Wall Street seeks rule changes to encourage IPOs, staying public
Wall Street lobby groups urged U.S. policy makers and regulators to revamp rules to encourage more initial public offerings and to reduce the regulatory cost of staying public, in a white paper issued on Thursday.
China is an enticing growth market, particularly for tech companies. But according to 9Gag CEO Ray Chan, it’s also the place where Western tech companies are failing. He likens the Chinese tech market to awkward teenage fumbles with the opposite sex. “Everyone talks about it, nobody knows how to do it, everyone thinks everyone else is doing it, so everyone clams they’re doing it,” he quipped on stage at the 2018 TNW Conference in Amsterdam. The thing is, he’s not wrong. Companies like Uber and Whatsapp, both giants in their own right, haven’t managed to unseat domestic-made rivals like Didi… This story continues at The Next Web
ONE of the more extreme recent cases of corporate bribery is that of LafargeHolcim, a giant Swiss-French cement-maker which was accused in 2016 of funnelling money to armed groups controlling roads and checkpoints around a factory in Syria. The firm still cannot be sure who pocketed its payoffs, via middlemen, that were intended to keep its facility running at all costs. The money may well have ended up funding Islamic State terrorists.The investigation into LafargeHolcim is one sign of a wider change. The era when European firms could talk up lengthy “ethics codes” at home and behave badly abroad is over. Long gone are the days when German law counted bribes paid by the country’s industrial champions as tax-deductible. A spate of scandals in Europe suggest that prosecutors, as well as the politicians who influence how much freedom judicial investigators enjoy, are becoming ever less tolerant of corporate corruption.Another big firm under pressure is Novartis, a Swiss drugmaker....Continue reading