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China Fintech Curbs That Hit Ant Were No Surprise: Ping An


China Fintech Curbs That Hit Ant Were No Surprise: Ping An
Bloomberg
3/1/2021
Bloomberg News
(Bloomberg) China’s curbs on fintech that thwarted a massive stock sale by Ant Group Co. have been under consideration for years and weren’t a surprise to those in the industry, according to an executive at China’s biggest insurer by market value.
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Like Ant, Ping An Insurance (Group) Co. was in the midst of planning a public listing for a fintech unit when regulators began issuing a flurry of rules to contain the country’s burgeoning online lending industry. Its Lufax Holding Ltd. debuted on the New York Stock Exchange days before the most-sweeping checks were unveiled in November, followed closely by the abrupt suspension of Ant’s initial public offering. ....

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Pipeline Giants' Houston Oil Futures Seen Launching in Months


Pipeline Giants’ Houston Oil Futures Seen Launching in Months
Bloomberg
1/23/2021
Sheela Tobben
(Bloomberg) A new futures contract for the physical delivery of crude in the Houston area may only be a few months away from launching.
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Enterprise Products Partners LP and Magellan Midstream Partners, the pipeline companies responsible for delivery of Houston’s two active futures contracts, said Thursday they are joining forces to create a broader benchmark. That may happen in a few months, said Bruce Heine, a Magellan spokesman.
The Houston contracts reflect a shift in the oil industry’s focus from the storage hub in Cushing, Oklahoma, the delivery point for New York-traded futures, to the Gulf Coast. A global appetite for U.S. crudes resulted in a new web of pipelines and terminals to connect the Permian Basin of West Texas and New Mexico to the world. ....

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