Hong Kong police arrested a 72-year-old local man for allegedly practising dentistry illegally at a North Point shop promoting a mainland Chinese dental clinic. The arrest followed calls from the local industry for stricter regulation.
The UK government has designated Microsoft, Google, Amazon, and Oracle as "critical third parties" to oversee their cloud services, enhancing financial system stability. The regulation, effective July 13, targets major cloud providers due to increasing financial sector reliance on their services.
JPMorgan Chase CEO Jamie Dimon is strongly opposing the CLARITY Act, warning that stablecoins offering yield could lead to a 'shadow banking' crisis similar to 2008. Banks argue they lack regulatory safeguards, while crypto firms see them as consumer choice.
JPMorgan CEO Jamie Dimon strongly opposes the CLARITY Act, warning that yield-paying stablecoins could create a 'shadow banking' crisis similar to 2008. He vows to fight the bill, which aims to regulate digital assets but faces debate over interest payments on stablecoins.
RBI's updated NBFC rules, effective July 1, 2026, have tightened definitions of public funds and overseas investments, preventing Tata Sons from exiting regulatory oversight and avoiding a mandatory public listing. The holding company's strategy to deregister as a core investment company is now invalidated.
India has removed cough syrups from Schedule K of the Drugs Rules, 1945, ending a decades-old exemption that allowed their sale without a doctor's prescription in villages under 1,000 population. This change aims to enhance regulatory oversight and traceability, following concerns over contaminated syrups linked to child deaths.
A fire at a Malviya Nagar B&B, claiming 21 lives including foreign nationals, may lead to culpable homicide charges. The owner is absconding, and the building operated without a fire NOC and with multiple violations.
John Oliver devoted his latest deep dive on HBO's 'Last Week Tonight' to prediction markets like Kalshi and Polymarket, questioning Donald Trump Jr.'s advisory role with both platforms and criticizing the CFTC for not blocking event contracts on terrorism, assassination and war. Oliver highlighted how easily outcomes can be manipulated, citing Coinbase CEO Brian Armstrong's deliberate mention of crypto terms during an earnings call to help users win bets. The segment comes as prediction market trading volume has surged, with projections reaching $1 trillion by 2030, while gaming authorities in multiple states sue these platforms and traditional financial firms like Charles Schwab and Citadel Securities signal interest in entering the market.
