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Reuters (July 27)

2017/ 07/ 28 by jd in Global News

“British-based investment firms’ long-standing ability to manage billions of euros of assets elsewhere in Europe could be threatened by Brexit.” Newly issued EU guidance suggests regulators will crack down on “delegation” with the aim of preventing investment firms from “setting up ‘empty shell’ subsidiaries in an EU country, to allow them to continue serving European clients, but leaving the bulk of their management staff and operations in London.”

 

Wall Street Journal (May 28)

2015/ 05/ 29 by jd in Global News

JPMorgan’s CEO Jamie Dimon told the “the truth about proxy advisory firms” when he urged investors not to blindly follow their guidance on corporate governance and shareholder votes. Firms like Institutional Shareholder Services Inc. and Glass Lewis & Co. “have enjoyed far too much influence over companies they don’t own and been subject to far too little scrutiny given their potential conflicts of interest.”

 

Financial Times (October 25)

2013/ 10/ 26 by jd in Global News

“A painful and protracted hangover from the financial crisis has slashed demand for cars in Europe, forcing mainstream manufacturers to close factories, lay off workers and fill their financial statements with red ink.” Despite these measures, however, the industry is still struggling with overcapacity, compelling many global automakers to subsidize European losses with sales elsewhere. Providing a glimmer of optimism for Europe, however, Ford “called the bottom of the disastrous market slump on Thursday, the first carmaker confident enough to turn tentative hopes into official profit guidance and draw a financial line under six years of falling sales.”

 

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