Eurozone officials have expressed disquiet over what they say is a disproportionate number of Germans on the European Central Bank staff, and statistics show more employees come from Germany than from France, Italy and Spain combined. "Nationality shouldn't matter in principle, but of course it does," says ECB economist Carlos Bowles.
The UK Prudential Regulation Authority is much more specific and personal when writing to banks than was predecessor Financial Services Authority, according to a Bank of England blog post.
The International Organisation of Securities Commissions has concluded a single formula is impossible to measure and compare leverage used by investment funds. IOSCO is developing a mix of approaches as benchmarks for evaluation.
The European Central Bank is concerned a trade war could make the economic outlook uncertain and create obstacles to stimulus withdrawal. A trade war could undercut economic growth and "conspire to reduce our confidence in the inflation path", President Mario Draghi says.
The ChiNext index of Chinese startups has gained 6.4% this year, after declining 11% last year. A shift in investor appetite is cited for the turnaround, and fund managers predict sustainable growth.
The US government moved closer to a partial shutdown when House Republican leaders could not come up with votes to pass a $1.3 trillion omnibus spending bill. Action on the measure was held up by partisan differences on several issues, including the border wall President Donald Trump favors.
The White House is close to imposing restrictions on Chinese trade with the US and investment in US companies, two administration officials said. President Donald Trump is expected to present the results Thursday of US Trade Representative Robert Lighthizer's investigation into claims that China coerces US companies into transferring intellectual property.
Most Asian-Pacific stock markets gained Wednesday as investors waited to see whether the Federal Reserve will raise interest rates again. Hong Kong's Hang Seng Index was off 0.4%; Australia's S&P/ASX 200 rose 0.2%; China's Shanghai Composite lost 0.3%; South Korea's Kospi was flat; India's Sensex was up 0.4%; and Japan's markets were closed for a holiday.
Chinese companies account for 69% of the world's corporate debt with embedded put options, which allow holders to demand repayment immediately, according to Bloomberg data. Rating agencies expect the default rate for the $668 billion worth of debt to increase this year.
Talks between a special committee that advises Nordstrom's board and a group of Nordstrom family members about taking the retailer private have ended. The two sides couldn't agree on the company's value.