The top 3 stories from today's briefing, narrated as a short audio episode.
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Briefing Notes
Capital Markets
Shein prices its Hong Kong IPO at a ~$27bn valuation, roughly a quarter of its 2022 peak, after failed listing attempts in New York and London
Closing the de minimis loophole made Shein's business model a regulatory target, not just a competitive one.
International
Five charts show how the US-Canada trade war has cost Ontario tens of thousands of manufacturing jobs and pushed Canada's effective US tariff rate above Mexico's
Canada's tariff rate now exceeds Mexico's, dismantling a trading relationship built over three decades in under two years.
Regulation
FCA publishes Primary Market Bulletin 65, launching an equity consolidated tape consultation and an interim market-data tool for UK equity markets
A UK consolidated tape could reframe London's liquidity story for global asset managers who currently underestimate it.