Financial Markets
Top stories summarized by our editors
12/15/2017

The Federal Reserve reportedly has dropped a proposed requirement that banks report exposure data from client clearing of derivatives in annual stress tests because of pressure from industry participants. Industry groups had complained the data would have skewed stress test models.

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Federal Reserve, Fed
12/15/2017

Chinese traders are hoping domestic oil futures launch by Christmas now that Shanghai Futures Exchange has finished a fifth round of testing and has met State Council requirements. "The Western market would be quiet [during Christmas] and allow the Shanghai exchange, as well as Chinese investors, to adjust in the early days," said trader Yuan Quwei.

12/15/2017

Squarespace, a startup that makes it easy for people to create websites, has raised $200 million in a funding round that gives it a $1.7 billion valuation. Most of the money will be used to cash out early employees and investors.

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Squarespace
12/15/2017

Ginkgo Bioworks, a startup that creates microbes for clients in various fields, raised $275 million in its most recent funding round. The company recently formed a joint venture with global agricultural chemical company Bayer.

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VentureBeat, Axios
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Ginkgo BioWorks, Bayer
12/15/2017

Splice, a startup that sells music samples and digital audio tools, raised $35 million in its latest funding round. The company aims to roll out more services for professional and amateur musicians.

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Recode
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digital audio
12/15/2017

The Trump administration will propose eliminating the right of H-1B visa holders' spouses to work in the US. The spouses were given this right under the Obama administration.

12/15/2017

US Citizenship and Immigration Services is accepting applications under the International Entrepreneur Rule. The agency says, however, that the Department of Homeland Security still plans to seek the rule's repeal.

12/15/2017

Jnana Therapeutics, a startup that will seek to develop medical treatments by focusing on cellular proteins, has launched with $50 million that includes investments from AbbVie Ventures and Pfizer. Jnana's acting chief executive, Amir Nashat, says the roles proteins play in health and diseases haven't been fully explored.

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Pfizer
12/15/2017

Sherpa Capital co-founder Shervin Pishevar is leaving the venture capital firm and terminating all connections with it after five women accused him of sexual misconduct. He denies the claims.

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Reuters
12/15/2017

The International Energy Agency has revised its crude-output forecast for next year to indicate supply might grow faster than demand as US output increases by 870,000 barrels per day. "So, on our current outlook 2018 may not necessarily be a happy New Year for those who would like to see a tighter market," according to the IEA.

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International Energy Agency