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INHOUSE NEWSLETTER

What's important this week?

South China Morning Post
Hong Kong follows US Fed’s 25 basis point rate cut, just in time for city’s stalling economy and kickoff of Budweiser’s mega IPO

Hong Kong’s monetary authority cut its base lending rate for the second time this year in lockstep with the US Federal Reserve’s widely expected move overnight, reducing the cost of money just as a slowing local economy teeters on the brink of a technical recession.

Channel News Asia
Hong Kong central bank follows Fed cut, hopes for calm amid protests

The Hong Kong Monetary Authority (HKMA) cut interest rates for the second time this year on Thursday (Aug 19) and sought to lower borrowing costs for small businesses, as the economy took a knock from months of anti-government protests and fallout from US-China trade tensions.

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Wharton Business School
Chinese Investments in Africa: Four Anti-corruption Trends to Watch

U.S. enforcement authorities are increasingly targeting corrupt practices among Chinese companies in Africa. Four trends are worth watching, writes Chinwe Esimai in this opinion piece. Esimai is managing director and chief anti-bribery officer at Citigroup, where she oversees the firm’s global anti-bribery program. This article reflects her personal opinions.

REUTERS
Volcker rule dissenters have common theme: big banks now have too much latitude

The few U.S. regulators who have voted in dissent against revising the Volcker rule are sending a common message that banks have taken over the driver’s seat in defining proprietary trading, an outcome that makes nearly impossible supervision and enforcement of the post-financial crisis rule aimed at limiting the risky activity.

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THE WALL STREET JOURNAL
SEC Charges Third Cognizant Executive With Foreign Bribery

Cognizant Technology Solutions Corp.’s former chief operating officer has agreed to pay a $50,000 fine to settle civil charges that he helped authorize and conceal a bribe paid to an Indian official.

REUTERS
Facebook met UK officials three times before Libra announcement

Facebook met British finance ministry, central bank and regulatory officials in the weeks before making public its plans for the Libra digital currency, responses to Reuters freedom of information requests show.

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THE DIPLOMAT
Japan’s Latest Cabinet Reshuffle Plagued by Bribery Scandal

Vice Minister for Health and Welfare Hiroshi Ueno announced his resignation following allegations he was seeking cash in return for inquiring on the status of pending visa applications. 

THE LOCAL
NSA whistleblower Edward Snowden wants asylum in France

Whistleblower Edward Snowden, living in Russia since leaking a trove of classified documents showing the scope of post-9/11 US government surveillance, wants to claim asylum in France.

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CNN
National intelligence chief faces deadline to turn over whistleblower complaint

Acting Director of National Intelligence Joseph Maguire faces a deadline Tuesday to turn over a whistleblower complaint that was never alerted to the House Intelligence Committee, whose chairman says he confronted the DNI over the matter.

Forbes
Johnny Burris, JP Morgan Whistleblower and American Hero

“I’m no hero,” Johnny Burris told me yesterday. “Fighting a desperate battle against one of the largest banks in the world that has unlimited financial resources doesn’t make me a hero.”

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REUTERS
Democratic White House hopeful Warren rails against corruption at big N.Y. rally

Democratic presidential candidate Elizabeth Warren on Monday denounced the corruption she argues has crippled the country’s politics and economy, drawing her largest crowd thus far in a sign of her campaign’s growing strength.

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Bloomberg
New Warren Plan Would Build a Wall Between Lobbyists and Policy

Elizabeth Warren rolled out a sweeping anti-corruption plan Monday that would toughen rules for wealthy and influential figures seeking to influence policy, hours before she intends to pitch it to voters in Wall Street’s back yard.

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REUTERS
European powers urge Iran to return to nuclear accord compliance

 France, Britain and Germany, the European parties to Iran’s nuclear accord, on Friday expressed deep concern at Tehran’s violations of the 2015 deal and urged it to cooperate with the U.N. nuclear watchdog.

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