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Trillions in Retirement Dollars Are Flowing Into Opaque Trusts

At the heart of the US retirement industry, underpinning the later-life plans of millions of Americans, is a set of financial products that hardly anyone can tell you a thing about.

By Justina Lee, Weihua Li and Denitsa Tsekova

OPEC+ Agrees Symbolic Quota Hike as UAE Touts Oil Investment

Major OPEC+ nations agreed on a modest and symbolic increase in their June production quota levels, as the group sends a business-as-usual message following the surprise exit of the United Arab Emirates. Abu Dhabi at the same moment touted its own growth plans.

Banks in US Are Working to Gird Against AI Attacks, Bessent Says

Treasury Secretary Scott Bessent said US financial and technology companies are “working on their resiliency” against artificial intelligence threats, including concerns that AI could be deployed to hack into bank accounts.

Private Credit Could Spark Psychological Contagion, Barr Warns

Federal Reserve Governor Michael Barr said stress in private credit could spark “psychological contagion” leading to a broader credit crunch, once again warning against loosening the reins on Wall Street at a time of rising risks.

Berkshire Investors Praise Greg Abel at Post-Buffett Meeting

Greg Abel didn’t take long to address the elephant in the room.

Corporate America Earnings Beat Back Wall Street’s Wall of Worry

First-quarter earnings season is delivering Wall Street better-than-expected results, propelling US equities’ run from one record to the next.

‘Golden’ or ‘Garbage’: Milken Signals New Private Credit Era

Months before Jamie Dimon’s infamous remark about more than one “cockroach” lurking in credit markets, TCW Group Inc. Chief Executive Officer Katie Koch warned the direct lending industry was due for a reckoning.

Coinbase Says Deal Reached on Key Part of Crypto Market Bill

Coinbase Global Inc. said a deal has been reached on a key stablecoin yield provision, potentially clearing a path for sweeping crypto legislation to move forward in the US Senate.

SEC Semiannual Reporting Proposal Clears White House Review

A Securities and Exchange Commission plan to let public companies cut quarterly disclosures to twice a year moved closer to reality after passing a White House review.

Fed’s Bowman Says Mythos Shows ‘Dynamic Nature’ of AI Tools

The Federal Reserve’s top bank cop said regulators must consider how best to supervise new technology like Anthropic PBC’s Mythos, as officials grapple with the potential risks of artificial intelligence models.