Business
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Italian Fintech Conio Secures EU Crypto-Asset Licence
Milan-based fintech Conio has cleared a major regulatory hurdle by obtaining a licence to operate as a crypto-asset service provider. Backed by Poste Italiane and Banca Generali, the firm is now cleared to offer custody, transfer, and placement services across the European Union under the new MiCAR framework.
US Judge Clears Way for Huawei CFO’s Iran Admission in Criminal Trial
A federal judge in Brooklyn has ruled that admissions made by Huawei CFO Meng Wanzhou during her 2021 deferred prosecution agreement can be presented as evidence against the company. The decision marks a significant hurdle for the telecommunications giant as it prepares for a criminal trial beginning this September.
Leonardo Maria Del Vecchio’s €10 Billion Bid to Control Delfin
Leonardo Maria Del Vecchio is maneuvering to become the largest shareholder of Delfin, the powerful holding company controlling EssilorLuxottica and major stakes in Italian finance. The 31-year-old entrepreneur is currently seeking financing for a €10 billion deal to acquire the stakes of two siblings and consolidate his influence.
Sabre UK hit with record £1 million sanction fine
Britain’s Office of Financial Sanctions Implementation has issued a record £1 million penalty against Sabre Global Technologies. The UK-based unit of the travel software giant faced the fine for maintaining service access for Ural Airlines for seven months after the UK government imposed restrictive measures following the invasion of Ukraine.
US Judge Drops Criminal Charges Against Turkey's Halkbank
A Manhattan federal judge has officially dismissed the U.S. criminal indictment against Halkbank, marking the conclusion of a high-stakes legal saga that accused the Turkish state lender of orchestrating a massive scheme to help Iran evade American economic sanctions.
Morningstar and Wall Street Giants Target Retail Private Market Access
Individual investors will soon gain a foothold in private credit and real estate through a new series of portfolios launched by Morningstar in partnership with Apollo Global Management, Franklin Templeton, and J.P. Morgan Asset Management, aiming to bridge the gap between institutional-grade assets and retail wealth management.
China eases IPO rules for AI and quantum technology startups
As Wall Street captures the global spotlight with high-profile listings from OpenAI and SpaceX, China is pivoting its domestic capital markets to secure a technological edge. The Shanghai Stock Exchange has unveiled new rules to fast-track public offerings for startups specializing in artificial intelligence and future-oriented industries.
Kevin Warsh Faces Markets on Fed Debut
Global stocks held steady on Wednesday as investors turned their attention to Kevin Warsh’s first Federal Reserve meeting as chair. While policymakers are widely expected to keep interest rates unchanged, the market is bracing for clues on how the new leadership will navigate political pressure and evolving economic data.
Leonardo Maria Del Vecchio pivots to private debt for Delfin buyout
Leonardo Maria Del Vecchio is shifting toward private debt to secure a 10 billion euro stake increase in Delfin, the family holding company that controls eyewear giant EssilorLuxottica. This pivot follows the unexpected departure of BNP Paribas from a planned banking consortium tasked with financing the high-stakes family deal.
Eurozone wage growth cools, easing ECB inflation fears
Negotiated wage growth across the eurozone is decelerating, according to fresh European Central Bank data. The figures provide policymakers with a reprieve, suggesting that the recent inflation surge triggered by energy market volatility has failed to ignite a self-reinforcing cycle of aggressive pay demands from the labor force.
EU Antitrust Chief Challenges Resistance to Cross-Border Banking Mergers
Conflict: European antitrust chief Teresa Ribera has publicly rebuked EU member states for blocking cross-border bank acquisitions, specifically targeting Germany’s recent rejection of UniCredit’s bid for Commerzbank. She argues that national protectionism fundamentally undermines the bloc's urgent need for competitive, large-scale financial institutions capable of funding massive economic transitions.
Barclays pivots to growth as STOXX 600 target hits 670
A preliminary peace deal between the United States and Iran to reopen the Strait of Hormuz has prompted Barclays to raise its year-end STOXX 600 target to 670. The brokerage officially abandoned its bearish stance on European equities, signaling a shift as regional markets recover from months of geopolitical volatility.
Australian and New Zealand firms signal strain from Gulf conflict
From aviation giants to major lenders, corporations across Australia and New Zealand are reporting significant financial strain as the U.S.-Israeli war on Iran drives up fuel costs, disrupts critical supply chains, and triggers a cooling effect on both business investment and consumer sentiment throughout the region.
HSBC Taps Google Cloud to Scale AI Across Banking Operations
HSBC has entered a multi-year partnership with Google Cloud to accelerate the integration of artificial intelligence into its global operations. Under the guidance of CEO Georges Elhedery, the bank aims to automate complex tasks and streamline internal processes, positioning the move as a central pillar of its digital transformation strategy.
Ex-Citigroup executive sues over Trump-linked account concerns
A former managing director at Citigroup has filed a federal lawsuit alleging the bank fired her in retaliation for raising alarms over risk-management practices and the potential opening of an anonymous, numbered account for Donald Trump during his presidency.
Private Equity Firm IG4 Bids for Control of Sugar Giant Raizen
Private equity firm IG4 has submitted non-binding offers to Moelis & Company and Journey Capital, seeking to acquire debt credits and operational control of Brazilian sugar and ethanol producer Raizen. The move follows Raizen’s announcement of a record-breaking 65 billion reais debt restructuring plan involving international and local creditors.
Kevin Warsh faces uphill battle to shrink Fed balance sheet
Kevin Warsh once branded the Federal Reserve’s massive bond holdings a source of economic harm, but the new chair now faces the daunting reality of managing a $6.7 trillion portfolio without destabilizing the financial system or losing control over short-term interest rates.
Goldman Sachs Hits $1 Trillion Milestone in M&A Dealmaking
Goldman Sachs has smashed records by managing over $1 trillion in announced mergers and acquisitions during the first half of 2026. This unprecedented pace for an investment bank follows the firm’s successful lead-underwriting of the SpaceX initial public offering, which debuted on the New York exchange last Friday.
Fed watchdog flags security gaps in staff international travel
The Federal Reserve faces mounting pressure to overhaul its foreign travel protocols after an internal audit revealed a lack of formal oversight for employees working abroad. The Inspector General warned that without rigorous tracking or post-trip debriefings, staff remain vulnerable to exploitation by foreign intelligence agencies seeking nonpublic financial data.
Private $300 Billion Fund Pivots Iran Reconstruction Effort
A $300 billion private investment vehicle sits at the center of the U.S.-Iran framework agreement, with more than half of that capital already committed by global firms. The fund, intended to catalyze post-conflict development, serves as a primary economic incentive for both nations to finalize a comprehensive peace deal.
Apollo Sells Invited Clubs in $3 Billion Deal as Golf M&A Hits Decade High
A post-pandemic shift toward experience-based spending has ignited a fierce market for elite leisure, culminating in Apollo Global Management’s $3 billion sale of Invited Clubs. The transaction, which transfers North America’s largest private country-club operator to KSL Capital Partners, marks the peak of a record-setting year for private club acquisitions.
Snap CEO Spiegel rejects calls to hive off AR division
Snap CEO Evan Spiegel is doubling down on the company’s augmented-reality ambitions, defying activist investor demands to offload or restructure the division behind its new $2,195 Specs glasses. Despite pressure to improve short-term margins, Spiegel insists the hardware remains a cornerstone of the firm’s long-term independence.
Investors Eye Emerging Market Private Credit as Allocation Gap Narrows
Nearly 42% of institutional investors intend to scale up their exposure to emerging market private credit within the next two years. Despite holding only a sliver of the $3.5 trillion global market, these developing economies are attracting fresh interest as portfolios seek diversification beyond traditional developed markets.
Spain’s Antitrust Regulator Targets Six Major Banks Over Mortgages
Spain’s antitrust watchdog has launched a probe into the country’s six largest listed lenders, investigating whether public comments by executives regarding interest rates on fixed-rate mortgages may have facilitated anti-competitive coordination among competitors in a highly aggressive market.
Binance faces looming EU license rejection ahead of MiCA deadline
The world’s largest cryptocurrency exchange is bracing for a potential regulatory shutdown across the European Union. Sources familiar with the matter indicate that Binance’s application for a license, submitted to the Hellenic Capital Market Commission in Greece, is headed for rejection ahead of the July deadline set by new bloc-wide rules.
UniCredit Nears Crucial Deadline in Commerzbank Takeover Bid
The German government has officially rejected UniCredit’s 40-billion-euro buyout offer as the primary tender window closes this Tuesday. With the Italian lender already controlling a 41.9% stake, the outcome of this aggressive expansion strategy now hinges on whether Andrea Orcel can navigate regulatory hurdles and persistent political opposition in Frankfurt.
Border to Coast shifts assets away from US tech concentration
The Border to Coast Pensions Partnership is trimming its exposure to American equities by up to 10%, citing discomfort with the market's heavy reliance on a narrow cohort of technology giants. The fund, which manages £120 billion in assets, is reallocating capital toward European and Asian markets to mitigate systemic risk.
Hungary Faces €15 Billion AI Productivity Pivot
Hungary stands to capture a €15 billion productivity windfall by 2030 through aggressive artificial intelligence adoption, according to a new McKinsey report. The firm warns that while the technology could bridge the nation's economic gap with European neighbors, stagnation risks leaving local industry permanently sidelined in a competitive global market.
Robinhood trims 10% of workforce to sharpen management
Robinhood is laying off 290 employees—roughly 10% of its full-time staff—in a bid to strip away layers of middle management. CEO Vlad Tenev confirmed the cuts on Tuesday, arguing that the trading platform must transition into a leaner, hyper-focused team to maintain its competitive edge in a volatile market.
Central Banks Dominate Markets Amid U.S.-Iran De-escalation
The Bank of Japan lifted its benchmark rate to 1% on Tuesday, hitting a 31-year high, as global markets recalibrated following news of a preliminary U.S.-Iran deal. While investors monitor potential tanker traffic in the Strait of Hormuz, the focus has shifted toward the week’s heavy calendar of central bank policy decisions.