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Briefing Notes
AI & Law
US newspaper publishers sue OpenAI and Microsoft for allegedly scraping hundreds of thousands of articles to train ChatGPT and Copilot, as Anthropic separately accuses Alibaba of using 25,000 fraudulent accounts to distil its Claude model
Publisher copyright suits against AI companies will resolve differently in UK law than under US fair use — London IP practices take note.
Banking & Finance
Ares caps withdrawals again at its flagship $23bn private credit fund as investor redemption pressure intensifies across the asset class
Repeated redemption gates expose the illiquidity mismatch private credit funds sold as a feature, not a bug.
Capital Markets
SpaceX joins the Russell 1000 on a fast-track IPO rule as Friday's reconstitution drives an estimated $150bn in Wall Street trading
Fast-track index entry rules reshape IPO timing strategy — listing date now determines when passive capital flows in.
Energy & Tech
IAEA chief confirms nuclear inspectors will access Iran's sites under the US-Iran interim peace deal, but Tehran disputes the scope of its commitments
A 60-day final-deal deadline turns every Iran-linked energy contract into a conditional instrument.
M&A
Bullish agrees to acquire UK-based financial services firm Equiniti for $4.2bn in cross-border fintech deal
Crypto platforms buying regulated UK infrastructure signals the licence, not the technology, is now the scarce asset.
Regulation
Binance vows to stay in Europe despite suffering a licence setback, as the world's largest crypto exchange navigates EU regulatory frameworks
MiCA's first contested licensing decisions will define the regulatory floor for crypto in Europe for a decade.
Disputes
Condé Nast wins UK intellectual property dispute over fraudulent Oscar party tickets sold using its brand
Event brand IP enforcement is now as commercially critical as product trade mark litigation for major media houses.
International
Eversheds steers £35m pension buy-in for the Royal Institute of British Architects with Pension Insurance Corp
Improved DB funding ratios have turned pension buy-ins from aspirational to executable across the UK mid-market.