The envisaged revisions would reduce the number of data points across the EU’s harmonised reporting system by about 50% and strengthen proportionality

International News via Reuters:

The European Banking Authority (EBA) on Friday announced a series of measures to significantly simplify supervisory data reporting and reduce the reporting burden for EU banks, and has also opened a public consultation on their implementation.

The move comes at a time when France and Germany have urged the European Commission to bring forward an ambitious “financial services simplification package” to make EU rules easier to navigate and less burdensome for firms.

The envisaged revisions would reduce the number of data points across the EU’s harmonised reporting system by about 50% and strengthen proportionality, particularly for small and non-complex institutions, the EBA said.

The revisions also aim to ensure that supervisory authorities continue to receive the information they need to fulfil their supervisory responsibilities, the EBA added.

A public consultation on revised implementing technical standards (ITS) on supervisory reporting and on supervisory benchmarking reporting is open until 10 July 2026, and until 10 May 2026 for international financial reporting standards 18-related requirements.

EU COORDINATION

EU-level reporting is often supplemented with national reporting requirements and ad hoc information requests by various public authorities.

However, these requests often lack coordination regardless of their relevance, the EBA said, adding that notable coordination initiatives, such as the European Central Bank’s single supervisory mechanism, do not cover the whole spectrum and all member states.

As a first step, the package includes an overview of national supervisory data collection and ongoing simplification efforts by competent authorities.

Separate EU-wide stress test and supervisory benchmarking data collection would be integrated into regular reporting, the EBA said.

This would reduce overlaps, increase consistency, simplify reporting processes and make requirements more stable over time, it added.

The proposed changes would apply from September 2027. In the meantime, the EBA will support implementation through close engagement with stakeholders via the public consultations, related hearings and a workshop.

Last month, the ECB said it aimed to simplify and speed up approvals for changes to banks’ internal credit risk models, easing a supervisory process that can delay capital benefits and trigger lengthy on-site inspections.

Reporting by Jesús Aguado. Editing by Jane Merriman and Janane Venkatraman

Citing government and industry sources, the paper said the German government would be willing to become a key customer of a combined company, part of a push to provide digital public services

International News via Reuters:

Artificial intelligence companies Cohere of Canada and Aleph Alpha of Germany are in talks to merge and have Berlin’s support for a potential deal, newspaper Handelsblatt reported late on Thursday.

Citing government and industry sources, the paper said the German government would be willing to become a key customer of a combined company, part of a push to provide digital public services.

“If leading AI companies from Canada and Germany were to join forces that would send a very strong signal,” German Digital Minister Karsten Wildberger told the paper.

Germany and Canada were already collaborating closely in the field, he was also quoted as saying.

Aleph Alpha told Reuters that regular discussions over strategic partnerships were standard practice in the AI industry and that Aleph Alpha had its own independent strategy, declining to comment further.

Cohere said it meets “with companies and institutions across Germany and Europe and continually evaluates strategic opportunities that support our global growth.”

It also pointed Reuters to its international expansion efforts as well as to the Canadian-German Sovereign Technology Alliance agreed this year, but would not comment further.

Germany’s research and digital ministries did not immediately respond to requests for comment.

Handelsblatt said merger talks started early this year and had reached an advanced stage, with plans for the new entity to be headquartered in both countries.

Germany has been eager to catch up with dominant AI players the U.S. and China in a global race to master a transformational technology and attract high-income jobs. India has also emerged as a contender.

Last month, Berlin unveiled plans to encourage investments to boost AI data processing capacity at least fourfold by 2030.

Microsoft, which is collaborating with Cohere, unveiled $23 billion in AI investments in December, with the bulk earmarked for India and parts for Canada.

That was after Alphabet’s Google said it would spend $15 billion over five years on an AI data centre in India.

Reporting by Ludwig Burger, Kirsti Knolle, Hakan Ersen and Andreas Rinke, Editing by Linda Pasquini and Kate Mayberry

Voters in Hungary could deliver a boon to bond investors, while Peru’s weekend polls will help determine the next step for its economy, the latest in a string of key elections worldwide this year

International News via Reuters:

Voters in Hungary could deliver a boon to bond investors, while Peru’s weekend polls will help determine the next step for its economy, the latest in a string of key elections worldwide this year.

Here’s a look at the races financial markets are watching most closely:

HUNGARY

Sunday elections in Hungary pose the biggest threat so far to nationalist Prime Minister Viktor Orban’s 16-year rule. Centre-right opposition party Tisza is leading in most polls.

Orban has cut taxes and hiked wages to placate voters in an economy where growth has lagged its neighbours. He has also angered much of Europe by blocking loans to Ukraine.

A win for Tisza’s Peter Magyar, investors say, could enable access to some of the 18 billion euros ($21 billion) of EU funding that has been frozen due to concerns over democratic standards.

Goldman Sachs economists say this would “likely lead to a notable appreciation of Hungarian assets.”

PERU

In Peru, two right-wing candidates lead the polls for Sunday’s first-round presidential election, but Bank of America said most contenders “do not seem to represent a major threat” to Peru’s orthodox economic model. Voters will also elect members of Congress.

The country has had eight presidents since 2018, after years of impeachments and corruption scandals, but growth in nearly all sectors has boosted the economy.

Bank of America warned that a chaotic election, like the 2021 race that was marred by turmoil and fraud allegations, could trigger capital flight.

If no candidate clears the 50% threshold, a second round is scheduled for June 7.

UNITED KINGDOM

Local elections don’t usually attract the attention of foreign investors but those in the UK on May 7 might well. Prime Minister Keir Starmer’s Labour Party is trailing the populist Reform UK and the left-wing Green Party in the polls and has struggled to deliver on promises to boost economic growth.

The bond market is especially sensitive to signs that the fiscally restrained Starmer might be replaced, while the pound could weaken.

The Iran war has dampened speculation that Starmer will be ousted soon. Still, online prediction market platform Polymarket gives a 56% chance of such a move by year-end. The next national election must be held by August 2029.

COLOMBIA

Colombia’s presidential race – the first round is scheduled for May 31 – remains open after divided results in March congressional elections.

Current leftist President Gustavo Petro has clashed with the central bank and sought to enact an economic emergency decree. Some investors have cheered the rising fortunes of centre-right candidate Paloma Valencia.

“We are inclined to hold a constructive view, as political conditions still support a swing toward pro-market policies,” Barclays economist Alejandro Arreaza said in a note.

ETHIOPIA AND ZAMBIA

Ethiopia and Zambia, which have both defaulted on their debt, hold summer elections, with the economy a top concern.

Investors have hailed Zambia’s economic reforms and growing copper production, while rising gold and coffee exports and foreign exchange reforms have boosted Ethiopia’s prospects.

Ethiopian Prime Minister Abiy Ahmed’s Prosperity Party is almost certain to win in June amid opposition boycotts and security concerns that could hinder voting.

Zambia’s incumbent President Hakainde Hichilema is also tipped to win in August, but energy and fertiliser price spikes related to the Iran war could hurt. Ratings agency S&P says the election poses a risk to policy continuity, just as the government’s fiscal consolidation efforts start to bear fruit.

ISRAEL

Parliamentary elections in Israel, expected in October, are viewed as a referendum on Prime Minister Benjamin Netanyahu.

Polling before the Iran war suggested that Netanyahu’s right-wing coalition would struggle to win enough seats to form a government, and polls showed the war in Iran has done little to improve his standing.

Israel’s economy had rebounded in 2025, and was expected to further improve in 2026, before the war began. The uncertainty could add to volatility in the shekel currency and government bonds.

BRAZIL

Brazil’s leftist President Luiz Inacio Lula da Silva is tied in an October race against right-wing senator Flavio Bolsonaro, the son of former President Jair Bolsonaro.

Seats in the lower house, two-thirds of the Senate and all 27 state governors are also up for grabs.

Inflation has moderated and joblessness hit a record low in December, but last year’s 2.3% economic growth was the weakest since the COVID pandemic, and household debt service is at its highest since the series began in 2011.

Oxford Economics’ Felipe Camargo said a centre-right government under Bolsonaro could yield a “goldilocks scenario for markets” including a focus on lowering inflation and reversing a growing debt-to-GDP ratio.

UNITED STATES

The November mid-term elections will determine who controls Congress and are shaping up as a major test for U.S. President Donald Trump.

Trump’s approval ratings have hit their lowest level ever, leaving his Republican Party at risk of losing its narrow majorities in Congress. Polls show sizable majorities of Americans are opposed to the war in the Middle East and frustrated by the rising cost of gasoline.

Analysts say uncertainty ahead of the vote could weigh on the dollar and stocks, although for now the election is likely to be overshadowed by Iran.

“If Trump wants a chance to get affordability back down, well in advance of the midterms… the timing is very tight,” said Grant Johnsey, head of market solutions at Northern Trust.

Reporting by Libby George and Dhara Ranasinghe; Editing by Karin Strohecker and Sharon Singleton

Kazakhs in March voted overwhelmingly in favour of adopting a new constitution to streamline the country’s parliament and recreate the office of vice president

International News via Reuters:

Kassym-Jomart Tokayev, the president of Kazakhstan, said on Friday that a parliamentary election in the resource-rich Central Asian country would take place in August, but stopped short of naming an exact date.

Kazakhs in March voted overwhelmingly in favour of adopting a new constitution to streamline the country’s parliament and recreate the office of vice president.

The changes also reduce the number of chambers in the parliament from two to one.

The new single-chamber parliament will be called the Kurultai, which means “gathering” in Kazakh and is a nod to the country’s steppe traditions. It will host 145 deputies elected for five-year terms.

The current parliament is due to dissolve itself on July 1.

Reporting by Mariya Gordeyeva; Writing by Lucy PapachristouEditing by Andrew Osborn

If all goes well, U.S. astronauts Reid Wiseman, Victor Glover and Christina Koch, along with Canadian astronaut Jeremy Hansen, will end up bobbing safely in the ocean aboard their Orion capsule

International News via Reuters:

The four Artemis II astronauts, returning from the world’s first crewed moon voyage in over half a century, hurtled back toward Earth on Friday aboard their gumdrop-shaped Orion spacecraft, headed for a splashdown in the Pacific Ocean off Southern California.

The finale to NASA’s celebrated 10-day mission was expected to begin with separation of Orion’s crew capsule from its service module, followed by a fiery re-entry through Earth’s atmosphere and a six-minute radio blackout before the capsule parachutes into the sea.

If all goes well, U.S. astronauts Reid Wiseman, Victor Glover and Christina Koch, along with Canadian astronaut Jeremy Hansen, will end up bobbing safely in the ocean aboard their Orion capsule, dubbed Integrity, shortly after 8 p.m. ET (0000 GMT) off the coast of San Diego.

The quartet blasted off from Cape Canaveral, Florida, on April 1, lofted into an initial Earth orbit by NASA’s giant Space Launch System rocket before sailing on around the far side of the moon, venturing deeper into space than any humans before them.

STEPPING STONE TO MARS

In so doing, they became the first astronauts to fly in the vicinity of the moon since the Apollo program of the 1960s and ’70s. Glover, Koch and Hansen also made history as the first Black astronaut, the first woman and first non-U.S. citizen, respectively, to take part in a lunar mission.

The voyage, following the uncrewed Artemis I test flight around the moon by the Orion spacecraft in 2022, marked a critical dress rehearsal for a planned attempt later this decade to land astronauts on the lunar surface for the first time since Apollo 17 in late 1972.

The ultimate goal of the Artemis program is to establish a long-term presence on the moon as a stepping stone to eventual human exploration of Mars.

In a historical parallel to the Cold War era of Apollo, the Artemis II mission has played out against a backdrop of political and social turmoil, including a U.S. military conflict that has proven unpopular at home.

For many in a global audience captivated by the latest moon shot, it reaffirmed the achievements of science and technology at a time when big tech has become widely distrusted, even feared. Opinion polling showed broad public support for the aims of the mission.

CRITICAL TEST OF HEAT SHIELD

The return to Earth will put the Orion spacecraft through a critical test of its heat shield, which sustained an unexpected level of scorching and stress on re-entry during the 2022 test flight. As a result, NASA engineers altered the descent trajectory for Artemis II in order to reduce heat buildup and lower the risk of the capsule burning up.

Still, with Orion plunging into the atmosphere at some 25,000 miles per hour (40,235 kph), temperatures outside the capsule are expected to soar to around 5,000 degrees Fahrenheit (2,760 degrees Celsius).

The recalibrated final descent path also has narrowed the size of the potential splashdown zone, limiting target landing options in case of foul weather at sea. NASA officials said on Thursday that forecasts for the preferred splashdown zone looked favorable.

Just as critical as the performance of the heat shield are several other factors, including achieving the spacecraft’s precise descent path and re-entry angle through a series of course-correction blasts of its jet guidance thrusters.

The last of three such jet propellant “burns” was scheduled for Friday afternoon, roughly five hours before splashdown.

Once the capsule hits the top of the atmosphere, it takes less than 15 minutes, including a six-minute radio blackout, before two sets of parachutes are deployed and the capsule floats into the sea.

NASA says it will take about another hour for recovery teams to secure Orion, hoist it onto a ship and assist the astronauts in exiting the capsule one by one.

At the flight’s peak, the crew reached a point 252,756 miles from Earth, exceeding the previous record of roughly 248,000 miles set in 1970 by the crew of Apollo 13.

Reporting by Steve Gorman in Los Angeles and Joey Roulette in Houston; Editing by Bill Berkrot

Lebanon faces a two-layered crisis, in which some markets have fully collapsed – especially in the south, where more than 80% of markets are no longer functioning – while those in Beirut are under increasing strain

International News via Reuters:

Lebanon is facing a food security crisis as the Iran war disrupts supplies of goods inside the country, the United Nations World Food Programme said on Friday.

A fragile two-week ceasefire between the U.S. and Iran showed further strain on Friday, a day before they are expected ​to negotiate in Pakistan, as Washington accused Tehran of breaching promises on the Strait of Hormuz and Israel struck Lebanon with attacks that Iran has ‌claimed violate the truce.

“What we’re witnessing is not just a displacement crisis, it is rapidly becoming a food security crisis,” said World Food Programme country director Allison Oman, speaking via video link from Beirut.

She warned that food was becoming increasingly unaffordable due to rising food prices and rising demand among displaced families.

Lebanon faces a two-layered crisis, in which some markets have fully collapsed – especially in the south, where more than 80% of markets are no longer functioning – while those in Beirut are under increasing strain, Oman said.

Many traders are reporting less than one week of essential food stocks remaining, she added.

The ability to deliver food aid into hard-to-reach areas in the south, which has faced heavy bombardment by Israeli airstrikes since March 2, was becoming increasingly difficult.

A WFP convoy that entered the south this week took over 15 hours, when it normally should have taken hours.

Reporting by Olivia Le Poidevin, Editing by Miranda Murray