tyb
New filing in Trump et al v. Deutsche Bank and Capital One: Notice of Interlocutory Appeal
https://twitter.com/big_cases/status/1131936775943938049
https://www.usatoday.com/documents/6025511-Notice-of-Interlocutory-Appeal/
Morningstar Exec Chair sells $25.58m in shares since April 1st 2019
New filing today and a steady flow of sales from this credit ratings agency exec chair and 10% owner.
This cap reflects today's filing-sales are habbening every 2-3 day's here.
Ranging from 839-29,895 shares at once-skewed towards the upper end of that range for each sale.
Since May 2014 insider trades breakdown like this: $223,430,949 in total sales vs. $74,456 in buys.
Morningstar, Inc. is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors. It provides data and research insights on a range of investment offerings, including managed investment products, listed companies, capital markets, and real-time global market data. It conducts its business operations outside of the United States through subsidiaries in countries, including Australia, Brazil, Canada, Chile, Denmark, France, Germany, India, Italy, Japan, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, People's Republic of China (both Hong Kong and the mainland), Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, the United Arab Emirates, and the United Kingdom.
Number of employees : 4 920 people.
https://www.marketscreener.com/MORNINGSTAR-INC-10068/?type_recherche=rapide&mots=morn
https://www.secform4.com/insider-trading/1289419.htm
The Indisputable Role of Credit Ratings Agencies in the 2008 Collapse, and Why Nothing Has Changed
A scene from the Oscar-nominated movie The Big Short depicts the important role of credit ratings agencies during the Great Recession. It shows Melissa Leo as an employee of Standard & Poor’s (one of the big three credit ratings agencies) explaining to Steve Carell (who plays a hedge fund manager) why S&P continues to give AAA ratings to mortgage-backed securities (consisting of junk loans). The answer given by her is: “They’ll just go to Moody’s.”
The role of the credit ratings agencies during the financial crisis remains highly criticized and mostly unaccountable. The agencies have been blamed for exaggerated ratings of risky mortgage-backed securities, giving investors false confidence that they were safe for investing.
rest at link
https://truthout.org/articles/the-indisputable-role-of-credit-ratings-agencies-in-the-2008-collapse-and-why-nothing-has-changed/
Moody's, Morningstar, Fitch-to name the big players, Hillbags would have left them untouched and stated so.
Flash boys is a great read on how they mechanically kept the shitpile from falling apart. For non-financial people I rec'd the Big Short as Flash boys may put you to sleep.
o7
LocalBitcoins Bans Bitcoin Buying in Iran in Blow to Rising Crypto Commerce
LocalBitcoins has officially shut off service for Iran-based users, a move that follows weeks of rising rial trading volumes on the platform.
The Helsinki-based peer-to-peer exchange has not explicitly said why Iranians are suddenly being cut off from its service, though U.S. sanctions are almost certainly the cause.
News of the move first circulated across local language Telegram channels earlier this week that the exchange had blocked Iranians. Users reported encountering problems in posting new trades and updating previous ones on the website.
“If you have an account already, you will be able to withdraw your bitcoins, but you will not be able to use the platform for trading,” reads a response by LocalBitcoins to an Iranian user that has circulated in social media and local news websites.
A message also appeared on the platform’s Iran country page that read: “Unfortunately, LocalBitcoins is currently not available in your selected region.” On Twitter, the exchange told several Iranian users: “Our services are not available in your region for risk-based reasons.”
LocalBitcoins has been perhaps the most popular bitcoin trading website among Iranian users, as it doesn’t require international credit card information – something Iranians have been bereft of for decades – and allows users to pay with their local bank accounts.
According to Iranian users, the website was also open to reviewing local bank account documents to resolve potential problems, signaling that they have advisors familiar with the largely isolated Iranian banking system.
Moreover, LocalBitcoins was trusted by Iran-based bitcoin users because it holds funds in escrow until both sides have given final confirmation, thereby ensuring transaction safety and lowering fraud.
Sanctions a likely cause
LocalBitcoins did not respond to several requests for comments by CoinDesk on the reasons behind its decision to ban Iranians. But almost undoubtedly, the escalating “maximum pressure” campaign of the U.S. against Iran has prompted the Finnish website to block Iranian users.
Just over a year ago, U.S. President Donald Trump unilaterally withdrew from Iran’s nuclear deal with world powers, announcing reimposition of new rounds of stringent economic sanctions.
Legitimate Iranian crypto users have already felt the sting of sanctions several times during the past year as multiple exchanges, including Binance, Bittrex and ShapeShift have stopped offering services.
https://www.coindesk.com/localbitcoins-bans-bitcoin-buying-in-iran-in-blow-to-rising-crypto-commerce
it habbens. Not a new issue
was starting in the late '90's with the needle "discussions" then. Had to leave SF, glad I did
China's Largest Chipmaker De-Lists From NYSE
Friday's session has already featured a frantic flurry of trade-war-related headlines that have - at least in the market's view - overshadowed Theresa May's tearful announcement that she will be stepping down as PM.
Beijing repudiated President Trump's Thursday claim about a 'speedy' trade deal, saying there were no plans for a Trump-Xi meeting. US stock futures pared gains on that headline. Also, US firms ratcheted up the pressure on Huawei, with Microsoft joining the contingent of chip and tech companies that is planning to cut ties with Huawei over Washington's blacklisting.
And now, the South China Morning Post is reporting that China's largest chipmaker is withdrawing its ADRs from the New York Stock Exchange, and will subsequently trade only in Hong Kong. The company said 'low trading volumes' and the 'cost of maintaining the listing' motivated its decision.
China’s biggest maker of semiconductors is to withdraw from the New York Stock Exchange as the increasingly ferocious trade war with the US spills over into the technology sector.
Semiconductor Manufacturing International Corp (SMIC) said on Friday evening it has notified NYSE of its intention to apply on June 3 to delist its so-called American depositary receipts from the bourse. In a filing to the Hong Kong stock exchange, where its shares are listed, SMIC cited low trading volumes of its ADRs and the costs of maintaining the listing and complying with reporting requirements and related laws.
The delisting is expected to happen after June 13, and trading of the chip maker’s US securities will shift to the over-the-counter market, the statement said.
Bwahahahahaha-joining the ranks of ktwats OTC POS narrative-can't make this shit up.
The sudden move comes as Washington steps up efforts to cut off its technology from China, with trade negotiations between the world’s two largest economies still deadlocked.
Just a few days ago, Steve Bannon told the SCMP that he would like to see Chinese companies shut out from American capital markets. It appears Beijing is doing him one better.
Meanwhile, a growing number of sell-side strategists now see a protracted trade war as the 'base-case' scenario. The latest assessment from Rabobank concluded that it's extremely unlikely that either side will offer an olive branch in the near future: "That ship has sailed."
China is battening down the hatches for a "Long March" and doesn’t even want to talk to the US. In fact, Xi and Trump might not even meet at the end of June in Osaka, in which case there is no obvious off-ramp.
Hovering in the background is Steve Bannon's 'superhawkishness'. President Trump has already accomplished something incredible: He's united a disparate group of business leaders and politicians from both parties behind his hard-line approach. This might give him the cover he needs to ignore the market, at least until things start getting really bad.
In the mean time, expect more Chinese companies will demonstrate their 'independence' from American markets.
go right ahead-kiss of death listing on that exchange.
https://www.zerohedge.com/news/2019-05-24/chinas-largest-chipmaker-de-lists-nyse
re: de-listing
they should have never been listed on the NYSE in the first place but now they don't have to follow any of the "rules" on transparency if they follow through with it.
Not that the rules were ever enforced.
SEC=Melissa H.