🇭🇰 Hong Kong is pushing through a sweeping tax bill to fend off rivals like Singapore and Dubai, with a broad expansion of carried-interest exemptions that has sparked a rush among hedge funds and unease at investment banks worried about losing prop traders. Some firms are even exploring creative restructures—such as rebranding a receptionist as an investor relations officer—to maximize the potential tax windfall.
‼️ Overseas holdings of US Treasuries fell by $72.1 billion in June to $9.3 trillion, marking declines in three of the past four months after peaking in February.
‼️ 🧠 Nvidia will be the exclusive AI infrastructure provider for OpenAI’s planned facility at SB Energy’s PORTS-Pike Technology Campus in Ohio. SB Energy will build, own, and operate the site under a 20-year lease, providing the land, power, and shell capacity.