Perps are distracting Wall Street, not disrupting it
Craze for perpetual futures is worrying investors in securities exchanges
Economic news
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Hormuz closure threatens renewed oil supply crunch
Also in today’s newsletter: New York’s data centre crackdown and the new era of critical mineral diplomacy
PwC and partner fined more than £3mn over Babcock audit failings
Regulator says Big Four firm committed ‘serious breaches’ in work on defence and aerospace group
Renewed Hormuz tensions raise chances of a pricey winter
Asia and Europe would end up competing for LNG cargoes during their cold season if market is short, pushing up prices