New Taiwan dollar marks biggest single-day gain since rapid appreciation in early May

And the big, beautiful bill

An inconvenient truth

Douglas Flint criticises ‘ridiculously extravagant claims’

Proposals are largely an attempt to undo the damage caused by its last ‘once in a generation’ reform

Adnoc and Aramco shift focus to dividends in tougher environment for deals

After abandoning its IPO plans, fintech Klarna transforms its business model

Also in this newsletter, Amazon rolls out diagnostics services in India, and JSW buys AkzoNobel’s India business

Mainland equities are flat in first six months of 2025, while Hang Seng index has gained 20%

Its use in growing sectors such as green tech, electronics and defence mean it may not always be overshadowed

Chancellor is expected to outline plans to limit the amount of money that can be saved into tax-free cash accounts each year

River Humber facility owned by privately held Prax Group started proceedings over weekend

Donald Trump’s trade policies and rising debt levels have sparked decline of more than 10% in first half of 2025

Regulator allows locals to purchase foreign currency debts issued onshore as it seeks to offset capital outflows

Plus central bank digital currencies

Plus, UK wealth managers eye private markets, investors flee long-term bonds, and Kiefer/Van Gogh at the Royal Academy

Additional customs inspections cause long delays that threaten to disrupt global supply chains

Forcing defined contribution schemes to invest a minimum amount in private assets could ‘lead to poorer returns’

Millennium, Point72 and Third Point among those seeking to push into popular asset class

America must rebuild the infrastructure that underpins markets and thus supply chains