Senior editor at @gfmag who covers corporate finance, fintech, and other interesting and nerdy things | All opinions are my own.
Articles by Rob Daly
June Jobs Data Disappoints; Financial Sector Hiring Fell in First Half
Global Finance Magazine Missed payroll expectations and revised April and May numbers put the Fed in a tough spot for rate cuts. June’s employment numbers showed almost no change from the previous month, as the Bureau of Labor Statistics reported a 4.2% unemployment rate and an estimated 57,000 nonfarm payroll jobs, roughly half the 115,000 economists expected. At the same time, the agency also revised April’s and May’s total nonfarm payrolls down by 31,000 and 43,000 jobs, respectively.
June Jobs Data Disappoints; Financial Sector Hiring Fell in First Half
Missed payroll expectations and revised April and May numbers put the Fed in a tough spot for rate cuts. June’s employment numbers showed almost no change from the previous month, as the Bureau of Labor Statistics reported a 4.2% unemployment rate and an estimated 57,000 nonfarm payroll jobs, roughly half the 115,000 economists expected. At the same time, the agency also revised April’s and May’s total nonfarm payrolls down by 31,000 and 43,000 jobs, respectively.
What if Revolut Isn’t the Only Threat? How Santander Is Quietly Targeting the US
Global Finance Magazine Europe’s financial innovators are arriving in the US from more than one direction. After moving to Spain from Los Angeles in January of last year, I quickly realized that much of the innovation in finance is happening in Europe. Meaning the seismic shifts in how consumers manage and spend money in their day-to-day lives. U.K.-based fintech Revolut filed for a U.S. bank charter with the Federal Deposit Insurance Corp.
US Banks Ace Fed’s 2026 Stress Test
Global Finance Magazine Major US banks proved resilient under the Fed’s severe 2026 stress test scenario. This year’s Federal Reserve Stress Test, which involved 32 U.S. banks, simulated a hypothetical real estate Armageddon in which commercial real estate prices fell 39%, housing prices declined 30%, unemployment spiked to 10%, and economic output dropped commensurately. The results were encouraging.
US Banks Ace Fed’s 2026 Stress Test
Major US banks proved resilient under the Fed's severe 2026 stress test scenario. This year’s Federal Reserve Stress Test, which involved 32 U.S. banks, simulated a hypothetical real estate Armageddon in which commercial real estate prices fell 39%, housing prices declined 30%, unemployment spiked to 10%, and economic output dropped commensurately. The results were encouraging. Capital declined only 1.6 percentage points in aggregate, according to a Federal Reserve Board statement.
Assessing Alan Greenspan’s Legacy
As the financial world remembers the former Fed chair, economists weigh his massive macroeconomic legacy. Alan Greenspan, the second-longest serving chairman of the Federal Reserve’s Board of Governors, has died just months after his 100th birthday. Known as “The Maestro,” Greenspan helmed the Fed under five U.S. presidents, from August 1987 until January 2006. He managed the central bank through two market crashes, two recessions, and various financial crises.
Fed Scraps Forward Guidance Under Chair Kevin Warsh
A June interest rate pause comes with an abrupt policy change that strips away long-term market clarity. The Federal Open Market Committee (FOMC) omitted forward guidance from its June rate statement, leaving the federal funds target range unchanged. “It’s a bit shorter, a bit simpler, and it dispenses with some of the older language,” Federal Reserve Board Chair Kevin Warsh said during the press conference following the statement’s release.
Fed Scraps Forward Guidance Under Chair Kevin Warsh
Global Finance Magazine A June interest rate pause comes with an abrupt policy change that strips away long-term market clarity. The Federal Open Market Committee (FOMC) omitted forward guidance from its June rate statement, leaving the federal funds target range unchanged. “It’s a bit shorter, a bit simpler, and it dispenses with some of the older language,” Federal Reserve Board Chair Kevin Warsh said during the press conference following the statement’s release.
SpaceX’s Cash Management Conundrum
Global Finance Magazine A $60B tech acquisition marks the aggressive start of SpaceX’s post-IPO capital strategy. Space Exploration Technologies Corp. — more commonly known as SpaceX — is not letting proceeds from the largest initial public offering in history sit on the launchpad, and piquing the Street’s curiosity on its cash management strategy.
SpaceX’s Cash Management Conundrum
A $60B tech acquisition marks the aggressive start of SpaceX’s post-IPO capital strategy. Space Exploration Technologies Corp. — more commonly known as SpaceX — is not letting proceeds from the largest initial public offering in history sit on the launchpad, and piquing the Street’s curiosity on its cash management strategy.
New Fed Chair Warsh Eyes Changes
When the New Fed Chair opens his first Federal Open Market Committee meeting on June 16–17, markets will watch for subtle policy shifts ahead. Kevin Warsh, the newly minted chairman of the Federal Reserve System’s Board of Governors, will gavel open his first Federal Open Market Committee meeting on June 16. In the meantime, market watchers are preparing for changes the 17th Fed chair is expected to make, which could bring the Fed closer to alignment with President Donald Trump’s policies.
AI Drives 2026 Innovator Awards
Global Finance’s 2026 winners reveal how top banks are moving advanced tech into production. Annual industry benchmarks offer a clear view into evolving corporate strategies. The Global Finance Innovator Awards 2026—spanning banks and fintechs—confirm that artificial intelligence (AI) and generative AI (Gen AI) have transitioned from speculative tech to core drivers of operational efficiency.
Wall Street Jobs Data Tell Diverging Stories in May
Conflicting data from the BLS and ADP leaves the true health of the financial sector open for debate. The latest U.S. job numbers for Wall Street don’t line up. The U.S. Bureau of Labor Statistics (BLS) reported Friday that employment in the financial activities sector fell by 22,000 jobs in May, with insurance carriers losing 11,000 positions and commercial banking eliminating 3,000 jobs.
Mega-Cap IPOs Make Major Waves for Index Investors
Global Finance Magazine As SpaceX and Anthropic eye public listings, index providers brace for major market dislocations. When mega-cap companies go public, index providers and investors will see it as dropping battleships into the old fishing pond. The resulting waves are going to soak everyone.
Mega-Cap IPOs Make Major Waves for Index Investors
As SpaceX and Anthropic eye public listings, index providers brace for major market dislocations. When mega-cap companies go public, index providers and investors will see it as dropping battleships into the old fishing pond. The resulting waves are going to soak everyone. Privately held artificial intelligence (AI) vendor Anthropic announced its filing of a draft registration statement with the U.S. Securities and Exchange Commission (SEC) for an initial public offering at a later date.
Why Corporate Treasuries Are Increasing AI Investments
Though ROI is relatively low for finance organizations, many have cracked the code for higher returns. A recent Bain & Company survey reveals that less than half (48%) of senior financial executives have seen improvements in speed and cycle time since investing in artificial intelligence (AI) within their treasury organizations, and around a third (34%) have seen headcount efficiencies and cost reductions.
Beware of Financial Scammers Wielding Deepfake Tech
Deepfake fraud is becoming a persistent, multiyear corporate risk as synthetic voices circulate undetected. Deepfake-enabled fraud, which began as novel technical exploits, is now a persistent operational risk with a multi-year shelf life within the corporate ecosystem. According to deepfake-detection provider Resemble.AI, deepfakes typically remain in circulation for three-and-a-half years.
SEC’s Proposed Semiannual Reporting Rule Meets Resistance
Global Finance Magazine Receiving less frequent finanical information worries investors of all stripes. Investors do not like the U.S. Securities and Exchange Commission’s (SEC) week-old proposed rule on semiannual financial reporting. They really don’t like it. A vast majority, 92%, of comment letters received by the SEC regarding the proposed rule opposed it. Only 6% favored the rule’s adoption, while 2% simply wanted additional details regarding how the rule would operate.
SEC’s Proposed Semiannual Reporting Rule Meets Resistance
Receiving less frequent finanical information worries investors of all stripes. Investors do not like the U.S. Securities and Exchange Commission’s (SEC) week-old proposed rule on semiannual financial reporting. They really don’t like it. A vast majority, 92%, of comment letters received by the SEC regarding the proposed rule opposed it. Only 6% favored the rule’s adoption, while 2% simply wanted additional details regarding how the rule would operate.
Tokenization Reshapes Treasury-Transfer Agent Dynamics
Global Finance Magazine Tokenization brings automation and real-time reporting capabilities to corporate treasury’s back office relationship. The industry is spending billions to ensure tokenization establishes a toehold in one of corporate treasury’s most back-office relationships— the one with its transfer agents.
Tokenization Reshapes Treasury-Transfer Agent Dynamics
Tokenization brings automation and real-time reporting capabilities to corporate treasury's back office relationship. The industry is spending billions to ensure tokenization establishes a toehold in one of corporate treasury’s most back-office relationships— the one with its transfer agents.
IMF Won’t Participate in Venezuela Debt Restructuring
The IMF resumed Venezuela ties after a six-year freeze, focusing on data rather than debt relief. After announcing its resumption of its dealings with Venezuela under acting president Delcy Rodriguez on April 14, the International Monetary Fund plans to take a wait-and-see approach to the Latin American country’s plans to restructure its reported $170 billion in external debt.
EU Greenwashing Regs Get Sharper Teeth
New EU greenwashing regulations threaten hefty penalties and litigation for financial institutions and corporations that fail to verify their ESG marketing. Under new EU greenwashing regulations, companies making false or misleading sustainability claims could face hefty penalties as the Empowering Consumers for the Green Transition Directive takes effect on September 27.
Hungary’s New PM Picks Finance Chief to Lead Recovery
Hungary’s state-heavy 'Orbánomics" is officially over. Enter Péter Magyar, who wishes to 'mend relations' with the EU. Now that Péter Magyar has taken office as Hungary’s new prime minister, he will look to András Karman, his nominee for finance minister, to execute a rapid fiscal pivot, dismantling 16 years of state-heavy “Orbánomics” and restoring investor confidence in the Central European hub.
Financial Jobs Rebound in April as Wage Gap Widens
Financial sector jobs grew in April, but a record wage gap challenges the industry's recovery. There might be a light at the end of the tunnel for job safety in commercial banking — or it could be the light of an oncoming train. After more than 12 months of continuous job losses, commercial banks may be turning the corner. The ADP National Employment report for April 2026 noted that the financial activities sector grew by 9,000 positions, 5,000 more than the previous month.
DBS Group: Putting AI Into The Bank’s DNA
Tan Su Shan, CEO and director of DBS Group—winner of this year’s Best Bank in Asia-Pacific—discusses the benefit of AI investments. As global banks navigate trade fragmentation, AI disruption and volatile markets, DBS continues to distinguish itself through strong profitability and an aggressive technology strategy.
OTP Bank: Becoming AI And Data Literate
Péter Csányi, CEO of OTP Bank, named Best Bank in CEE, discusses the technologies and skills needed for the future. As Central and Eastern Europe’s banking landscape evolves, OTP Bank is accelerating its transformation into a more diversified, digitally driven regional powerhouse. Deputy CEO Péter Csányi discusses the bank’s strong 2025 performance, expansion ambitions and growing reliance on AI to enhance customer experience, automate lending and strengthen fraud prevention.
Here’s Why Mastercard Is Betting Big on BVNK — and Stablecoin
Global Finance Magazine The card company has positioned itself as a bridge between its global network and on-chain payment systems. For a technology that’s designed to leave traditional finance on the sidelines, credit card payment networks are making significant investments in stablecoins. Mastercard’s announced acquisition of BVNK, an enterprise stablecoin infrastructure provider, could usher in a new era of digital expansion for the legacy payments company.
Here’s Why Mastercard Is Betting Big on BVNK — and Stablecoin
The card company has positioned itself as a bridge between its global network and on-chain payment systems. For a technology that’s designed to leave traditional finance on the sidelines, credit card payment networks are making significant investments in stablecoins. Mastercard’s announced acquisition of BVNK, an enterprise stablecoin infrastructure provider, could usher in a new era of digital expansion for the legacy payments company.
DTCC Launching Tokenization for $114T Asset Market This July
Global Finance Magazine Just-in-time account funding may be right around the corner as tokenization provides real-time capabilities. Banks, broker-dealers, and clearing agencies could soon reduce capital buffers as Depository Trust & Clearing Corporation (DTCC) moves closer to operationalizing tokenization through its subsidiary, Depository Trust Company (DTC).
DTCC Launching Tokenization for $114T Asset Market This July
Just-in-time account funding may be right around the corner as tokenization provides real-time capabilities. Banks, broker-dealers, and clearing agencies could soon reduce capital buffers as Depository Trust & Clearing Corporation (DTCC) moves closer to operationalizing tokenization through its subsidiary, Depository Trust Company (DTC).
Powell’s Final FOMC Meeting Ends With Fed Autonomy In Doubt
Global Finance Magazine After eight years as leader of the Federal Board of Governors, Jerome Powell leaves behind a considerable legacy. Jerome Powell concluded his final Federal Reserve Open Market Committee (FOMC) meeting as chair on April 29, but said he would remain on the Board of Governors after his term as chair ends on May 15. His four-year term on the board ends January 31, 2028.
Powell’s Final FOMC Meeting Ends With Fed Autonomy In Doubt
After eight years as leader of the Federal Board of Governors, Jerome Powell leaves behind a considerable legacy. Jerome Powell concluded his final Federal Reserve Open Market Committee (FOMC) meeting as chair on April 29, but it remains unclear whether he’ll step down from the Board of Governors when his term as chair ends on May 15. His four-year term on the board ends January 31, 2028.
Private Credit’s Next Bet: Intellectual Property
Global Finance Magazine Asset-light companies reshape private credit as lenders embrace intellectual property collateral, despite valuation challenges, legal risks, and AI-driven obsolescence concerns. Asset-light companies are changing the world of private credit.
Private Credit’s Next Bet: Intellectual Property
Asset-light companies reshape private credit as lenders embrace intellectual property collateral, despite valuation challenges, legal risks, and AI-driven obsolescence concerns. Asset-light companies are changing the world of private credit.
SEC Mulls Semiannual Reporting
Global Finance Magazine SEC weighs semiannual reporting, easing quarterly burden, aligning with global markets and potentially boosting IPO appeal for smaller US companies. Financial reporting for US companies may soon be in step with the rest of the world as the US Securities and Exchange Commission (SEC) is expected to propose a rule change that would permit semiannual earnings reporting. The rule proposal may come as early as this month, according to the Wall Street Journal.
SEC Mulls Semiannual Reporting
SEC weighs semiannual reporting, easing quarterly burden, aligning with global markets and potentially boosting IPO appeal for smaller US companies. Financial reporting for US companies may soon be in step with the rest of the world as the US Securities and Exchange Commission (SEC) is expected to propose a rule change that would permit semiannual earnings reporting. The rule proposal may come as early as this month, according to the Wall Street Journal.
Stablecoins Gain Traction But CFOs Face Challenges
Global Finance Magazine Corporate CFOs explore stablecoins for faster payments and liquidity, but face challenges in compliance, governance, and regulatory uncertainty. More and more companies are turning to stablecoins—cryptocurrencies pegged to fiat currencies—to reduce settlement friction, compress working capital cycles, and lower transaction costs. Some are even considering launching their own.
Stablecoins Gain Traction But CFOs Face Challenges
Corporate CFOs explore stablecoins for faster payments and liquidity, but face challenges in compliance, governance, and regulatory uncertainty. More and more companies are turning to stablecoins—cryptocurrencies pegged to fiat currencies—to reduce settlement friction, compress working capital cycles, and lower transaction costs. Some are even considering launching their own.
Ford, BYD Talks Amp Up Concerns
Ford is weighing battery talks with China’s BYD to fuel its hybrid and extended-range push—sparking backlash from U.S. lawmakers. After taking a $19.5 billion charge to end production of electric vehicle (EV) lines including the Ford F-150 Lightning, Ford Motor Company has reportedly entered talks to source batteries from leading global EV manufacturer BYD for hybrid and extended-range EVs (EREVs). Hybrids and EREVs use a gasoline-powered engine to power onboard batteries.
Lululemon's McDonald Steps Down As CEO
Leisure and sportswear-maker Lululemon Athletica will start the year searching for a new chief executive, as CEO Calvin McDonald announced his departure during the company’s third-quarter earnings call in early December. McDonald steps down as CEO and board member effective January 31, but he will remain as a senior adviser through the end of the first quarter to ensure a smooth transition.
Twin wins for DBC
Both Deniliquin Bowling Club Midweek Pennant teams tasted success on Tuesday. Hold tight - we’re checking permissions before loading more content After a slow start to the season, Division 1 claimed a narrow two shot win against Rochester, and climbed into fourth place on the ladder, and they now have the opportunity to consolidate that position when they play fifth-placed Mathoura on Tuesday.
World's Best SME Banks 2026: Spurring Productivity
Smaller enterprises look to boost value-added per worker. Global Finance names the winners of its third annual World’s Best SME Banks. When it comes to productivity, bigger is usually better. Small and midsize enterprises (SMEs) and micro, small, and midsize enterprises (MSMEs) face a significant gap in value-added per worker compared to their larger peers. Small-business productivity is half that of larger firms, according to a 2024 study by the McKinsey Global Institute (MGI).
BTG Pactual Empresas Q&A: Leveling The Playing Field
Gabriel Motomura, partner and co-head of BTG Pactual Empresas, and Rogério Stallone, BTG Pactual corporate credit partner and co-head of BTG Empresas, discuss democratizing offerings. Global Finance: As our Best Global Bank for SMEs, how have you been helping your small and mid-sized enterprise clients navigate this year’s on-again, off-again tariff environment? Gabriel Motomura: We’ve been addressing this in two main ways. First, by helping our clients manage FX volatility.
Developers: Trust But Verify
Despite its broad adoption, AI raises questions amongst the coding community. Artificial intelligence has gone from a novelty to widespread adoption among software developers, with 90% of developers using the technology in their workflows, up 14% from a year earlier, according to a study by Google Cloud’s DevOps Research and Assessment (DORA) team. However, the same study finds a trust gap with the technology.
Developers On AI: Trust But Verify
Despite its broad adoption, AI raises questions among the coding community. Artificial intelligence has gone from a novelty to widespread adoption among software developers, with 90% of developers using the technology in their workflows, up 14% from a year earlier, according to a study by Google Cloud’s DevOps Research and Assessment (DORA) team. However, the same study finds a trust gap with the technology.
Tyler makes history at Deni Bowling Club Original
A little slice of local bowls history was created on Saturday when 13 year-old Tyler Hillier became the youngest player ever to represent the Deniliquin Bowling Club in the Division 1 pennant competition. Hold tight - we’re checking permissions before loading more content The Division 1 team claimed an excellent win against Kyabram, 50 shots to 47, despite losing in two of the three rinks.
Close wins in midweek games Original
The Deniliquin Bowling Club midweek pennant sides both recorded hard-fought wins on Tuesday. Hold tight - we’re checking permissions before loading more content Division 1 finally opened their account for the season when they claimed a solid 68-57 victory against Rich River. Despite Mark Quor’s rink being defeated 22 shots to 25, the other two combinations did enough to make sure of the overall victory.
Div 3 secure at the top Original
The Deniliquin Bowling Club’s Midweek Pennant Division 1 side is still yet to claim a win for the year after they were defeated by Echuca, 56-74, on Tuesday. Hold tight - we’re checking permissions before loading more content Chris Taylor, Peter Todd, Jo Bovell and Paul Clear (skip) had a strong 24-20 victory, but Mark Quor’s rink was beaten 17 shots to 23, while Steve O’Brien’s side suffered a 15-31 defeat.
World's Best Banks 2025 - Global Winners
Global Finance presents its 32nd annual list of the best banks worldwide. If one word described the global economy in 2024, it would be “resilient.” Growth was up slightly, with global GDP growth hovering around 3.1%, while the pace of global inflation slowed to approximately 5.8% from 6.8% the previous year, according to the International Monetary Fund.
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