The House of Representatives impeachment inquiry into President Donald Trumpover his request that a foreign power investigate a domestic political rival is set to intensify this week with testimony due from witnesses concerning allegations made by a whistleblower within the U.S. intelligence community. Congress is determined to get access to Trump’s calls with Russian President Vladimir Putin and other world leaders, the U.S. House Intelligence Committee’s chairman said on Sunday, citing concerns that the Republican president may have jeopardized national security.
Nasdaq is cracking down on initial public offerings of small Chinese companies by tightening restrictions and slowing down their approval, according to regulatory filings, corporate executives and investment bankers. Nasdaq’s attempt to limit these stock market flotations comes as a growing number of them end up raising most of the capital in their IPO from Chinese sources, rather than from U.S. investors.
Transatlantic trade ties face renewed disruption this week when global arbiters are expected to grant the United States a record award allowing it to hit European imports with billions of dollars of tariffs in a long-running aircraft subsidy dispute.
Fashion retailer Forever 21 filed for bankruptcy on Sunday, as it joined a growing list of brick-and-mortar players who have succumbed to the onslaught of e-commerce companies such as Amazon.com. The company plans to close most of its stores in Asia and Europe. However, it does not expect to exit any major markets in the United States.
British-based digital banking app Revolut is set to hire around 3,500 staff as it expands into 24 new markets thanks to a new global deal with payments giant Visa. The deal will see Revolut expand from its current markets of Europe and Australia to open in eight new countries including Brazil, Japan, Russia and the United States by the end of this year.
