Category: Business

Financial markets once again have been seized by meme-stock mania. In mid-July, a frenzied rally erupted around a cohort of beaten-down companies, including Opendoor Technologies Inc., Kohl’s Corp. and Krispy Kreme Inc., fueled by a social-media buzz and a sudden surge of buying by retail investors. Source: Bloomberg Markets.

Blackstone reported a 25% jump in distributable earnings for the second quarter, buoyed by profits from its retail and evergreen funds. Blackstone President Jon Gray speaks to Bloomberg’s Sonali Basak. Source: Bloomberg Markets.

The UK will allow offshore wind farm developers to charge more for their power as mounting costs make it harder for the country to meet twin objectives of slashing emissions and customer bills. Source: Bloomberg Markets.

Accelerant Holdings and some of its backers raised $724 million in an upsized US initial public offering priced above the marketed range, the latest insurance-related listing to meet with strong demand. Source: Bloomberg Markets.

Tether CEO Paolo Ardoino says the US stablecoin industry is poised to increase US dollar hegemony and explains how they stay ahead of their competitors who are attempting to establish their own stablecoin. He speaks with Vonnie Quinn and Sonali Basak on “Bloomberg Markets.” (Source: Bloomberg) Source: Bloomberg Markets.

US Commerce Secretary Howard Lutnick talks about the trade deal reached with Japan and says it could be a model for the EU. He says larger countries will have a hard time getting a tariff rate lower than the 15% that Japan secured. He speaks on “Bloomberg Surveillance.” (Source: Bloomberg) Source: Bloomberg Markets.

South Africa’s benchmark stock index crossed the psychological level of 100,000 for the first time on optimism that a crucial budget vote will get support from key parties in the governing coalition. Source: Bloomberg Markets.

Senate Republicans released an initial discussion draft the digital asset market structure legislation, building on the Clarity Act passed by the house last week. Bloomberg’s Nathan Dean has more on the story. (Source: Bloomberg) Source: Bloomberg Markets.

Federal Reserve Chair Jerome Powell underscored the need for the banking system’s capital framework to work together effectively, adding that competition is also crucial for the banking industry. Powell delivered introductory remarks Tuesday at the Fed’s “Integrated Review of the Capital Framework for Large Banks Conference.” Source: Bloomberg Markets.