Author: Emily Harper

A Strategic Push Into Direct Lending Citigroup has appointed Aashish Dhakad to head North America private credit origination, a role that formalizes the bank’s growing effort to connect its corporate clients with non-bank lenders. The internal memo, seen by Reuters, says Dhakad will join in October 2025 and be based in New York, underscoring Citi’s bid to convert its client coverage into fee income as private credit continues to win market share from syndicated loans. Private credit—loans from investment firms and other non-bank lenders—has evolved from a perceived rival to a frequent partner for big banks. Instead of carrying every…

Canadian Ministers Head to Mexico for Strategic Talks Two of Canada’s top cabinet officials are in Mexico for high-level meetings aimed at reinforcing trade cooperation and addressing regional challenges. Finance Minister François-Philippe Champagne and Foreign Affairs Minister Anita Anand are leading the Canadian delegation in a series of discussions with Mexican authorities, including a scheduled meeting with President Claudia Sheinbaum. The visit comes at a critical moment. Both Canada and Mexico are recalibrating their trade strategies following failed negotiations with the United States. While the U.S. imposed a sharp tariff increase on Canadian goods, Mexico secured a 90-day extension to…

Italy Faces EU Legal Blow Over Migrant Transfers Italy’s controversial decision to process asylum seekers in Albania has come under fire after the European Union’s top court ruled against its current practices. The European Court of Justice (ECJ) concluded that Italy’s method of designating certain countries as “safe” for deportation—such as Bangladesh—does not fully protect the rights of vulnerable individuals seeking asylum. This verdict marks a significant legal challenge to Italy’s migration deal with Albania, where two offshore processing centres were set up to handle asylum applications outside Italian borders. These centres, although under Italian jurisdiction, limit access to asylum…

Jobs Growth Cools And Prior Months Revised Lower U.S. employers added 73,000 jobs in July, a sharp slowdown that undercut expectations and signaled a cooler labor market. Just as notable, the Labor Department’s revisions wiped out a combined 258,000 jobs previously reported for May and June, recasting the summer hiring picture as much weaker than believed. The unemployment rate rose to 4.2% from 4.1% in June. Economists had looked for roughly 100,000–110,000 new jobs, but the underwhelming print—paired with the big downward revisions—points to a softer trend.Sector Gains Narrow While Losses Broaden Hiring was highly concentrated. Health care accounted for…

Shifting Tides in Central Asia Long known for its near-total isolation, Turkmenistan is taking steps that signal a potential shift in its approach to tourism. Once grouped with North Korea and Eritrea for its closed-door policies, the Central Asian nation has announced plans for streamlined visa regulations, sparking cautious optimism among tour operators and seasoned travelers. While the implementation timeline remains unclear, the country’s pledge to remove the longstanding Letter of Introduction requirement could dramatically improve accessibility. Travel companies such as UK-based Lupine Travel report that details on the reform remain scarce. However, should the proposed online application system materialize,…

Making History in Finland Caleb and Justine Roesler have become the first Americans to win the Wife-Carrying World Championship, a quirky yet physically demanding competition held annually in Sonkajärvi, Finland. On July 5, Caleb carried Justine upside down across a 250-meter course that included water obstacles and hurdles, finishing in a record-breaking 1:01.17. Their victory secured not only global recognition but also Justine’s weight in beer — a unique prize tradition of the event. The couple’s achievement was especially significant given the championship’s history. Since its inception in 1992, only teams from Finland, Estonia, Russia, and Lithuania had claimed the…

Italy Backs Vatican Solar Farm to Power City-State Italy has approved a plan with the Holy See to transform 430 hectares at Santa Maria di Galeria, north of Rome, into a solar farm capable of covering all of Vatican City’s electricity needs—a step that would make it the world’s first carbon-neutral state. The agreement was signed by Archbishop Paul Richard Gallagher, the Vatican’s foreign minister, and Francesco Di Nitto, Italy’s ambassador to the Holy See. Because the site enjoys extraterritorial status, the deal still requires Italian parliamentary approval before construction contracts can be tendered. From Radio Towers to Renewable Power…

Surging AI Momentum and Cloud Growth Drive Historic Milestone Microsoft reached a historic $4 trillion market valuation on Thursday, becoming the second company ever to do so after a strong earnings report and renewed investor confidence in its AI and cloud businesses. Shares of the tech giant rose nearly 4.5% in early trading, pushing its intraday value to $4.01 trillion. The stock has gained approximately 28% since the beginning of the year. The company’s rapid growth reflects a steady climb since it hit the $3 trillion mark in early 2023. It first reached a $1 trillion valuation in April 2019.…

A New Chapter in the Space Station’s Legacy The upcoming Crew-11 mission, a joint effort between NASA and SpaceX, represents the next phase in nearly a quarter-century of continuous human presence aboard the International Space Station (ISS). The crew is currently finalizing preparations at facilities in Florida, ready to contribute to the station’s long-standing role as a hub for space-based research and technological innovation. Upon reaching orbit, the astronauts will dive into a robust schedule of scientific experiments designed to improve life on Earth and support future exploration of the Moon and Mars. Their mission will contribute directly to global…

Profit Beats Forecast As Fees Cushion Market Volatility KKR posted a stronger-than-expected second quarter, with adjusted net income rising 9% to about $1.1 billion, or $1.18 per adjusted share—topping the $1.13 LSEG SmartEstimate. The performance underscored the resilience of the firm’s diversified model amid market unease tied to tariff headlines and choppy risk sentiment. Fee-related earnings (FRE)—a steadier stream built on management fees and capital-markets activity—climbed 17% to $887 million, helping offset slower realizations from sales or IPOs when markets are volatile. Shares ticked modestly higher in early trading as investors digested the beat. Fee Engines And Capital Markets Drive…