United States

The United States’ top derivatives regulator, Commodity Futures Trading Commission (CFTC) chair Christopher Giancarlo, this week apologised for his organisation’s past regulatory overreach in policing foreign derivatives markets and called for a “reset” in relations with the European Union. The Europeans would be wise to take him up on his offer.

The buyers of Thomson Reuters’ Financial & Risk business on Wednesday launched roadshows for $5.5bn equivalent of high yield bonds across two tenors and in dollars and euros, following the launch of $8bn of loans for the buyout on Tuesday.

Chinese mobile content aggregator Qutoutiao has hit the play button on its US IPO, targeting $144m from an offering of American Depository Shares (ADS).

A group of investors have taken Snap, the photo messaging company beloved by millennials, to court in California, alleging they were misled during the IPO process. They have filed a motion to have the case made into a class action suit, which might mean that it will rumble on for years at the company’s expense.

Two global initiatives aiming to improve transparency in markets have announced a partnership to link codes that identify market participants and the financial instruments they trade.

Cinnober Financial Technology has appointed three individuals to key roles across its business, including Fredrik Nihlén as group CFO.

The furore over Elon Musk’s public declaration that he was seeking to take Tesla private ended, when he reversed his decision last week. Tesla’s equity and debt holders must assess whether they are comfortable with Musk retaining almost sole control over corporate strategy.

Two major derivatives industry trade bodies have warned of “fragmentation” and a “severe” impact on cross-border derivatives activity if a looming clearing deadline for certain intragroup transactions is not sufficiently extended.

Chinese biotechnology firm Zai Lab is tapping equity investors for around $150m, hitting the market with a follow-on sale of American Depository Shares (ADS).

LAIX, which runs English teaching app Liulishuo, is planning to float on the New York Stock Exchange for up to $100m.

The leveraged loan pipeline for September coughed into life this week, as AkzoNobel Specialty Chemicals unveiled the first jumbo deal of the week, a €5bn loan to support its buyout by Carlyle and Singaporean government fund GIC.

Chinese integrated online healthcare provider 111 has opened books for its IPO of American Depository Shares (ADS), which is slated to raise $148.8m.