% supply) was instantly taken by a MEV Bot, then sold into the existing pool," Arkham explained.
/jlne.ws/40CfP4q
Apollo Unveils Tokenized Private Credit Fund as Blockchain Deepens TradFi Links; The Apollo Diversified Credit Fund digital offering marks the first integration for Securitize with the Solana and Ink blockchains.
Ian Allison - CoinDesk
Apollo, an investment firm with over $730 billion in assets under management, is offering investors a new tokenized private credit fund with the help of security token specialist Securitize. Accessed via the Apollo Diversified Credit Securitize Fund (ACRED) feeder fund, the token is the first public on-chain offering for accredited investors of Apollo and also the first integration for Securitize with the Solana blockchain, as well as with Ink, a layer-2 network built by the Kraken crypto exchange. Ethereum, Aptos, Avalanche and Polygon are also initial launchpads for the tokenized fund.
/jlne.ws/3Ekdfsa
Put Securities On-Chain!; Robinhood CEO Vlad Tenev's proposal for tokenized equity sales offers a sensible third way between exempt securities and public offerings, deepening the capital available to businesses of all sizes, says Aaron Brogan, managing attorney of Brogan Law.
Aaron Brogan - CoinDesk (opinion)
This week, in a Washington Post op-ed, Robinhood CEO Vlad Tenev called for a new approach to capital markets in the United States. He suggested a number of policies - modernizing accredited investor standards is an old favorite among finance wonks - but one stood out. "[T]here needs to exist a security token registration regime, allowing companies to create token offerings that are open to U.S. investors." Here, Tenev seizes upon the skeleton key to unlock cryptocurrency's full potential.
/jlne.ws/4ghaDZu
Pump.Fun Hit With Proposed Class Action Lawsuit Alleging Securities Violations; The suit alleges that Pump.fun has made nearly $500 million in fees from helping users generate memecoins.
Cheyenne Ligon - CoinDesk
Memecoin generator Pump.fun was hit with another proposed class action lawsuit on Thursday, accusing the company and its executives of raking in nearly $500 million in fees while violating U.S. securities laws. The suit, filed in the Southern District of New York (SDNY), hinges on the crypto industry's biggest lingering question - when is a token a security? Though the suit alleges that every token created using Pump.fun's platform is a security, and thus subject to U.S. securities laws, that's far from a matter of settled law. Under the new Donald Trump Administration, the U.S. Securities and Exchange Commission (SEC) has indicated it's changing tack on crypto regulation, creating a new crypto task force charged with establishing a clear regulatory framework for the industry.
/jlne.ws/4hgFx5p
Tether Brings Its $140B USDT Stablecoin to Bitcoin and Lightning Networks; Stablecoins are increasingly popular for everyday uses like payments, remittances and savings, and Tether's expansion aims to spur activity to the Bitcoin-based ecosystem.
Kirsztian Sandor - CoinDesk
/jlne.ws/4hhUV1B
El Salvador Passes Change to Bitcoin Law, Sparking Bond Gain
Zijia Song and Vinícius Andrade - Bloomberg
/jlne.ws/4hdXHoo
MicroStrategy raises $563 million from preferred stock sale
Bailey Lipschultz and Yiqin Shen - Bloomberg
/jlne.ws/4jIgF8v
Lots More With Matt Levine on MicroStrategy's Infinite Money Machine; How the company uses Bitcoin to buy more Bitcoin.
Tracy Alloway and Joe Weisenthal - Bloomberg
/jlne.ws/4hCk32S
|
| | | |
|
| Politics | | An overview of politics as it relates to the financial markets | Trump Raised Millions From Crypto Firms for His Inauguration; Coinbase, Kraken, Galaxy Digital each gave $1 million; Energy producers and tech firms also donated to festivities
Bill Allison - Bloomberg
President Donald Trump's inaugural committee received millions of dollars in donations from firms in the cryptocurrency industry that's already seeing special attention from his administration, disclosures filed with the Senate Office of Public Records show. Coinbase Inc., Crypto.com, Galaxy Digital, Paradigm Operations and Payward Inc., better known as Kraken, each gave $1 million. Robinhood Markets, Inc., which offers a trading platform for digital currencies, contributed $2 million, according to the reports.
/jlne.ws/4gug7Ak
Donald Trump says he might exclude oil from tariffs on Canada and Mexico; US president intends to impose penalties on trading partners as soon as this weekend
Aime Williams and Myles McCormick in Washington - Financial Times
Donald Trump has said he is considering excluding oil imports from the 25 per cent tariffs he has threatened to impose on Mexico and Canada, in a sign the US president might offer exemptions for crucial industries. Trump said tariffs on imports from the US's closest trading partners would be imposed this weekend, adding that he would decide on the details, including the potential exemptions, on Thursday evening.
/jlne.ws/4aI3wI8
Trump Tariffs Could Hurt Oil Companies and Increase Gas Prices; Some oil refineries will probably struggle to replace imported crude oil if President Trump imposes 25 percent tariffs on products from Canada and Mexico.
Rebecca F. Elliott - The New York Times
Oil and gas companies in the United States are bracing for the possibility that President Trump will thrust their businesses into disarray and will drive up prices at the pump by imposing 25 percent tariffs on goods from Canada and Mexico. The United States is the world's largest oil producer, but the country's refineries are designed to turn a mix of different types of oil into fuels like gasoline and diesel. Roughly 60 percent of the oil that the United States imports comes from Canada, and about 7 percent comes from Mexico. Many refineries are set up to use those imports and cannot easily switch to oil from other places.
/jlne.ws/3Em7ESo
Republicans Want to Kill Tax-Reporting Rule for Some Crypto Trades; As industry clout grows, Congress could wipe out IRS requirement for Form 1099 for decentralized transactions
Richard Rubin - The Wall Street Journal
Republicans are trying to repeal a tax-compliance rule that gives the Internal Revenue Service more information about some digital asset transactions, demonstrating the cryptocurrency industry's growing clout. The push from Sen. Ted Cruz (R., Texas) and Rep. Mike Carey (R., Ohio) uses a procedure that lets Congress strike down recent rules with simple-majority votes. They are trying to remove a December Biden administration rule that requires decentralized finance, or DeFi, platforms to report transactions to the government just like stock brokerages do and
/jlne.ws/4hETaes
Chevron to lobby White House to keep Venezuelan oil licence; Chief warns country could be vulnerable to Chinese, Russian influence if it is forced to abandon operations there
Jamie Smyth in New York and Joe Daniels in Bogota - Financial Times
Chevron is seeking to protect a special US licence allowing it to operate in Venezuela, saying China and Russia will gain influence in the oil-producing nation - and the western hemisphere - if it is forced out by Donald Trump's administration. In an interview with the Financial Times, Chevron's chief executive Mike Wirth said the company would engage with the White House after Marco Rubio, US secretary of state, said the licence should be reconsidered.
/jlne.ws/42Bq8rX
Give Retail Investors a Voice in Crypto Policymaking; If the new administration is serious about fostering fair and effective crypto policy, it must include everyday Americans, says John Deaton, who was Republican candidate for Senate in Massachusetts in 2024 and represented XRP holders in Ripple's landmark securities against the SEC.
John Deaton - CoinDesk (opinion)
Last week, through Executive Order, President Trump took a significant step toward reshaping the future of digital assets by establishing a Crypto Council led by investor and entrepreneur David Sacks. This Executive Order, coupled with the recent reversal of SAB 121 - an ill-conceived policy that made it prohibitively difficult for banks to custody crypto assets - demonstrates that the new administration is serious about removing barriers to crypto adoption.
/jlne.ws/3WFUtli
Canada warns Donald Trump's tariffs could leave US reliant on Venezuela's oil
Aime Williams in Washington - Financial Times
The US would be forced to buy oil from geopolitical rivals such as Venezuela if it disrupted trade with Canada, Ottawa's foreign minister has warned. Mélanie Joly told the Financial Times the US president's threat to impose levies of 25 per cent on Canadian imports would hit "real people" if relations between the two countries descended into a trade war.
/jlne.ws/3WH1Clg
Russian LNG group lobbies EU think-tanks against tighter sanctions; Novatek's deputy chair Denis Solovyov offered to meet three policy outfits in Brussels
Alice Hancock and Henry Foy, Shotaro Tani and Anastasia Stognei - Financial Times
Russia's largest liquefied natural gas company Novatek has approached think-tanks in Brussels in an effort to lobby against tightening EU sanctions. The European Policy Centre, Bruegel and the Centre on Regulation in Europe were all approached by Novatek this week, requesting a meeting with the company's deputy chair Denis Solovyov. All think-tanks, which influence EU decisions with reports and policy proposals, declined the request.
/jlne.ws/4hDPqKd
Dutch Mull Tweaking Bank Bonus Cap in Political Tightrope Walk
Cagan Koc and Sarah Jacob - Bloomberg
/jlne.ws/4hfTW1H
Russia condemns Trump missile defence shield plan, accuses US of plotting to militarise space
Dmitry Antonov - Reuters
/jlne.ws/40CfWwS
China builds huge new wartime military command centre in Beijing; Complex will be bigger than Pentagon and include bombproof bunkers for leaders, say US intelligence officials
Demetri Sevastopulo in Washington, Joe Leahy and Ryan McMorrow in Beijing, Kathrin Hille and Chris Cook in London - Financial Times
/jlne.ws/4ggpm6N
Japan Plans to Curb Exports of Chips, Quantum-Computing Tech
Mayumi Negishi - Bloomberg
/jlne.ws/4jFrzMc
|
| | | |
|
| Regulation & Enforcement | | Stories about regulation and the law. | Trafigura and Ex-COO Convicted of Bribery by Swiss Court; Switzerland is a global hub for commodity trading firms; Trafigura and its former COO were both indicted at end of 2023
Hugo Miller, Archie Hunter, and Jack Farchy - Bloomberg
Trafigura and its former chief operating officer were convicted by a Swiss court on bribery charges, the first time a senior executive at a major commodity trading house has been found guilty of corruption. Mike Wainwright, Trafigura's ex-COO, was sentenced to 32 months in jail, of which 20 months are suspended, the Federal Criminal Court ruled on Friday in Bellinzona, Switzerland.
/jlne.ws/3CEPmek
***The Financial Times version of this story is titled "Trafigura's former chief operating officer sentenced to 32 months in jail."~JJL
Former Goldman Sachs analyst ordered to pay £587,000 for insider dealing; London court gives Mohammed Zina three months to pay the amount that is available from current assets
Suzi Ring - Financial Times
A former Goldman Sachs analyst convicted of insider trading and fraud must pay more than half a million pounds in confiscation, a London court has ruled. Mohammed Zina, who was found guilty of insider dealing last year and sentenced to 22 months in prison, was ordered to pay £586,711 by a judge at Southwark Crown Court on Wednesday, according to the court and the Financial Conduct Authority, which prosecuted the case.
/jlne.ws/42H5PcR
Acting Chairman Mark T. Uyeda Names Natalia Diez Riggin as Senior Advisor and Acting Director of Legislative and Intergovernmental Affairs
SEC
The Securities and Exchange Commission today announced Acting Chairman Mark T. Uyeda has named Natalia Diez Riggin as Senior Advisor and Acting Director of the Office of Legislative and Intergovernmental Affairs. "I'm thrilled that Natalia has joined us after her tenure working for Chairman Scott on the Senate Banking Committee," Acting Chairman Uyeda said. "Her expertise will help guide us as we focus our efforts at the SEC on capital formation and ensuring companies aren't impeded by ineffective regulation."
/jlne.ws/4hsLcoO
SEC Small Business Advisory Committee to Continue Discussing Challenges Facing Emerging Fund Managers, and Explore Hurdles for Small Public Companies Not Listed on a National Securities Exchange
SEC
The Securities and Exchange Commission's Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Tuesday, Feb. 25, 2025, which will include discussion of capital raising challenges facing emerging fund managers and hurdles facing small public companies not listed on a national securities exchange. Members of the public can watch the live meeting via webcast on www.sec.gov.
/jlne.ws/3EdpB5i
Delivering a step-change in superannuation
ASIC
Joint keynote speech by ASIC Commissioner Simone Constant at the Conexus Financial Super Chair Forum in Sorrento, VIC on 30 January 2025.
/jlne.ws/4jGH2vi
ASIC calls out superannuation trustees for weak scam and fraud practices
ASIC
ASIC has written to superannuation trustees urging them to strengthen anti-scam practices, or risk exposing members to harm. The open letter, signed by ASIC Commissioner Simone Constant, outlines our guidance for superannuation trustees in preventing, detecting and responding to scams and fraud activity. Superannuation trustees have a key role to play in minimising the risk of scam and fraud risks to members, given they are the custodians of the second largest asset for many Australians.
/jlne.ws/3WGTIbD
ASIC acts to protect small business - Q2 FY25 update
ASIC
Small businesses employ approximately half of the private sector workforce and contribute more than $500 billion to the Australian economy each year. They are essential for Australia's prosperity. ASIC assists small businesses by providing the information they need to operate lawfully, and by taking enforcement action against directors or companies when the law has been contravened.
/jlne.ws/3EfrE8W
FCA secures confiscation order against convicted fraudster
FCA
The FCA has secured a confiscation order of £5,963,376.15, against convicted fraudster Guy Flintham. Mr Flintham is serving a 6-year prison sentence having pleaded guilty to fraud by false representation. The fraudulent investment scheme operated by Mr Flintham took £19m from over 240 investors. He made several fraudulent claims to investors, including about how the scheme was operated and the profits they were making. He falsified documents to support his claims.
/jlne.ws/40UIP8E
Staley discussed Madoff with Epstein, FCA alleges; Former Barclays boss shared information on deals and clients with late sex offender, regulator claims
Martin Arnold, Alistair Gray and Ortenca Aliaj - Financial Times
Former Barclays boss Jes Staley discussed confidential deals and clients with the late sex offender Jeffrey Epstein, including details about fraudster Bernard Madoff, according to a court filing by the UK financial watchdog. Emails Staley sent to Epstein were cited by the Financial Conduct Authority as evidence the banker had misled the regulator when he assured it that the pair "did not have a close relationship".
/jlne.ws/40HnC0y
FCA sets out further proposals to support growing business and investment opportunities
FCA
The FCA has set out proposals to make it easier for listed companies to issue corporate bonds that wealth managers and retail investors can buy. The FCA is consulting on a single standard for corporate bond prospectuses, covering both large and small (less than £100,000) bond sizes. This would reduce costs and barriers for companies raising capital and give investors the information they need to make an informed decision. The aim is to encourage companies listed on stock exchanges to offer bonds in smaller sizes, improving investment opportunities for wealth managers and retail investors. More flexible and cheaper capital raising should help UK listed companies to grow.
/jlne.ws/3Eh5bIK
The third Meeting of the UK-Japan Financial Regulatory Forum
FSA
On January 30, 2025, the third Meeting of the UK-Japan Financial Regulatory Forum was held in London by the Financial Services Agency (FSA) and the HM Treasury (HMT), the Bank of England (BoE), and the Financial Conduct Authority (FCA). The Forum is based on Annex on the Regulatory Cooperation on Financial Regulation of the Agreement between Japan and UK for an Economic Partnership, which aims to exchange views on financial regulations. At the Forum meeting, participants discussed wide range of topics such as asset management reforms in each country including Japan's "Policy Plan for Promoting Japan as a Leading Asset Management Center," sustainable finance, digital finance, and banking regulation updates.
/jlne.ws/3EkcTBQ
|
| | | |
|
| Investing & Trading | | Today's top stories from equities, indices and FICC (fixed income, currencies and commodities) | Why there's now 'incredible demand for physical gold' in New York markets; Comex gold warehouse stocks have climbed 30% in 2 weeks
Myra P. Saefong - MarketWatch
A rush on physical gold, thanks to President Donald Trump's tariff plans, has fueled a rise in prices of the precious metal to fresh record highs. There are many demand drivers in gold currently, but one in particular is adding pressure to an already tight market, said Peter Spina, president and founder of gold news and information provider GoldSeek.com. "There is incredible demand for physical gold in New York markets," he said, referring to it as a "physical gold rush."
/jlne.ws/42ATp6f
BRETT ARENDS'S ROI Opinion: Retired, or nearing retirement? The DeepSeek scare should be a wake-up call.; How much risk are you taking in your investments?
Brett Arends - MarketWatch
Ariana Alisjahbana, a financial adviser in Berkeley, Calif., recently took on some new clients. They're "a lovely retired couple, who are in their mid-70s and came to our firm because their previous adviser retired," she tells me. "I was in shock: The previous adviser put them in 87% stocks and only 13% bonds. The vast majority of stocks were in just 10 single companies." Er ... say what? "They were invested much too aggressively for their situation and comfort level," she says. Worse, she adds, they had repeatedly voiced their concerns to their previous adviser, "but were dismissed."
/jlne.ws/4grQwrn
|
| | | |
|
| Environmental, Social and Corporate Governance | | Stories about environmental, social and governance investing | Goldman Sachs AM Seeks Up to $3 Billion for Climate Credit Fund
Silas Brown and Alastair Marsh - Bloomberg
Alternative lending giant Goldman Sachs Asset Management is looking to raise as much as $3 billion for a new climate credit strategy, people with knowledge of the matter said. Under the West Street Climate Credit fund, GSAM will lend to corporate players in the transition to a low carbon future, such as clean energy firms and sustainable transportation providers, said the people, who requested anonymity when discussing private matters.
/jlne.ws/4jFpr7a
Watchdog Groups Anticipate 'an All-Out War on Science and Scientists' by the Trump Administration; Some federal websites, including the White House's, have already deleted climate information, including reports on resilience and adaptation vital to U.S. communities.
Bob Berwyn - Inside Climate News
As Trump Targets Biden's Environmental Justice Initiatives, Activists Gear Up for Legal Fights
Preserving Alabama's Flagg Mountain, the Southernmost Appalachian Peak
If President Trump's first term was an indication, many government websites with environmental information on climate science will change drastically in the first months of his new administration. NASA's climate website, for example, already displays a message about moving to a "more integrated portal on science," with the word "climate" removed from the URL.
/jlne.ws/3Cu6Bz8
Denmark to Subsidize Offshore Wind in Bid to Reanimate Market; New offshore wind tender will offer 'more attractive terms'; Move comes after failure to attract bids for wind projects
Sanne Wass - Bloomberg
Denmark will offer state subsidies to offshore wind and green hydrogen projects as it seeks to revive a suffering market after a failed tender and delays to crucial infrastructure. The government will cancel its ongoing offshore wind tenders and launch a new one this year for two to three gigawatts of power with "more attractive terms," the energy ministry said in a statement on Friday. The state is ready to provide financial support and greater flexibility for bidders, it said, without specifying details or amounts.
/jlne.ws/3EsP7Ua
Oil producer Chevron uses term 'Gulf of America' after Trump renaming order
Sheila Dang - Reuters
U.S. oil producer Chevron used the term "Gulf of America" instead of Gulf of Mexico in its fourth-quarter press release on Friday, a sign of corporate America beginning to implement U.S. President Donald Trump's order to rename the ocean basin. The name change was part of a flurry of executive orders Trump issued shortly after taking office this month. Google Maps will change the name once it is officially updated in the U.S. Geographic Names System, though it will only be visible in the U.S., Google said on Monday.
/jlne.ws/40GNrhy
|
| | | |
|
| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | Wells Fargo investment bank co-CEO to retire
Rajashree Chakravarty - Banking Dive
Jon Weiss, the co-CEO of corporate and investment banking at Wells Fargo, is stepping down from his role, effective immediately, but will formally retire June 1, the company announced Thursday.
/jlne.ws/42DdAAm
JPMorgan Names Thakur Sole Global Markets Head as Sippel Exits
Hannah Levitt and Nishant Kumar. - Bloomberg
JPMorgan Chase & Co.'s Jason Sippel, co-head of global markets who was instrumental in building out the firm's equities business, is leaving, with Pranav Thakur named sole head of Wall Street's biggest trading desk. Thakur will take on his expanded role immediately, according to an internal memo Friday from commercial and investment bank co-heads Troy Rohrbaugh and Doug Petno. Sippel is going to Rokos Capital Management, the hedge fund run by Chris Rokos with $19 billion in assets, according to a person familiar with the matter.
/jlne.ws/42CSGRL
Hong Kong to open door to first single-stock leveraged ETFs in Asia; Managers will be allowed to launch leveraged and inverse ETFs tracking single stocks overseas
Madeleine Taylor, Ignites Asia - Financial Times
Hong Kong's securities regulator has announced that asset managers will be permitted to launch leveraged and inverse exchange traded funds tracking single stocks overseas, as well as defined outcome listed structured funds. The Securities and Futures Commission said in a circular that single stock leveraged and inverse ETFs and defined outcome listed structured funds had become "increasingly popular in overseas markets".
/jlne.ws/4aHn5AH
DWS CEO Hoops Blames Himself for Slow Growth in Private Credit
Steven Arons - Bloomberg
DWS Group Chief Executive Officer Stefan Hoops said he alone is to blame for the slow growth in the asset manager's private credit business. In the role since 2022, Hoops had highlighted private credit as a future growth engine for DWS shortly after taking over. But the unit has been struggling to attract investors for a fund targeting EUR1 billion ($1 billion) and some senior sales staff have been heading to the exit, Bloomberg News reported last week.
/jlne.ws/42A3jVs
Ariel Investments Starts New Fund to Tap Into Women's Sports; Project Level will take stake in NWSL expansion team in Denver; Former Washington Commanders president will be general manager
Miranda Davis - Bloomberg
Ariel Investments, a Chicago-based firm that manages $13.8 billion, is starting a new fund to buy up holdings in women's sports. The Project Level fund will make one of its first investments in a National Women's Soccer League's expansion team in Denver, Ariel Co-Chief Executive Officer Mellody Hobson said in a letter to clients Thursday. Hobson will be an alternate governor of the yet-to-be-named team, while Rob Cohen, CEO of IMA Financial Group, will be the controlling owner.
/jlne.ws/42zPg2g
|
| | | |
|
| Wellness Exchange | | An Exchange of Health and Wellness Information | Vertex Pharmaceuticals Shares Gain After FDA Approves Non-Opioid Pain Drug
Josh Beckerman - The Wall Street Journal
Shares of Vertex Pharmaceuticals rose after Journavx, the company's oral non-opioid pain medication, received Food and Drug Administration approval. The Boston company's stock rose 4.3%, to $457.25, after hours Thursday. Journavx, or suzetrigine, was approved for treatment of adults with moderate-to-severe acute pain. Vertex said it has established a wholesale acquisition cost in the U.S. of $15.50 for each 50-milligram pill and said support programs would help ensure that qualified patients can access Journavx.
/jlne.ws/4hDnUwi
From straightforward labels to GLP-1-friendly meals, here are the wellness trends that investors expect will dominate 2025
Gabriela Barkho - ModernRetail
When it comes to better-for-you CPG categories, investors expect a return to basics in 2025. Wellness-geared investors - especially those in the food, beverage and supplements space - say they are seeing a recalibration of the types of products people are interested in. For one, venture capitalists have said they will remain choosy about the number of products they're betting on and are looking to back brands with proven concepts. At the same time, they're reassessing trends to accommodate the impact of new factors, such as the rise of weight loss drug usage and functional ingredient fatigue.
/jlne.ws/3CxL4W6
The Beauty And Wellness Trends That Will Dominate 2025
Sarah Boyd - Forbes
One of my goals for 2025 is to focus on beauty and wellness treatments, tools, and techniques that will improve my day-to-day and bring long-lasting health, and I'm sure many of you have this approach to all things wellness this year as well. To get the scoop on the latest trends that I should be taking advantage of to improve everything from my sleep routine to my skincare, I spoke with Sam Cutler, a Harvard-trained nutrition coach, creator of The Fit Fatale, and founder of the nutrition-focused platform MINDFULL.
/jlne.ws/4jAia8t
|
| | | |
|
| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | Rice price rise pushes Japan to tap strategic reserves; Tokyo seeks to use national stockpile for first time since 2011 tsunami amid fears of shortage
Leo Lewis in Tokyo - Financial Times
Japan is set to respond to the highest rice prices on record by making it easier to tap its stockpile of the grain at the heart of the nation's cuisine. In a historic change, the government is for the first time set to loosen the rules on accessing strategic rice reserves. The move is part of a bid to tamp down soaring rice prices, which have contributed to overall inflation, and quell consumer fears of shortages. The stockpile was established three decades ago to protect against the risk of crop failure or natural disasters. It was last used after the 2011 tsunami and Fukushima nuclear crisis.
/jlne.ws/4jPxePU
Brazilian Bull DNA is a Coveted Commodity for Nigeria's Farmers; It's the other AI: Nigeria is importing semen to breed a new generation of cows that can withstand the African climate and produce more milk.
Emele Onu and Agnieszka de Sousa - Bloomberg
At his ranch in southwest Nigeria, Moyosore Rafiu watches as an artificial insemination specialist carefully inspects whether his cows are ready. If he gets the nod, another part of his herd will be impregnated with imported semen from the hardy Girolando breed from Brazil. Switching to cattle that can withstand the African climate means twice the milk and more income for Rafiu. But it could also be a game changer for Nigeria, home to one of the world's most food insecure populations.
/jlne.ws/3PW497w
How Taiwan became a quiet bond market superpower; And why it could blow up in everyone's face
Brad Setser and Joshua Younger - Financial Times
A lot of countries have invested a lot of money in the US. And not primarily in Nvidia and the stars of the US stock market. Most foreign investors actually buy one of the many flavours of bonds that the US has on offer. Take Taiwan. It has invested a ton in US bonds. A ton. Its holdings of foreign exchange reserves - mostly in bonds - and overseas fixed income securities together total $1.7tn.
/jlne.ws/4aBYRYx
|
| | | |
|
| Miscellaneous | | Stories that don't quite fit under the other sections | Private Credit Tapped by NYC Charity as New Source of Wealth; Charter school nonprofit Dream cultivates new donor pool; Apollo foundation gives $250,000 with goal of $2 million
Amanda L Gordon - Bloomberg
New York charities are always searching for the next generation of Wall Street leaders to support them. For Dream, which runs charter schools in the Bronx and East Harlem, the place to look is obvious: the fast-growing field of private credit, which is minting billions of dollars of new wealth for its rising stars. The nonprofit, which started with softball and baseball leagues more than 30 years ago, made its first play for the sector Wednesday night in the subterranean, book-lined Reading Room of the Whitby Hotel. It was there that Dream's elder statesmen in banking, hedge funds and private equity showed the proper respect for their ascendant colleagues at firms like Blue Owl and Sixth Street.
/jlne.ws/42CSsdn
|
| | | |
|
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. |
|
|
