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11/16/2018

President Trump will visit California on Saturday to meet with victims of the wildfires in the state as the death toll from the Camp Fire stands at 63. Interior Secretary Ryan Zinke and Federal Emergency Management Agency administrator Brock Long visited with victims, first responders and California Gov. Jerry Brown on Wednesday.

11/16/2018

The Securities and Exchange Commission's Office of the Whistleblower received 5,282 reports in fiscal 2018, an 18% increase compared with fiscal 2017, according to an SEC report to Congress. The agency paid $168 million to 13 whistleblowers in fiscal 2018, up from almost $50 million to 12 individuals in fiscal 2017.

11/16/2018

UK Prime Minister Theresa May says that despite the resignation of two Cabinet ministers and vocal opposition from her party to a draft Brexit agreement, she is determined to "see this through". A change in course on Brexit would subject the country to "deep and grave uncertainty", she says.

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Theresa May, Brexit, Cabinet, Brexit, Brexit
11/16/2018

British regulators, including the Bank of England and the Financial Conduct Authority, have discussed with financial institutions the falling pound and the stock sell-off after the resignation of Britain's chief Brexit negotiator, sources say. The value of Barclays, Lloyds Banking Group and Royal Bank of Scotland has declined more than £6 billion amid market fears the UK will exit the EU without a deal.

11/16/2018

Italian Prime Minister Giuseppe Conte will sit down with the European Commission to request it does not take disciplinary action against the country for a budget proposal violating EU rules on debt and deficits. Luigi Di Maio, an Italian deputy prime minister, says the commission is "asking us for a blood-and-tears budget" by demanding compliance with those rules.

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Reuters
11/16/2018

Brexit-related turmoil has forced the UK Debt Management Office to accept uncharacteristically low bids on £2 billion in long-dated gilts. The fallout has spread beyond UK shores, with yields on German debt the lowest in two weeks and borrowing costs in peripheral eurozone countries rising.

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Reuters, Reuters
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Debt Management Office
11/16/2018

JPMorgan Chase CEO Jamie Dimon is leading the charge against Goldman Sachs and Morgan Stanley as his bank attempts to break their dominance over big-ticket Silicon Valley initial public offerings.

11/16/2018

Central counterparties need to work on implementing effective resolution regimes, and "authorities must take steps to ensure that CCPs do not themselves become a source of systemic risk", according to a Financial Stability Board discussion paper. The paper is open for comment until 1 February.

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Financial Stability Board
11/16/2018

The Chinese government is considering concessions to the US ahead of a Group of 20 gathering this month in Argentina to resolve the trade dispute between the countries, sources say. The concessions appear to mostly recap changes China has already adopted, such as higher equity limits on foreign investment in select sectors, a source says.

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Chinese government
11/16/2018

The People's Bank of China has released research that disputes the idea cryptocurrencies will disrupt the traditional monetary system and that calls distributed-ledger technology a "utopian fantasy". However, China appears to welcome the blockchain industry, given government oversight.

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Cryptovest
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Bank of China, cryptocurrencies