5 stories
JPMorgan Chase CEO Jamie Dimon said financial markets are underestimating current geopolitical and economic risks. Dimon told an audience he personally would not buy stocks or US Treasurys at today's prices.
Australia's corporate regulator has raised concerns about the risks posed by the US private credit market to Australians' superannuation savings. ASIC is assessing how a downturn in the sector could ripple through local pension investments.
Buy-now-pay-later provider Zip has announced it is exiting the New Zealand market. The company told customers their account limits will drop to zero from mid-August.
The European Commission unveiled proposals aimed at reducing fragmentation across the EU's banking sector and making lenders more competitive, potentially unlocking billions of euros in investment. Officials acknowledged that significant political and regulatory obstacles remain before the plan can take effect.
Sen. Elizabeth Warren says the Trump administration's rollback of the Consumer Financial Protection Bureau has cost American consumers $26.5 billion. Warren's office argues reduced enforcement has let banks and credit card companies avoid fines and refunds that would otherwise flow back to households.