Business

Bank of England (BOE) governor Andrew Bailey recently warned against banks issuing stablecoins, saying that the Bank of England should focus on tokenizing deposits instead. Stablecoins introduce systemic risks to banking institutions that could destabilize the entire financial system, causing sovereign governments to lose control over their currencies, the BOE official told The Sunday Times in an interview.  He also …

Morning Bid: The art of hogging headlines, using tariffs  Reuters Trump’s trade tactics could boost markets despite tariff threats, former WH advisor says  KFOX Steve Moore says Trump has gotten ‘really good’ tariff deals  MSN Source link

Key Takeaways PENGU soared nearly 90% after Justin Sun’s viral post and ETF speculation boosted momentum. TRON’s Sun slashed gas fees by 30% via STRX staking, with more network upgrades underway. Pudgy Penguins [PENGU] is back in the spotlight after a surprise endorsement from Tron [TRX] founder Justin Sun sent the memecoin soaring. The double-digit rally came alongside fresh plans …

Malaysia says trade permit required for AI chips of U.S. origin  Reuters Malaysia to Require Permits on Trade of High-End US AI Chips  Bloomberg.com Malaysia tightens export controls on US-origin AI chips  thestar.com.my US blocks AI chip access to China, warning sign for Thailand, Malaysia  Nation Thailand Malaysia Tightens Rules on Movement of U.S.-Made AI Chips  The Wall Street Journal Source link

Asia-Pacific markets close mixed Asia-Pacific ended the day mixed Monday. Hong Kong’s Hang Seng Index added 0.26% to close at 24,203.32, while the mainland’s CSI 300 index was flat at 4,017.67. Japan’s Nikkei 225 benchmark lost 0.28% to close at 39,459.62, while the broader Topix index was flat at 2,822.81. Meanwhile, South Korea’s Kospi index increased by 0.83% to close at 3,202.03, while the small-cap Kosdaq moved down …

Lonely children and teens are replacing real-life friendship with AI, and experts are worried. A new report from the nonprofit Internet Matters, which supports efforts to keep children safe online, found that children and teens are using programs like ChatGPT, Character.AI, and Snapchat’s MyAI to simulate friendship more than ever before. Of the 1,000 children aged nine to 17 that …

Wealth funds warm to active management – and China – to weather volatility, report shows  ReutersView Full Coverage on Google News Source link

Jane Street deposits $560mn in step to lift India trading ban  Financial Times Jane Street deposits $567 million so it can resume India trading  Reuters Jane Street is chucked out of India. Other firms should be nervous  The Economist Jane Street ban triggers 21 per cent crash in NSE derivatives turnover, exposes market dependence  The Indian Express Jane Street Deposits $564 Million in Options …

Jane Street Deposits $564 Million in Options Gains Asked By SEBI  Bloomberg.com Jane Street deposits $567 million so it can resume India trading  Reuters Jane Street is chucked out of India. Other firms should be nervous  The Economist Jane Street ban triggers 21 per cent crash in NSE derivatives turnover, exposes market dependence  The Indian Express Jane Street Deposits Rs 4,800 Crore In Escrow …

JPMorgan has reportedly told FinTechs it will begin charging for access to customer bank info. That’s according to a report Friday (July 11) from Bloomberg News, which noted these fees from the largest American bank could amount to hundreds of millions of dollars, threatening the FinTech sector’s business model. The bank has sent pricing sheets to data aggregators — which …