Good morning, you're tuned in to Markets Desk.
HSBC kicked off the session with third-quarter pretax profit landing right in line with analyst estimates, the beat driven by a meaningful lift in net interest income. The London-listed banking giant continues to benefit from the higher-for-longer rate environment, and the inline print should keep institutional holders comfortable heading into year-end.
Shifting to the private markets, Anthropic's unusual corporate structure is drawing renewed scrutiny as investor interest in the AI company intensifies. As a Public Benefit Corporation, Anthropic carries legal obligations beyond pure shareholder return, meaning fiduciary duty competes with a stated social mission. For prospective investors, that distinction is not cosmetic — it can meaningfully shape governance, capital allocation, and exit dynamics.
And in crypto markets, RedotPay is reportedly weighing a confidential IPO filing in the United States before year-end, according to Bloomberg. The stablecoin payments company had previously pushed back on reports suggesting its US listing was off track. A confidential filing would give the company flexibility to gauge regulatory appetite without full public exposure — a familiar playbook in uncertain listing conditions.
That's the tape. Markets Desk, signing off the floor.
