Category: Banking and Financial Institutions

Mamdani Persuades C.E.O.s to Join His Business Advisory Council

The New York Times – Business:
Mayor Zohran Mamdani, a democratic socialist who has struggled to win over Wall Street, intends to use the council to help him invigorate New York City’s economy.
‘Honeymoon’s Over’: Warsh Under Pressure as Fed Weighs Raising Rates

The New York Times – Business:
Kevin M. Warsh is scheduled to deliver his first address at the Federal Reserve’s annual conference in Jackson, Wyo., with U.S. government bond markets on edge and inflation risks resurfacing.
Forbes Suspends Shook Research Rankings as It Investigates $6 Million Payment

The New York Times – Business:
The magazine, which is reviewing a payment from the founder of Shook Research to its former top editor, also canceled a summit in Las Vegas scheduled for October.
S.E.C. Investigating Near-Implosion of A.I. Hedge Fund

The New York Times – Business:
Regulators sent subpoenas to major Wall Street banks seeking information about the trading of Situational Awareness, three people briefed on the outreach said.
Two Binance Employees Detained in the U.A.E. Amid Police Inquiries

The New York Times – Business:
The detentions of the workers, who have been released, are a sign of legal pressure that the world’s largest crypto exchange faces in the Emirates, which is home to its main regulator.
Several Big Brokerages Leave Customer Accounts Open to Theft, Senators Say

The New York Times – Business:
Senators Ron Wyden and Elizabeth Warren, ranking Democrats on the Finance and Banking Committees, have urged regulators to require brokerages to provide stronger customer protections.
Treasury Turns to Interventionist Tactics to Lower Interest Rates

The New York Times – Business:
Treasury Secretary Scott Bessent is reinventing the government’s role in the world’s most important bond market.
Trump, Who Has Amassed Enormous Wealth in Crypto, Hosts Industry Leaders

The New York Times – Business:
President Trump called on Congress to pass a major cryptocurrency bill that would tilt regulation in the industry’s favor.
‘Buy Now, Pay Later’ Lenders Pitch Loans for Needs Like Electricity and Rent

The New York Times – Business:
The rapid growth of pay-later loans raises questions about whether their popularity is driven by consumer preference or desperation.
Why Japan Is Struggling to Stop the Yen’s Decline

The New York Times – Business:
The currency has resumed its slide, eroding gains after the U.S. Treasury intervened to prop it up, as concerns mount about the direction of the country’s spending.
Wall St. Wants Another Half-Trillion Dollars for the A.I. Boom

The New York Times – Business:
Six giant investment firms announced a $500 billion effort to raise money for customers of Nvidia to pay for computing power.
The Fed Didn’t Raise Rates. The Bond Market Did.

The New York Times – Business:
The market is saying risks are rising. That means hardship for home buyers and higher hurdles for A.I. data centers and the stock market. But it’s also a boon for retirees.