FX markets saw JPY and EUR strengthen, with GBP and CHF posting mild gains and the Czech koruna notably stronger; the US dollar weakened broadly. Mid‑afternoon rates (15:56 CET): CZK/EUR 24.4734 (-0.088%), CZK/USD 20.9125 (-0.5303), USD/EUR 1.1703 (+0.4627); JPY/EUR 171.9770 (-0.0988), JPY/USD 146.9600 (-0.5539). #EUR #USD #FiatNews

Precious metals and energy showed divergent moves: gold recovered modestly (+0.15%) after yesterday’s drop, while silver fell 0.61%, platinum -1.49% and palladium -2.49%. Oil declined 1.24%, whereas natural gas jumped 3.66% on the day. #Gold #Oil #FiatNews

Global equity markets are mostly positive ahead of a high‑profile summit. In the US, the S&P 500 was up 0.12% and the Dow Jones rose 0.59%, while the Nasdaq slipped 0.11%. European bourses were mixed: CAC 40 +0.58%, DAX +0.01%, Euronext 100 +0.19% and FTSE 100 -0.23%. Markets are awaiting diplomatic developments. #S&P500 #DAX #FiatNews

Nu Holdings, the parent of Brazil’s Nu Bank, reported stronger-than-expected results for Q2 2025, reinforcing its position as one of the fastest-growing digital banks in South America. The company posted revenue of $3.668 billion, up 29% year‑on‑year, and net income of $637 million, a 31% rise that beat the analyst consensus of $622 million. Gross profit reached $1.55 billion. Shares rallied more than 11% in pre-market trading on the beat. Customer growth remained a primary driver: Nu reported about 123 million clients across its markets, including 107.3 million in Brazil (over 60% of the adult population), roughly 12 million in Mexico (13% of adults) and 3.4 million in Colombia (9% of adults). While revenue growth slowed from the prior quarter’s 40% to 29%, management maintained that momentum is intact and valuation sits around a 17x forward P/E. The loan portfolio expanded sharply: total loans under management reached $27.3 billion, up 44% year‑on‑year. Credit cards and unsecured loans account for more than 90% of the portfolio, while secured lending grew 229% year‑on‑year to $2.3 billion. These trends underpinned the company’s margin and profit gains for the quarter. Nu’s shares had traded largely sideways year‑to‑date despite strong fundamentals. Stagnation followed Q1 after Berkshire Hathaway, led by Warren Buffett, fully sold its stake, realizing about $250 million in gains. The sale reflected Berkshire’s broader strategy to shift out of financials into cash and short‑term Treasuries; observers also noted Buffett’s long‑standing aversion to cryptocurrencies, a product area Nu actively integrates into its services. #NuHoldings #NuBank #Brazil #FiatNews

Five charts published by Reuters highlight a growing fragility at the heart of the US economy despite a booming AI-led technology rally. While investment and market gains are concentrated in AI-related sectors, several underlying indicators point to stagnation and increasing imbalance in the broader economy. Inflation-adjusted investment in industries deemed "AI-sensitive" has risen 53% since end-2019, according to Troy Ludtka, chief U.S. economist at SMBC Nikko Securities; investment outside those sectors climbed just 0.3%. BlackRock analysts note that capital spending on software and IT equipment has never contributed more to U.S. GDP, even as aggregate capital expenditure across other parts of the economy fell in the first half of this year. Household demand is also weakening: personal consumption expenditures grew just 0.9% in Q2 — the slowest pace since the pandemic — and real consumer spending was flat in the first half of the year, a worrying sign given consumers comprise roughly 70% of U.S. GDP. Corporate distress is rising as well. S&P Global Market Intelligence reports monthly corporate bankruptcies in July were the highest since July 2020, and year-to-date filings through July were the largest seven-month total since 2010; nearly one-third of this year’s filings were in consumer goods and industrials. Market concentration on Wall Street has reached record levels. Chipmaker Nvidia alone represents about 8% of the S&P 500’s total market capitalization — a record share for a single stock — while the index’s top 10 stocks now account for roughly 40% of market cap and 30% of aggregate earnings. Reliance on a handful of companies raises the risk that broader market and economic performance could falter if those firms’ revenue or profit trends weaken. The Reuters analysis underscores that, excluding AI- and tech-driven spending and optimism, the foundations of the U.S. economy and equity market appear considerably more fragile than headline gains suggest. #AI #Nvidia #SP500 #USgdp #FiatNews

Prague ranked fourth safest European city for holiday travel, according to a new list compiled by British tour operator Riviera Travel and published by the Daily Mail. The safety index evaluated cities by current crime levels and their change over the past five years, placing Dubrovnik at number one for its very low crime rates and minimal recent increases. Dubrovnik’s appeal is tied to its well-preserved old town — a UNESCO World Heritage site — with Gothic, Renaissance and Baroque churches, palaces, squares and fountains. The Adriatic city is also popular with Czech tourists for day trips, beach access with views of the old town, and proximity to the Elaphiti Islands. Its recent fame as a filming location for the TV series Game of Thrones further boosts visitor numbers. Tallinn took second place, praised for its medieval old town (also UNESCO-listed), vibrant cafés, restaurants, churches and museums; the Estonian capital’s atmosphere makes it an easy add-on to trips to nearby Helsinki. Warsaw ranked third, noted for a mix of modern and historic architecture, strong gastronomy, and an old town famously rebuilt after World War II. Prague earned fourth place thanks to a strong safety score and its celebrated monuments and iconic bridges. The remainder of the top ten includes Kraków (5th), Amsterdam (6th), Munich (7th), Reykjavík (8th), Zurich (9th) and Budapest (10th). The ranking aims to guide travelers who prioritize safety alongside cultural and leisure attractions when choosing European holiday destinations. #Prague #Dubrovnik #Tallinn #Warsaw #FiatNews

China has paused orders of Nvidia’s H20 AI chips for major firms including Alibaba, Tencent and ByteDance as Beijing opened an investigation citing national security concerns, Bloomberg and The Information report. Regulators sent letters asking firms to justify H20 purchases and question reliance on foreign suppliers; some were told to suspend new H20 orders pending the probe. Nvidia said H20 "is not a military product nor for government infrastructure" and denied hidden backdoors. US lawmakers have proposed rules requiring security mechanisms and location verification in advanced AI chips. Analysts say the move underscores Beijing’s long-term push for chip self-sufficiency since US export controls in October 2022 and could give local players like Huawei more room, though SemiAnalysis notes Huawei still cannot meet all domestic demand. The probe’s duration is unclear; Washington has signaled potential further steps — President Trump said he is open to expanding export approvals beyond Nvidia and AMD and may allow a less-powerful version of Blackwell to be sold in China. #Nvidia #AIchips #China #FiatNews

15 Aug 2025 — European tech stocks tied to artificial intelligence fell as investors reassess their competitive advantage after the arrival of more powerful models. OpenAI’s GPT-5 (launched last week) and a finance-focused Claude app (launched 15 July) have prompted concerns that they could disrupt traditional software business models; Adobe was also hit by a rating cut from Melius Research on Monday. Since mid‑July, shares of LSEG, Sage and Capgemini have dropped 14.4%, 10.8% and 12.3% respectively; SAP is down 7.2% and recorded its largest one-day fall since late 2020. Broader indices rose over the same period (FTSE 100 +2.5%, STOXX 600 +0.6%), yet many European AI-linked stocks trade at high multiples (STOXX 600 P/E ~17x; SAP ~45x), leaving them vulnerable to negative news. Managers say firms with deeply embedded software or unique data (e.g., Experian) may be more insulated, but outcomes will vary. #AI #SAP #LSEG #FiatNews

Former St. Louis Fed president James Bullard, discussed as a potential Fed chair candidate, said he would accept the role if the objective were preserving the dollar’s value and Fed independence. He told CNBC that tariffs appear to have only a mild, one‑time impact on the price level and are unlikely to disrupt long-term progress toward 2% inflation. Bullard said the Fed will probably cut rates in September and once more this year, with further easing possible next year—about a 1 percentage-point total that would bring rates near neutral. He expects inflation to move toward 2% and unemployment around 4% under that scenario. #Fed #FiatNews

Rick Rieder of BlackRock told CNBC he believes the current investing backdrop is the best in history. He cited a large pool of cash outside markets, strong buybacks and low IPO supply as supporting demand for equities, and noted that bond markets also offer attractive yields. Rieder said valuation concerns are offset by companies’ ability to boost profitability—especially the Mag 7—and that long-term inflation expectations are around 2.5% with core inflation under 3%. He sees housing exerting disinflationary pressure and believes the Fed has room to cut rates; he also warned that productivity developments could lead to a sharp rate drop followed by a sudden rise in inflation. #BlackRock #FiatNews