The deadline for the Labor Department to seek to overturn an appeals court decision vacating its fiduciary rule passed last week without the department taking action. The Securities and Exchange Commission is working on its own "best-interest" regulation governing financial advice for retirement savers.
Perry Ellis International co-founder George Feldenkreis will take the company private in a deal valued at $437 million or $27.50 per share. The apparel designer and retailer launched in 1967, and Feldenkreis, who led as CEO for many years and stepped down as chairman in September, will return in a management position.
Dissatisfaction can serve as a gateway to career and life changes, says John Baldoni in this blog post and video. Don't fight the feeling, he says, but try to use it as a motivator for taking action in service of long-term goals.
The European Union is becoming a key regulator in financial markets around the world as international companies have found it simpler and more affordable to apply blanket global policies, suggests Anu Bradford, a professor at Columbia University's law school. "The EU has become more self-conscious of its ability to set international standards and is embracing that opportunity," Bradford says.
Japan's exports posted an 8.1% year-on-year gain in May, topping the 7.4% increase economists expected. The rise was driven largely by sales of cars to the US and Europe and chip-manufacturing equipment to Asia.
The China Securities Regulatory Authority is expected to authorise smartphone maker Xiaomi this week to list its China depositary receipts on the Shanghai Stock Exchange. Xiaomi hopes to raise $5 billion in the offering.
There are several estate-planning lessons advisors can learn from the controversy surrounding 95-year-old Marvel creator Stan Lee's $50 million estate, which is reportedly the target of financial predators. Experts say helping clients consolidate financial accounts, place assets in a revocable trust and carefully choose responsible trustees can help prevent elder abuse.
A Bank for International Settlements report warns that bitcoin and other cryptocurrencies are unlikely to ever become mainstream currencies because they are vulnerable to fraud and manipulation, are unstable, and require huge amounts of electricity. If blockchain software processed the digital retail transactions now handled by national payments systems, the communication required "could bring the Internet to a halt," the BIS said.
Morgan Stanley analysts say international investors may consider a bullish approach on London-listed equities that will likely profit from high commodity prices, more mergers and acquisitions, and increased buybacks. The Financial Times Stock Exchange 100 Index may see a 10% upside throughout the next year, analysts say.
A new financial product, freight futures, is drawing a lot of attention from investors and some experts are blaming speculation on the contracts for the increasing volatility of freight rates. From January to May, the volume of trading in freight futures on the Singapore Exchange was almost 50% higher than for the comparable period last year.
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