SECTIONS Search E-edition Customer Service Customer Service SacBee Rewards About Us About Us Contact Us Apps Mobile & Apps Twitter, Facebook, Google+, YouTube News in Education (NIE) Newsletters Local Sacramento Region Arena City Beat Crime Local Govt Salary Database The Homeless Marcos Bretón Transportation Education Environment Health & Medicine Traffic Conditions Weather Communities Elk Grove Folsom/El Dorado Roseville/Placer Yolo Sports Sports Kings NBA News 49ers Giants Oakland A's High School Sports Joe Davidson More Sports Raiders NFL News MLB News River Cats Soccer Colleges Golf Autos Racing Politics Politics Capitol Alert State Workers The California Influencer Series Local Elections PoliGRAPH State Worker Salary Database Legislative Gifts … [Read more...] about CalPERS new chief of investments returns after China stint
State administration of foreign exchange
America’s largest public pension fund has tapped a manager of China’s predatory investment fund as its next chief investment officer. The California Public Employees’ Retirement System, which manages $360 billion and is frequently described as the most influential pension fund investor in the U.S., has asked Ben Meng to take over the top investment job when its current chief departs at the end of the year, the Wall Street Journal reported Wednesday.In the Wall Street Journal’s report, Meng is described as an official of the State Administration of Foreign Exchange, China’s foreign-exchange and currency regulator. His job, however, is not writing regulations or supervising Chinese companies’ foreign exchange reporting. Meng, a former Wall Street bond trader, is a deputy chief investment officer of SAFE. This suggests his job was to invest the assets of SAFE, which is not just a regulator but also one of the world’s biggest sovereign wealth … [Read more...] about Official Tapped by Biggest U.S. Public Pension Fund Worked for Predatory Chinese State Investment Fund
SHANGHAI (Reuters) - China's foreign exchange regulator handled a 20 percent increase in violations of forex regulations in the first half of the year compared with the same period of 2017, meting out 345 million yuan ($51 million) worth of fines across 1,354 cases, it said. The violations cited included carrying out false transactions involving fake receipts, poor due diligence and improper clearance of cross-border payments. The fines by the State Administration of Foreign Exchange, or SAFE, were up 60 percent from the amount in the first half of last year, it said in a statement online. Branches of major banks and online third-party payment platforms were among those penalized. The announcement comes at a time when the Chinese currency is facing renewed depreciation pressure following its worst month on record in June when it fell about 3.3 percent to the U.S. dollar. [CNY/] The yuan is down nearly 8 percent since the end of the first quarter. The forex regulator vowed to continue … [Read more...] about China regulator levies $51 million in forex-related fines in first half
SHANGHAI (Reuters) – Global market research and index company MSCI Inc will add roughly 230 China-listed shares to its emerging market benchmark in a two-step process starting on June 1, a move expected to drive a surge of foreign money into the country’s stock markets. MSCI’s decision a year ago to include yuan-denominated Chinese stocks, or “A-shares”, into its emerging market (EM) index triggered a rally in Chinese blue-chips in 2017, though the market has corrected this year amid rising borrowing costs and fears of a Sino-U.S. trade war. Foreign buying of Chinese stocks was tepid on Thursday on the last trading day before their inclusion. WHAT, EXACTLY, IS THE MSCI INCLUSION? The U.S.-based creator of widely-watched stock indices, is adding A-shares to its benchmark Emerging Markets and All Country World Index indices. The firms are predominantly blue chips such as SAIC Motor Corp <600104.SS> and liquor maker Kweichow Moutai Co Ltd … [Read more...] about What is China’s A-share MSCI inclusion on June 1?
Democracy Dies in Darkness Sections Home Try 1 month for $1 Username Sign In Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Subscribe Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Accessibility for screenreader Politics by Anne Gearan and Karen DeYoung by Anne Gearan and Karen DeYoung Email the author May 8 at 5:30 PM Email the author President Trump on Tuesday said he is pulling the United States out of the international nuclear deal with Iran, announcing that economic sanctions against Tehran will be reinstated and declaring that the 2015 pact was rooted in “fiction.” Trump’s decision, announced at the White House, makes good on a campaign pledge to undo an accord he has criticized as weak, poorly negotiated and “insane.” “The Iran deal is defective at its core. If we do nothing, we know exactly what … [Read more...] about Trump pulls United States out of Iran nuclear deal, calling the pact ‘an embarrassment’