United States

Ilfryn Carstairs, global chief investment officer at alternative investor Värde Partners, will become co-CEO from next year, while keeping his co-CIO title.

Online education platform Youdao is working with a pair of US banks for a potential New York listing, according to a source familiar with the matter.

Chinese robotics company CloudMinds has started sounding out investors for a $500m IPO of American Depository Shares (ADS) on the New York Stock Exchange, according to bankers close to the situation.

The S&P 500 may have closed above 3,000 on Friday, a new record high for the index, but flow data suggests that few active managers are taking advantage of the bull market in primary or secondary.

Six months after receiving the licence to rate Chinese domestic issuers and their issuance programmes, S&P Global (China) Ratings has provided its first rating in the Mainland.

China’s Wanda Sports Group began a week-long bookbuild on Monday morning, with a plan to raise as much as $500m on the Nasdaq.

Tobam, the French asset manager, is ensuring its fixed income portfolios have carbon footprints at least 20% smaller than those of their reference benchmarks, extending a policy already in place for equity portfolios. It is focusing on the carbon footprint of issuers, rather than individual issues, meaning that it would ignore the specific environmental qualities of a green bond.

In this round-up, GDP growth slowed in the second quarter, exports to the US dropped further and total social financing growth showed the need for more policy easing

The financial institutions bond market is showing no signs of fatigue in Europe, with US financial services company Jefferies Group preferring euros over dollars for the first time since 2014 on Friday. There was some debate about fair value for its €500m deal, given the lack of outstanding comparables.

In this round-up, trade talks resumed on shaky ground, the insurance regulator tightened rules on trusts investing in real estate companies, the State Council promised to ease the tax burden for smaller enterprises and the government completed the takeover of Anbang Insurance

In this round-up, S&P Global’s wholly-owned China unit gave its first onshore rating to ICBC Leasing, Italy will strengthen ties with the Mainland through a Panda bond and Bond Connect volumes rise.

Nationwide Building Society and Mitsubishi UFJ Financial Group joined in a Yankee stampede to the dollar market on Thursday, as issuers exploited red-hot funding conditions while markets rallied on a dovish message from US Federal Reserve chairman Jerome Powell.