Japan became the largest holder of US government bonds in June. Japan increased holdings of Treasurys to $1.12 trillion, surpassing China's $1.11 trillion.
The Commodity Futures Trading Commission has fined Kraft Heinz and Mondelez International $16 million for wheat manipulation, saying the firms bought $90 million of December 2011 wheat futures but never intended to take possession of the grain. The action caused a price fluctuation that earned the firms more than $5 million in profits, the CFTC said.
Barclays is no longer providing banking services to cryptocurrency exchange Coinbase, sources say. They had formed a partnership in March 2018 which allowed Coinbase users the ability to purchase cryptoassets and withdraw their funds in UK pounds.
The London Metal Exchange could remain one of the last open-outcry hold-outs after a three-month experiment with electronic trading of nickel did not yield compelling results. But an experiment extending the closing zinc session from five to 10 minutes resulted in a 57% increase in average daily volumes, an apparent win for open outcry trading, writes Andy Home.
Mexico's central bank cut interest rates for the first time since June 2014 - dropping the rate to 8% - citing slowing inflation and increasing slack in the economy. The cut was a surprise and came after several other countries cut their interest rates.
Accordijg to a report from Transunion, the number of Generation Z consumers - those born in 1995 and beyond - with a mortgage rose 112% from the second quarter of 2018 to the second quarter of this year, going from 150,000 to 319,000. The report also said the number of credit-eligible Generation Z consumers is expected to grow by 13 million 9ver the next three years.
Transsion, a Chinese mobile phone manufacturer, and the venture arm of the Kenyan digital payments company Wapi Pay have joined forces to invest in early-stage African fintech startups. The capital for the joint effort is coming from an incubator and seed fund, Transsion's Future Hub.
Nurx, a startup that ships birth control medications and devices directly to users, raised $32 million in a financing round that gave it a $300 million valuation. It also obtained $20 million of debt financing.
Cloudfare, a startup that helps websites run as fast and reliably as possible while minimizing downtime, has filed for its initial public offering. The paperwork gives the IPO a placeholder valuation of $100 million, but the figure could be much higher when it comes to the market.