Regulatory issues not reducing demand for Chinese listings

first_imgStacey Cunningham, president of the New York Stock Exchange, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.Adam Galasia | CNBC – Advertisement – Regulatory concerns around Chinese listings returned to the public eye last week after the last-minute suspension of Ant Group’s world-record $34.5 billion IPO in Hong Kong and Shanghai.The Shanghai Stock Exchange said Ant Group had reported “significant issues such as the changes in financial technology regulatory environment,” according to a CNBC translation of the statement from Mandarin.Without commenting on this individual case, Cunningham said there was “a lot of dialogue around how Chinese companies list here in the U.S., as well as what Shanghai and Hong Kong are doing.”Cunningham emphasized the importance of retaining the depth and liquidity offered by the U.S. market by balancing investor protections, such as audit oversight, with access, and “not encouraging other companies to go to other global markets.” – Advertisement –center_img “What is really important is that we make sure we are appropriately setting a framework in place that keeps investors protected,” Cunningham said.“We continue to see investor demand for Chinese companies in the U.S. and we haven’t seen that changing yet, despite the fact that there is a lot of talk about trade and about oversight, so we are working constructively and we are optimistic that we will be able to find a way to actually enhance the level of protections that exist on companies here in the U.S.”Half of cross-border initial public offerings in the U.S. in the first nine months of the year came from China, according to Ernst & Young, despite the Senate in May passing a bill that could delist a number of Chinese companies from American exchanges.Ant Group and the regulation question- Advertisement – The New York Stock Exchange (NYSE) is still seeing demand from Chinese companies looking to list in the U.S. despite highly publicized regulatory concerns, its president has told CNBC.Relations between Washington and Beijing have become increasingly fractious in recent years, with President Donald Trump’s administration pushing to reduce domestic financial ties with the world’s second-largest economy.Speaking to CNBC’s Karen Tso on Tuesday night, NYSE President Stacey Cunningham said the exchange was continuing to see demand from Chinese companies for U.S. stock market listings.- Advertisement –last_img read more

Untouchable: The baby born to a mum with coronavirus

first_imgFor 10 days after giving birth to her first child, the mother was not allowed near him after she tested positive for coronavirus, for fear of infecting her newborn. And even though she has since been reunited with her son, neither she nor her husband have been allowed to physically touch him without gloves as they undergo an extended period of quarantine. “It’s hard,” says Vanesa Muro at her home in Madrid, the worst-hit area in Spain, a country where more than 10,000 people have died from the virus, the highest number outside Italy. “He grabs your finger, the poor little thing and holds on to the plastic, not on to you. But at least that’s another day over, you have to think of it like that otherwise you get depressed,” says the 34-year-old.  She had been preparing to have the baby by caesarian section on March 16, but everything changed when her grandmother, who the couple had been seeing every day, caught the virus. She later died.  On March 12, she and her husband tested positive and he rushed her to Madrid’s La Paz University Hospital but he was not allowed in, “so he left me at A&E”, she told AFP.They decided to operate the next day.  ‘Longest 90 minutes’ “I felt a whole mixture of feelings, it was horrible,” she says — fear of infecting the baby, nervous about going through it without her husband, and the bizarre sense of being operated on by surgeons completely covered in protective suits.Back home, her husband was also struggling, knowing she was in surgery but not knowing what was going on.”It was the longest 90 minutes of my life,” says Oscar Carrillo.In the end, baby Oliver was born safely, weighing 3.6 kilograms.He was put straight into an incubator and kept away from all the other babies until he was tested and found to be free of the virus. Following 48 hours recovering in hospital in almost total isolation, with the staff entering the room as little as possible because of a lack of protective equipment, Muro was allowed to go home, but had to leave her baby behind. “It seems silly but even though he was seven floors below me, he seemed closer to me there than when I was home,” she says.  ‘Memory of a nightmare’ It was only 10 days later that the couple, wearing gloves and masks, were allowed to take him home. “Hey little champion, we’re going to go home now,” were the first words Muro said to her son during their emotional reunion. “It was like he’d just been born that day.”For Arantxa Fernandez, a psychologist at the hospital, it was also a very special moment, “the most beautiful I’ve ever experienced in my professional life,” she told AFP.Throughout the process, Fernandez would send the couple photos and videos of Oliver while he was still in hospital, offering the pair support that they describe as “vital”.Although they have spent 14 days in quarantine, there are no testing kits to confirm they are free from the virus so they are still wearing gloves and masks.”I still haven’t touched my son without gloves… we are just dying for the quarantine to end so we can touch him, kiss him,” says Carrillo as his wife gives Oliver a bottle, safety measures in place. And the new parents are not able to turn to their families for support. Even though Muro’s parents live very close, Spain’s lockdown means it feels like they are living miles away, Carrillo says. “It’s hard but we’ll get through it,” says Muro. “In no time, he’ll be a month old and we’ll be back out on the streets.”He will get to know his grandparents and aunts and uncles. And all of this will just be a memory of a nightmare that we lived through.”  Topics :last_img read more

Aussies win third Test but Proteas take series 2-1

first_imgAUSTRALIA avoided a first Test series whitewash at home with a consolation seven-wicket victory in Adelaide as South Africa won the series 2-1.The Proteas were bowled out for 250 before Australia chased 127 on the fourth evening of the day-night Test.David Warner made 47, Steve Smith 40 and Matt Renshaw, the England-born opener, 34 not out off 137 balls.Earlier, Stephen Cook converted his overnight 81 into 104 for South Africa as Mitchell Starc took 4-80.Victory ended Australia’s run of five successive Test defeats, and was their first in any form of cricket since beating Ireland in a one-day international in September.South Africa’s series triumph was their third in a row in Australia.The match ended a fractious tour during which South Africa captain Faf du Plessis was fined for ball-tampering, and a member of their security staff jostled with an Australian journalist at the airport.Australia play the first of three one-day internationals against New Zealand on 4 December before hosting Pakistan in a three-Test series from 15 December.South Africa’s next assignment is the visit of Sri Lanka, with a three-Test series starting on 26 December.SOUTH AFRICA 1st innings 259 for 9 decl (F. du Plessis 118no; J. Hazlewood 4-68) Australia 1st innings 383 (U. Khawaja 145, S. Smith 59, P. Handscomb 54, M. Starc 53) South Africa 2nd innings (Overnight: 194-6)S. Cook b Starc 104D. Elgar c Smith b Starc 0H. Amla c Wade b Hazlewood 45J. Duminy b Lyon 26F. du Plessis c Handscomb b Starc 12T. Bavuma c Smith b Lyon 21K. Abbott lbw b Lyon 0Q. de Kock lbw b Bird 5V. Philander lbw b Starc 17K. Rabada c Wade b Hazlewood 7T. Shamsi not out 0Extras (lb-10 nb-3) 13Total (all out, 85.2 overs) 250Fall of wickets: 1-1 D. Elgar,2-82 H. Amla,3-131 J. Duminy,4-154 F. du Plessis,5-190 T. Bavuma,6-194 K. Abbott,7-201 Q. de Kock,8-235 V. Philander,9-250 K. Rabada,10-250 S. CookBowling: M. Starc 23.2 – 5 – 80 – 4(nb-1) J. Hazlewood 20 – 8 – 41 – 2J. Bird 20 – 3 – 54 – 1(nb-2), N. Lyon 21 – 4 – 60 – 3,D. Warner 1 – 0 – 5 – 0.AUSTRALIA 2nd innings (Target: 127 runs)M. Renshaw not out 34D. Warner run out (Bavuma, de Kock) 47U. Khawaja lbw b Shamsi 0S. Smith c de Kock b Abbott 40P. Handscomb not out 1Extras (lb-4 nb-1) 5Total (for 3 wickets, 40.5 overs) 127Fall of wickets: 1-64 D. Warner,2-64 U. Khawaja,3-125 S. SmithDid not bat: N. Maddinson, M. Wade, M. Starc, J. Hazlewood, N. Lyon, J. BirdBowling: K. Abbott 10 – 2 – 26 – 1, V. Philander 7 – 2 – 20 – 0, K. Rabada 9 – 4 – 28 – 0(nb-1),T. Shamsi 14.5 – 4 – 49 – 1.last_img read more