China bans risky trusts from selling wealth products for LGFVs

China bans risky trusts from selling wealth products for LGFVs

CHINA told some trust companies to stop raising money from individuals to fund local government financing vehicles, according to people familiar with the matter, in its latest effort to curb growing financial risks. The National Financial Regulatory Administration (NFRA) recently banned some lower-rated trust firms from selling wealth products underpinned by LGFVs on concerns of…

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Did Open Portholes Cause Bayesian to Sink? Italian Authorities Launch Probe as Search Team Believes Mike Lynch and Daughter Hannah Could Still Be Alive

Did Open Portholes Cause Bayesian to Sink? Italian Authorities Launch Probe as Search Team Believes Mike Lynch and Daughter Hannah Could Still Be Alive

Italian authorities have launched an investigation to ascertain if open hatches left by crew members contributed to the dramatic sinking of tech tycoon Mike Lynch’s superyacht. The luxury sailboat Bayesian was moored off the coast of Porticello, near Palermo, Italy, when an unexpected waterspout struck the area just before 5 a.m. on Monday, causing the…

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