Russia Closes Border Crossings With Several NATO States After Finland Lifts Nuclear Ban

Brazil's Socialist Lula Cries 'Foreign Interference' At UN As Bolsonaro Ties Him In Runoff Polls "Flávio Bolsonaro has moved marginally ahead of Lula in a potential run-off, with the race effectively tied," Daniel Lavarda, HSBC's head of Brazil macroeconomic research, wrote in a note to clients on Tuesday.  Lavarda said, "Worsening approval ratings weigh on Lula's prospects, reducing probability of re-election to 18% (per to our model)," adding, "With the race tied up, the outcome will hinge on late-campaign developments, turnout and ability to mobilize voters."  Lavarda's latest note on the Brazilian election...

IRS Takes Aim At AQR's Tax-Slashing "Holy Grail", Warns Crackdown May Be Retroactive For three years Wall Street's hottest product wasn't a stock, a sector or even an AI trade - it was losing money. Specifically, losing it in a very precise, very engineered way so that the "losses" could be handed to the IRS while the portfolio itself kept compounding. But now the taxman has finally noticed. On Monday, Treasury and the IRS released Notice 2026-62 and Revenue Ruling 2026-20, a double-barreled warning shot at the "tax alpha" industry. Among...

European Commission Proposes Energy & Water Efficiency Disclosure Rules For Data-Centers Authored by Zachary Skidmore via Data Centre Dynamics, The European Commission (EC) has submitted a proposal to require data centers across Europe to disclose their energy and water efficiency metrics. The European Union (EU) aims to triple its data center capacity over the next five to seven years. This has raised concerns about the build-out's potential impact on the power grid and natural resource use. The proposed rules would create a common rating scheme covering data centers with a capacity exceeding 500kW....