LondonMetric CFO Martin McGann to retire next year

Key insight: Several senior banking Republicans are welcoming campaign help from the crypto industry in an election year when even traditionally strong red districts are at risk of flipping to Democrats.  Forward look: Most election prognosticators expect Democrats to win in the House, but while odds of flipping the Senate have improved, they remain too…

The K-shaped economy is “over,” according to Treasury Secretary Scott Bessent. “I got sick of hearing about this K-shaped economy,” Bessent said in an appearance on CNBC’s “Squawk Box.” “I can say here definitively, the K-shaped economy is over.” The term describes an economy in which segments of the market move in sharply different directions,…

New York Mayor Zohran Mamdani wants to get the city into the subsidized grocery business.  As his administration seeks a seasoned partner this fall to run its planned quintet of government-supported grocery stores, strong opposition means it won’t sail through the express checkout lane. Plus, a pair of new lawsuits could stop the scheme faster…

(Bloomberg) — Charles Schwab Corp. is imposing even stricter limits for customers interested in tax-aware long-short accounts, at least the third time the retail brokerage has done so, according to a note distributed to clients. Schwab clients will now have to have a minimum of $10 million of assets to fund some long-short separately managed…

Philippe Laffont has made a name for himself as someone capable of spotting secular technology trends early and making big bets on some of the biggest potential beneficiaries. That makes his hedge fund, Coatue Management, a useful source of potentially great investment ideas in tech stocks. Laffont has held the same artificial intelligence (AI) stock…