Politically sensitive sale of Chicago exchange to Chinese buyers is cancelled

17 February, 2018, 01:49 | Author: Teresa Adams
  • Reuters

After a review that lasted for more than two years, the top USA financial regulatory agency barred a Chinese-led group of investors from purchasing the Chicago Stock Exchange.

The decision by the SEC has put an end to a two-year battle for an approval of the sale and emphasizes once again zero tolerance by Donald Trump' s administration toward Chinese buyers.

"China, a Chinese company", Trump said in a debate in SC in early 2016.

The SEC said that during its review, it was unable to obtain all the information it needed from the Chinese-led group of investors, including details about how some of the entities involved in the deal were funded.

Trent Bridge misses out as European Central Bank confirms 2023 Ashes venues
Trent Bridge - the English venue that hosted one of Australia's most embarrassing defeats - has again been overlooked for future Ashes Tests.

"This has been a long fight, and I am grateful we now have a president who recognises the national security threats of allowing a Chinese government-affiliated company to own the Chicago Stock Exchange", Republican congressman Robert Pittenger said in a statement on Thursday.

The exchange, which handles less than 1% of daily United States stock trading, was hoping the sale could be a springboard to a brighter future, attracting new listings and investments from China.

The acquisition, which was first proposed back in February of 2016 and worth approximately $25 million, was led by privately held Chongqing Casin Enterprise Group that invests in financial holdings and real estate development.

The decision by the SEC comes during a time of increased trade tensions between the USA and China. Deutsche Boerse bought the US-based International Securities Exchange for $2.8bn in 2007, before selling it to Nasdaq for $1.1bn in 2016.

The first details about Apple iOS 12
Come iOS 12 , it may take a while for you to notice its biggest feature, assuming that Apple's new strategy is successful. Apple is expected to discuss more on iOS 12 later this year at WWDC, and we'll see just what features Apple does debut.

In its decision to reject the deal, the S.E.C. said the proposal left too many unanswered questions about who would ultimately have control over big decisions at the exchange.

In particular, the SEC said it was not satisfied that it would have full access to the exchange's books and records if the deal were to go through.

The Chicago Stock Exchange, in a blog post Friday, said it was disappointed with the decision.

The landmark Securities Exchange Act of 1934 governs secondary trading of securities - stocks, bonds, and debentures - in the United States, and provides the basis for government oversight of USA financial markets.

Is Facebook losing younger users to Snapchat!
Meanwhile, Facebook's proportion of social network users accessing the platform will continue to decline over the forecast period. Instagram is set to remain the more widely used service, but the report suggests Facebook has some work to do with younger users.


  • Austrian Snowboarder Breaks Neck In Terrifying Olympic Crash; Still Finishes Race

    Austrian Snowboarder Breaks Neck In Terrifying Olympic Crash; Still Finishes Race

    A slow-motion video of the crash shows that his head snapped back and hit the ground before his goggles fly off from his mask. Schairer, who was in fourth place at the time, fell directly on his back during the quarterfinal race's second to last jump.
    Health Department to continue no cost flu shots while supplies last

    Health Department to continue no cost flu shots while supplies last

    The Louisiana Department of Health made the announcement today, as widespread flu activity continues throughout the state . The illness tracker gave Warrenton a 4.5 out of 10 ranking in level of severity for influenza, and Manassas a 5.
    USA  urges anti-Islamic State coalition members to help rebuild Iraq

    USA urges anti-Islamic State coalition members to help rebuild Iraq

    Iraqi forces are backed by an global coalition led by the USA , which pounds militant strongholds from the air. The officials made their declaration at an global donors' conference hosted by Kuwait .
  • Mass protests force Ethiopia's PM to resign

    Mass protests force Ethiopia's PM to resign

    Desalegn previously served as deputy prime minister and foreign minister under former Ethiopian leader Meles Zenawi . Some of Ethiopia's powerful elites have come to see the prime minister as weak and lacking in direction, she says.
    Chrome deploys ad blocker

    Chrome deploys ad blocker

    The choice is preserved on a per-site basis, so if you allow ads on a particular site, the choice is good only for that site. Also audio/video ads with sound that starts playing the moment the site loads is also being banned from now onwards.
    Trump pushes Senate on 'merit-based immigration'

    Trump pushes Senate on 'merit-based immigration'

    Trump seeks to end the Obama-era Deferred Action for Childhood Arrivals program, known as DACA, as soon as next month. Democrats so far have "yet to bring forward a single proposal that gives us a realistic chance to make law", he said.
  • PA Police Return Weapon Stolen From Soldiers in Jenin Lynch

    PA Police Return Weapon Stolen From Soldiers in Jenin Lynch

    She is charged with 12 offences, including assaulting security forces and incitement to violence and faces a lengthy jail term. The attack in question took place when the suspect was 16 years old and she brought in her 17 birthday while in custody.
    Jurgen Klopp: 'Character more important than tactics in winning games'

    Jurgen Klopp: 'Character more important than tactics in winning games'

    Everyone can make a difference. "Now we have to show that we are not only part of the competition, we are quite ambitious. The Holland worldwide told Liverpoolfc.com: "The game will not be decided in one leg, it's over two legs".
    Woman with rare disease wakes up with British accent

    Woman with rare disease wakes up with British accent

    While those disappeared after about a week, Myers said that she has been speaking in a British accent for at least two years now. This alters the way the person speaks (the rhythm and tone, for example), causing their speech to sound like a foreign accent.
  • Telugu iOS 11 Bug: Apple Promises To Fix It Soon

    Telugu iOS 11 Bug: Apple Promises To Fix It Soon

    Motherboard reported the behavior of users, who have exploited the bug by putting the offending character in their usernames. The Verge verified the glitch and also shared a video that showed the affected app closing in a loop.
    Billionaire tech investor Peter Thiel relocating businesses, self to LA

    Billionaire tech investor Peter Thiel relocating businesses, self to LA

    The wrestler, whose real name is Terry Bollea, won the suit and bankrupted the gossip site. Thiel is expected to set up shop in a 7,000-square-foot home overlooking the Sunset Strip.
    Several hospitalized after shooting at NSA gate

    Several hospitalized after shooting at NSA gate

    A shooting outside the US National Security Agency headquarters in Fort Meade , Maryland reportedly wounded three people. ET on Wednesday, the Anne Arundel County Police Department said in a tweet that there was a "possible shooting near NSA".


Drake shows support for Canadian women's hockey with Instagram story
Homan and teammates Emma Miskew, Joanne Courtney and Lisa Weagle do have experience in big events on their side. In figure skating, Toronto's Patrick Chan fell on a triple Axel and sat sixth after the men's short program.

Turkey's Erdogan conveyed expectations on Syria to Tillerson
Defense Secretary Jim Mattis on the sidelines of a North Atlantic Treaty Organisation meeting. We will defend ourselves", Funk said, during a visit to Manjib this month.

Bannon ordered back on Capitol Hill for Russian Federation probe interview
Bannon has been a no-show at previously scheduled hearings and declined to answer questions at hearings he did attend. When Mr Conaway was asked whether he would back such a contempt proceeding, he said the decision was not his to make.

Sheriff shares tragic story of hero coach killed in school shooting
Witnesses said when the gunfire broke out, Feis quickly draped himself over students, acting as a human shield. Shine your attractive light from the heavens for us to make our way through these very dark times ".

Steam unveils major updates to wishlist feature
The combination of filters and sort-orders users pick will also automatically save and apply next time the Wishlist is accessed. This can be frustrating when trying to find items during a large Steam sale or to finding purchases at particular prices.

Second judge blocks Trump from ending DACA
In the ruling on Tuesday, Garaufis said the Trump administration could eventually rescind the DACA program. Percentage of DACA enrollees who had their status revoked because of criminal or gang activity.

Emily Sweeney crashes on final run, says she "is fine"
Sweeney was conscious, and she eventually got up and walked off the ice under her own power, though she was moving gingerly. Sweeney, 24, is competing in her first Olympics after missing out on a spot in the 2014 Winter Games in Sochi, Russia.

What are the Most Purchased Items for Valentine's Day this Year?
Traditionally, women receive the flowers but it's not the lady receiving the gift this time. Baraboo Floral typically sells 150-200 arrangements for Valentine's Day.

U.S. intelligence: Russian Federation to increase election meddling
Porter had been serving with an interim security clearance while his background check was pending, the White House said. Dan Coats , the director of national intelligence, similarly said Trump has not urged him to address Russian meddling.

'Chelsea Bomber' Receives Two Life Sentences
Earlier that day, he had placed a bomb in a garbage can at the finish line of a US Marine Corps charity race in Seaside Park, N.J. Rahimi was arrested two days after the attacks following a shootout with police which left him in hospital for weeks.