Author: Charlotte

Wall Street’s largest asset managers are increasingly competing to manage the assets backing stablecoins, a market that could swell into the trillions of dollars as digital dollars become a larger part of the financial system. State Street Investment Management introduced the State Street Stablecoin Reserves Money Market Fund on Tuesday, a government money market fund designed specifically for stablecoin issuers operating under the framework established by the $GENIUS Act. The fund’s introduction comes as traditional financial (TradFi) firms race to position themselves as key providers of reserve management services for stablecoin issuers. Stablecoins, which are typically pegged to the U.S.…

Clearlake Capital has closed its eighth flagship private equity fund with $14.8 billion in capital commitments, positioning the firm to expand investments in companies benefiting from artificial intelligence, software modernization, digital transformation and operational efficiency trends reshaping global industries. The fundraising includes Clearlake Capital Partners VIII, related co-investment vehicles and separately managed accounts. The close represents one of the larger private equity fundraises completed in a challenging fundraising environment and reflects continued institutional investor demand for sector-focused investment strategies with established track records. The Santa Monica-based investment firm said nearly 300 existing and new investors from 35 countries across six…

China signals: Chow Tai Fook’s gold problem, coffee war goes downmarket, AI models misfireA surge in gold prices masks softer demand at Chow Tai Fook; Luckin and Starbucks take their fight into China’s lower-tier cities; and AI-generated fashion images meet shopper resistance. Source link

Altcoin Season Next Cycle?In a market update on June 15, Kevin Capital said the altcoin market is beginning to show signs of basing against Bitcoin after a prolonged downtrend.The Total Others versus Bitcoin chart is approaching the same major support area that marked the beginning of altcoin recovery in 2019. “I do believe there will be an altcoin season next cycle, unlike the last cycle that we just had,” he said.The analyst pointed to the end of the Federal Reserve’s quantitative tightening program as a key macro shift. Liquidity conditions are becoming less restrictive, which historically benefits risk assets such…

Never one to shy from a striking short hair transformation, Helen Mirren has become the latest celebrity to adopt the nostalgic pixie bob haircut. Characterised by its soft layers, cropped length and gentle texture, the style blends two iconic ’90s cuts to deliver a flattering, low maintenance end result. “Helen Mirren has always embraced variations of shorter styles and bobs,” says Abi Constanza, session stylist. “She’s never been afraid to experiment with different shapes and silhouettes, and I think this shorter bixie is a perfect example of that.”She explains that Mirren’s latest cut is more playful and modern than her…

Wyoming has become the first state in the U.S. to launch its own stablecoin. And with that launch, Bloomberg News reported Tuesday (June 16), comes a debate about what the Frontier Stable Token means for the cryptocurrency industry. Governor Mark Gordon told Bloomberg he’s been a “cautious adopter” of the coin, focused more on making sure they are reliable before worrying about sales. “We’re not trying to be the fastest horse in the barn,” Gordon said. “We’re trying to actually be the one that you can take out and make sure it works.” The report adds that Wyoming — the smallest state in…

Alan Cumming as Leo Struthers | Image: © Channel 4/Ben Blackall 4 min read40 min Brilliantly scripted, with standout performances, this dark new drama from the pen of Russell T Davies is a wake-up call to the erosion of LGBT+ rights and the corrosive impact of social media While I’m a massive fan of Russell T Davies, I’ve been putting off watching his latest drama for Channel 4, Tip Toe. Partly because I’ve not entirely recovered from the emotional onslaught that was It’s a Sin and its perfectly styled period piece exploration of the 1980s Aids…

D.E. Shaw, the quantitative hedge fund powerhouse managing over $90 billion in assets, is doing something that sounds counterintuitive in an industry obsessed with gathering more capital: telling investors to stop sending money. The New York-based firm is closing its Valence and Multi-Asset hedge funds to new investments, effective at year-end. Both funds held less than $10 billion each in external capital. At the same time, D.E. Shaw is tightening the exit doors on its two flagship vehicles, making it harder for existing investors to pull their money out. The details behind the closures Investors in the Composite fund will…

China’s economic performance in May indicates growing unevenness, with mixed signals coming from various sectors. Industrial output rose 4.5% year-on-year, surpassing expectations, yet retail sales saw a 0.6% decline, marking the first drop since December 2022.The export sector’s gains, bolstered by global AI investment, haven’t translated into increased domestic consumption. The auto industry further exhibited sluggish demand, experiencing its eighth straight month of declining car sales, even as labor-focused holidays failed to revive consumer activity.Data points to deep-rooted imbalances within China’s economy, as factory-gate inflation climbs and consumer inflation stays stagnant. Investment has also weakened considerably, with property investments plunging.…

Private equity execs warn law and accountancy most vulnerable to AI Business Post Source link