By John McCrank NEW YORK (Reuters) – Restricting the flow of U.S. capital to China would have a “devastating” impact on global markets, the head of index provider MSCI Inc (N:) told CNBC on Friday. “If that happens, then we’re going to have a world in which the fuel that lubricates economic growth and prosperity in the world is cut off, the oxygen gets cut off, and therefore you end up with a global economy that is significantly smaller than we have today,” said MSCI Chief Executive Officer Henry Fernandez.…
Category: Stock Market
EU report to lay out options for development financing overhaul: sources By Reuters
© Reuters. EU report to lay out options for development financing overhaul: sources By Marc Jones and Jan Strupczewski LONDON/BRUSSELS (Reuters) – A European Union review of how to deploy the bloc’s international lending firepower will be delivered to finance ministers next week, sources have told Reuters, with three options for a major overhaul of its current set-up. The report by a “wise persons” group led by former senior EU official Thomas Wieser proposes ways to build a more effective EU development bank that also cuts the current overlap between…
Nasdaq cracks down on IPOs of small Chinese companies By Reuters
© Reuters. FILE PHOTO: A woman walks past the Nasdaq MarketSite in New York’s Times Square By Echo Wang and Joshua Franklin (Reuters) – Nasdaq Inc (O:) is cracking down on initial public offerings (IPOs) 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. The…
Record U.S. tariff award over Airbus aid could fuel trade tensions By Reuters
© Reuters. Record U.S. tariff award over Airbus aid could fuel trade tensions By Philip Blenkinsop and Tim Hepher BRUSSELS/PARIS (Reuters) – 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. The World Trade Organization (WTO) has found that both European planemaker Airbus and its U.S. rival Boeing (NYSE:) received billions of dollars of illegal subsidies in a pair of…
SoftBank seeks help from its COO to turn WeWork around: Bloomberg By Reuters
(Reuters) – Japan’s SoftBank Group Corp (T:) is seeking the help of its chief operating officer, Marcelo Claure, to turn around WeWork, Bloomberg reported on Friday. Claure, who is also the former chief executive of Sprint Corp (N:) and remains its executive chairman, has been asked by SoftBank Chief Masayoshi Son to take a “more hands-on role” at WeWork, according to the report, which cited people familiar with the matter. Claure will help WeWork’s new leadership identify revenue and cost-saving opportunities, Bloomberg reported, adding that a decision on his exact…