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China state planner lays out further actions to boost economy but no new plans for major stimulus

China will speed up special purpose bond issuance to local governments to support regional economic growth, senior NDRC officials said.

Crypto relationship scams pose 'catastrophic harm,' SEC official says. Here's how to avoid them

Criminals are using social media, networking and dating sites to lure people into buying fake crypto investments.

Tensions rise between banks and tech companies over online fraud liability in the UK

In the U.K., a number of financial firms see themselves as bearing the brunt of the cost for scams taking place virtually.

Fed rate cuts should favor preferred stocks, Virtus money manager says

One financial firm is trying to capitalize on preferred stocks – which carry more risks than bonds, but fewer risks than common stocks.

Stock futures rise slightly as Wall Street awaits September jobs report

U.S. stock futures rose slightly early Friday as traders looked ahead to the widely anticipated release of September’s jobs report. Futures tied to the Dow Jones Industrial Average gained 57 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures climbed 0.3% and 0.4%, respectively. Economists polled by Dow Jones expect that nonfarm payrolls will show growth of 150,000, up from 142,000 in August. The unemployment rate is expected to hold steady at 4.2%. The employment data will likely only move markets if it comes in below expectations, said Barbara Doran, founder of BD8 Capital Partners. “I think the number tomorrow is important, but I don’t think it will have a big impact, and I’d also be very surprised if it’s not a good number,” she said on CNBC’s “Closing Bell: Overtime” on Thursday afternoon. Mounting geopolitical tensions have contributed to a shaky start in October for the stock market. These headwinds could weigh equities lower so they end the week in negative territory, Doran added. All three major averages are on pace to snap a three-week win streak. The S&P 500 is off 0.7% week to date, as is the Dow. The Nasdaq is on track for a loss of 1.1% in the period. U.S. oil futures climbed about 5% Thursday, weighing on the major averages. Crude prices were up another 1.6% on Friday. Energy prices have taken a leg higher this week, spurred by heightened tensions in the Middle East after Iran launched a missile attack on Israel. To be sure, one overhang has been removed after a closely watched port strike ended Thursday night, as the International Longshoremen’s Association and the United States Maritime Alliance reached a tentative agreement on wages. The parties also agreed to extend their existing contract into January to allow more time for further negotiations. U.S. Treasury yields were little changed Friday as investors gear up for the closely watched September jobs report. The 10-year Treasury yield was higher by less than 1 basis point at 3.859%, while the yield on the 2-year Treasury was also less than 1 basis point higher at 3.721%. Asia-Pacific markets traded mixed on Friday following losses on Wall Street, with concerns over Middle East tensions keeping investors on edge in the run up to September’s U.S. payrolls report. Hong Kong’s Hang Seng index is up over 2%, resuming a rally after slipping 1% in its first hour of trade. Australia’s S&P/ASX 200 lost 0.67% to close at 8,150 points. Japan’s Nikkei 225 added 0.22% to close at 38,635.62 points points, while the broad-based Topix inched up 0.39% to end at 2,694.07 points. South Korea’s Kospi was trading 0.31% higher to close at 2,569.71 points, while the Kosdaq rose 0.9% to close at 768.98 points. Markets in mainland China will reopen on Oct. 8. Chinese stocks had been on a tear after authorities announced a slew of support measures last week. Gold prices were little changed on Friday as investors maintained caution ahead of a key U.S. jobs report that could influence the Federal Reserve’s rate path. Spot gold was nearly steady at $2,659.13 per ounce by 1019 GMT, after scaling a record high of $2,685.42 last week. U.S. gold futures were flat at $2,679.10. “Gold has had a very good run in recent weeks, so (it is) not that surprising it isn’t pushing significantly higher. ... U.S. Treasury yields have risen and the dollar has appreciated, presenting some headwinds despite the geopolitical tailwind,” Nitesh Shah, commodity strategist at WisdomTree, said.

Digital bank Revolut slams Meta over approach to scams, says tech giant should compensate victims

British fintech Revolut criticized Meta over its approach to tackling fraud and said the U.S. tech giant should directly compensate fraud victims.

Klarna CEO says a European tech brain drain is ‘number one risk’ for company ahead of IPO

Klarna boss Sebastian Siemiatkowski said unfavorable share-based compensation rules in Europe could cause employees to flock to U.S. tech companies.

China stock ETFs rip higher even as mainland markets close for holiday

Exchange-traded funds overseas that track Chinese stocks continued their rally Wednesday even as mainland markets were shut for a week-long holiday.

Goldman-backed Starling Bank hit with $38.5 million fine for financial crime prevention failures

London's Financial Conduct Authority said it has fined Starling "for financial crime failings related to its financial sanctions screening."

Facebook owner Meta forms data-sharing pact with UK banks to counter scams

Meta is working with U.K. banks NatWest and Metro Bank on an information-sharing agreement to help them prevent customers from falling victim to fraud.

With Hurricane Helene disrupting travel, here’s what fliers need to know

Travelers impacted by Hurricane Helene's destruction in the Southeast U.S. may be out of luck when it comes to financial compensation.

Mastercard to buy Swedish startup that makes it easier to manage and cancel subscription plans

The payments giant touted the deal as a way to help consumers with a key pain point — managing the myriad subscription services that exist today.
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