| July 26, 2017 | "Irreverent, but never irrelevant" | | |  | John Lothian
Publisher
John Lothian News | |
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Are we seeing the end of Wall Street and the beginning of a new one?
Jim Kharouf, JLN
Silicon Valley icon, investor and entrepreneur Vinod Khosla told an audience last week at the Commonwealth Club of California that technological disruption is coming to most of the top industries in the United States. And while he didn't mention Wall Street, he could have.
"Citibank won't solve financial inclusion, Square will if anybody does it," he said. "Volkswagen and GM won't solve transportation. Whether it's Waymo or somebody else who does it, it will be a technology driven, non-institutional, 'let's break the rules,' radical kind of approach. This non-institutional way of doing things, though less predictable, is much more fun and exciting."
Now the trend is building that entrepreneurs are disrupting Wall Street - its investment banks, venture capital firms, brokerage, underwriting, exchanges and IPO listing structure. The big news yesterday out of the Securities and Exchange Commission was that offers and sales of digital assets by "virtual" organizations are subject to the requirements of the federal securities laws." The good news for firms looking to raise millions of dollars via cryptocurrency sales structures is that the SEC is open to the idea.
Read the rest of the article HERE
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Hits & Takes
By JLN Staff
The Fed's July meeting ends today. If you are looking for an update on what's coming up and what happened on central bank meetings, ICE has provided a nice preview and wrap-up here. It's also in our sponsored content box below.~JK
Also see Spencer Doar's blog providing some cryptocurrency context in light of LedgerX getting approval on Monday to clear cryptocurrency options. Check out Tales from the Crypt: What do Augur, Golem and Gnosis have in common? (Answer to the title: they're all cryptocurrencies you likely haven't heard of.) ~SD
And we have recently updated the LedgerX page on MarketsWiki, along with profile pages of some of the company's executives. You can check out the page and links to related pages here. ~SR
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After Trump Injects Politics Into Speech, Boy Scouts Face Blowback
Alan Binder and Mitch Smith - NY Times
The plan seemed mutually beneficial: President Trump would bask in an adulatory slice of Americana, and the Boy Scouts of America would host yet another sitting president at its national jamboree.
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***** Someone said it was the wrong speech at the wrong time to the wrong group, and I could not agree more. The Boy Scouts made a mistake in inviting him to speak, given his history of injecting politics into his speeches at inappropriate situations. Scouts are not supposed to be in uniform at political events. He turned a uniformed Scouting event into a political event, breaking the Scouts rules, causing the Scouts reputational harm. It is not what he said, it is that he said it there at all. ~JJL
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Asia-Pacific News from John Lothian News, July 25, 2017
JLN
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*****Day two of our Asia-Pacific news roundup.~JJL
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Tuesday's Top Three
Our top three stories yesterday were led by Reuters' LedgerX gets U.S. approval for derivatives on digital currencies. Second went to Trading Places' John Shay Out At NASDAQ. Third went to Business Insider's Some of the largest companies in the world are coming to the defense of the New York Stock Exchange
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MarketsWiki Stats
105,054,348 pages viewed; 22,624 pages; 207,231 edits
MarketsWiki Statistics
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| Sponsored Content |
Upcoming Fed Meeting: When and What to Watch
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| Lead Stories | SEC Issues Investigative Report Concluding DAO Tokens, a Digital Asset, Were Securities
SEC
The Securities and Exchange Commission issued an investigative report today cautioning market participants that offers and sales of digital assets by "virtual" organizations are subject to the requirements of the federal securities laws. Such offers and sales, conducted by organizations using distributed ledger or blockchain technology, have been referred to, among other things, as "Initial Coin Offerings" or "Token Sales." Whether a particular investment transaction involves the offer or sale of a security - regardless of the terminology or technology used - will depend on the facts and circumstances, including the economic realities of the transaction.
jlne.ws/2tHnJgc
CME Group to Develop Derivatives on Broad Treasuries Repo Financing Rate
CME
Following the Alternative Reference Rate Committee's (ARRC) recent recommendation that the broad Treasuries repo financing rate should serve as the reference rate in certain new U.S. dollar derivatives and other financial instruments, CME Group, the world's leading and most diverse derivatives marketplace, today announced that it will develop futures and options on the new benchmark.
Futures and options will launch, pending all regulatory reviews and approvals, after the Federal Reserve Bank of New York and the U.S. Treasury Office of Financial Research begin daily publication of the rate, expected in first half of 2018, and would be subject to the rules and regulations of the relevant exchanges at CME Group.
No link
LCH and Eurex clash over post-Brexit clearing costs
By Clare Dickinson - Financial News
Two of Europe's largest clearing houses have clashed over the costs of moving euro-clearing into the European Union once the UK has left the bloc.
/goo.gl/Cx6SW8
Digital Wall Street's New Home
By Tim Culpan - Bloomberg
The U.S. is about to lose its dominance in financial technology.While the world's most powerful nation continues to hold great influence over both the financial and technology sectors, combining the two will be the domain of Asia within the next few years.
/goo.gl/ot8aGv
Scaramucci's White House Role Raises Questions for Planned Sale of His Investment Firm; Decision over sale of SkyBridge Capital to China's HNA could ultimately be in the hands of his boss, President Trump
By Kate O'Keeffe and Michael C. Bender - WSJ
Anthony Scaramucci's appointment as White House communications director presents a sensitive situation for the planned sale of his investment company to a Chinese conglomerateÂa deal that is now under government review.
/goo.gl/RhvyXt
HNA Mystery Man Gives Away a Fortune and Raises Fresh Questions
Bloomberg News
Little-known investor Guan Jun unloads his big HNA stake; Conglomerate is trying to allay concerns about its ownership
Of all the mysteries surrounding HNA Group Co., one of China's most acquisitive companies, the 29 percent stake held by Guan Jun has been among the most puzzling.
/goo.gl/yZXPuh
The Fight for Euro Clearing After Brexit Spills Out in Public
By Will Hadfield - Bloomberg
LSE and Deutsche Boerse take shots at each other in London; Role of ECB perturbs LSE senior manager: 'fills me with fear'
The battle to control euro clearing once the U.K. leaves the European Union is getting uglier.
/goo.gl/FWQHqS
SEC Says It Will Patrol Red-Hot Virtual Coin Offerings; At issue is sector where more than $1 billion has been raised this year but which has been criticized for lacking standards
By Paul Vigna and Dave Michaels - WSJ
The Securities and Exchange Commission on Tuesday moved to restrain a hot new fundraising method involving sales of digital coins, saying rules meant for everyday stock sales may apply to these offerings, too.
/goo.gl/roCLqk
Citigroup Aims High With Profit, Capital-Return Targets; Investors push shares higher after bank sets sights on $60 billion in capital returns through 2020
By Telis Demos - WSJ
Citigroup Inc. C 2.92% led bank stocks higher Tuesday after telling investors it is aiming for $60 billion or more in capital returns to shareholders through 2020 and that it hopes in coming years to earn $20 billion annually.
/goo.gl/ktZjAZ
Libor Ruling Raises New Concerns for Deutsche Bank Trader Case
By Bob Van Voris - Bloomberg
Judge sees 'huge implications' in Rabobank traders' reversal; 'It's like we've sailed off the edge of the map,' judge says
BofA Says Bitcoin Needs Acceptance to Thrive But That's Unlikely
By Alexandria Arnold - Bloomberg
Key step for recognition is becoming pledgeable collateral; Firm considers bitcoin liquidity, safety and returns
Bank of America Merrill Lynch is looking past the increase in bitcoin trading volume to caution against a surge in optimism surrounding the digital currency.
/goo.gl/vXFjrs
Libor Ruling Raises New Concerns for Deutsche Bank Trader Case
Bloomberg
A U.S. judge said defense lawyers have a new opportunity to challenge charges against two former Deutsche Bank AG traders accused of rigging Libor after last week's appeals court ruling tossing out a similar case against ex-Rabobank Groep traders.
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Banking union will transform Europe's politics; Bail-in rules introduced five years ago have far-reaching consequences for the bloc
Martin Sandbu - FT
In our excitement over what is new, we often miss what is important. The election of Emmanuel Macron has triggered expectations of a Franco-German entente on further fiscal integration in the eurozone. Brexit has given new momentum to proposals for a multi-speed Europe.
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| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | NYSE American versus IEX
Frank Chaparro - Business Insider
The New York Stock Exchange is going all out in its effort to crush rival upstart IEX.
IEX, which gained exchange status last June, challenged the industry's status quo by introducing a 350-microsecond trading "speed bump." The idea has been controversial and was met with fierce opposition from established trading platforms  including the NYSE.
jlne.ws/2tI3tuL
London Metal Exchange to publish gold, silver reference prices within weeks
Straits Times
The London Metal Exchange (LME) will start publishing gold and silver reference prices, the exchange told Reuters on Tuesday, potentially challenging the dominance of benchmarks administered by Intercontinental Exchange (ICE).
/goo.gl/JDLVf3
NYSE Backs Rollback of Enron-era Rule Meant to Boost Accounting Quality; Growing call from business groups to scale back the rule which they have long opposed
By Dave Michaels - WSJ
The president of the New York Stock Exchange called Tuesday for lawmakers to scrap an Enron-era auditing rule intended to guard against accounting fraud.
/goo.gl/pECFGq
European derivatives exchanges update tech ahead of MiFID II; Exchanges across Europe have been forced to update their trading technology to incorporate MiFID II transparency requirements.
By Joe Parsons- The Trade
Euronext and Eurex are planning to update the technology used to support electronic trading ahead of the incoming MiFID II regulation in January.
/goo.gl/RD5xiB
Column: Time to OK Chinese investors' controversial Chicago Stock Exchange deal
Robert Reed - Chicago Tribune
The time has come for federal regulators to approve a small but highly controversial local business deal  the purchase of the Chicago Stock Exchange by Chinese-led investors.
/goo.gl/b2tk71
Adjustment of Digital China Structured Products and Futures
HKEX
Hong Kong Exchanges and Clearing Limited has announced the arrangements for the adjustment to Digital China Holdings Ltd (Digital China) structured products and futures to account for Digital China's rights issue.
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List of Choices by Mothers-listed Companies
JPX
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NSE to conduct live trading from disaster recovery site
The Times of India
The National Stock Exchange (NSE) today said it will conduct two-day live trading sessions starting on August 1 from its disaster recovery site in Chennai.
/goo.gl/1XrCK4
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| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | Cinnober: TigerEye Platform Now Available Through The Boat Oasis Platform
Press Release
Boat Services strengthens Cat Risk Modelling platform, with the integration of TigerEye, the industry leading pricing and portfolio management platform from Applied Insurance Technologies, a Subsidiary of TigerRisk Partners.
bit.ly/2uWV4n5
Quantitative Brokers Partners With TS for Premium Execution Algo
Business Wire
Quantitative Brokers (QB), an independent, global financial technology company providing advanced, dealer-neutral agency algorithms in Futures and US Cash Treasury markets has partnered with TS (formerly TradingScreen), a leading industry provider of electronic trading solutions, to integrate QB's premium multi-leg spread trading algorithm Legger on TS's TradeSmart platform.
/goo.gl/5QEjyT
TradingScreen integrates Quantitative Brokers' spread trading algo; Quantitative Brokers' algorithms were designed for fixed income and futures markets.
By Hayley McDowell - The Trade
TradingScreen (TS) is to integrate Quantitative Brokers' multi-leg spread trading algorithm onto its TradeSmart platform.
/goo.gl/fHsMzc
TRADEcast: Thomson Reuters, REDI and Leaders in Trading; Check out our latest podcast for the big stories.
By Editorial - The Trade
The editorial team discuss the latest news and the upcoming Leaders in Trading event in this week's TRADECast sponsored by Thomson Reuters.
/goo.gl/hezWpF
Some Bitcoin Backers Are Defecting to Create a Rival Currency
By NATHANIEL POPPER - NY Times
For the last two years, rival factions have been vying for control of the Bitcoin virtual currency and its global network of computers and supporters.
/goo.gl/L353KR
Bitcoin: Sequoia, Andreessen Back Cryptocurrency Hedge Fund
Jen Wieczner - Fortune.com
It's a hedge fund savvy enough to have scooped up Bitcoin when it was free. One of its founders is the well-known CEO of AngelList, Naval Ravikant. It's backed by a roster of Silicon Valley's top venture capital firms, and boasts returns of more than 500%. And you've probably never heard of it.
jlne.ws/2tDiBFM
Over half of fintech funding globally in Q2 went to Asia, thanks to Paytm deal
Ishita Russell - Dealstreetasia.com
Driven by a mega $1.4 billion-investment by Softbank, Asia surpassed the US to account for over half of the funding raised by venture-backed financial technology (fintech) firms in the second quarter of 2017.
/goo.gl/4TGFTT
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| Politics | | An overview of politics as it relates to the financial markets | Cohn and Yellen Are Among Trump's Contenders to Lead Fed
Kate Davidson - WSJ
President Donald Trump is considering renominating Janet Yellen as Federal Reserve chairwoman but also views his economic adviser Gary Cohn as a top candidate, he told The Wall Street Journal in an interview Tuesday.
jlne.ws/2tHVhuu
The Speech That Transformed European MarketsÂFive Years Later
Mike Bird and Christopher Whittall - WSJ
Five years ago, European Central Bank chief Mario Draghi took the stage in London to give the speech that ushered in the beginning of the end of the continent's sovereign-debt crisis.
jlne.ws/2tCSRJC
Politics Is Weird Right Now. Business Isn't.
Tyler Cowen - Bloomberg
In my admittedly subjective opinion, the third weirdest story on many days is still considerably stranger than what I am used to reading. For instance, Exxon Mobil Corp.'s breaking Russia sanctions while Secretary of State Rex Tillerson was chief executive hardly merits major mention.
jlne.ws/2tHGrEi
Scaramucci Seeks Federal Tax Break on SkyBridge Sale
By Bill Allison and Simone Foxman - Bloomberg
Agreement to sell firm came before he joined administration; Ex-government ethics chief says deal probably doesn't qualify
Anthony Scaramucci wants to put off a tax bill that could reach millions of dollars on the pending sale of his stake in SkyBridge Capital, according to people familiar with the matter. But the incoming White House communications director might have a problem.
/goo.gl/zy85gW
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| Regulation & Enforcement | | For more regulatory, visit MarketsReformWiki, our website focused on current market reform efforts. | MiFID II and Algorithmic Trading: What You Need to Know Now
Trading Technologies
MiFID II Delegated Regulation stipulates that algorithmic trading should refer to the automated optimization of order execution processes, in addition to the automatic generation of orders. This includes smart order routers (SORs) only in conjunction with the use of algorithms that determine parameters of the order beyond venue identification. It does not include automated order routers (AORs) where they only determine the venue without changing any other parameter of the order.
Utilization of such orders types, whether developed in-house or by a third-party, will warrant greater understanding by investment firms, who will be responsible for matters including prior testing, controlled deployment of algorithms to users, and the marketplace (access) and subsequent material changes. Firms will be required to ensure that the time of a material change, its nature, author and approver are recorded.
jlne.ws/2tGOCk9
The Long Arm of MiFID II, Part II: How Important Is Equity Market Equivalence? More Than We Thought
Gary Stone, Bloomberg Trading Solutions - TabbFORUM
Sixty-five percent of the stocks in the Nasdaq composite and 66% of the stocks in the NYSE composite could potentially be subject to MiFID II's trading obligation, according to Bloomberg analysis. This means that EU MiFID II investment firms would not be able to send their orders in these stocks to the U.S. market, unless the EC grants equivalence.
jlne.ws/2tHLt3B
It's Not How Much Banks Make But How They Make It
Bloomberg
Ever since the Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted in 2010 to avert a repeat of the 2008 financial crisis, endless debates have taken place about whether the law and its accompanying regulations are too hard on financial firms.
jlne.ws/2tDangE
Greece arrests Russian suspected of running $4 billion bitcoin laundering ring
Karolina Tagaris and Jack Stubbs - Reuters
Greek police arrested a Russian man suspected of running a money laundering operation involving turning $4 billion from illicit business activities into the digital currency bitcoin, they said on Wednesday.
/goo.gl/QkX6aQ
SEC Announces $2.5 Million Whistleblower Award
SEC
The Securities and Exchange Commission today announced an award of nearly $2.5 million to an employee of a domestic government agency whose whistleblower tip helped launch an SEC investigation and whose continued assistance enabled the SEC to address a company's misconduct.
/goo.gl/SBqwZe
As a British EU negotiator, I can tell you that Brexit is going to be far worse than anyone could have guessed
Steve Bullock - The Independent
The Government keeps saying it 'didn't realise' the problems, but they had the experts at Whitehall - they just refused to listen to them. Now we're facing a breakdown in airline safety, medicine, animal welfare, security, international aid and so much more
For anyone following Brexit developments, the last week should have shown that the level of complexity involved in Brexit is unprecedented. Ministers however seem to have inserted their heads firmly into the sand, hoping tricky problems will just go away.
/goo.gl/xzWgJJ
Salaries of NSE, BSE officials may be set as per Companies Act rules
LiveMint
Mumbai: The Securities and Exchange Board of India (Sebi) is looking to align the remuneration paid to directors and key management personnel at stock exchanges in line with provisions of the Companies Act, two people with direct knowledge of the matter said.
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| Investing & Trading | | Today's top stories from equities, indices and FICC (fixed income, currencies and commodities) | The Russell 2500 Index: Running the anchor leg
Mat Lystra, senior research analyst - FTSE Russell Blog
Carl Lewis is one of the most decorated track and field athletes in US history. At the 1984 Summer Olympics he tied Jesse Owens's 1936 record of four gold medals. One of Lewis's best events was the 4 x 100 meter relay where he ran the anchor leg. In a relay race, the anchor leg is the final of four 100 meter sprints and is typically run by the fastest member of the team. But should the fastest runner always go last? In track and field perhaps, but in the world of indexing a re-ordering of the line-up might just help you run a better race.
jlne.ws/2tHWXo4
Robert Soros is stepping down from his father's legendary fund to start his own venture
Rachael Levy and Reuters - Business Insider
Robert Soros, the eldest son of George Soros, is stepping down as deputy chairman and president of Soros Fund Management.
/goo.gl/tsDfTB
Bankers Ditch Fat Salaries to Chase Digital Currency Riches
By Lulu Yilun Chen and Camila Russo - Bloomberg
Dealmakers and financiers find second wind in cryptocurrency; 'There's so much to imagine,' ex-China Renaissance exec says
Richard Liu gave up a seven-figure salary this month to get into one of the hottest financial instruments around right now: initial coin offerings. The former China Renaissance deal-maker has since backed a clutch of cryptocoin sales that've raised millions -- sometimes in seconds -- often without a single product.
/goo.gl/rzx7Xr
Thursday Is the 'Day From Hell' for Europe's Stock Watchers
By Cat Rutter Pooley - Bloomberg
Consumer analysts bear brunt of Thursday's earnings onslaught; ABI, Nestle kick off day of reporting that ends with L'Oreal
If you think your Thursday looks bad, spare a thought for James Edwardes Jones. The RBC analyst is bracing for what he calls the busiest earnings day he's experienced in about 20 years covering the consumer-goods industry
/goo.gl/numHEF
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| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | Credit Suisse, Morgan Stanley Among Best Asia Trading Firms
Staff - Institutional Investor
The ability to provide liquidity and adapt to new technology set apart the winners from the losers in Institutional Investor's ranking of the region's best trading service providers.
jlne.ws/2tI06E5
Meet the Man Who Is Going to Run Vanguard
Barry Ritholtz - Bloomberg
Earlier this month, Vanguard Group Inc. said that William McNabb, chief executive officer and chairman, would step down as CEO at the start of 2018. McNabb, who will remain chairman and focus on international growth for the world's second-largest asset manager, will be succeeded by Tim Buckley.
jlne.ws/2tH2z1E
Jefferies just hired a former Goldman Sachs partner for a big trading role
Matt Turner - Business Insider
Jefferies has hired Peter Seccia, a former Goldman Sachs partner, as global head of equity derivatives.
/goo.gl/Vr15UF
Barclays Investment Bank Under Scrutiny as Stock Lags Rivals
By Stephen Morris and Sofia Horta E Costa - Bloomberg
CEO Staley awaits conclusion of whistle-blowing probe; U.K. lender to post second-quarter earnings on July 28
Barclays Plc's Jes Staley will strive to silence a chorus of skeptics when the lender reports second-quarter earnings on Friday.
/goo.gl/JCvqrJ
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| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | IPO Backed by Morgan Stanley and One of Asia's Richest Men Gets Denied; As Hong Kong reviews regulations, a firm's application to float shares gets a rare return to sender after being deemed 'substantially incomplete'
By Ese Erheriene and Gregor Stuart Hunter - WSJ
Hong Kong's stock exchange has rejected the application for a potentially multimillion-dollar listing involving one of Asia's richest men, as the cityÂa hot spot for initial public offeringsÂhas come under increasing regulatory scrutiny.
/goo.gl/fJoCMn
HNA unveils New York-based charity as controlling shareholder; Acquisitive Chinese investor's surprise revelation as lenders turn off taps
JOYCE HO, Nikkei
Acquisitive Chinese outbound investor HNA Group has openly disclosed its shareholding structure for the first time amid rising concerns that Beijing's deleveraging campaign might choke lending to the company which has largely fueled its expansion through debts and collateralization.
/goo.gl/M6Feue
HNA Mystery Man Gives Away a Fortune and Raises Fresh Questions
Bloomberg News
Little-known investor Guan Jun unloads his big HNA stake; Conglomerate is trying to allay concerns about its ownership
Of all the mysteries surrounding HNA Group Co., one of China's most acquisitive companies, the 29 percent stake held by Guan Jun has been among the most puzzling.
/goo.gl/yZXPuh
Australian Commodity Powerhouse Faces Post LNG Investment Slump
By Perry Williams and Michael Heath - Bloomberg
Completion of Gorgon project dampens West Australian outlook; Value of project investment falls to lowest level since 2008
The startup of Chevron Corp.'s mammoth $54 billion Gorgon gas export plant last year has left Western Australia grappling with a slowdown as a decade-long investment bonanza subsides.
/goo.gl/C493XL
Investors grapple with Indonesian rice scandal; Tiga Pilar denies fraud accusations after police raid warehouse
WATARU SUZUKI and ERWIDA MAULIA, Nikkei
Investors are scrambling to deal with a controversy over Indonesian food producer Tiga Pilar Sejahtera Food after police and government officials confiscated more than 1,000 tons of rice from its warehouse outside Jakarta, accusing the company of inflating prices by falsely labeling inexpensive rice as premium brands.
/goo.gl/GvHHXi
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| Brexit | | Financials stories regarding the decision of the United Kingdom to leave the European Union | Sovereign Wealth Funds 'Ring-Fence' U.K. Assets Ahead of Brexit
By Sarah Jones - Bloomberg
Northern Trust says 30%-40% want to segregate their assets; Asset management chief says Brexit will be 'tough' for economy
Northern Trust Asset Management's largest clients including sovereign wealth funds are separating their U.K. assets from their European and global portfolios as they await the outcome of Brexit.
/goo.gl/Kc83Kc
The great Brexit betrayal has begun. The Tories have sold out the British people - now even Jeremy Corbyn has a tougher stance
NIGEL FARAGE - Telegraph
When I heard that the government minister Lord Prior had told a meeting of tech and insurance leaders last week that they shouldn't worry about barriers to entry for future employees from the EU, I thought he'd gone too far. How could a Brexit administration elected on a promise of reducing net migration to the tens of thousands tolerate such behaviour? Surely Lord Prior would be sacked?
/goo.gl/tqRvXU
Even Immigrant Managers Fear Brexit These Days; U.K. businesses are struggling to replace the migrant workers who take on jobs Brits just don't want to do.
By Stephanie Baker - Bloomberg
When Gregory Migut landed a job at Traditional Norfolk Poultry last year, it was the latest step in his climb from near-penniless immigrant to middle-class manager, 12 years after he left his native Poland.
/goo.gl/uAYyBf
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| Miscellaneous | | Stories that don't quite fit under the other sections | After a series of ethereum hacks, BitBounce may use a bank vault to protect its ICO tokens
John Detrixhe and Joon Ian Wong - Quartz
After hackers looted $30 million worth of ether last week, a company planning to raise money with cryptoassets is turning to an old-fashioned solution to safeguard the funds: a bank vault. It highlights the difficulty of keeping even the most sophisticated new technology safe and secure.
jlne.ws/2tHGbFk
Ex-Wives and Kids' Schools: Digging for Dirt on Chinese Stocks Gets Personal
Gregor Stuart Hunter - WSJ
When it comes to learning more about Chinese stocks, for some investors there is no such thing as too much information. Fund managers have been looking for new ways to conduct due diligence on Chinese companies in which they invest, from deploying the latest machine-learning software to getting friendly with the ex-wives of directors.
jlne.ws/2tCXL9k
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Disclaimer: All John Lothian Newsletters, JohnLothianNews.com, MarketsWiki.com and MarketsReformWiki.com are products of John Lothian News, a division of John J. Lothian & Company, Inc. The opinions expressed in all John J. Lothian & Company, Inc. publications are strictly those of their respective editors. They are intended solely for informative purposes and are not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy or trade in any commodities or securities herein named. Information is obtained from sources believed to be reliable, but is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. Security futures are not suitable for all customers. Futures and options trading involve risk. Past results are no indication of future performance. Nothing on any John J. Lothian & Company site should be considered an endorsement by any sponsor of any website or newsletter content.
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