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☆ Stephen Mandel’s Lone Pine Capital reveals new stakes in AI-related power producers
▼ + stars: | 2024-05-17 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Lone Pine Capital made new bets on some high-performing power producers and one big streaming company in the first quarter, a new Securities and Exchange Commission filing shows. Lone Pine, founded by Stephen Mandel in 1997, added a $446.7 million position in Vistra Corp. and a $161.9 million stake in Constellation Energy in the first quarter. Lone Pine also added new positions in drug and medical supplies distributor McKesson and mobile tech company AppLovin , worth about $368 million and $300 million, respectively. The new additions came as Lone Pine significantly cut its holdings in three big tech companies: Meta Platforms, Taiwan Semiconductor and Amazon . Microsoft is Lone Pine's third-largest position, trailing Taiwan Semiconductor, which Lone Pine reduced by 11%.

Persons: Lone Pine, Stephen Mandel, Mandel, Mark Zuckerberg, Philip Morris, Julian Robertson Organizations: Lone Pine Capital, Securities and Exchange Commission, Vistra Corp, Constellation Energy, Constellation, Taiwan Semiconductor, Microsoft, Meta, Philip Morris International, UnitedHealth Group, GE Aerospace, GE, Cubs Locations: Lone, Vistra, U.S, Greenwich , Connecticut, Meta

☆ The Long, Strange Decline of One of America's Most Influential Brands
▼ + stars: | 2024-03-31 | by ( Amanda Chicago Lewis | ) www.businessinsider.com time to read: +39 min

What followed was hundreds of sequels and spinoffs, everything from "Chicken Soup for the Cat Lover's Soul" to "Chicken Soup for the Canadian Soul" to the bestseller I read cover to cover, several times, in sixth grade: "Chicken Soup for the Teenage Soul." By 2003, research found that more young readers seeking solace turned to the Chicken Soup series than to the Bible. What began as Chicken Soup for the Soul board games and calendars turned into Chicken Soup for the Soul chocolates and Chicken Soup for the Soul pet food. He pointed out that the cover of the original Chicken Soup book "ripped off" Campbell's Soup, to trigger "nourishing and comforting and warming" feelings. He started suggesting outrageous directions Chicken Soup could go in next: "The Chicken Soup pistol!

Persons: I'd, I've, who'd, John Wayne, Jack Canfield, Canfield, Oprah Winfrey, Tony Soprano's, Russ Kamalski, Laurel, Hardy, Tyler Le, Americus Reed, hadn't, he'd, Johnny Nunez, Getty, Clement Stone, Stone, Napoleon Hill's, Norman Vincent Peale's, Mark Victor Hansen, Hansen, Bennett Raglin, let's, Mark Twain, They're, they'd, Kamalski, Preteen's, Christian Woman's, Mother's, —, Wayne Booth, Booth, Barbara Ehrenreich, David Gray, Amy Poehler, Kenan Thompson's, Patty Aubery, I'm, I, blurbing, Bill Rouhana, Amy Newmark, Newmark, Rouhana, Winstar, Ashton Kutcher, Isaac Brekken, Kevin, Reddit, Chicken, Redbox, You've, We're, Kevin fumed, hicken, orth, ince, eason, rance, ike, osses, ives, ake Organizations: John, Hyatt Regency, Soul Entertainment, Nasdaq, Americus, Wharton, Hyatt, Harvard, Triple, Beverly, Hotel, Canfield, University of Chicago, Oklahoma State, Washington Post, Wall, Company, Connecticut —, NASCAR, Hollywood, Consumer Federation of America, CSSE, Hindenburg Research, Sony Pictures Television, GameStop, YouTube, Soup, ust, anfield Locations: Newport Beach , California, Indonesian, Crackle, Canfield, Nigeria, Japan, France, Ohio, West Virginia, Mali, New York, Anaheim, Florida, ,, Teacher's, Baltimore, China, Australian, Darfur, Southern California, Greenwich , Connecticut, Connecticut, Zillow, Canadian, Wells Fargo's, Redbox, ife

☆ The Long, Strange Decline of Iconic Chicken Soup for the Soul Brand
▼ + stars: | 2024-03-31 | by ( Amanda Chicago Lewis | ) www.businessinsider.com time to read: +39 min

What followed was hundreds of sequels and spinoffs, everything from "Chicken Soup for the Cat Lover's Soul" to "Chicken Soup for the Canadian Soul" to the bestseller I read cover to cover, several times, in sixth grade: "Chicken Soup for the Teenage Soul." What began as Chicken Soup for the Soul board games and calendars turned into Chicken Soup for the Soul chocolates and Chicken Soup for the Soul pet food. What began as Chicken Soup for the Soul board games and calendars turned into pet food, barbecue sauce, and — yes — soup. He pointed out that the cover of the original Chicken Soup book "ripped off" Campbell's Soup, to trigger "nourishing and comforting and warming" feelings. He started suggesting outrageous directions Chicken Soup could go in next: "The Chicken Soup pistol!

☆ China says it plans to boost these industries. Stocks to play the trend
▼ + stars: | 2024-03-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"MS' Economics team believes that the announced fiscal package is insufficient to boost the economy as fiscal package remains supply-centric," Wang said. "Policy support for developing advanced production capacity will lead to increased capex in associated value chains like the industrials and IT sectors," the HSBC analysts said. All four stocks are listed in Shenzhen: Inovance — as a seller of factory automation components, Inovance should "benefit from the recovery of the discrete automation market in 2024," the HSBC analysts said. The HSBC analysts expect Innolight to increase its sales of its most advanced product, and introduce an even better product in the fourth quarter. Sanqi Entertainment — HSBC analysts expect this gaming stock can nearly double to 36 yuan a share.

Persons: Steven Sun, Wu Qing, Morgan Stanley, Laura Wang, Wang, Xi Jinping, Michael Bloom Organizations: Beijing, Authorities, HSBC, Finance, Information, Inovance, Naura Tech, Sanqi Entertainment — HSBC Locations: China, HSBC China, Shanghai, Beijing, Chongqing —, Shenzhen

☆ We're debating buying Palo Alto's sharp post-earnings drop. Here's what we're considering
▼ + stars: | 2024-02-20 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Palo Alto Networks has been at the forefront of this trend because it's the best-of-breed in 21 categories. PANW 1Y mountain Palo Alto Networks 1 year However, we're not going to try to go in and out of Palo Alto. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Nikesh Arora, Palo Alto Networks Adam Galica | CNBC

Persons: billings, Nikesh Arora, Arora, We've, Jim Cramer, we're, –, I'm, Jim, Let's, Jim Cramer's, Galica Organizations: Palo Alto Networks, Revenue, LSEG, billings, Alto Networks, Securities and Exchange Commission, SEC, Palo, CNBC Locations: U.S, cybersecurity, billings, Palo, Palo Alto

☆ MSCI China Index: 66 stocks cut from benchmark amid stock market rout
▼ + stars: | 2024-02-14 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Global stock index compiler MSCI is deleting dozens of companies from its benchmark China Index, which could further exacerbate fund outflows from Chinese equities after a massive stock market rout. The index provider announced this week that it would drop 66 securities from the MSCI China Index, one of its flagship China indexes, as part of the company’s latest quarterly review. The MSCI China Index is the compiler’s key index tracking the Chinese stock market, covering about 85% of the total market capitalization of Chinese companies listed globally. On Monday, MSCI also announced changes to its other China-related indexes, including deleting dozens of stocks from MSCI China A Onshore indexes and MSCI China All Shares indexes. Hong Kong’s stock market reopened on Wednesday after a long holiday weekend, with the benchmark Hang Seng Index up 0.9%.

Persons: MSCI, ”, Luca Paolini, Hong Organizations: Hong Kong CNN — Global, Investors, Greentown China Holdings, Gemdale Corp, Uni, President, China Southern Airlines, Lufax Holdings, Genomics, Midea, MGI Tech, Management Locations: China, Hong Kong, Shanghai, Shenzhen, Fuyang, China's, Anhui, AFP, Hangzhou, President China, Beijing, Geneva, Mainland

☆ Xi just fired China's top markets regulator. It shows his focus is still on control above all else.
▼ + stars: | 2024-02-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChina's extended stock market rout was so bad that leader Xi Jinping was set to personally pay attention to it — and it looks like his solution was to fire the country's top markets regulatory late on Wednesday. After all, there were suggestions earlier that authorities are considering a stabilization fund to rescue the flailing stock market. Stock markets in China and Hong Kong have accelerated losses into 2024. The analysts at the Eurasia Group aren't the only ones who say China needs to double down on economic reforms to shore up its economy.

Persons: —, Xi Jinping, Wu Qing, Xi, Eswar Prasad, China's Organizations: Service, China Securities Regulatory, Bloomberg, Business, Eurasia Group, Eurasia Group aren't, Cornell University, International Monetary Fund, Nikkei, Index, Hong Kong Stock Exchange Locations: China, Hong Kong, Beijing

☆ Fidelity fund again trims Elon Musk’s X valuation
▼ + stars: | 2024-01-02 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

The latest disclosure by a Fidelity mutual fund reflects a long-running trend that has steadily reduced X’s estimated value over the past year amid successive crises at the company, many of which have been driven by owner Elon Musk. The filing said its shares in X represent less than .01% of the total value of the fund, which it said is more than $49 billion. Fidelity did slightly increase its estimated value of X multiple times last summer, around when Linda Yaccarino became X’s CEO. Since then, however, Fidelity has continued to cut the estimated value of its X shares. With X being privately held, Fidelity’s estimates have emerged as a closely watched indicator of X’s health and a reflection of the attitudes of Musk’s own investors.

Persons: Musk, Elon Musk, Fidelity’s, Linda Yaccarino Organizations: CNN, Investment, Fidelity, Twitter, Growth, Axios

☆ David Einhorn, who is trouncing the market this year, bought a small cap crude oil play
▼ + stars: | 2023-11-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

David Einhorn's Greenlight Capital made several bets in energy and health care during the third quarter, according to a new securities filing. That position was worth $65.2 million. Greenlight also bought up shares in biotech names Gain Therapeutics and Coya Therapeutics , increasing those stakes by 7.7% and 19.2%, respectively. The fund's largest position, homebuilding stock Green Brick Partners , was worth more than $512 million as of the end of September. Greenlight has soared past the broader market this year, returning 12.9% in the third quarter to bring its 2023 gains to more than 27%.

Persons: David Einhorn's, Einhorn, Russia's, Greenlight Organizations: Holdings, Securities, Exchange, Southwestern Energy, Consol Energy, Therapeutics, Coya Therapeutics, Green Brick Partners, Kyndryl Holdings Locations: Israel, Ukraine, U.S

☆ Trump's social media company has lost over $31 million since its launch, faces potential shutdown
▼ + stars: | 2023-11-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Truth Social is the alternative social media platform backed by former President Donald Trump, who posts on it several times a day. If the merger does not happen, the DWAC filing warned, TMTG might be unable to "fully develop" Truth Social. Trump returned to X in August, though he has said Truth Social is still his primary social media platform. Trump's presence on Truth Social started as a boon for the company but has now become a crutch. But even the former president's loyalty to Truth Social may not be enough to keep the platform afloat on its own.

Persons: TMTG, Donald Trump, DWAC, Devin Nunes, Nunes, Trump, Elon Musk Organizations: Trump Media, Technology Group, Truth, SEC, Securities and Exchange, Trump, Republican, DWAC, Twitter, Facebook, U.S . Capitol, Big Tech, Tesla

☆ How the Fed is using its multi-trillion-dollar balance sheet to fight inflation
▼ + stars: | 2023-10-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —The Fed’s fight against inflation is about to enter a new phase, but the central bank’s enormous balance sheet will continue to play a key role. The Fed also manages a multi-trillion-dollar balance sheet that accounts for trillions in government securities and lists how much currency is in circulation. For over a year now, the Fed has been steadily shrinking its balance sheet to help cool the economy. The Fed’s balance sheet is currently at around $7.9 trillion, down from its peak of $9 trillion in early 2022 right before the runoff. They also see alternative scenarios for the end of the balance sheet runoff if there isn’t a recession.

Persons: that’s, Lael Brainard, What’s, Wells, Jerome Powell, JPMorgan Chase’s Jamie Dimon, Jamie Dimon, Krystal Hur, Dimon —, Mr, Dimon, JPMorgan Chase, what’s, Estee Lauder, Kraft Heinz, Yum, Bausch, Eli Lilly, Molson Organizations: CNN Business, Bell, DC CNN, Congress, Fed, Wall Street, JPMorgan, JPMorgan Chase, CNN, HSBC, McDonald’s, China’s National Bureau of Statistics, Bank of Japan, Pfizer, Caterpillar, Marathon Petroleum, Sirius XM, Anheuser, Busch, BP, Chesapeake Energy, US Labor Department, Global, Board, CVS, GSK, Humana, Reuters, Apollo Global Management, Brands, Garmin, Cruise Line Holdings, Qualcomm, Airbnb, PayPal, MetLife, Aflac, AIG, Allstate, Prudential, P Global, Institute for Supply Management, Federal Reserve, ConocoPhillips, Starbucks, Duke Energy, Shopify, Ferrari, Marriott International, Moderna, Fox, Molson Coors, Hyatt, Apple, Motorola, Bank of England, Dominion Energy, Gartner, Restaurant Brands Locations: Washington, Treasuries, China’s, Mondelez, DoorDash, Avis, Shell, Cigna

☆ 10 Questions to Ask Yourself About Data Breaches
▼ + stars: | 2023-09-28 | by ( Betsy Morris | ) www.wsj.com time to read: 1 min

Deciding how to best protect a company, its shareholders and consumers raises some difficult questions. Illustration: Jon KrauseCorporate chief executives are under pressure to make sure their companies are secure from cyberattacks—or to minimize the damage if their data is breached by hackers. New Securities and Exchange Commission rules adopted in July, which require companies to disclose security breaches big enough to be material, further turned up the heat on executives.

Persons: Jon Krause Organizations: Jon Krause Corporate, New Securities, Exchange

☆ China Evergrande shares plummet after its debt restructuring plan runs into trouble
▼ + stars: | 2023-09-25 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Since defaulting, Evergrande has been trying to implement a government-supervised debt restructuring. The issuance of new securities a key part of that restructuring plan, involving more than $19 billion in debts held by overseas investors. It’s the first criminal probe launched against Evergrande since it was hit by the debt crisis nearly two years ago. But, late last week it acknowledged that the company’s proposed debt restructuring had hit a snag for a different reason. In an update in April, Evergrande admitted that the plan was still short of support from a key group of creditors.

Persons: Hong Kong CNN —, China —, Evergrande, —, Hengda, “ Organizations: Hong Kong CNN, Real, China Securities Regulatory Commission, Evergrande Locations: China, Hong Kong, United States, Hengda, Shenzhen

☆ What Biden Can Learn from Roosevelt’s ‘New Deal’ - The New York Times
▼ + stars: | 2023-09-12 | by ( Diana B. Henriques | ) www.nytimes.com time to read: +2 min

President Franklin D. Roosevelt’s “New Deal” helped raise America’s economy out of the Great Depression in the 1930s and set the country on course to become a superpower. And now, for the first time in decades, we have someone in the White House who has a new New Deal within his grasp. President Biden’s infrastructure investment bill echoes Roosevelt’s expansive public works projects; his vocal support for organized labor, his targeted debt relief efforts and his plans to strengthen domestic high-tech manufacturing evoke other Roosevelt priorities. The Inflation Reduction Act, too, includes money to bolster public infrastructure and address climate change, both goals Roosevelt most likely would have embraced, given his support for public works and conservation. The most significant hole in the New Deal analogy: financial reform.

Persons: Franklin D, Roosevelt’s, ”, Roosevelt Organizations: White House, Mutual, Securities and Exchange Commission

☆ US looks to offload $13 bln of mortgage bonds seized from SVB, Signature - Bloomberg News
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

A customer leaves after speaking with FDIC representatives inside of the Silicon Valley Bank headquarters in Santa Clara, California, U.S., March 13, 2023. REUTERS/Brittany Hosea-Small Acquire Licensing RightsSept 12 (Reuters) - The U.S. government is looking to offload nearly $13 billion of mortgage bonds it amassed from Silicon Valley Bank and Signature Bank following the collapse of the lenders, Bloomberg News reported on Tuesday, citing people with knowledge of the transactions. The FDIC has also discussed alternatives to cutting the prices on the bonds, including potentially repackaging the debt into new securities, the report said. The FDIC in April retained BlackRock (BLK.N) unit Financial Market Advisory to sell the securities portfolios of the two failed lenders. BlackRock had preliminary discussions with investors about the mortgage bonds, but they proved hard to sell, the Bloomberg report said on Tuesday.

Persons: Brittany Hosea, Deborah Sophia, Shailesh Organizations: Bank, REUTERS, U.S, Silicon Valley Bank, Signature Bank, Bloomberg, Federal Deposit Insurance Corp, FDIC, Advisory, BlackRock, Thomson Locations: Santa Clara , California, U.S, Silicon, BlackRock, Bengaluru

☆ Keep an eye on 'blue' bonds, a little-known income alternative tied to clean water
▼ + stars: | 2023-09-04 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

"Blue" bonds, securities focused on protecting bodies of water, are popping up with increased frequency with the help of nonprofits. Earlier this month, Denmark's renewable energy producer Ørsted said it would become the first energy company to issue blue bonds. But he said there likely won't be more options until there is wider demand for those blue bonds already available. Because of this, he recommends investors look beyond blue bonds to green bonds that have some focus on water issues. The primary investment thesis behind blue bonds, Atkinson said, is understanding the risk of ignoring the need for healthy oceans and clean water.

Persons: Kris Atkinson, Nomura, Ørsted, Fidelity's Atkinson, Atkinson, Aya Kawamoto, Morgan Stanley, Simon Waever, Waever, Green, Kawamoto, We're, Michael Bloom Organizations: The World Bank, Fidelity International, Nature Conservancy, United Nations, AXA, Inter, American Development Bank, Life Insurance, Conservancy, Treasury Locations: Seychelles, Fiji, Portugal, Europe, East, Africa, Barbados, Belize, Gabon

☆ AllianceBernstein is using AI on everything from research to operations. Here's how it's helping the $704 billion asset manager save hundreds of thousands of dollars.
▼ + stars: | 2023-09-04 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Here's how AB uses AI to get an edge, save analysts hours of work, and improve risk management. Seven years ago, the massive money manager AllianceBernstein set out on a mission to transform itself with AI and data science. The move would save AB hundreds of thousands of dollars and help its investors seek an edge with the $704 billion assets they manage. Chin lifted the hood on the asset manager's AI strategy and use cases. For instance, one signal compares regulatory filings for differences in company strategy or management.

Persons: AllianceBernstein, Andrew Chin, Chin, Larry Fink, terminations, It's Organizations: Wall Street, Vanguard, Fidelity Locations: BlackRock

☆ Vanguard joins BlackRock, cuts support for shareholder items on climate, social issues
▼ + stars: | 2023-08-28 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

The logo for Vanguard is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 1, 2022. Support for shareholder resolutions calling for such steps has declined at U.S. companies this year, with top asset manager BlackRock saying it backed the mostly-advisory measures just 7% of the time, down from 22% last year. Like BlackRock, Vanguard noted new securities regulations that make it harder for companies to leave questions off their ballots. In a note on its website, Vanguard also said many resolutions sought changes that might not be needed. Like BlackRock, Vanguard did not address how the criticism may have shaped votes this year but said its approach to evaluating shareholder proposals "has been consistent over time."

Persons: Brendan McDermid, Ross Kerber, Diane Craft Organizations: Vanguard, New York Stock Exchange, REUTERS, U.S, BlackRock, Thomson Locations: New York City, U.S, Pennsylvania, BlackRock

In this quarter’s update we look at new Securities and Exchange Commission cyber rules that may increase insurance risks for corporate directors; how new technologies such as artificial intelligence are helping assess a company’s cyber risk profile; and does having a cyber insurance policy increase the likelihood of being a victim of a ransomware attack? Premium Prices Decline Slightly Following Several Quarters of IncreasesCyber insurance prices in the U.S. declined 4% year over year on average in the second quarter...

Organizations: Securities and Exchange Commission Locations: U.S

Bank Indonesia's logo is seen at its headquarters in Jakarta, Indonesia, January 17, 2019. Bank Indonesia (BI) plans to issue new rupiah-denominated securities, using its holdings of government bonds as the underlying asset, as a new monetary instrument aimed at attracting foreign portfolio capital flows, Governor Perry Warjiyo said. BI kept the benchmark 7-day reverse repurchase rate (IDCBRR=ECI) at 5.75% for its seventh straight monthly policy review, as widely expected by economists surveyed by Reuters. Guarding the rupiah "is our way to protect the domestic economy, inflation and growth from global spillovers," Warjiyo told reporters. Inflation slowed in July to 3.08%, roughly the midpoint of the central bank's 2% to 4% target range.

Persons: Willy Kurniawan, Perry Warjiyo, Warjiyo, Radhika Rao, Shivaan Tandon, Bank Danamon, Fransiska Nangoy, Bernadette Christina Munthe, Stefanno Sulaiman, Ananda Teresia, Gayatri Suroyo, Martin Petty, Kim Coghill, Kirsten Donovan Organizations: REUTERS, Bank Indonesia, BI, Reuters, Securities, U.S, Treasury, DBS Bank, Capital Economics, Bank, Thomson Locations: Jakarta, Indonesia, JAKARTA, Asia's, China

☆ How screwed is WeWork? One of its bonds trades at 56 cents on the dollar, and Fitch Ratings thinks default is a real possibility.
▼ + stars: | 2023-05-19 | by ( Alistair Barr | Joe Ciolli | ) www.businessinsider.com time to read: +3 min

One of its bonds trades at 56 cents on the dollar, and Fitch thinks default is a real possibility. One of WeWork's bonds, which matures in 2025, recently traded at 56 cents on the dollar, according to Bloomberg data. A healthy company's debt often trades at 100 cents on the dollar, or at a very slight discount. Fitch upgraded WeWork's issuer default rating to 'CCC-', in a nod to the debt restructuring. Discussions of debt restructuring represent a striking new low for a company that used to be one of the most valuable startups ever.

☆ Airline, banking and rail oversight top U.S. progressives' wish list for Biden
▼ + stars: | 2023-03-30 | by ( Moira Warburton | ) www.reuters.com time to read: +3 min

REUTERS/Jim VondruskaWASHINGTON, March 30 (Reuters) - Liberal Democrats in the U.S. Congress called on President Joe Biden on Thursday to take executive action to crack down on misconduct in the banking, airline and rail transportation industries. The caucus, made up of 101 U.S. House Democrats and independent Senator Bernie Sanders, has grown in influence in recent years under Representative Pramila Jayapal's leadership. "These are actions that we believe the White House and federal agencies have the authority and the ability to take now," Jayapal told reporters on Thursday. With the House of Representatives narrowly controlled by Republicans and the Senate narrowly controlled by Democrats, progress on legislation is increasingly rare, leading presidents to rely more heavily on executive action. Biden's Democratic administration has taken the caucus's advice on multiple occasions, most notably on canceling student debt through executive action.

☆ Credit Agricole launches China M&A and investment banking business
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, March 27 (Reuters) - Credit Agricole (CAGR.PA), France's second-biggest listed bank, has become the latest foreign lender to boost its China investment banking operations with the launch of a new unit. The new unit, Credit Agricole (Beijing) Advisory Services, focuses on cross-border merger and acquisition, encompassing purchases, disposals and capital raising, it said in a statement on Monday. The unit which began operations on March 10 is overseen by Huai Yang as head of the operation, the bank said. Previously, the bank served its Chinese advisory clients from its offshore base. Some global banks are accelerating their expansion in China with the government granting a few major licences since earlier this year.

☆ JPMorgan, Standard Chartered win approval to expand in China
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Jan 19 (Reuters) - JPMorgan (JPM.N) and Standard Chartered won Chinese regulatory approval on Thursday to expand operations in China, as Beijing encourages expansion by foreign companies after lifting its restrictive COVID policies. British bank Standard Chartered (STAN.L) won an approval to set up a new securities brokerage unit in China also on Thursday, the regulator said. Canada's Manulife Financial Corp (MFC.TO) in November received regulatory approval to take full control of its Chinese mutual fund venture. U.S. asset manager Neuberger Berman in the same month won approval to set up a new fund unit in China. "China is certainly going to be bit of a long slog," Alexander said, referring to China's lengthy approval process for foreign companies.

☆ Rate shock calls time on funky debt boom
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

The Luxembourg-based group’s move portends a shakeout in the once vibrant market for funky debt that has equity-like characteristics. Hybrid debt boomed during the low-rate era, with issuance topping 35 billion euros last year, according to ING. Yet calling bonds now means issuing new securities at a high cost, especially for weaker companies. Some, like Telefonica (TEF.MC), are still issuing, even at a higher cost. If investors demand higher returns to compensate for the risk of extension, the result will be a smaller, more discerning market.

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