A new M&Ms concept store will fill the former American Girl space at Minnesota's Mall of America, giving the candy brand a Midwest flagship. The store will feature a glass elevator that goes to a third-floor observation deck, a two-story chocolate wall and other spots designed to be Instagram-worthy.
Distributed ledger technology solutions used for collateral management have the potential to improve collateral mobility by increasing efficiency, according to a study from two German institutions. Such improved mobility is of interest "not only for market participants and infrastructure providers, but also for central banks as the largest collateral takers," notes the report.
2020 could be a strong year for initial public offerings as companies are expressing great interest in them, say the presidents of the New York Stock Exchange and Nasdaq. Despite some disappointments 2019 was the best year for IPOs since 2014, said NYSE President Stacey Cunningham.
European Central Bank President Christine Lagarde has launched a wide-ranging review of policy strategy, expected to last most of this year. The review will cover ECB policy on inflation targets, its methods for measurements of price growth and how it communicates with the public.
UK banks have completed their planning for Brexit based on what government officials have decided so far, industry executives say. Until the UK and EU governments agree on the details of post-Brexit relations "there isn't much more that can be done", said one executive who led a bank's Brexit project.
The UK Debt Management Office expects a surge of debt issuance to fund increased public spending, but its chief Sir Robert Stheeman is confident the markets can absorb it.
After June 30, Goldman Sachs won't help take a company public in the US or Europe unless it has at least one "diverse" board member, preferably a woman, CEO David Solomon said. "I look back at IPOs over the last four years and the performance of IPOs where there's been a woman on the board in the US is significantly better than the performance of IPOs where there hasn't been a woman on the board," he said.
Net inflows into mutual funds totalled €39.4 billion during December thanks to a growing appetite for risk among European investors, according to data from Refinitiv. "Following the good performance of the equity markets globally, European investors continued to be in risk-on mode in December," said Refinitiv research chief Detlef Glow.
More than 1,400 EU-based finance firms have applied for temporary authorisation to do business in the UK after Brexit, according to the UK's Financial Conduct Authority. If all of them go ahead and open UK offices, European Commission powers to dictate UK financial regulations under the terms of the equivalence regime will be greatly diminished, a legal expert has pointed out.
UK Chancellor Sajid Javid assured British chief executives at the World Economic Forum that his government will only diverge from EU regulations after Brexit if it is in the interests of UK businesses. He said the UK's position that it will not be a rule taker from the EU "doesn't mean we'll diverge for the sake of it".
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