Finance

• Finance leaders from China, Japan, South Korea, and ASEAN nations convened in Samarkand to address regional economic stability. • They committed to closely monitor and act against excessive volatility in financial markets amid global uncertainties. • The pledge underscores coordinated efforts to mitigate risks from geopolitical tensions and market fluctuations impacting Asia.

Kendrick Guidry, alone among judges, initially ruled that the state supreme court’s decision to uphold a ‘lookback window’ for abuse claims did not set a binding precedentOnly one judge in Louisiana has ruled in favor of the Catholic church’s ongoing attempts to strike down a law there which allowed old abuse claims their day in court – even after a state supreme court decision upheld the constitutionality of that so-called “lookback window”.But now, that judge – Kendrick J Guidry of Lake Charles – is being forced to acknowledge that his ruling benefited a specific church on whose finance committee he sits, giving him a direct financial interest that required his recusal under the state’s judicial code. Continue reading...

Release of new Claude model, so far limited to US firms, will expand to British institutions in coming daysBritish banks will be given access in the next week to a powerful AI tool that was deemed too dangerous to be released to the public, as a series of senior finance figures warned over its impact.Anthropic, which has so far limited the release of the new model to a small clutch of primarily US businesses, including Amazon, Apple and Microsoft, said it would expand that to UK financial institutions in the coming days. Continue reading...

• OpenAI acquired Hiro Finance, its second startup purchase in a month, focusing on AI tools for financial planning as first reported by TechCrunch. • The deal expands OpenAI's capabilities into fiscal management amid racing agent development with Anthropic and Nvidia for web-browsing, emailing, and booking tasks. • This move signals intensifying M&A in AI finance, cutting development time for enterprises adopting similar tech like Accenture-Replit code generation.

Developing countries face possible shelving of crucial green action plan at IMF and World Bank spring meetingsGovernments desperate for cash to protect their citizens from the growing impacts of the climate crisis are being put in a “beyond absurd” situation this week at global finance talks: they are being urged not to mention the climate, even as they address the current oil crisis.The International Monetary Fund (IMF) and the World Bank Group (WBG) spring meetings take place this week amid a fragile ceasefire in Iran and upended geopolitics. One of the priorities was to forge a new “climate change action plan” (CCAP) for the world’s biggest provider of funds to developing countries, to replace the current strategy, which expires in June. Continue reading...

Specialist lender says it expects its slice of £9.1bn compensation set by FCA to be about £320mClose Brothers shares surged on Wednesday after the UK bank declared it could “comfortably absorb” its slice of a £9.1bn compensation bill over the motor finance scandal, hours after one of its rivals announced it was selling its UK operations over looming costs.The specialist lender said it expected the final terms of the Financial Conduct Authority’s (FCA) compensation scheme to cost roughly £320m, a sum that is “broadly similar” to previous estimates and the £294m put aside to date. Continue reading...

• TD's second annual U.S. AI Insights Report shows 78% of Americans use AI tools daily, up significantly, released March 31, 2026 from Mount Laurel, NJ. • 67% report improved proficiency year-over-year; Gen Z at 90% usage across generations. • Only 18% trust AI alone for financial recommendations; 62% trust it for info but prefer humans, family (90%), banks (85%).

Redress programme for 14m motor finance agreements will be set out by regulator on Monday afternoonBusiness live – latest updatesMillions of drivers will discover how much can they claim over the car finance scandal on Monday, as the City regulator sets out the final terms of its compensation scheme.The Financial Conduct Authority (FCA) will release the details of its redress programme for 14m motor finance agreements after 4:30pm, ensuring that the information comes out after stock markets close for trading. Continue reading...

• Elemental Royalty (ELE) reported a 128% revenue increase for 2025, significantly exceeding previous guidance and providing strong signals for royalty sector growth into 2026. • piHarrow (HROW) launched a $50 million senior unsecured notes offering to fund expansion, demonstrating continued corporate access to debt markets despite broader market uncertainty. • RenX (RENX) announced a reverse stock split as a remedial measure to regain Nasdaq compliance, with implications for share float and liquidity dynamics.

Exclusive: Error in second half of 2025 came after IRS saw over a quarter of its workforce reduced after huge cuts by DogeA technical glitch at the understaffed Internal Revenue Service (IRS) is masking millions of dollars in campaign contributions to state-level election groups, including key governor and attorney general races, a campaign finance watchdog has told the Guardian.A total of $51m for the second half of 2025 remains unaccounted for due to this technical error, according to the Center for Political Accountability (CPA), a non-profit that tracks corporate spending. Continue reading...

Specialist lender’s shares plunge after short seller claims it will have to raise provision for compensation Business live – latest updatesThe banking group Close Brothers is to cut about 600 jobs and roll out the use of AI “at pace” after posting further losses in the face of a mounting compensation bill for the motor finance scandal.The specialist lender said the cuts – nearly a quarter of its 2,600-strong workforce – would be made over the next 18 months across its teams in the UK and Ireland. Continue reading...

• The U.S. Department of the Treasury issued its March 2026 congressional report under the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025, addressing innovative technologies to counter illicit finance in digital assets. • The report covers mixers, obfuscation services, and stablecoin transactions on distributed ledgers, aligning with Trump Administration priorities for privacy protection and reduced regulatory burden. • It outlines the Bank Secrecy Act framework, AML programs, and updates from the 2020 Anti-Money Laundering Act to strengthen regulations against money laundering and terrorism financing.

• U.S. Treasury issued its March 2026 congressional report under the 2025 GENIUS Act on innovative technologies countering illicit finance in digital assets and stablecoins. • Report addresses mixers, tumblers, and obfuscation services on distributed ledgers, proposing frameworks aligned with administration priorities on privacy and regulatory burden. • Builds on 2021 AML Act and BSA authorities for AML/CFT programs, information sharing among financial institutions, and modernizing rules against money laundering and terrorism financing.