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European stock markets experienced slight declines at midday, with the EuroStoxx 50 down 0.22% and the Swiss SMI falling 0.49%, pressured by UBS's 6.6% drop amid concerns over new capital requirements. In contrast, London's FTSE 100 rose 0.39%, and construction stocks like Holcim gained after a rating upgrade from Barclays. Oil stocks led the gains, buoyed by rising oil prices, with Shell increasing by 2%.
Cboe Global Markets has appointed Ben Gough as Global Head of FX Liquidity Management, bringing extensive experience from his previous roles at Fenics FX and UBS, where he advanced through various positions over 14 years. Gough's responsibilities will include managing FX liquidity and optimizing pricing strategies. Meanwhile, Cboe's FX division continues to report high trading volumes, regularly exceeding $1 trillion monthly, despite a recent decline in May due to reduced market volatility.
Chinese e-commerce platforms Temu and Shein are shifting focus to Europe and the UK due to declining consumer spending and regulatory challenges in the US. While Temu's US spending fell 36% and Shein's 13% year-over-year, both companies saw significant growth in Europe, with Temu's EU spending up 63% and Shein's by 19%. However, they face a complex regulatory landscape in Europe aimed at addressing sustainability and consumer protection, which may necessitate fundamental changes to their business models.
Academic publishers are increasingly turning to AI licensing deals as a vital revenue source amid looming US research funding cuts. Informa’s Taylor & Francis reported $75 million in 2024 from such agreements, while concerns over author compensation and intellectual property rights persist. Publishers are adopting a dual strategy, leveraging AI for internal operations while monetizing content externally to navigate the evolving landscape of academic publishing.
Abu Dhabi's luxury real estate market is thriving in 2025, with property sales exceeding Dh6.3 billion in the first four months, driven by a surge in branded residences and a 158% increase in super-luxury resales. Key hotspots like Saadiyat Island and Yas Island are attracting a diverse range of buyers, including end-users and international investors, as the city unveils 25 new branded projects, enhancing its appeal as a premier destination for upscale living.
Huawei is working on innovative solutions to overcome its lag in chip technology, striving to bridge the generational gap. Meanwhile, Liquidity has launched its London headquarters, committing £1.5 billion to UK innovation through AI-driven credit processing and predictive analytics.
Huawei CEO Ren Zhengfei has minimized the effects of US sanctions, outlining the company's strategy to innovate despite trade restrictions and aiming to secure China's long-term leadership in artificial intelligence. His comments coincide with high-level US-China talks in London, reflecting Beijing's intent to assert its strength during negotiations.
UAE stock markets closed higher on Monday, buoyed by optimism surrounding US-China trade talks in London. Dubai’s benchmark index reached its highest level since 2008, rising 1%, with notable gains from Salik Company and Deyaar Development. Abu Dhabi's index also increased by 0.1%, supported by advances in Aldar Properties and Abu Dhabi National Energy Company, while most Gulf markets remained closed for a public holiday.
Israeli startup Unibeam has secured $6 million in seed funding led by NFX, focusing on cryptographic authentication technology that utilizes SIM cards and eSIMs for identity verification. By generating unique cryptographic keys based on SIM ID, device ID, and phone number, Unibeam aims to replace traditional security methods like passwords and one-time codes, offering its solution as a SaaS product via API. This innovative approach transforms SIM cards from a security vulnerability into a trusted asset, addressing the industry's shift towards deterministic authentication methods amid rising threats like SIM swapping and phishing attacks.
SG fintech firm Sleek has secured $23 million in a Series B funding round led by Ellerston Capital, with participation from Money Forward. Founded in 2017, Sleek offers digital corporate services including company incorporation and accounting, serving over 16,000 SMEs across Singapore, Hong Kong, the UK, and Australia. The new funding will enhance its automation technology and expand services, focusing on growth in Australia and the UK while supporting its core markets.
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European Markets Experience Slight Losses as UBS Faces Pressure
12:11 10.06.2025
Cboe Appoints Ben Gough as Global Head of FX Liquidity Management
10:02 10.06.2025
Temu and Shein pivot to Europe amid US trade challenges and regulations
09:50 10.06.2025
academic publishers embrace ai licensing to counter funding cuts
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09:20 10.06.2025
Abu Dhabi emerges as top luxury real estate destination in 2025
09:11 10.06.2025
Huawei Innovates in Chip Tech as Liquidity Invests in AI for UK
08:27 10.06.2025
Huawei CEO Unveils Strategy to Navigate US Sanctions and Lead in AI
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UAE stock markets rise as investors await US China trade talks outcome
06:24 10.06.2025
Israeli startup Unibeam secures 6 million dollars for innovative identity verification solution
03:10 10.06.2025
Sleek secures 23 million dollars in series B funding for expansion
03:00 10.06.2025
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