Iran’s deputy secretary of the Supreme National Security Council, Bagheri, said progress in talks depends on the United States stopping excessive demands. He warned Iran will not allow its national security to be threatened via the Strait of Hormuz and described the U.S. stance as belonging to a "barbaric era."

Federal Reserve Governor COOK said it may take a long time to see structural changes in the economy brought by artificial intelligence (AI).

Several trust companies have recently increased fees for channel business, with some firms implementing marked hikes. Sources say the moves respond to regulatory guidance to rein in excessive intermediation and to firms’ scale-control and commercial-sustainability needs. A representative of a roughly 100 billion yuan trust firm said some large, channel-heavy trusts are reducing related business voluntarily or under scale limits; several firms are using higher channel fees to compel bank wealth managers to cut cooperation so they can shrink scale while keeping revenue broadly unchanged. Industry average channel fees have risen from about 1 bp to roughly 2 bps. Multiple trust-company sources report that business shed by firms tightening scale control is being absorbed by others, and several trusts are actively seeking access/qualification to manage outsourced business from bank wealth-management firms to enter cooperation whitelists.