Economy
Fed minutes reveal sharp split over signaling near-term rate cuts
April Fed minutes show an 8-4 vote to hold rates and a sharp split over whether to signal openness to future cuts as inflation and energy risks persist.
Finance
Markets, economy, and industry.
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Industry
Warren Challenges OCC Over Crypto National Trust Charters
Sen. Elizabeth Warren requested OCC charter applications and legal analyses, arguing crypto trust charters let firms perform bank-like activities beyond legal limits.
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Financial Markets
SEC Proposes Major Rewrite of Registered Offerings and Public-Company Reporting
SEC proposes broad overhaul of registered offerings and filer categories to ease capital raising and expand scaled reporting relief for smaller issuers.
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Industry
GAO: DOE Nuclear Cleanup Office Lost One-Third of Staff Since FY2023, Now Faces 45% Vacancy Rate
GAO finds Energy Department’s cleanup office lost a third of federal staff since FY2023, leaving about 45% vacancies in mission-critical cleanup roles.
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Financial Markets
SEC Rescinds Decades-Old 'No-Deny' Settlement Policy and Will Not Enforce Past Provisions
The SEC removed Rule 202.5(e), ending decades of 'no-deny' settlement provisions and saying it will not enforce existing no‑deny clauses.
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Financial Markets
UK’s FCA and Bank of England set roadmap for tokenisation and longer settlement hours
FCA and Bank of England launch joint consultation on tokenised securities, outline RTGS sync service for 2028 and staged steps toward near-24/7 settlement.
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Financial Markets
How a KelpDAO rsETH Exploit Knocked Aave From the Top of DeFi TVL Rankings
An April rsETH exploit routed stolen tokens into Aave, triggering risk controls and a 44% drop in Aave's TVL as Lido reclaimed the top spot.
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Industry
Federal Reserve Terminates 2023 Cease-and-Desist Order on UBS and Credit Suisse
The Federal Reserve terminated its July 2023 cease-and-desist order related to the Archegos losses, closing a public enforcement case involving UBS and Credit Suisse.
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Financial Markets
Creditors Ask New York Court to Force Tether to Turn Over $344M in Frozen USDT
Creditors with terrorism judgments ask a New York court to compel Tether to cancel and reissue $344.1m in frozen USDT tied to Iran sanctions.
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Economy
Senate Confirms Kevin Warsh as Federal Reserve Chair; Treasury Yields Jump
Senate confirmed Kevin Warsh as Fed chair 54-45, sending Treasury yields higher and cutting odds of a June rate cut amid hotter inflation data.
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Industry
SEC Moves to Rescind 2024 Climate-Disclosure Rule, Sends Proposal for White House Review
The SEC submitted a proposed rescission of its 2024 climate-disclosure rule to OIRA on May 4, signaling a formal move to undo the rule and reopen review.
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Industry
Samsung and Union Fail to Reach Deal After Mediation; 18-Day Strike Planned May 21
Post-mediation talks broke down May 13, raising the risk of an 18‑day strike at Samsung, a key player in global memory-chip supply chains.
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Economy
Court Rules Trump’s 10% Tariff Exceeded Statutory Authority, Limits Relief to Plaintiffs
May 7 court ruling finds President Trump exceeded Section 122 authority for a 10% tariff, but injunction and refunds apply only to the plaintiffs who sued.
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Economy
U.S. Inflation Eases Monthly but Annual Rate Rises to 3.8% as Shelter and Gasoline Push Prices Up
Consumer prices rose 0.6% in April; annual inflation accelerated to 3.8% as gasoline and shelter drove gains, while core CPI rose 2.8%.
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Financial Markets
Hub Group Expands Scope of Accounting Problems, Says 2023 and 2024 Audited Statements 'Should No Longer Be Relied On'
Hub Group's audit committee says audited financial statements for 2023 and 2024 were materially misstated and should not be relied on.
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Industry
Toyota posts higher sales and revenue in FY2026, but operating profit falls after U.S. tariffs cut ¥1.4 trillion
Toyota sold 9.595 million vehicles in FY2026 and revenue rose to ¥50.685 trillion, but operating profit fell after U.S. tariffs cut about ¥1.4 trillion.
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Industry
Teamsters launch ULP strike at Breakthru Beverage’s St. Louis distribution center, halting some deliveries
Teamsters say 100+ Breakthru Beverage drivers and warehouse workers in St. Louis have launched an unfair-labor-practice strike over contract disputes, halting some deliveries.
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Industry
Coinbase to cut about 700 jobs, citing market weakness and an ‘AI era’ restructure
Coinbase will cut about 700 jobs—roughly 14%—and take $50–60M in restructuring charges amid weak crypto markets and a shift toward AI.
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Economy
Macklem says Bank of Canada could raise or cut rates if U.S. trade curbs or oil-driven inflation shift outlook
Bank of Canada Gov. Tiff Macklem warned rates could rise or fall: cuts if U.S. trade curbs dent growth, hikes if sustained oil-driven inflation spreads. Rate held at 2.25%.
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Industry
UK regulator confirms FCA probes into Mastercard, Visa and PayPal over digital wallet funding
The UK FCA confirmed antitrust investigations of Mastercard, Visa and PayPal over how PayPal’s digital wallet is funded and used; no findings yet.