Manager

• Global central banks are redefining reserve management strategies to prepare for a shifting financial system and a potential move away from U.S. dollar dominance. • The World Bank and central banks are increasingly integrating AI to accelerate document analysis and extract insights from unstructured data to improve policy decision-making. • AI-powered supervisory technologies are becoming critical for monitoring faster payment systems and digital financial services, especially within emerging economies.

• European Union Allowance (EUA) prices have dropped significantly, falling from approximately €90/tCO2e in January to below €65/tCO2e by March. • This price decline is primarily driven by market uncertainty surrounding the upcoming reform of the EU Emissions Trading System (EU ETS). • The volatility matters for fund managers as it impacts the cost of carbon permits that companies must hold to cover their CO₂ emissions.

Grace Riglar fights back tears giving evidenceCusack called Sheffield United omission a ‘personal attack’The girlfriend of the late Sheffield United player Maddy Cusack has told an inquest that Cusack’s former manager Jonathan Morgan called her a “psycho” and that her eating habits changed after he allegedly made a comment referencing her weight.Grace Riglar, who played for Sheffield United for one season alongside Cusack, fought back tears multiple times during an emotional and lengthy evidence session at Chesterfield coroner’s court on Tuesday. At one stage she had to take a break while being cross-examined by lawyers representing Sheffield United. Continue reading...

Jonathan Morgan claims he provided player welfareDoctor says Maddy feared mental health stigmaThe most significant cause of the deterioration of the late Sheffield United footballer Maddy Cusack’s mental health was the behaviour of Jonathan Morgan, the team’s manager at the time, her father, David Cusack, has told an inquest.During a tense exchange with David Cusack, Morgan, who is representing himself at the inquest, accused the player’s father of relying on hearsay to form his opinion of him. Continue reading...

• Influential Chinese hedge fund managers are warning that the global AI trade has become dangerously overheated and detached from economic fundamentals. • The alarm follows a massive surge in semiconductor and AI model-development stocks across major tech hubs, including Silicon Valley and Seoul. • This shift in sentiment suggests a growing belief among Beijing's top money managers that an AI market bubble is nearing a breaking point.

• Fund manager Tom Hulick suggested rotating investments away from AI tech stocks toward other sectors as market leadership broadens and tech sells off. • Hulick specifically highlighted the pharmaceutical industry, noting that AI advancements are driving significant innovation within the sector. • He identified Eli Lilly (LLY) as a key stock to watch, emphasizing that technological progress in pharma is currently undervalued by many investors.

• A group of Nihangs stormed a gurdwara in Uttarakhand's Rudraprayag district, vandalizing the premises and taking the manager hostage on the roof. • The attackers demanded the immediate release of four Nihang devotees who were previously arrested following a clash in Karnaprayag. • This escalation highlights rising tensions and volatility surrounding the legal actions taken against the devotees in the region.