Global Markets Cool as Cyber Breaches, Governance Scandals, and Major Policy Shifts Unfold | Integrity Ledger

Welcome to The Integrity Ledger — A hidden threat hits major banks, retail sales collapse, and crypto derivatives explode on day one. This may be the markets’ biggest turning point yet.

U.S. retail sales increased just 0.2% in September, falling short of the 0.4% forecast as consumer spending on discretionary goods declined. Core retail sales, excluding autos, gasoline, building materials, and food services, fell 0.1%, signalling a deceleration in consumer momentum. Higher energy prices pushed producer inflation up 0.3%, with energy costs surging 3.5%, intensifying concerns about tariff-driven inflation and recession risks.

The slowdown in retail sales amid rising inflation and a cooling labor market suggests consumers are tightening budgets, especially on nonessential goods. This softening consumer demand, coupled with persistent input cost pressures from tariffs and energy, may complicate monetary policy decisions and weigh on economic growth as 2025 approaches.

The Economic Times

Nvidia surpassed earnings expectations while New York Fed President John Williams signaled increased odds of a December rate cut, now above 75%. Despite these positives, U.S. indexes including the S&P 500, Nasdaq, and Dow Jones closed lower amid concerns over a potential AI bubble and the near depletion of the reverse repo facility. Key events this week include U.S. retail sales and PPI data, the Fed’s Beige Book, jobless claims, and a potential Russia-Ukraine peace agreement.

Investors should monitor the reverse repo facility's depletion and rising repo demand, which could prompt a Fed reassessment of quantitative tightening to avoid systemic risks. Geopolitical developments in the Russia-Ukraine conflict remain critical, as progress could boost risk assets but pressure gold and oil prices. Economic indicators this week will provide further clarity on the Fed’s policy trajectory amid mixed market sentiment.

Forexlive

Alimentation Couche-Tard Inc. shares rose nearly 5% after reporting adjusted earnings of 78 cents per share for the quarter ended October 12, beating analyst estimates of 75 cents. CEO Alex Miller highlighted active deal engagement across Canada, Europe, and the US, signaling ongoing acquisition interest despite ending talks with Seven & i Holdings Co. Revenue reached $17.9 billion with same-store merchandise sales, especially food and beverages, increasing in all regions.

The earnings beat and CEO's acquisition signals may boost investor confidence and support stock momentum. Continued focus on deal flow and strong same-store sales could drive future growth, while operational improvements may enhance valuation multiples.

Financial Post

On November 24, 2025, Singapore Exchange (SGX) launched Bitcoin and Ethereum perpetual futures, trading nearly 2,000 contracts valued at approximately $35 million on the first day. The offering attracted substantial institutional involvement, supported by major clearing members, and closed with open interest of 58 contracts valued around $1 million. This marks a significant integration of crypto derivatives into regulated financial markets, enhancing institutional access and oversight.

SGX's introduction of centrally cleared crypto futures is expected to increase institutional confidence in digital assets, providing a regulated alternative to offshore trading. The development could improve market liquidity and set a precedent for greater regulatory acceptance of cryptocurrency derivatives in Asia and beyond.

Bitcoin Ethereum News

Usio, Inc. completed an all-stock acquisition of PostCredit, Co, gaining a modern AI-powered expense-management and business-banking platform originally designed for film productions. The acquisition enables Usio to integrate these capabilities into its payment acceptance, ACH, real-time payments, and card issuing infrastructure, broadening its fintech service offerings to a wider business market.

The combined platform will deliver an integrated business-banking solution with corporate cards, accounts payable and receivable features, and accounting software integrations. This expands Usio's potential client base beyond entertainment, challenging incumbents like Stripe and Ramp. Businesses can expect streamlined expense management and enhanced real-time financial controls through one unified system.

Benzinga

Behavox has secured ISO/IEC 42001:2023 certification, the first international standard for Artificial Intelligence Management Systems (AIMS), reinforcing its commitment to responsible and transparent AI governance. The certification validates Behavox’s AI management across its ecosystem, including its Quantum platform used by major financial institutions. This positions Behavox among the first RegTech firms worldwide to formalize AI governance aligned with global compliance standards.

The certification enhances client confidence in deploying AI solutions that meet rigorous ethical and regulatory standards. It sets a benchmark for AI governance within financial services and other regulated sectors, encouraging industry-wide adoption of responsible AI practices. Customers can leverage Behavox’s certified services to better support their own compliance frameworks amid evolving AI regulations.

Financial Post

A cyberattack on technology vendor SitusAMC in November may have compromised client data related to major U.S. banks including JPMorgan Chase, Citigroup, and Morgan Stanley. The New York-based real estate services firm acknowledged system breaches but has not specified affected institutions. Federal authorities, including the FBI, are investigating, with no reported disruptions to banking operations.

This breach underscores risks in third-party service providers handling sensitive financial data, prompting banks and investors to reassess cybersecurity protocols. Continued monitoring and forensic analysis will be crucial to understanding exposure and safeguarding client information in real estate and financial sectors.

Benzinga

Performance Shipping Inc. reported a net income of $3.9 million in Q3 2025, down from $12.4 million in the same period last year, driven by lower time-charter equivalent rates and vessel downtime. Revenue for the quarter totaled $18.5 million, with fleetwide average TCE rates declining to $29,460 per day from $34,307 in Q3 2024. For the nine months ended September 30, 2025, net income rose to $42.4 million, up from $34.0 million a year prior.

The company’s recent acquisitions of two eco-design Suezmax tankers and secured long-term charters enhance cash flow visibility, lifting fixed charter coverage to 70% for 2026. Supported by a $100 million Nordic bond issuance and a $212 million cash position, Performance Shipping is well-positioned to fund fleet expansion amid firm tanker market fundamentals and expected stable demand for seaborne oil transport.

Benzinga

FBI Director Kash Patel and Homeland Security Secretary Kristi Noem have come under criticism for extensive use of taxpayer funds on private jet travel and high-profile events, including the Formula 1 race in Las Vegas. Noem's new jets cost taxpayers nearly $200 million, while Patel reportedly ordered a SWAT team to protect his girlfriend and has frequently flown between Washington, Las Vegas, and Nashville on government aircraft. Their travel expenses raise concerns amid a recent government shutdown that emphasized federal worker accountability.

These revelations highlight ongoing scrutiny over federal officials' use of public resources, potentially prompting calls for tighter oversight of travel expenditures. For taxpayers and policymakers, addressing such spending could influence future budget allocations and reinforce ethical standards in government operations.

Dailykos

A Singapore court dismissed Standard Chartered's attempt to strike out a $2.7 billion lawsuit alleging the bank's role in the 1MDB fraud, clearing the way for liquidators to pursue recovery efforts. The case accuses the bank of facilitating fraudulent transactions that caused extensive financial losses linked to Malaysia's sovereign wealth fund. Standard Chartered intends to appeal, maintaining the claims are without merit.

The court's decision advances global efforts to recover misappropriated 1MDB funds, underscoring banks’ scrutiny in anti-money laundering compliance. Financial institutions involved in similar probes may face increased regulatory and legal risks as authorities intensify enforcement actions.

Channel Newsasia

Ukraine has agreed to the framework of a US-drafted peace deal with Russia, though President Zelensky notes unresolved issues remain. The plan involves Ukraine limiting its armed forces, abandoning NATO ambitions, and conceding parts of Donbas, which Zelensky has consistently opposed. EU leaders warn against any agreement weakening Ukraine's defense or altering borders by force.

Zee News

Ukrainian President Volodymyr Zelensky seeks to meet President Trump over Thanksgiving to finalize a new joint peace agreement, focusing on territorial concessions and legally binding security guarantees. The deal has been revised from an initial 28-point U.S. plan to 19 points more acceptable to Ukraine, aiming to end the war amid ongoing Russian attacks.

Axios

The U.S. imposed visa restrictions on Fritz Alphonse Jean, a member of Haiti’s transitional presidential council, accusing him of supporting gangs that control 90% of the capital. Jean rejected the accusations, emphasizing the council’s efforts against corruption and gangs amid delayed elections and rising violence. The sanctions may deepen Haiti's political instability.

Apnews

Chinese Foreign Ministry spokesperson Mao Ning claimed Zangnan (Arunachal Pradesh) as Chinese territory after Indian citizen Prema Wangjom Thongdok was reportedly mistreated while transiting through Shanghai with a valid Indian passport. Arunachal CM Pema Khandu strongly condemned the incident, highlighting ongoing border tensions between China and India.

The Economic Times

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— The Integrity Ledger Team