AGP Executive Report
Last update: 5 hours agoYuan Clearing Expansion: China’s central bank authorized Standard Bank and ICBC to clear renminbi across Africa as “Renminbi Clearing Bank of Africa,” giving firms direct access to China’s onshore system and boosting yuan use in trade. Rates Watch: A Reuters poll says the Fed is likely to hold its benchmark rate for the rest of 2026, despite inflation above target, as economists weigh energy-driven uncertainty. Market Mood: Tech-led selloffs hit Europe and Asia, with Apple’s price hikes and semiconductor worries dragging sentiment; South Korea’s Kospi triggered a trading halt. Crypto Compliance Shock: Binance says it will stop serving EU customers after a MiCA licence application was rejected in Greece, with users told to withdraw funds ahead of the July 1 deadline. Energy Storage Push: Ofgem picked 16 long-duration electricity storage projects for possible support, aiming to cut network strain and improve energy security. Banking Tech & Cyber: IBM and Red Hat expanded Project Lightwell with Palo Alto Networks to speed open-source patching and add network-layer “virtual patch” protection. Payments Partnership: U.S. Bank teamed with GigSafe to enable push-to-card instant payouts for delivery workers via embedded payments. Corporate/Banking Deals: XPS Group bought Austin Professional Resourcing for £3.3m cash plus £10m earn-outs; Wise reported higher revenue and customer activity; Heathrow cut its FY passenger forecast amid Iran-war uncertainty.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.