Hedge funds last week rushed into global industrial stocks and dumped U.S. equities, which on Friday suffered their worst one-day sell-off since April as tariff woes resurfaced, Goldman Sachs said in two notes. Hedge funds held more short than long positions in U.S. stocks for the first time in seven weeks, one of the notes from Goldman Sachs’ research desk said.
London-based digital finance firm Revolut’s UK banking licence is being held up due to regulators’ concerns over whether its risk controls can keep pace with the rapid growth of its overseas operations, the Financial Times reported on Tuesday. Revolut received a UK banking licence with some restrictions in 2024, which was a step forward in its journey towards eventually listing on the stock market.
The need for emerging economies to be more transparent about their debt is one issue uniting wealthy countries and multilateral lenders in a fractious, divided world where the international order and development finance face pressure. The World Bank in June launched a call for “radical” debt transparency and the United States outlined transparency as a key goal for international financial institutions under President Donald Trump’s leadership.
