China Shows Jack Ma What an Activist Can Do - The Washington Post washingtonpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtonpost.com Daily Mail and Mail on Sunday newspapers.
Chinese President Xi Jinping personally stepped in to prevent the initial public offering of Ant Group, which would have been the world’s largest, after controlling shareholder Jack Ma offended government. Ma had likened China’s financial system to pawn shops. The battle was part of a long-running war between Ma and China’s financial regulators, including the People’s Bank of China. Jack Ma criticised the government’s increasingly tight financial regulations for holding back technology development. Mr. Xi ordered Chinese regulators to investigate Ant’s initial public offering, which led to the suspension of Ant’s share sales on November 3. Global investors had committed to paying more than $34bn for Ant’s shares according to The Wall Street Journal- Melani Nathan
December 23, 2020 | 12:01 am Font Size
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WHEN global bond markets dipped in February, fund manager John Stover dove in, predicting a rebound, only to watch prices collapse as the coronavirus pandemic raged on. Mr. Stover kept buying.
“It never feels good to buy at the bottom or when things are going down,” he recalled earlier this month, describing hasty phone calls to portfolio companies checking how much money they had left.
The bargain hunting as panicked investors hit the sell button helped Stover’s $50-million Tribeca Vanda Asia Credit Fund gain almost 21% this year as government stimulus kicked in well above the Bloomberg Credit Multi-Strategy Hedge Fund Index, which has been flat. The fund is among several that are bullish about trading opportunities in Asian bonds next year including those in the junk-rated space after generating returns during this year’s volatility.
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Tiff Macklem, who took over as Bank of Canada governor in the first week of June, still hasn’t fully decorated his office.
The camera on Macklem’s computer caught a bit of his wooden desk during our interview on Dec. 16, but the walls behind him were white and bare. The Bank of Canada sent non-essential staff home when governments initiated strict social distancing in March, and hasn’t decided when to call them back. So, why hang art when there is no one around to see it but your chief of staff?
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