| July 06, 2017 | "Irreverent, but never irrelevant" | | |  | John Lothian
Publisher
John Lothian News | |
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MarketsWiki Education World of Opportunity Top Videos
1. Donald Wilson, DRW Trading Group - Reminiscences (and Prognostications) of a Futures Operator
2. Blair Hull - Getting the Edge: Blackjack and the S&P 500
3. Haim Bodek, Decimus Capital Markets - A Flash Course on Market Structure
4. Peter Borish, The Quad Group - Trading Traps: Too Many to Count
5. Ray Cahnman, chairman, Transmarket Group - Me, Us & You: How Trading Works
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***** According to the number of plays on Youtube, here are the top videos from the MarketsWiki Education series through the years. The top videos were all big name traders, interestingly enough. The Blair Hull video was shot at a STAC conference, not the series, but was meant to be part of the same genre. Don't forget to sign up your interns or newer employees for the New York or Chicago events coming up the next two weeks. Sign up HERE
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EU hopes to win London's euro trading sunk by undersea cables; Fibre optic link critical to strength of forex centres, ECB study finds
Philip Stafford and Roger Blitz in London - FT
If Brussels has any intention of moving one of the City of London's trading jewels to continental Europe after Brexit, it will need to move mountains  or at least mountains of fibre optic cables.
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***** It is a don't know kind of day.
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Global Warming Might Be Speeding Up
By Eric Roston - Bloomberg
Two climate scientists suggest they've come closer to resolving a critical debate about how quickly human activity will heat up the planet. The answer isn't good news.
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***** I thought you might want some good news. I am still looking.
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Britain yet to face facts on Brexit, EU's Barnier warns; Consequences of UK leaving union are not fully understood, EU negotiator says
Alex Barker in Brussels - FT
Britain has yet to "face the facts" on the negative consequences of Brexit, the EU's chief negotiator has said, as he warned London that trade talks will not start until it is willing to make concessions on a financial settlement.
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***** There are those things you know, and those you don't know. Then there are those things you don't know you don't know, or even know that you need to know, but didn't.
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How to Dodge the Bonus Cap, and Other Perks for Firms Quitting London; U.K. financial firms shop for benefits in Europe as they choose post-Brexit homes
By Max Colchester and Julia-Ambra Verlaine - WSJ
Regulators and government officials across Europe are trying to lure London finance companies ahead of Brexit, sparking a continent-wide backroom bidding war.
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***** There are things you know you want and things you don't know you want. Then there are things you don't even know you want because you don't know they exist.
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Wednesday's Top Three
Our top three from yesterday starts with the story from Finance Feeds, Trading Technologies appeals legal decision in patent infringement case against Interactive Brokers, TradeStation. Next up is the Quartz article, Today's interconnected systems magnify simple human errors at frightening speed and scale. Third was an interesting video from the Financial Times, The Nasdaq glitch explained
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MarketsWiki Stats
103,899,086 pages viewed; 22,590 pages; 206,871 edits
MarketsWiki Statistics
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| Lead Stories | U.K. Regulator Seeks Brexit Bridge This Year to Avoid Cliff-Edge
By Silla Brush, Alexander Weber, and John Glover - Bloomberg
U.K. FCA's Bailey says 'regrettable' if firms feel in bind; Financial industry has called for time to adjust to new order
Banks and asset managers need certainty this year on how much time they'll have to transition to the post-Brexit world to avert "regrettable" decisions made in haste, according to Andrew Bailey, head of the U.K. Financial Conduct Authority.
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Barclays Chairman 'Confident' London's Euro-Clearing Hub Is Safe
By Stephen Morris and Anna Edwards - Bloomberg
Barclays Plc Chairman John McFarlane said he's confident much of the trading, clearing and fund-management activity involving the euro will remain centered in London, countering dire predictions of a mass exodus of bankers from Britain after Brexit.
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Erroneous Stock Prices Spread by Third-Party Vendors, Nasdaq Says
By Chris Dieterich - WSJ
Nasdaq Inc. said Wednesday that a "vendor reporting issue" was the the cause of erroneous data disseminated earlier this week that appeared to show wild price swings in two dozen securities, including widely held Apple and Microsoft.
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Commodity investors embrace algorithmic trading; Digitisation of sector levels the information playing field
Emiko Terazono - FT
As computer models and algorithmic programmes exert a greater influence on commodities prices, traders are trying to get to grips with the digital forces that are changing how raw materials are bought and sold.
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City of London calls for 'digital skills visa'; Business seeks to preserve UK's position as a financial technology hub after Brexit
Martin Arnold and Helen Warrell - FT
The City of London wants a new "digital skills visa" to shore up the UK's position as a financial technology hub against a growing threat from rival cities.
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Suspicious trades precede 19 percent of UK takeovers
Reuters
Suspicious share trading, which could indicate insider dealing, preceded 19 percent of UK takeover announcements in 2016, according to Britain's markets watchdog on Wednesday.
jlne.ws/2uLj9tv
Wild Wheat Swings Spurred by U.S. Drought Threat, Export Outlook
Sydney Maki and Jeff Wilson - Bloomberg
Spring wheat prices posted wide swings after reaching a four-year high as traders weighed prospects for an intensifying drought in the High Plains against signs that U.S. supplies aren't competitive in export markets.
jlne.ws/2uL3YjU
Fed ready to begin unwinding stimulus 'within months'
Sam Fleming - Financial Times
US Federal Reserve policymakers are ready to press ahead with the unwinding of its crisis-era economic stimulus programme within months, as they gear up to shrink the central bank's swollen balance sheet in spite of a spate of weak inflation readings.
jlne.ws/2uLkVKP
Traders Flee Nasdaq Power Market for Better Deals With Banks
By Jesper Starn - Bloomberg
Nasdaq's Nordic market trading drops 25% to lowest in decade; Rising cost of EU rules, new contracts fuel switch by users
Since the 1990s, Norwegian metals refiner Elkem AS routinely tapped the world's oldest power exchange in search of the best deals on the electricity supplies it needed to run five plants that make materials for everything from iPhones to body armor to solar panels. Not anymore.
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Libor Lied. Here's Why Replacing It Isn't Easy: QuickTake Q&A
By Liz McCormick - Bloomberg
The scandal-ridden London interbank offered rate, or Libor, may be on its last legs. After more than two years of study, a U.S. Federal Reserve-sponsored group on June 22 recommended replacing the interest-rate benchmark with one based on the bustling Treasury repurchase, or repo, market. That's where banks overnight exchange their U.S. Treasury bonds for cash, then buy the securities back the next day. The new rate eventually could be the benchmark for pricing some $300 trillion of U.S. derivatives, student loans, home mortgages and many other types of credit. It could take years to transition to the new rate from Libor, an integral part of the global financial system for decades but that turned out to have numerous vulnerabilities.
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Data, RegTech and a Compliance Ecosystem in the Cloud
Dayle Scher, TABB Group
Financial services risk and compliance officers are dealing with arguably the most demanding, most complex regulatory reporting requirements in history. While firms acknowledge they continue to struggle with data management issues, the evolution of regulatory technology and cloud capabilities is beginning to drive a more strategic vision of data within organizations and transform regulatory compliance workflows.
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| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | LME and the World Gold Council confirm LMEprecious launch on 10 July
LME
The London Metal Exchange (LME) and the World Gold Council have today confirmed that LMEprecious will launch on 10 July 2017, as planned. All preparations are now complete with regulatory go-ahead also received.
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Intercontinental Exchange Reports June Statistics; ICE ADV up 29% y/y driven by Financials ADV up 39% y/y and Energy ADV up 27% y/y; 2Q17 ADV up 28% y/y and Open Interest up 12% y/y
ICE
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today reported June 2017 trading volume and related revenue statistics.
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Class Action Filed
A securities class action was recently filed on behalf of investors that sold Allergan, Inc. (NYSE: AGN) call options, purchased Allergan put options and/or sold Allergan equity forward contracts during the period February 25, 2014 through April 21, 2014. The action arises from the 2014 attempted acquisition of Allergan by Valeant Pharmaceuticals International, Inc. and its affiliates, and alleges that that certain defendants traded on material non-public information regarding the proposed acquisition. For additional information regarding the recovery of potential losses in this matter, please see the following link:
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RECORD FUND LISTINGS ON LONDON STOCK EXCHANGE IN FIRST HALF OF 2017
London Stock Exchange Group
Listed funds and REITs raise £5bn initial and follow-on capital in H1 2017; 9 fund IPOs raise £1.4bn in H1 2017, five fold increase on H1 2016; Existing funds and REITs raise £3.6bn in further capital in H1 2017; US fund managers list funds worth over £3.5bn in London; London attracts growing numbers of international fund managers across diversified range of funds
London Stock Exchange today announces that nine fund IPOs have listed on its markets to date in 2017, raising £1.4 billion. London listed funds have also raised £3.6 billion in further capital in the first half of the year.
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CCP study raises concentration concerns
Helen Bartholomew - Reuters
Revised guidelines for the resilience, recovery and resolution of central counterparty clearinghouses were issued today by a group of regulatory committees as part of an effort to plug gaps in rules aimed at avoiding taxpayer bailouts of the systemically important firms
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National 4-H Council and CME Group Celebrate Fifth Year of Partnership, Commodity Carnival Arrives in 120 State and County Fairs
CME Group
CME Group, the world's leading and most diverse derivatives marketplace, and National 4-H Council mark five years of their popular and award-winning fair experience, Commodity Carnival, this summer. The interactive experience will visit 120 state and county fairs across nine states, teaching fair-going families the fundamentals of risk management in agriculture, and will also continue to be accessible beyond the fairgrounds through the mobile companion app, Risk Ranch.
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NMCE and ICEX to merge, creating India's third largest commodity exchange
The merged entity will offer a range of contracts including bullion, oil, rubber and other agri-commodities, besides the world's first diamond futures contract
Livemint
Mumbai: National Multi-Commodity Exchange (NMCE), India's first demutualized multi-commodities exchange, will merge with Indian Commodity Exchange (ICEX), a joint statement said on Monday.
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Bitcoin Bithumb: Top Ethereum Crypto Exchange Hacked
Robert Hackett - Fortune.com
Hackers have stolen user data and money from Bithumb, one of the top five biggest Ethereum and Bitcoin cryptocurrency exchanges, the company said Friday.
jlne.ws/2tNfe1L
NEX goes live with US electronic swaps platform; NEX SEF will facilitate electronic trading of non-deliverable forwards, and plans to expand into more FX products.
By Joe Parsons - The Trade
NEX Group has gone live with its US swaps execution facility (SEF), bringing the former ICAP company back on the scene for electronic FX swaps trading.
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Clearing houses get ultimatum to fix serious 'shortcomings'
By Huw Jones - Reuters
Global regulators warned on Wednesday of shortcomings in efforts to ensure that clearing houses can recover from a crisis without a meltdown in the financial system or a taxpayer bailout.
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| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | Chicago's FinTech Fizzle?
Collin Canright - FinTech Rising
Start with Crain's Chicago Business reporter Lynne Marek's excellent macro overview of Chicago tech leaders' failure to pull together a coordinated FinTech hub, "Chicago should be a FinTech hub. So why isn't it?" In terms of venture money, Chicago falls way short, as Marek and her colleague Joe Cahill point out.
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Major Financial Institutions Choose Droit for MiFID II Trade Engine
PRNewswire
Five of the world's leading financial institutions have committed to using Droit Financial Technologies ("Droit") as their choice for MiFID II trade compliance. The decision by BNP Paribas, Crédit Agricole CIB, Goldman Sachs, Lloyds and UBS represents a watershed in the industry search for a strategic solution in the run-up to the implementation of the new European regulations.
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Thomson Reuters Launches Startup Incubator
Mondovisione
Thomson Reuters today announced the launch of Thomson Reuters Labs - The Incubator. Located in Switzerland, the Incubator will host early-stage entrepreneurs building next-generation products in big data, advanced analytics, distributed ledgers, artificial intelligence, machine learning and other transformational technologies. As part of the official program, startups will receive access to Thomson Reuters world-class data and content sets, mentoring from experienced executives and networking opportunities for investment and commercialization.
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The 7 bank commitment to blockchain has many implications not just...
Finextra
Last week's announcement by the seven bank Digital Trade Chain Consortium is another strong indication that the "peak hype" discussions around blockchain are somewhat misplaced. This blockchain network, designed to deliver a trade finance solution across Europe to support small and medium businesses, stands out from the steady flow of other blockchain activity underway in several significant ways.
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One of the Biggest Ethereum and Bitcoin Exchanges Got Hacked
Robert Hackett - Fortune
Hackers have stolen user data and money from Bithumb, one of the top five biggest Ethereum and Bitcoin cryptocurrency exchanges, the company said Friday.
/goo.gl/C4tSrX
Intel, John McAfee settle lawsuits over antivirus pioneer's name
By Jonathan Stempel - Reuters
John McAfee, the creator of eponymous antivirus computer software, has settled a lawsuit against Intel Corp (INTC.O) over his right to use his name on other projects after the chipmaker bought his former company.
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Propy Creates First Peer-to-Peer Real Estate Exchange Platform using Ethereum Smart Contracts and Decentralized Title Registry; Propy Registry Opens $340 Billion Cross-Border Real Estate Market to Massive Disruption by Completing, Not Just Listing, Transactions on the Blockchain
Propy
Propy today announced plans for its global property store and decentralized title registry, created to put the $340 billion cross-border real estate market on the blockchain. The Propy Registry will solve the inefficiencies and illiquidity of current real estate investment with the first decentralized, global property store. Built on the Ethereum blockchain, the Propy Registry will rely on the PRO utility token to enable the development of a self-sustaining, cross border real estate ecosystem.
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| Politics | | An overview of politics as it relates to the financial markets | A Graceless President, a National Betrayal; Unlike Trump, Reagan understood the power of humility and graciousness.
By Cass R Sunstein - Bloomberg
For leaders as well as friends, spouses and colleagues, grace is a precious characteristic. Whatever one thinks of Donald Trump's policy choices, our nation has never had a president more lacking in grace.
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Donald Trump leaves Angela Merkel to stand up for liberal values; Germany remains relatively immune to the populist forces wracking other democracies
Edward Luce - FT
The leader of the free world will on Thursday host Donald Trump. It will be the third time Angela Merkel, Germany's chancellor, has met America's president. Let us hope it is third time lucky. On the previous two occasions Mr Trump berated Ms Merkel for Germany's trade surplus and presented her with a huge back-of-the-envelope bill for the money he claimed Germany owed for its defence. Mr Trump has alienated the leaders of many of America's allies. None brings a higher cost than the damage to US-German relations.
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NEX Chairman to Repay Company for $28,500 Political Donation
By David Hellier - Bloomberg
Decision comes ahead of NEX annual general meeting next week; Investor groups criticized company donations in U.K. election
The chairman of NEX Group Plc decided after pressure from shareholders to reimburse the electronic trading and financial technology company for the 25,000 pounds ($28,500) that it donated to five members of parliament contesting seats against Liberal Democrats in last month's U.K. election.
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| Regulation & Enforcement | | For more regulatory, visit MarketsReformWiki, our website focused on current market reform efforts. | FCA Reveals City Rife With Insider Trading And Market Abuse
By Mark Taylor - Law360
Insider trading and market abuse is rampant across London, the U.K. Financial Conduct Authority revealed Wednesday, warning firms that it will step up enforcement after determining that suspicious activity occurs in nearly one in every five deals.
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Commodities firms fear EBA's 'inappropriate' capital charges
Stella Farrington - Risk.net
European commodities firms have expressed concern that a new prudential regime for investment firms being designed by the European Banking Authority (EBA) will subject them to onerous and unnecessary capital and liquidity requirements.
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Markets break out in Mifid II sweat as new rules loom; Companies and investors are in a race to comply with a regulatory shake-up in Europe
Philip Stafford - FT
"The interest in this outside the EU is phenomenal," says James Roberts, director of European public policy at ISDA, the derivatives trade association. "Some people are just waking up to it."
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U.S. proposes cutting total biofuels requirements in 2018
By Chris Prentice, Jarrett Renshaw and David Shepardson - Reuters
The U.S. government on Wednesday proposed to reduce the volume of biofuel required to be used in gasoline and diesel fuel next year as it signaled the first step toward a potential broader overhaul of its biofuels program.
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What's New on the FSA Website
FSA Japan
This page contains the latest in events, developments, and updates to the FSA website.
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ESMA updates MAR Q&A
ESMA
The European Securities and Markets Authority (ESMA) has updated today its Questions & Answers (Q&A) document regarding the implementation of the Market Abuse Regulation (MAR).
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ESMA updates market size calculations for MiFID II ancillary test
ESMA
The European Securities and Markets Authority (ESMA) has updated today its opinion on MiFID II's ancillary test for commodity derivatives. The update corrects a typing error in the tables containing the estimations for the ancillary activity market size calculations.
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ESMA appoints new member to its Management Board
ESMA
The European Securities and Markets Authority (ESMA) has appointed a new member to its Management Board to replace an outgoing member whose mandate has ended. The appointment took place at the Board of Supervisors meeting in Paris on 5 July of:
Giuseppe Vegas, Commissione Nazionale per le Società e la Borsa (CONSOB), Italy
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Why free trade and open markets in financial services matter; Speech by Andrew Bailey, Chief Executive of the FCA, at Reuters Newsmaker event.
UK FCA
A lot can happen in a year. Last June, I was preparing to move to the FCA to take up the role of Chief Executive on 1 July. It was the week before I moved that I realised how much of my time in my new job would be taken up by Brexit.
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| Investing & Trading | | Today's top stories from equities, indices and FICC (fixed income, currencies and commodities) | Bond traders - Esma has plans for your Friday nights
Philip Stafford - FT
If you trade European sovereign debt you'd better get used to twiddling your thumbs on a Friday evening - or hope there's never any more crises.
/goo.gl/ZN6kb2
Bitcoin to $50,000 Is Latest Call From Prolific Stock Picker
Camila Russo - Bloomberg
Ronnie Moas, who for the past 13 years has made more than 900 stock recommendations via his one-man show at Standpoint Research, is now venturing into cryptocurrencies.
jlne.ws/2uLovF3
Energy Just Had Its Worst Start in 19 Years
Jodie Gunzberg - S&P Dow Jones Indices
Commodities just had their worst start in seven years. The S&P GSCI Total Return lost 10.2% year-to-date (YTD) ending June 30, 2017, logging its worst first half (H1) performance since the first six months of 2010 when it lost 11.2%.
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How to Protect Your Trades In a New Era of Central Bank Hawks
Sid Verma - Bloomberg
It begins.
The hawkish shift of rhetoric in recent weeks is increasing the odds that the next move of four of the world's five largest central banks will be to tighten monetary policy, setting the stage for an uptick in volatility in the second half of the year.
jlne.ws/2uLuIRh
Searing Heat Is Hurting Texas Wind Power
By Brian K Sullivan and Ryan Collins - Bloomberg
Temperatures in triple digits increase demand for electricity; Without wind, more costly gas and coal plants may fill void
Temperatures are soaring across Texas, and that's bad news for the state's wind power generators.
/goo.gl/RPtz2j
Adviser platforms have 'inherent conflict' - FCA; Will address issue in platform review
Tom Ellis - Professional Advisor
Adviser platforms suffer from an 'inherent conflict', the Financial Conduct Authority (FCA) has said in its Annual Competition Report.
/goo.gl/F5Y5Pe
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| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | Active Managers Take on Low Volatility, Helped by a Little Luck
James Mackintosh - WSJ
This was meant to be the year that active managers beat the index.
Depending on who made the prediction, that was supposed to be because of more dispersion between the best and worst stocks, or rising volatility, or because the correlations between stocks would break down.
Six months into the year and stock pickers have got only one out three.
jlne.ws/2uLuDNg
Barclays has hired KCG's European head of electronic trading
Sarah Butcher - eFinancialCareers
Barclays is on a roll. Fresh from hiring Asita Anche, Goldman Sachs' former quant trading star as head of a new cross-asset quantitative trading unit, it's now picked up a new head of electronic trading in Europe from Knight Capital Group in London.
jlne.ws/2uLfNXm
Deutsche Bank Makes Plans to Bolster Frankfurt Hub in London Retreat
By Donal Griffin , Ruth David , Steven Arons , and William Canny - Bloomberg
German bank would move assets booked in U.K. to home nation; Plan is response to both Brexit and investment bank overhaul
Deutsche Bank AG is preparing to move large parts of the trading and investment-banking assets it currently books in London to its hometown of Frankfurt in response to Britain's exit from the European Union, people familiar with the matter said.
/goo.gl/9NAabp
B. of A. warns the rise of ETFs is distorting the stock market
By Sue Chang - MarketWatch
The number of passive investors who trade stocks via exchange-traded funds has surged in recent years in what some see as a sign of a dysfunctional market in the making.
/goo.gl/7L8HHC
Goldman Sachs Eyes Spinoff of Simon, an Online Tool for Bond Sales; Bank soliciting investments that would value two-year-web app at $75 million
By Liz Hoffman - WSJ
Goldman Sachs Group GS 0.33% Inc. is seeking to sell a stake in Simon, its two-year-old web app that sells complex financial products to retail investors.
/goo.gl/KLZxer
Fed minutes suggest increasing tensions on inflation shortfall
Lindsay Dunsmuir and Jason Lange - Reuters
Federal Reserve policymakers were increasingly split on the outlook for inflation and how it might affect the future pace of interest rate rises, according to the minutes of the Fed's last policy meeting on June 13-14 released on Wednesday.
jlne.ws/2uLhhAP
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| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | Trump Meeting Putin Won't Make Russian Investments Great Again
Richard Barley - WSJ
Ever since the fall of the Soviet Union, the hope for investors on Russia has always been around change. Donald Trump's election raised expectations that a reset in relations could boost Russian assets. But as President Trump prepares for his first face-to-face meeting with Russian President Vladimir Putin this week, change seems in short supply.
jlne.ws/2tN0Zdw
Embracing the globalization of Chinese equities
Vania Pang - S&P Dow Jones Indices
For being the second largest capital market and the second largest economy in the world, China is underrepresented in most of the international benchmarks, which is unparalleled with its significance to the world economy. With increased access to the Chinese domestic equities market, one of the largest index compilers received broad support from international investors with whom they consulted and recently announced it would include China A-shares into its benchmark indexes.
jlne.ws/2uLpV2f
The Next Economic Powerhouse? Poland
Ruchir Sharma - NY Times
If getting rich is hard for individuals, it is harder still for nations. Of more than 190 countries tracked by the International Monetary Fund, fewer than 40 count as wealthy or advanced economies. The rest are known as emerging nations, and many of them have been emerging forever. The last large country to make it into the advanced class was South Korea, 20 years ago. The next major nation likely to join that club could be Poland, an under-the-radar economic star that President Trump will visit this week on his second overseas trip in office.
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Most S&P and Dow Jones Islamic Indices Outperform Conventional Benchmarks in 2017
Michael Orzano - S&P Dow Jones Indices
Most S&P and Dow Jones Shariah-compliant benchmarks outperformed their conventional counterparts year-to-date through June 28, 2017 as Financials - which are largely absent from Islamic indices - have lagged the broader market, and Information Technology and Health Care - which tend to be overweight in Islamic Indices - have been the two top performing sectors so far this year.
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Hong Kong Hedge Fund Thanks Short Sellers, Bets Against Them
By Taylor Hall - Bloomberg
Quam Asset Management buys shares of companies under scrutiny; Added to holdings of AAC Technologies and Man Wah Holdings
Jim Fong, portfolio manager at hedge fund Quam Asset Management Ltd., has something to say to the short sellers who have become increasingly active in Hong Kong's markets: Thank you.
/goo.gl/FVMf25
The Risky Business of Short Selling in Hong Kong; Some of the most heavily shorted Hong Kong stocks have ended up soaring this year
By Steven Russolillo - WSJ
Activist investors have been increasingly hunting for stocks to take on in Hong Kong. Yet the rest of the market isn't rushing to jump on board.
/goo.gl/1nkL3y
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| Brexit | | Financials stories regarding the decision of the United Kingdom to leave the European Union | Deutsche Bank Makes Plans to Bolster Frankfurt Hub in London Retreat
Donal Griffin, Ruth David, Steven Arons and William Canny - Bloomberg
Deutsche Bank AG is preparing to move large parts of the trading and investment-banking assets it currently books in London to its hometown of Frankfurt in response to Britain's exit from the European Union, people familiar with the matter said.
jlne.ws/2uLcfUW
Britain's finance industry faces 'tipping point' over Brexit
By Andrew MacAskill and Huw Jones |- Reuters
Britain will lose its status as Europe's top financial center unless it keeps borders open to specialist staff, improves infrastructure and expands links with emerging economies, TheCityUK said in a report published on Thursday.
/goo.gl/RVxz4e
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| Miscellaneous | | Stories that don't quite fit under the other sections | The Angst of Endangered CEOs: 'How Much Time Do I Have?'
Vanessa Fuhrmans and Joann S. Lublin - WSJ
The bosses of America's biggest and best-known companies are learning a common lesson this year: The pay is great, but job security has rarely been shakier.
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