Weekly Global News Wrap: Morgan Stanley caps $7b fund redemptions; StanChart eyes Bahrain wealth exit

And JPMorgan will launch AI agents later this year.

From Reuters:
Morgan Stanely has limited redemptions at its $7b private credit fund after investors sought to withdraw over a tenth of outstanding units, according to a regulatory filing.

North Haven Private Income Fund (PIF) said it would meet 43% of second‑quarter redemption requests after investors sought to withdraw about 10.9% of the fund in the prior quarter.

The fund said that ​about half of the latest requests came from investors who ​had been unable to fully cash out earlier.

From Reuters:
Standard Chartered is exploring the sale of its wealth and retail banking business in Bahrain.

Its corporate ​and investment banking operations in Bahrain ⁠are not affected by the move, the bank said.

From CNBC:
JPMorgan Chase plans to deploy artificial intelligence (AI) agents later in 2026.

AI agents are evolving from tools that complete single tasks to digital workers that manage workflows across multiple steps and disparate software programs, Derek Waldron, JPMorgan chief analytics officer, told CNBC.