- Deng Xiaoping. The Chinese People’s Daily newspaper, mouthpiece of the ruling Communist Party, has raised $245 million in that most capitalist of activities, an IPO.
Why is financial innovation less likely to produce beneficial social impact than innovation in other sectors?
Lord Turner, the Chairman of the Financial Services Authority, took this question as one of the themes of his lecture this week on “Securitisation, shadow banking and the value of financial innovation”:
Changes to the UK Corporate Governance Code, Stewardship Code and Auditing Standards: FRC starts consultation
Here is the Financial Reporting Council press release, which highlights the principal proposed changes to the Codes and Standards and contains links to the consultation documents.
“Among potential partners for the merger-and-bankruptcy plan being floated, Dewey has made overtures to New York-based Shearman & Sterling LLP; Greenberg Traurig LLP, which has roots in Miami; and Pittsburgh-based Reed Smith LP, these people said.
A Greenberg Traurig spokeswoman said: “We have a great deal of respect for Dewey LeBoeuf and their quality lawyers. It would be inappropriate for us to comment on market rumors.” At Shearman & Sterling, a spokesman said the firm “isn’t in discussions with Dewey & LeBoeuf concerning a merger.”"