The US is deregulating banks. Will the rest of the world follow?

The U.S. Securities and Exchange Commission (SEC) is investigating Jefferies regarding the information disclosed to investors about their exposure to First Brands, a car parts group that has recently collapsed. This inquiry raises concerns about the transparency and accuracy of financial communications from Jefferies to its clients.

Brazil is seeking cooperation from the United States as a money laundering investigation has raised concerns regarding firms based in Delaware. This inquiry highlights potential financial misconduct linked to these entities, prompting Brazilian authorities to request assistance from their U.S. counterparts.

Chancellor Rachel Reeves has faced criticism from business leaders for failing to stimulate economic growth in her recent budget announcement, which was expected to address the UK's cost of living crisis. The budget, which included significant tax increases, has been described as a missed opportunity to fulfill Labour's pledge to boost output.

Keir Starmer has denied allegations of breaking manifesto pledges following recent tax increases that have garnered support from Labour MPs. This response comes amid a backdrop of political tension as the Labour government prepares for a crucial budget announcement aimed at addressing the UK's cost of living crisis.

Japan and the United States are reportedly considering the establishment of a public-private partnership to develop a memory chip manufacturing plant. This initiative aims to bolster semiconductor production capabilities amid increasing global demand and supply chain challenges.

Gold prices have stabilized after a nearly 1% increase in the previous session, driven by rising expectations of an interest rate cut by the Federal Reserve. This sentiment reflects a growing belief among traders that the Fed may reduce rates in December, influencing the demand for gold as a safe-haven asset.

Osaka Gas is planning to increase its investments in US gas-fired power plants, driven by the rising demand for reliable energy due to the growth of artificial intelligence and data centers. This strategic move reflects the company's response to evolving market needs and technological advancements.

Chancellor Rachel Reeves has announced a budget that raises the UK's tax take to an all-time high of 38% of GDP by the end of the parliament, reflecting a £26 billion tax increase aimed at stabilizing the economy amidst ongoing financial challenges.