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Friday, August 15, 2025

MIAX goes public on NYSE with Miami trading floor expansion plans scheduled for Sept

 Miami International Holdings, also known as financial markets exchange MIAX, raised over $345 million in its IPO Wall Street debut

Shares, which priced at $23, rose over 33% on the first day of trading and are listed on the New York Stock Exchange under the ticker MIAX.

CEO Thomas Gallagher led his team in ringing the opening bell on the NYSE floor Thursday. 

"We are a technology-driven leader in building and operating regulated financial marketplaces across multiple asset classes and geographies. Our MIAX Exchange marketplaces are enabled by our in-house-built, proprietary technology," according to a filing with the Securities and Exchange Commission.

"We believe the speed and performance of our proprietary technology coupled with our fully integrated, award-winning customer service, sets us apart from our competitors."  

Those asset classes include U.S. options, equities, futures and listings, according to the company. Proceeds from the IPO will go toward general corporate purposes. 

Total options volume across all classes rose 42.9% year-over-year to a record 1.1 billion contracts. Total market share sits at 16.2%.

While the exchange doesn’t list exchange-traded funds, it trades options on ETFs, including iShares Bitcoin Trust ETF, iShares Ethereum Trust, Grayscale Ethereum Mini Trust and Bitwise Ethereum ETF, to name a few. 

The exchange will open a state-of-the-art trading floor in Miami in September, a MIAX spokesperson told FOX Business. 

https://www.foxbusiness.com/markets/exchange-miax-soars-wall-street-debut-plans-miami-expansion

UK srvival rates for most deadly cancers seen making little progress

 The number of people surviving cancer has improved hugely in the past 50 years, but experts warn progress has been uneven with some cancers with the worst survival rates falling further behind.

For some, including melanoma skin cancer, 10-year survival is now above 90% in England and Wales, while for all cancers half of patients can expect to live that long - double the figure in the early 1970s.

But a London School of Hygiene and Tropical Medicine study said there had been little improvement in those affecting the oesophagus, stomach and lungs - and less than 5% survive pancreatic cancer for 10 years.

The government said it was committed to making more progress with a new strategy due soon.

"NHS staff do an amazing job, but it's such a difficult time to be a cancer patient, especially for those with cancers which aren't easy to spot or treat.

"It's so important that there is more research and support for cancer services here, so that more people can be as fortunate as me," says Matt.

The researchers also warned that, while overall survival was still improving, the rate of progress had slowed during the 2010s. Longer waits for diagnosis and treatment are thought to be partly to blame.

Michelle Mitchell, chief executive of Cancer Research UK, which funded the study, said: "Thanks to research, most patients today are far more likely to survive cancer than at any other point in the past.

"But the reality is that this progress is slowing – and for some cancers it never got going in the first place."

The charity wants the government's forthcoming strategy to focus on:

  • cutting waiting times
  • early detection, including full introduction of a lung cancer screening programme
  • investment in research, particularly targeting the most deadly cancers

A Department of Health and Social Care spokesman said cancer care was a priority. with some progress already made on waiting times.

"The national cancer plan will set out how we will improve survival rates further and address the unacceptable variation between different cancer types," he added.

https://www.bbc.com/news/articles/c5ypkrzyxd1o

LAVA Therapeutics Agrees to XOMA Buyout Deal as Cancer Drug Development Halts



LAVA Therapeutics (NASDAQ: LVTX) has announced significant developments in Q2 2025, headlined by a definitive agreement to be acquired by XOMA Royalty Corporation. The acquisition terms include $1.16-$1.24 per share in cash, plus contingent value rights tied to LAVA's partnered and unpartnered programs, with closing expected in Q4 2025.

The company reported Q2 2025 financial results with cash position of $56.2 million as of June 30, 2025, down from $76.6 million at year-end 2024. Net loss increased to $8.6 million ($0.32 per share) compared to $8.3 million ($0.31 per share) in Q2 2024. Additionally, LAVA announced the discontinuation of its LAVA-1266 program for acute myeloid leukemia and myelodysplastic syndrome.

Two partnered programs continue to progress: J&J's JNJ-89853413 in Phase 1 trials for AML/MDS, and Pfizer's PF08046052 for advanced solid tumors.

London stocks dragged down by financials after US lawmaker calls for StanChart probe

 Standard Chartered shares fell nearly 9% on Friday after a U.S. Republican lawmaker wrote to the Attorney General, Pam Bondi, asking for a probe to be launched into the bank, claiming it was involved in sanctions evasion.

Elise Stefanik, a New York Republican, requested in a letter shared on the X social media platform and published on her website that a special attorney be appointed to look into Standard Chartered's alleged failings.

Stefanik said that an unspecified case against Standard Chartered was due to expire next week and urged action before that date.

Standard Chartered said in a statement that the underlying allegations in a long-running civil case were "entirely false" and had been rejected by U.S. courts multiple times.

The claimant had been pursuing the claims since 2012, the bank has previously said.

"We expect the dismissal of this case will continue to be upheld on appeal," the bank said on Friday, adding it would fully cooperate with any relevant authorities and was committed to fighting financial crime.

The Attorney General's office did not immediately respond to a request for comment.

The bank's shares, which had been about 1.5% lower earlier on Friday, plunged almost 9% before closing down 7.2%. One trader linked the share move to the letter.

Like other European lenders, Standard Chartered's stock has risen sharply this year on robust earnings and hit a near 12-year high earlier this week.

Standard Chartered has previously been the subject of U.S. scrutiny. The bank agreed to pay $1.1 billion in 2019 to U.S. and British authorities over transactions which breached sanctions against Iran and other countries.

The bank was also the subject of a U.S. deferred prosecution agreement, which in 2019 was extended for two years.

https://uk.finance.yahoo.com/news/stanchart-shares-fall-7-u-144816329.html

The Usual Suspects: Disclosure On Scuttled Clinton Foundation Probe Reveals Familiar Names

 by Jonathan Turley,

As the Trump Administration finally releases the underlying documents related to prior scandals and investigations, the public has learned a great deal about the origins of the Russian collusion investigation and other subjects.

This week, another document was released explaining why the investigation into the Clinton Foundation seemed to go nowhere.

What is less surprising are the characters involved in shutting down the investigation.

It is, as Claude Rains would say, “the usual suspects” from former Acting Attorney General Sally Yates to former Deputy FBI Director Andrew McCabe.

Many of us had written about the allegations of influence peddling by the Clintons.

While Hillary Clinton was Secretary of State, the Clintons raked in hundreds of millions of dollars from foreign sources.

Clinton Foundation officials were shown to have intervened for donors at the State Department. Those funds were used not only for the Clinton Foundation programs but also for travel and support for the Clinton family members. (Tellingly, donations reportedly plummeted after Clinton left office).

What is striking is that officials who relentlessly pursued Trump and his associates on little evidence were reportedly opposed to aggressive efforts involving the Clintons.

I was one of the loudest critics of Sally Yates, who ordered the entire Justice Department not to assist Trump on immigration efforts after his inauguration. In my view, Yates’s conduct (just days before she was scheduled to leave the department) was a raw political move that shattered standards of professional conduct. It would also make her a heroine on the left and in the media.

Ultimately, Trump prevailed on the underlying claims of authority raised in the immigration orders before the Supreme Court.

In these documents, Yates is shown in an email shutting down the investigation into the Clintons. Despite findings of good cause for further investigation into these allegations of pay-to-play corruption, Yates (then-Deputy Attorney General) is quoted as saying, “Shut it down!”

FBI Director Kash Patel released a memo showing a timeline of the interference, including the message from Sally Yates, whom Trump fired as acting attorney general. McCabe, who is now a CNN contributor, is again shown intervening in a crushingly predictable way.

The declassified timeline revealed that as early as February 2016, the Justice Department “indicated they would not be supportive of an FBI investigation.” The timeline also shows that, in mid-February 2016, McCabe ordered that “no overt investigative steps” were allowed to be taken in the Clinton Foundation investigation “without his approval” — a command he allegedly repeated numerous times over the coming months.

[…]

The timeline detailed how Yates ordered one of the federal prosecutors to “shut it down,” likely in the March 2016 timeframe. Federal prosecutors in the Southern District of New York (SDNY) and Eastern District of New York (EDNY) purportedly said in August 2016 that they “would not support the investigation” into the Clinton Foundation, according to the timeline, and that “no explanation was given.”

Special Counsel John Durham found that the FBI’s Little Rock and New York investigations “included predication based on source reporting that identified foreign governments that had made, or offered to make, contributions to the Foundation in exchange for favorable or preferential treatment from Clinton.”

Nevertheless, the FBI  timeline stated that DOJ “indicated they would not be supportive of an FBI investigation” on February 1, 2016.

For those of us who closely followed these investigations and wrote about them, this is hardly surprising but still very valuable for historical purposes. The consistent efforts of figures like McCabe only magnify concerns over the role of key figures in pushing investigations of Trump while discouraging investigations of top Democrats.

Once again, the media is largely ignoring the disclosures. The same reporters who exhaustively pushed the false Russian collusion claims have little interest in these countervailing disclosures. As with the conduct of Yates and McCabe, that is also an all-too-familiar pattern.

https://www.zerohedge.com/political/usual-suspects-disclosure-scuttled-clinton-foundation-investigation-reveals-familiar

Left leanings of Goldman economist Jan Hatzius in Trump crosshairs

 by Charles Gasparino

The voluble Goldman Sachs economist who drew President Trump’s fury this week has backed lefty government spending for years – and even once wrote a $2,300 check to fund Barack Obama’s first White House bid, On The Money has learned.

Jan Hatzius – a fixture on financial TV and the chief spokesman of the firm’s economic forecasting – was one of the few economists who called the housing bubble that led to the 2008 financial crisis. He has also pushed for progressive policies over the years, say right-of-center Wall Streeters who have studied his economic forecasts.

Now Hatzius is targeting Trump’s tariff war with a research note this week predicting that US consumers will bear the brunt of it. That drew a sharp rebuke from The Donald, who first went after Goldman CEO David Solomon – tweaking him over his controversial DJing hobby.

Illustration of Jan Hatzius speaking, with Joe Biden and Barack Obama in the background.
During the 2024 election, left-leaning Jan Hatzius said Kamala Harris’s economic policies – which included socialism in the form of price controls on groceries, tax hikes and open borders – was net-net better than President Trump’s.Jack Forbes / NY Post Design

“I think that David should go out and get himself a new Economist or, maybe, he ought to just focus on being a DJ and not bother running a major Financial Institution,” Trump wrote on Truth Social. “They made a bad prediction a long time ago on both the Market repercussions and the Tariffs themselves, and they were wrong, just like they are wrong about so much else.”

Noting that tariffs could get passed on to consumers isn’t exactly far-fetched economic thinking, of course. On Thursday, the producer price index spiked, though other gauges suggest inflation remains largely in check

Still, critics maintain that Hatzius has been touting left-of-center economic policies from his influential perch for years. One jaw-dropping example came during the 2024 election, when Hatzius said Kamala Harris’s economic policies – which included socialism in the form of price controls on groceries, tax hikes and open borders – was net-net better than Trump’s, which included deregulation and tax cuts in addition to tariffs.

“He is way to the left in his understanding of the economy,” said one top economist who has followed Hatzius’ work and asked not to be named. “He’s much like a career Fed staffer and worse because he’s partisan.”

Hatzius joined Goldman in 1997. Over the years, he championed massive spending edicts during Democratic presidencies of Barack Obama and then Joe Biden, including their moves to ramp up regulations and seek tax increases that hurt job creation.

Goldman Sachs logo on a wooden sign at the New York Stock Exchange.
Goldman insiders insist Hatzius is bipartisan in analyzing policy, and recently briefed some GOP lawmakers on the economy.Reuters

And while some of Hatzius’ calls have been spot on, others have been way off the mark, his detractors say. The Fed missed the inflationary spike during the Biden years because it was too worried about growth and Hatzius wasn’t exactly a critic of the Biden spending blowout. 

In fact, Hatzius has spoken lovingly about printing money, aka quantitative easing, another reason for higher inflation during Sleepy Joe’s reign. He thinks the Fed should be actively managing the economy rather than simply looking to stem the tide of inflation.

On top of it all, the only time Hatzius appears to have financially supported a presidential candidate over the past two decades was with his $2,300 donation to Obama in 2007, according to campaign finance records.

He also gave $1,000 to the Democratic Party in 2004, the records show.

In 2012, Fortune labeled Hatzius “Obama’s Best Friend at Goldman Sachs,” for his cheerleading of the Democrat’s policies. That was when Goldman also gained the nickname “Government Sachs” for the pipeline of talent moving from its boardroom to Cabinet positions in both Republican and Democratic administrations.

A Goldman spokesman declined to comment when fully briefed on this report; through the spokesman Hatzius declined comment.  

Others at the investment bank did push back on the notion that Hatzius is ideological in the way he does his job. They note his research often moves markets, how many of his calls have been prescient, including the prediction of the subprime crisis. They insist he’s bipartisan in analyzing policy, and recently briefed some GOP lawmakers on the economy.

“How progressive can he be if Republicans would want to hear his thoughts?” one executive said.

“Jan’s research is for clients — they make investment decisions based on his research. Year after year he and his team are recognized as the most accurate. This wouldn’t be true if his research was political.”

https://nypost.com/2025/08/15/business/lefty-leanings-of-goldman-economist-jan-hatzius-in-trump-crosshairs/

Federal grand jury indicts New Orleans Mayor LaToya Cantrell after years-long investigation

 



The charges mark a low point for the former neighborhood organizer who rose from a City Council seat to the city's top political office.


A federal grand jury returned a criminal indictment Friday of New Orleans Mayor LaToya Cantrell, capping a years-long corruption investigation that had overshadowed the mayor's second term.

The grand jury handed up charges against the sitting mayor at the Hale Boggs federal building in downtown New Orleans shortly before 1 p.m. Addressing Magistrate Judge Eva J. Dossier, a member of the grand jury identified Cantrell as a defendant against freshly filed charges but did not list the counts she faces or describe the allegations they stemmed from. A copy of the indictment was not immediately available.



Jeffrey Vappie, the mayor's former New Orleans Police Department bodyguard charged last summer with wire fraud and false statement counts, also faces fresh charges under Friday's indictment.



The criminal charges — an apparent result of the wide-ranging probe into Cantrell's spending, political activities and other alleged acts — mark a stunning low point for the Democratic mayor, a former neighborhood organizer who rose eight years ago from a seat on the City Council to New Orleans' top office. Her ascent shocked the city's political class and epitomized changes that swept New Orleans politics following Hurricane Katrina.



The charges will pose thorny questions about what comes next for the city's leadership in the waning months of Cantrell's tenure as mayor. Set to leave office due to term limits in January of 2026, she was already embattled by low approval ratings, legal troubles, a lack of political allies and a series of scandals.

Cantrell's attorney, Eddie Castaing, did not immediately respond to a request for comment on the indictment. The mayor's press office could not immediately be reached for comment on the indictment. Attorneys for Vappie could not immediately be reached.



Before Friday, political and legal observers had begun to think Cantrell might escape charges as the investigation by the U.S. Attorney's Office faced a snarl of challenges, including changes within President Donald Trump's Justice Department, obstacles in corralling witnesses and the small sums involved in a previous bribery indictment that featured Cantrell.

She becomes the second mayor in New Orleans history and its first sitting mayor to face criminal charges. Former Mayor Ray Nagin was found guilty at trial on corruption counts in 2014 after leaving office.






The charges against Cantrell stemmed from a probe begun under former President Joe Biden's administration. The grand jury delivered them amid widespread upheaval within federal law enforcement as Trump overhauls the Justice Department and FBI, focusing agents anew on immigration, violent crime and investigating Trump's enemies.






The Justice Department's Washington-based civil rights, environmental crimes and public corruption offices — areas where veteran prosecutors say New Orleans' U.S. Attorney's Office has long excelled — have been gutted.



Political veterans and legal observers alike view an indictment of Cantrell, known as a bold politician who rarely displays weakness lest it becomes fodder for her opponents, as unlikely to prompt her to resign.

She has rarely bowed to critics, from holding out on reimbursing taxpayers for seat upgrades on overseas flights to fighting city lawmakers on project funding and, more recently, on a deal to withhold settlement money from the Orleans Parish School Board.






Amid the federal investigation, Cantrell has fought prosecutors' scrutiny by arguing that her race draws criticism that White politicians escape.

Being subject to federal investigation “seems to be kind of prevalent relative to Black leadership," she said at a news conference in 2023. "I am not exempt from that.”

Assistant United States attorneys Jordan Ginsberg and Nick Moses presented Friday's indictment before the magistrate judge.
Earlier indictments

The scope of the investigation into Cantrell came into sharper focus through a pair of indictments filed in New Orleans' federal court last year.



Prosecutors indirectly accused Cantrell in September of accepting bribes from a private electrical inspector, Randy Farrell, in exchange for firing a high-ranking city official five years earlier. Those claims formed part of a series of allegations involving New Orleans' Department of Safety and Permits and Farrell's alleged efforts to cover up a years-long fraud scheme.






Prosecutors identified the mayor in that indictment as "Public Official 1." Her second-in-command, Chief Administrative Officer Gilbert Montaño, was also described as indirectly accepting gifts from Farrell. Montaño, who announced this week he will leave city government several months before the end of Cantrell's second term, has not been charged.

Cantrell had also been implicated in an earlier corruption indictment of her former New Orleans Police Department bodyguard, whom federal prosecutors accused last summer of fabricating timesheets and lying to FBI agents in efforts to conceal an alleged romantic relationship between himself and Cantrell. The officer, Jeffrey Vappie, and Cantrell have both denied having an affair.






Once a fiery public orator whose roots as an organizer lent her an aura of accessibility to voters, Cantrell transformed amid the federal investigation after hiring a crisis communications specialist, Terry Davis, who served as a mouthpiece for Nagin, to lead City Hall's press office. She canceled events, avoided communicating with reporters and delivered more clipped remarks in curated appearances.

The mayor had become somewhat more accessible in recent months, conducting interviews alongside city and state officials about New Orleans' response to violent crime, security preparations for the Super Bowl and the aftermath of the truck-ramming attack that killed 14 people on Bourbon Street on New Year's Day.






This summer she has repeatedly slammed critics of her administration during public appearances, including at a conference of U.S. mayors in June and on a panel at the Essence Festival of Culture in July.
Years-long probe

Investigators had been scrutinizing Cantrell for upwards of two years, but beyond allegations leveled in the indictments of Farrell and Vappie last year, precisely what they were examining wasn't always clear. In late 2022, prosecutors issued subpoenas to two high-end clothing boutiques where a fashion consultant for Cantrell, Tanya Haynes, made numerous purchases. The consultant said Cantrell had paid for whatever clothes she kept.






The FBI also sought information on dealings between Cantrell’s campaign donors and her administration, sources have said.

Last July came the indictment of Vappie, which described Vappie and Cantrell allegedly discussing how they should delete messages about his allegedly fraudulent time sheets. A grand jury charged Farrell two months later, accusing him of using fraudulent permits to illegally inspect homes and bribing Cantrell and other officials with football tickets and other gifts in a bid to avoid scrutiny.






Both men have pleaded not guilty. Farrell's trial is set for October and Vappie's for January.

The indictments of people in her orbit, and now of Cantrell herself, followed a series of controversies that set her second term off to a rocky start: her handling of Hurricane Ida, overseas travel on taxpayers' dime and alleged relationship with Vappie.




Her administration also confronted challenges partly outside her control, and her allies have argued that she faces unfair criticism.

The ongoing economic fallout and mass death of the COVID-19 pandemic, a spike in violent crime that tracked national trends and infrastructure troubles that have plagued New Orleans for decades have all harmed constituent morale in the Crescent City, polling shows.

Cantrell won praise from fellow Democrats for her handling of COVID-19, which gave her a national platform as a blue mayor in a deep-red region resistant to masks, lockdowns and distancing — measures Cantrell embraced.






But COVID also marked a sharp turn in her administration's fortunes: Cadres of senior staff and advisors left her side after the pandemic's first year, which coincided with the end of the mayor's first term. Polling shows constituent opinion of her performance cratered around that time, too, as voters started to view her administration's handling of crime and infrastructure in the fallout of Hurricane Ida, in August of 2021, as inept.



Cantrell faced more personal, private struggles as public criticism mounted during her second term.




Her husband, longtime New Orleans lawyer and public defender Jason Cantrell, died suddenly in 2023. The Cantrells had publicly struggled with their finances, with the federal government securing a lien on their house in 2020 over unpaid taxes, and a roofing company doing the same in 2023 over alleged nonpayment for a new roof. In October, Cantrell spoke publicly for the first time about having been sexually assaulted as a child and surviving the trauma.



With the filing of Friday's indictment, Cantrell becomes the third Democratic mayor of a major U.S. city to face criminal charges in the past year.




In September, federal prosecutors charged New York City Mayor Eric Adams with accepting illegal campaign contributions and overseas trips from Turkish officials and businesspeople seeking to curry favor with his office. Prosecutors in Jackson, Mississippi indicted Mayor Chokwe Antar Lumumba two months later on conspiracy and bribery charges along with the local district attorney and a Jackson City Council member.



Earlier this year, officials in Trump's Justice Department took the extraordinary step of ordering federal prosecutors in New York to drop their case against Adams, arguing that the charges risked impeding his city from helping Trump enforce his sweeping immigration crackdown.





That move plunged the U.S. Attorney's Office for the Southern District of New York into turmoil as several prosecutors who worked on the Adams probe resigned in protest.



This is a developing story. Check back for updates.