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11/12/2018

Critics of last week's China International Import Expo event in Shanghai, which saw Chinese companies and their foreign counterparts ink around $57.83 billion worth of deals, claim the event was staged and question how many of the deals will actually come to fruition. Duncan Innes-Ker, the Economist Intelligence Unit's Asia head, said what is needed is action to level the playing field for trade in China, not pledges to import more.

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CNBC, Reuters
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Shanghai, China, China
11/12/2018

The trade dispute between the US and China has pitted sections of the US auto industry against each other as they battle over who is responsible for paying tariffs on Chinese parts. Carmakers rely on complex, long-term supply chains and are grappling with the sudden challenge of allocating tariff costs throughout the chain.

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US, China
11/12/2018

Panellists at a forum agreed that distributed ledger technology "will inevitably build silos" if providers don't ensure interoperable connectivity is a priority among infrastructures. "If we don't bake in interoperability from the beginning, we risk making the fragmentation worse than it currently is," said Lee Braine of Barclays.

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Lee Braine, Barclays
11/12/2018

Industry associations, including FIA, are opposing the European Commission's proposed changes to the equivalence regime under Europe's revised Markets in Financial Instruments Directive as too restrictive to third-country investment services. "Limiting the ties between EU and non-EU market participants would be a backwards step for EU capital markets and their connection to the world," noted the statement.

11/12/2018

The European Securities and Markets Authority will pursue an agreement with the UK's Financial Conduct Authority to allow for the exchange of supervision and enforcement information in the event that UK-based trade repositories and credit rating agencies lose their EU registration in a no-deal Brexit.

11/12/2018

Central counterparties in Singapore, Hong Kong and Tokyo are moving quickly to overhaul their margining practices to prevent Nasdaq-style member defaults as they prepare for an increase in trading from noncleared margin requirements.

11/12/2018

Advocates for retirement-related measures are cautiously optimistic that the House and Senate can reach a compromise in the lame-duck session and pass retirement legislation. Both chambers have approved their own bills, which call for the establishment of a safe harbor protecting sponsors of defined-contribution plans that offer lifetime income options.

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Senate
11/12/2018

US-based consumer survey company Qualtrics International has agreed to be acquired by German software company SAP for $8 billion. Qualtrics was days away from an initial public offering.

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Reuters, TechCrunch
11/12/2018

The question of whether new restrictions on foreign investment in the US will scare away potential sources of capital remains to be answered, said Jeff Farrah, NVCA general counsel. "The impact ultimately on the companies is not known -- but is certainly likely to inhibit them in many ways," he said.

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The Guardian (London)
11/12/2018

Clearbanc, a startup that advances money to pay for clients' advertising in return for a share of their earnings and a 6% fee, has raised $70 million. The company is active in the US and Canada but plans to expand to other countries with the capital.

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TechCrunch