Mangione attorneys seek hearing on claims DA's office improperly obtained medical records

 Luigi Mangione's defense attorneys are doubling down on accusations the Manhattan District Attorney's office improperly obtained and reviewed his medical records. 

The DA's office denied the claims, but Mangione's attorneys are once again asking the judge to hold an evidentiary hearing on the matter. 

"Based on the evidence developed through this discovery process and the requested hearing, the defense reserves the right to seek various remedies, including the recusal of the prosecution team, suppression of evidence or dismissal of the indictment," the defense wrote in their latest filing. 

Attorneys for the man accused of murdering UnitedHealthcare CEO Brian Thompson first raised the allegations over his medical records in a filing last month.

They claimed the DA's office wrongfully obtained the records by compelling Aetna to turn over confidential information, violating health privacy laws. 

Sources in the DA's office said they requested limited information but Aetna sent additional material in error, and that they deleted the material as soon as they became aware of it. 

"Even assuming Aetna's subpoena response exceeded what the District Attorney's Office requested, that still does not justify the prosecution reviewing Mr. Mangione's protected medical records that it was mistakenly given," the defense wrote in the new filing. 

This isn't the first time the defense raised concerns about evidence and tried to get the charges dismissed. They also accused the DA's office of listening to a recording of a phone call with their client, and they are seeking to have at least two of the counts against him thrown out. 

Mangione faces a slew of federal and state charges in the December 2024 shooting of Thompson outside a hotel in Midtown Manhattan. The federal charges are eligible for the death penalty, which federal prosecutors say they intend to pursue. 

In June, the DA's office released a filing with handwritten notes they say Mangione wrote and outlined his motive. Arguing in support of the state terrorism charge, prosecutors wrote, "If ever there were an open and shut case pointing to the defendant's guilt, this case is that case."

Mangione has pleaded not guilty, and his next court date is set for mid September. 

Earlier this month, he was granted a request for a laptop while in federal custody so he can prepare for trial. It isn't connected to the internet and he can only access case-related information, like documents and videos.

https://www.cbsnews.com/newyork/news/luigi-mangione-ceo-killing-medical-records/

China weighs yuan-backed stablecoins in major policy shift

 China, one of the most restrictive global jurisdictions for cryptocurrencies, is reportedly considering allowing Chinese yuan-backed stablecoins in what would be a major policy reversal.

Chinese authorities may authorize yuan-backed stablecoins for the first time to promote global use of its currency, Reuters reported on Wednesday, citing sources familiar with the matter.

If approved, China’s plan for stablecoin use would mark a major shift in its approach to crypto after the country banned crypto trading and mining in September 2021.

The news followed multiple reports suggesting that mainland China had been warming up to stablecoins amid a US stablecoin push in 2025.

Cross-border implementation

According to the sources, China’s State Council will review and potentially approve a roadmap later in August to expand global use of the yuan. The plan reportedly includes steps to counter US progress on stablecoins and guidelines for risk prevention.

One use case for a potential yuan-backed stablecoin from mainland China would be the implementation of stablecoins for cross-border trade and payments with some countries.

This issue is expected to be discussed at the Shanghai Cooperation Organization (SCO) Summit that will be held between Aug. 31 and Sept. 1 in Tianjin.

China to hold SCO summit in Tianjin on Aug. 31 to Sept. 1. Source: Gov.cn

Hong Kong and Shanghai have been identified as priority hubs for rolling out the policy, according to the sources.

Yuan ranks sixth in global payments

China’s potential entry into the stablecoin market would align with its ambitions to globalize the yuan and help it compete with key global reserve currencies such as the US dollar and the euro.

As of June, China’s yuan was the sixth most active currency for global payments by value, with a share of around 2.9%, according to Swift’s RMB Tracker.

Top 10 global payment currencies by value as of June 2025. Source: Swift

As reported, in June, mainland China had been exploring new ways for foreign institutions to use the yuan amid the US Dollar Index plummeting 9%.

At the time, People’s Bank of China (PBOC) Governor Pan Gongsheng outlined the plan to “weaken the excessive reliance on a single sovereign currency” and set up a center for digital yuan internationalization in Shanghai.

US dollar stablecoins dominate market at 98%

While the US dollar makes up 47.2% of global payments, its role is far bigger in the stablecoin market, where dollar-backed tokens represent almost 98% of $288 billion in the total stablecoin market capitalization, according to CoinMarketCap.

With President Donald Trump pledging to expand the dollar’s global reach by promoting stablecoins, many jurisdictions worldwide have raised concerns, including China.

In June, a PBOC official acknowledged the transformative potential of emerging technologies like stablecoins in global payment systems, intensifying calls for regulatory approval of yuan-backed stablecoins.

In July, Conflux, a local blockchain platform, introduced a new stablecoin backed by offshore Chinese yuan.

Neighboring jurisdictions like Hong Kong have also taken steps toward stablecoin approval, launching a dedicated regulatory framework on Aug. 1

https://cointelegraph.com/news/china-considering-yuan-backed-stablecoins-global-currency-usage

Fed's Waller sees stablecoins, AI working with traditional payment systems

 The Federal Reserve is conducting technical research in such areas as tokenization, smart contracts, and artificial intelligence in payments, Fed Governor Christopher Waller said on Wednesday.

In a speech at the Wyoming Blockchain Symposium, he discussed the development of stablecoin uses. Stablecoins, which are pegged to an asset like fiat currency, were originally used to facilitate crypto trading. But the properties of stablecoins — 24/7 availability, fast transferability, and their freely circulating nature — could be attractive for other uses, he said.

Such an asset could provide a means to access and hold U.S. dollars, especially in countries with high inflation or without easy or affordable access to dollar cashing or banking services, he said. "In fact, I believe that stablecoins have the potential to maintain and extend the role of the dollar internationally. Stablecoins also have the potential to improve retail and cross-border payments."

While some have feared that crypto and blockchain technology will make traditional payment rails obsolete, the new payment technology may be working along with traditional payments.  "For example, many stablecoin arrangements use legacy payment services to fund and redeem stablecoin balances," Waller said.

He also highlighted that "AI is not serving as payments infrastructure, but as an enabling technology that could bring considerable benefits to both private and public sector-operated payment services." For example, AI is being used to improve fraud detection and compliance.  And with agentic AI, which executes multistep processes autonomously, "payments innovators in the private sector are once again channeling the promise of this technology and rapidly building out various use cases," Waller said.

He looks forward to working with private sector innovators to further advance payment systems.

"It is my belief that the Federal Reserve could benefit from further engagement with innovators in industry, particularly as there is increased convergence between the traditional financial sector and the digital asset ecosystem," Waller said. "We are working on ways to further that engagement, so stay tuned."

https://www.msn.com/en-us/money/markets/fed-s-waller-sees-stablecoins-ai-working-with-traditional-payment-systems/ar-AA1KSJMv

Alcon trims guidance, sees $100 mln hit from U.S. tariffs

 Alcon AG (SIX:ALCC) (NYSE:ALC) saw its shares tumble more than 10% on Wednesday after the company lowered its 2025 sales guidance on Tuesday, citing the continued drag from U.S. tariffs.

The Swiss-American eye-care company, which generates almost half of its revenue in the U.S., now expects annual net sales of $10.3 to $10.4 billion, down from the $10.4 to $10.5 billion range it projected in May.

The company said the full-year tariff impact is likely to be about $100 million, though it aims to soften the blow through operational adjustments and currency effects.

U.S. tariffs on goods from Switzerland currently stand at 39%, among the highest faced by any Western nation. In 2024, Alcon derived 46% of its sales from the U.S. market.

"We think the bar into this quarter was a maintained guidance," Bank of America analysts said. "However, we now see a clear reset considering market development and competitive pressure, without implying EPS cut in FY25 ahead of product launches benefit."

"We believe management needs to deliver on Unity in the second half in order to regain credibility after several warnings," they added. 

Second-quarter revenue increased 4% to $2.58 billion, below the $2.63 billion analysts expected, according to LSEG data. The group noted softer demand for its surgical products in the first half of the year.

Diluted earnings per share (EPS) for the quarter were $0.35, while core diluted earnings per share came in at $0.76.

https://www.investing.com/news/stock-market-news/alcon-trims-guidance-sees-100-mln-hit-from-us-tariffs-4201273

Health care stocks with the largest net increases at hedge funds: Goldman

 

• Thermo Fisher Scientific (TMO) - # of position increases minus decreases: 44.
• UnitedHealth Group (UNH) - # of position increases minus decreases: 44.
• Veeva Systems (VEEV) - # of position increases minus decreases: 37.
• Insmed Inc.

https://seekingalpha.com/news/4487540-health-care-stocks-with-the-largest-net-increases-in-hedge-fund-popularity-goldman-sachs

iRhythm Technologies (IRTC) Surpasses Q2 Revenue Forecasts, Raises Outlook

 iRhythm Technologies, Inc. (NASDAQ:IRTC)  held an earnings call in which they hailed the records set in Q2 2025, as well as earnings beats. During the quarter, iRhythm’s revenue reached $186.7 million, a 26.1% year-over-year increase. The result beat analyst estimates by $12.7 million (expected: $174 million), a 7.3% positive surprise.

Adjusted EPS for the quarter was –$0.32, which was better than analyst forecasts of –$0.47; a 32.5% beat. Adjusted EBITDA came in at $15.7 million (8.4% margin), exceeding estimates of $11.82 million. Meanwhile, the operating margin improved to –10%, up from –15.5% the previous year.

The company set records for new account openings, long-term monitoring clients, and adoption among integrated delivery networks. Management also noted that international demand is strong, with progress reported in markets such as the UK, Europe, and Japan. They raised the full-year revenue guidance to between $720 million and $730 million (midpoint $725 million), up from $695 million—a 4.3% increase over prior guidance.

iRhythm Technologies, Inc. (NASDAQ:IRTC) is a digital healthcare company. It specializes in the design and commercialization of device-based technologies for ambulatory cardiac monitoring. Its flagship products—Zio XT, Zio AT, and Zio Monitor—are wearable ECG systems that enable continuous heart rhythm tracking for up to 14 days.

https://finviz.com/news/144797/irhythm-technologies-irtc-surpasses-q2-revenue-forecasts-raises-outlook

In Live CNBC Audition, Jefferies' Zervos Says Fed Not Independent, Powell Left-Leaning

 David Zervos, the Chief Market Strategist at Jefferies, has garnered significant attention as a potential candidate for the role of Federal Reserve Chair, amid increasing activity on prediction markets. 

This morning he placed his flag firmly in the ground as a front-runner and most assuredly got President Trump's attention when he said during a CNBC interview that it's inaccurate to describe the US central bank as independent, and moreover, 'Wall Street Jesus' (as he has been called given his hirsute characteristics) described the outgoing Fed chief as aligned with the political left.

“The Fed has never been independent, and the political pressures on the Fed have always been growing and continue to grow,” Zervos said on CNBC.

He then went further:

“I think he’s actually quite a bit dependent,” Zervos said of Powell.

“He’s operating politically from the left. Or, let’s put it this way, from the anti-Trump side.”

He highlighted pressure from Democratic lawmakers in recent years on monetary policymakers to lower interest rates.

History features episodes of Treasury secretaries and administrations “behind the scenes” trying to influence Fed chairs, Zervos also said.

Watch the full exchange here (with Andrew Ross Sorkin unable to contain his own 'independence')...

The Jefferies strategist is no stranger to the limelight as some may remember he refused to cut his hair until Fed Chair Powell cut interest rates...

...which he did in 2019...

After which appears to have discovered Ozempic (picture here with Kellyanne Conway who he reportedly dated for a time)...

Zervos' odds are on the rise across prediction markets with PolyMarket seeing a big spike yesterday and now Zervos is up to the 3rd place...

Zervos also repeated his argument that the steady contraction of the Fed’s balance sheet in recent years has left monetary policy more restrictive than many perceive - adding to the case for lowering rates.

“You’re left now with rates at a much more restrictive rate, without that extra kicker from the balance sheet,” Zervos said.

“So we really need to get rates back toward a more neutral level.”

https://www.zerohedge.com/political/live-cnbc-audition-jefferies-zervos-says-fed-not-independent-powell-left-leaning