A prominent group of lawmakers from the UK’s House of Lords has criticized the Treasury for its “limited grasp” of risks related to the boom in private capital markets and said that the Bank of England needs to move faster in its plans for stress testing the sector. The Financial Services Regulation Committee, which concluded a months-long inquiry into private markets late last year, said that evi...
A prominent group of lawmakers from the UK’s House of Lords has criticized the Treasury for its “limited grasp” of risks related to the boom in private capital markets and said that the Bank of England needs to move faster in its plans for stress testing the sector. The Financial Services Regulation Committee, which concluded a months-long inquiry into private markets late last year, said that evidence given by the Treasury suggested “passivity in the face of potential risks” to financial stability. On the Bank of England, the committee said it should complete its planned review of the market “as a matter of urgency.” The inquiry said it didn’t have sufficient evidence to determine whether or not private markets represent a systemic risk, but that its rapid growth and interconnectedness with banks and insurers are concerns. “One is hoping very much that Jamie Dimon ’s cockroaches don’t come this side of the Atlantic,” Lord Hollick , a member of the 13-strong committee, said in an interview. The JPMorgan Chase & Co. CEO warned last year that there are probably more “ cockroaches ” lurking in highly competitive corporate credit markets after the collapse of two US companies. “It’s all part of the same market internationally with the same players. So this needs to be high on the agenda for both the regulators and the Treasury, separately,” Hollick said. Private markets have grown rapidly across the world as post-crisis regulation tamped down riskier forms of bank financing, while a prolonged period of low interest rates fueled private equity buyout activity. Globally, private market assets under management have reached about $16 trillion, according to the BOE’s Financial Stability Report in July. The Committee urged the Treasury to provide details on how it plans to assess and respond to potential risks emerging from private capital markets. Hollick said that the Treasury needs to address questions including whether the market is being regulated properly and whether it...
Emily Henry’s hit book has been adapted into a glossily made yet charmless attempt to resurrect the friends-to-lovers formula Released just as the weather turns to freezing and we’re all daydreaming of an escape, Netflix’s early January romcom People We Meet on Vacation is at the very least smartly timed. Produced as part of the streamer’s Sony deal, it benefits from some real studio gloss (proper...
Emily Henry’s hit book has been adapted into a glossily made yet charmless attempt to resurrect the friends-to-lovers formula Released just as the weather turns to freezing and we’re all daydreaming of an escape, Netflix’s early January romcom People We Meet on Vacation is at the very least smartly timed. Produced as part of the streamer’s Sony deal, it benefits from some real studio gloss (proper lighting!) and as Polo & Pan’s perfectly balmy Nana plays over a transporting shot of our heroine lounging on a beach (the song was also used in Netflix’s underrated Christmas romcom Let it Snow ), I was ready to relax with her. But what a brief escape it turned out to be … The adaptation of Emily Henry’s much-loved 2021 novel has the superficial trappings all in check (eyes with permanent twinkles, unrealistic main character job in this climate, more easily affordable Taylor Swift song on the soundtrack) but no heart or soul to go with it. There’s simply nothing to root for or care about or grasp on to, just the limp tracing of something we’ve seen many many times before. Its closest comparison would be When Harry Met Sally, a similar journey that turns friends into lovers over a fairly epic time span (the pair even meet in the exact same way, forced to drive home together from college). But what felt lived in and genuinely human back in 1989 now feels shallow and synthetic in 2026, a grim start to the year for a genre I keep hoping and praying for. Continue reading...
Alolita Tekapu and her family among the first arrivals under a world-first agreement that allows people from Tuvalu to move to Australia On a suburban street in eastern Melbourne on a cool summer’s day, Alolita Tekapu sits on the couch feeding her one-month-old son, Philip, while her three older boys play outside. Her husband folds laundry nearby, pausing occasionally to check on the children. It’...
Alolita Tekapu and her family among the first arrivals under a world-first agreement that allows people from Tuvalu to move to Australia On a suburban street in eastern Melbourne on a cool summer’s day, Alolita Tekapu sits on the couch feeding her one-month-old son, Philip, while her three older boys play outside. Her husband folds laundry nearby, pausing occasionally to check on the children. It’s an ordinary domestic scene. But the reason this family are in Australia is far from ordinary. Continue reading...
Macclesfield and Weston-super-Mare carry the non-league hopes while fringe players need to seize their chances Silly goals conceded, chances missed, a lead surrendered and points squandered against relegation fodder . On the face of things, Manchester United have changed manager but nothing else. The reality is different. They started slowly at Burnley, settling into a 4-2-3-1 formation that suits...
Macclesfield and Weston-super-Mare carry the non-league hopes while fringe players need to seize their chances Silly goals conceded, chances missed, a lead surrendered and points squandered against relegation fodder . On the face of things, Manchester United have changed manager but nothing else. The reality is different. They started slowly at Burnley, settling into a 4-2-3-1 formation that suits them – and pretty much every other team – far better than Ruben Amorim’s 3-4-2-1 before, midway through the first half, they started to play. The deployment of Bruno Fernandes close to the opposition goal, along with a wide player, Patrick Dorgu, playing on his natural side, meant Benjamin Sesko was, for the first time, provided with decent service. Then, following Jaidon Anthony’s equaliser, Darren Fletcher’s side risked defeat by going all out for the win – one nearly achieved through the timely introduction of Shea Lacey, a richly talented 18-year-old. Brighton will present far stiffer opposition but, for the first time in a long time, United are doing what United are meant to do. Daniel Harris Manchester United v Brighton, Sunday 4.30pm (all GMT) Macclesfield v Crystal Palace, Saturday 12.15pm Grimsby v Weston-super-Mare, Saturday 5.45pm Manchester City v Exeter, Saturday 3pm Continue reading...
Japanese Prime Minister Sanae Takaichi, riding high in opinion polls, is expected to call a general election in the coming months to capitalise on her popularity and seize the opportunity to rebuild a Liberal Democratic Party-led government. Takaichi has done little to play down the possibility, telling a news conference on Monday: “It is important that the public can feel the tangible effects of ...
Japanese Prime Minister Sanae Takaichi, riding high in opinion polls, is expected to call a general election in the coming months to capitalise on her popularity and seize the opportunity to rebuild a Liberal Democratic Party-led government. Takaichi has done little to play down the possibility, telling a news conference on Monday: “It is important that the public can feel the tangible effects of our measures against rising prices and our economic policies. We are working hard to tackle the...
Investment advisers can use artificial intelligence to help them make proxy voting decisions, a Securities and Exchange Commission official said. “As advisers grapple with the scale and complexity of proxy voting — especially across large portfolios — AI tools like large language models and agentic AI, offer a compelling opportunity,” Brian Daly , director of the Division of Investment Management,...
Investment advisers can use artificial intelligence to help them make proxy voting decisions, a Securities and Exchange Commission official said. “As advisers grapple with the scale and complexity of proxy voting — especially across large portfolios — AI tools like large language models and agentic AI, offer a compelling opportunity,” Brian Daly , director of the Division of Investment Management, said Thursday in prepared remarks for a New York City Bar Association event. AI models that can not only advise but also execute their recommendations shouldn’t be used to replace human judgment, Daly said. He noted in his speech that he was speaking only on his own behalf and not for commissioners or staff. The comments mark a pivot away from former SEC Chair Gary Gensler ’s far more cautious view on AI. The Biden-era regulator frequently warned about the risks of concentration among AI providers that could introduce systemic risk or harmful outcomes if too many firms relied on companies using the same underlying data. Daly’s remarks came as part of a broader speech outlining greater permissiveness in how investment advisers make proxy voting decisions. For example, he said investment advisors can make their own decisions on whether to vote on certain proxy proposals or whether to even engage a proxy advisor at all. “Investment advisers that determine proxy voting is not required by, or may even be inconsistent with, their investment program should not be afraid to take that position,” he said. The SEC is still considering how to act on President Donald Trump ’s recent executive order that would impose significantly more requirements on proxy advisers, which is an industry dominated by Glass Lewis & Co. and Institutional Shareholder Services Inc. Those firms make recommendations to investors and asset managers about how to vote but opponents have argued they exercise out-sized influence over corporate actions. Read More: Trump Orders SEC to Review Proxy Adviser Rules in E...
Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures, and commercializes high-quality medicines for the treatment of oncology, autoimmune, cardiovascular and metabolic, ophthalmology and other major disease areas, today announced that the company's partner Ollin reported positive topline results from its randomized, head-to-head P...
Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures, and commercializes high-quality medicines for the treatment of oncology, autoimmune, cardiovascular and metabolic, ophthalmology and other major disease areas, today announced that the company's partner Ollin reported positive topline results from its randomized, head-to-head Phase 1b JADE clinical study comparing IBI324 (Ollin R&D code:OLN324), a next-generation VEGF/Ang2 bi
Gold steadied, as traders weighed a stronger dollar and US economic data due Friday that will set the tone for interest-rate policy this year. Bullion was little changed near $4,475 an ounce, having risen 3.4% in the week through Thursday. It may face some downward pressure after US initial jobless claims came in slightly lower than expected for the week ending Jan. 3. The Bloomberg Dollar Spot In...
Gold steadied, as traders weighed a stronger dollar and US economic data due Friday that will set the tone for interest-rate policy this year. Bullion was little changed near $4,475 an ounce, having risen 3.4% in the week through Thursday. It may face some downward pressure after US initial jobless claims came in slightly lower than expected for the week ending Jan. 3. The Bloomberg Dollar Spot Index , a gauge of the US currency’s strength, has gained 0.5% this year, making gold more expensive for most buyers. December jobs data due Friday will offer clues to whether the Federal Reserve will reduce interest rates again after three successive cuts in 2025 — a tailwind for non-yielding precious metals. The nonfarm payrolls numbers are expected to show stronger hiring but unemployment should remain steady — conflicting signals that are unlikely to build urgency for the Fed to resume rate cuts, according to Bloomberg Economics. Gold was little changed at $4,475.75 an ounce as of 7:44 a.m. in Singapore. Silver slipped 0.5%, having also fallen in the previous two sessions, though it remains on track for a weekly gain. Platinum and palladium edged lower.
The Financial Industry Regulatory Authority has proposed rule changes aimed at combating investment scams — particularly against senior citizens — in part by empowering broker-dealers to extend delays on suspicious transactions. The proposal, released Thursday , would add as much as three months to the amount of time brokerage firms can place holds on the accounts of clients 65 and older when they...
The Financial Industry Regulatory Authority has proposed rule changes aimed at combating investment scams — particularly against senior citizens — in part by empowering broker-dealers to extend delays on suspicious transactions. The proposal, released Thursday , would add as much as three months to the amount of time brokerage firms can place holds on the accounts of clients 65 and older when they suspect financial exploitation. Current rules allow them to halt transactions for as long as 55 days. “Given the complexity of modern fraud schemes and the time required for effective investigation and intervention, FINRA believes that extending the permissible temporary hold period would provide member firms with additional time to work with customers, trusted contacts and appropriate authorities to prevent or mitigate harm,” the self-regulatory body said. Americans over 60 lost more than $4.8 billion to fraud in 2024, according to Finra, which said losses are likely higher than reported to authorities. Scammers employ sophisticated tactics, including artificial intelligence, to cheat people out of their money, the agency said. Read More: As Elder Fraud Explodes, Banks Beat Back Duty to Call Cops In addition to the rules aimed at protecting seniors, the proposal also called for broker-dealers to be permitted to temporarily delay disbursements or transactions for any customers, regardless of age, as long as five business days when there’s a possibility of fraud. The new rules also would allow firms to use the term “emergency contact” instead of “trusted contact person” in client investment accounts as a way to encourage customers to include details on people to contact in case of suspicious activity. It is seeking public comment on the new rules, setting a deadline of March 9.
Trump Seeks $6 Million Legal Fee Reimbursement For Dismissed Georgia Election Case Authored by Bill Pan via The Epoch Times (emphasis ours), President Donald Trump is asking the state of Georgia to reimburse $6.26 million in attorney fees and costs he incurred defending against his now-dismissed election interference case in the state. (Left) Fulton County District Attorney Fani Willis at the Atla...
Trump Seeks $6 Million Legal Fee Reimbursement For Dismissed Georgia Election Case Authored by Bill Pan via The Epoch Times (emphasis ours), President Donald Trump is asking the state of Georgia to reimburse $6.26 million in attorney fees and costs he incurred defending against his now-dismissed election interference case in the state. (Left) Fulton County District Attorney Fani Willis at the Atlanta Police headquarters in Atlanta on May 3, 2023. (Right) Former President Donald Trump prepares to deliver remarks in Las Vegas on July 8, 2023. Megan Varner; Mario Tama/Getty Images In a motion filed Jan. 7 in Fulton County Superior Court, Trump’s legal team cited a 2025 Georgia law under which if a prosecutor is disqualified from a case because of improper conduct and the case is subsequently dismissed, defendants in that case are entitled to request “all reasonable attorney’s fees and costs incurred” in their defense. Fulton County District Attorney Fani Willis had indicted Trump over an alleged unlawful conspiracy to overturn the 2020 election results in Georgia, one of four criminal cases he faced while running for another term as president. The Georgia Court of Appeals later disqualified Willis due to an “appearance of impropriety” stemming from her romantic relationship with special prosecutor Nathan Wade, whom she had hired to lead the case. The ruling was subsequently upheld by the Georgia Supreme Court. The case formally ended in late November 2025, when the special prosecutor who took over chose not to move forward with any charges. Trump’s motion seeks a total reimbursement of $6,261,613.08. The filing includes more than 200 pages of documentation to show how the money was spent, most of it on legal fees. According to the filing, over $2.31 million went to the law firm of Jennifer Little, Trump’s longest-serving attorney on the case. Drew Findling, who represented Trump in the case for about a year, was paid $1.46 million to his firm. Steve Sadow, who replaced...
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Bank of America Merrill Lynch’s Jill Carey Hall, Cyera’s Yotam Segev, Morgan Stanley’s Betsy Graseck, Development Partners International’s Runa Alam, Franklin Templeton’s Berkeley Belknap, Former Reserve Bank of India Governor...
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Bank of America Merrill Lynch’s Jill Carey Hall, Cyera’s Yotam Segev, Morgan Stanley’s Betsy Graseck, Development Partners International’s Runa Alam, Franklin Templeton’s Berkeley Belknap, Former Reserve Bank of India Governor Raghuram Rajan, Council on Foreign Relations’ Shannon O’Neil, Hamilton Lane’s Elizabeth Bell, Brown Harris Stevens’ Bess Freedman, IMAX’s Richard Gelfond. (Source: Bloomberg)
STORY: Wall Street ended mixed on Thursday, with the Dow gaining more than half a percent, the S&P 500 flat and the Nasdaq shedding just under half a percent. Shares of major tech companies including Nvidia, Broadcom and Microsoft declined, as investors grew more finicky about AI-related stocks whose valuations have been inflated by outsized gains. Shana Orczyk Sissel, founder and CEO of Banríon C...
STORY: Wall Street ended mixed on Thursday, with the Dow gaining more than half a percent, the S&P 500 flat and the Nasdaq shedding just under half a percent. Shares of major tech companies including Nvidia, Broadcom and Microsoft declined, as investors grew more finicky about AI-related stocks whose valuations have been inflated by outsized gains. Shana Orczyk Sissel, founder and CEO of Banríon Capital Management, said investors will likely become increasingly selective as the AI trade progresses. "2025 started as the year of AI. 2026 is going to be more of the same, but I do think that we're going to start to see more clear winners and losers. My focus is less on the folks who are trying to build AI tools for consumers and need to monetize that technology. I'm much more interested in the companies that that are part of the infrastructure of AI, the folks who make the chips, the folks who are involved in data center development, energy efficiency at the data center level, and anything related to the infrastructure of AI." Still, shares of Alphabet gained on Thursday, a day after the Google parent surpassed Apple in market capitalization for the first time since 2019 to become the second-most valuable U.S. company. Among other stock moves, shares of defense companies gained after President Trump said the 2027 U.S. military budget should be $1.5 trillion, much higher than the roughly $900 billion approved by Congress for 2026. Shares of Northrop Grumman added more than 2%, Lockheed Martin rose more than 4%, and Kratos Defense jumped almost 14%. Traders now turn their attention to Friday's crucial nonfarm payrolls report for December, one of the first reliable economic datasets since the record-long government shutdown.