Ant International and Mexico's Clip have launched the Mi Clip e-wallet, aiming to reduce cash dominance in Mexico by offering financial services and credit solutions. The initiative leverages AI and Mastercard's network to build formal financial identities for users.
New York City ranks first globally for financial services talent, excelling in labor index and VC funding. However, the industry's center of gravity is shifting east, with Asia-Pacific cities like Shanghai, Beijing, and Hong Kong showing significant growth.
South Korea's Financial Services Commission (FSC) has established an AI-based insurance fraud prevention task force to address an estimated 9 trillion won in annual insurance fraud. The TF will focus on legal grounds, data sharing, and AI pattern analysis to enhance the insurance industry's reliability and prevent financial leaks.
Taiwan's National Development Council (NDC) has selected six banks to pilot a "one-stop financial service" program aimed at easing banking and credit card application difficulties for international talent. The initiative seeks to create a more welcoming financial environment for foreign professionals in Taiwan.
A UK House of Lords committee has advised the Bank of England to reconsider proposed stablecoin caps and reserve requirements, arguing they could stifle the development of a pound-denominated stablecoin market before it even begins.
New York's NYDFS and the EU's EBA signed an MOU to share information on the $314 billion stablecoin market, aiming to enhance oversight, identify risks, and coordinate responses during crises. This collaboration addresses concerns about stablecoin runs and dollar dominance in the sector.
Sun Life Hong Kong is transforming its operations by integrating AWS cloud and generative AI, exemplified by its AI-powered "Advisor Buddy" tool. This human-centric approach enhances advisor capabilities, streamlines client interactions, and prioritizes responsible innovation and data governance.
The Financial Services Agency (FSA) has asked financial institutions nationwide to prepare for cyberattacks, including potential system shutdowns, due to the risk of a newly developed AI, "Claude Mythos," being misused. Institutions are urged to develop short-term countermeasures within approximately one month.
Hong Kong's Treasury Minister Christopher Hui sees gold as a "potential bridge" between traditional and digital finance, emphasizing the need to foster the city's digital asset market. He noted the convergence of finance and the decision against a separate digital asset regulator.
Kazakhstan aims to deepen financial services cooperation with Hong Kong, viewing it as a hub for renminbi capital access via bond issuances. The Central Asian country also seeks institutional and technological integration in areas like digital finance and AI.
The UK has banned imports of uranium from Russia, effective May 20, 2026. The new trade restrictions also prohibit related technical assistance and financial services, though exemptions exist for nuclear installations in third countries and uranium exported before the ban.
PCT Litigation Trust has sued Swan Bitcoin, alleging the firm used inside information to withdraw nearly $1 billion in assets before Prime Trust's 2023 collapse. The suit seeks repayment of 11,992 BTC, stablecoins, and XRP.
Press reports on the King's Speech largely ignored the proposed Financial Services Bill, which aims to downgrade the Financial Ombudsman Service (FOS) under the guise of "modernisation." Critics argue this reflects industry lobbying, as consumers lack the organized influence of financial firms.
Russia is looking to expand its pilot Islamic banking program due to growing demand for Sharia-compliant financial products. The program, launched in 2023 in four Muslim-majority regions, may see its first unified standard adopted within a month.
Bermuda Premier David Burt announced several crypto-related initiatives to bring the island nation closer to the industry, including accepting and investing in digital assets and on-chain financial services.
An event by MFA. In the year since the Government’s flagship Leeds Reforms and Financial Services Growth and Competitiveness Plan, what progress has been made in rewiring the UK’s financial system for a much-needed boost to growth? This event brings together key figures from Westminster, the financial regulators and the financial services industry to consider […]
Singapore’s Grab reported first-quarter profit that exceeded analysts’ estimates, helped by resilient demand for ride hailing and delivery in a market rattled by economic and political challenges. Southeast Asia’s biggest ride-hailing and delivery firm has been trying to boost spending on its platform by incorporating artificial-intelligence features into its superapp and bundling its core ride-hailing, delivery and financial services. With oil and gas prices soaring due to the war in the Middle...
Senators Elizabeth Warren and Ron Wyden are seeking information from Commerce Secretary Howard Lutnick and Tether CEO Paolo Ardoino regarding a reported loan from Tether to a trust benefiting Lutnick's children, citing potential conflicts of interest.
KPMG has initiated layoffs impacting around 400 employees in its US Advisory division, a move stemming from a strategic restructuring due to shifting demand in consulting services. While regulatory risk, customer operations, and financial services are affected, growth areas like AI and strategy remain strong. This follows earlier workforce adjustments in the audit business.
Tether Investments announced proposals for a triple merger combining Twenty-One Capital, Strike, and Elektron Energy into what it calls 'the premier listed Bitcoin company in the world.' Twenty-One Capital holds 43,514 BTC (~$3.3B), ranking second among public companies. Strike operates in 100+ countries with a $2.1B credit facility. Elektron Energy manages 50 EH/s mining capacity (~5% of network).
KPMG has initiated layoffs impacting around 400 employees in its US Advisory division, a move stemming from a strategic restructuring due to shifting demand in consulting services. While regulatory risk, customer operations, and financial services are affected, growth areas like AI and strategy remain strong. This follows earlier workforce adjustments in the audit business.
Former U.K. Attorney General Geoffrey Cox was paid £93,000 for 62 hours of legal work since December for ABH Holdings S.A., a Luxembourg-based company whose shareholders include sanctioned Russian oligarchs Mikhail Fridman and Petr Aven. Both were placed on the UK Sanctions List in March 2022 following Russia's invasion of Ukraine. Cox, a serving Conservative MP, is also representing investors in an abandoned Cumbria coal mine project suing the UK government via ISDS — the first such cases against the UK since 2006.
Anand Rathi Shares analyst Mehul Kothari recommends three stocks with bullish technical setups: Jio Financial Services (buy ₹255-₹250, target ₹280) showing inverse Head & Shoulders reversal, Hindustan Zinc (buy ₹630-₹615, target ₹700) with breakout above ₹610 indicating trend continuation strength, and PVR INOX (buy ₹1020-₹1000, target ₹1180) forming base near 88.6% Fibonacci retracement. All recommendations include stop losses.
Mirae Asset ShareKhan's Head of Retail Research Somil Mehta recommends buying Lupin (buy Rs 2324-2325, SL Rs 2204, target Rs 2470), Jio Financial Services (buy Rs 253-254, SL Rs 243, target Rs 267), and Adani Ports and Special Economic Zone (buy Rs 1628-1629, SL Rs 1555, target Rs 1720) as of April 28, 2026. All three stocks show bullish technical patterns with momentum indicators supporting upward movement.
