LONDON (Reuters) – The London Stock Exchange

said its pan-European share trading arm Turquoise will offer trading in EU-listed shares on its Dutch platform from the end of next month if there is no agreement on future direct access to the bloc by then.

Brussels is assessing whether to allow Britain’s financial sector to serve EU investors under its “equivalence” system, which checks if UK market rules are as robust as those in the EU.

After Britain left the EU last January, direct access to the single market under transition arrangements ends on Dec. 31.

“Turquoise can confirm that it is planning on invoking its Brexit contingency plans on Monday 30 November 2020, unless relevant equivalence decisions to allow cross-border services between the EU and UK are agreed prior to this date,” the UK exchange said in a statement. All shares would still be available for trading in London as well.

The LSE set up its Dutch hub as insurance against no direct access to EU investors.

CBOE, the biggest pan-European share trading platform, which is based in London, has also set up a hub in Amsterdam that is already open for business but with little trading so far, while London-based Aquis Exchange has set up its Brexit hub in Paris.

Without equivalence, EU investors would have to trade EU companies inside the bloc, even though many of them are heavily traded in London.

Banks have warned that fragmenting trading liquidity would make markets less efficient for users.

(Reporting by Huw Jones; Editing by Susan Fenton and Mark Potter)

Copyright 2020 Thomson Reuters.

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SHANGHAI (Reuters) – China’s move to cool a rising yuan stands little chance of stopping further gains, international banks say, as the strength of the world’s number two economy and a near-record yield advantage drive big and steady inflows.

Over the weekend, the People’s Bank of China (PBOC) scrapped a requirement for banks to hold a reserve of yuan forward contracts, removing a guard against depreciation and sending the currency down 1% for its steepest drop since March.

Yet an identical move three years ago ultimately proved ineffective, and investors say this time the conditions are even more likely to buoy the yuan, perhaps as far as 6.5 per dollar.

“In all previous instances, the impact of the regulatory change was temporary,” said Eugenia Victorino, head of Asia strategy at Swedish bank SEB in Singapore.

“We continue to expect the yuan to remain on an appreciation trend, with USD/CNY approaching 6.60 by end-2021,” she said.

Goldman Sachs forecasts yuan, last quoted at 6.7436

, will hit 6.5 per dollar in 12 months.

Much as in 2017, the PBOC’s move follows a long spell of appreciation. The yuan has strengthened more than 6% since late May and just closed its best quarter in a dozen years as China leads the world out of the coronavirus pandemic and soaks up capital flows.

Foreign holdings of Chinese government debt rose at the fastest pace in more than two years last month, with the spread between Chinese

and U.S. 10-year

government bond yields holding near record highs scaled in July. In another nudge for the yuan to weaken, Beijing granted $3.4 billion in outbound investment quotas last month, the first fresh permission for such flows since April 2019.

Yet analysts say China’s economy, projected to keep growing as the rest of

Video: Welfare recipients eligible for two cash payments of $250 (ABC NEWS)

Welfare recipients eligible for two cash payments of $250



By Paulina Duran

a sign in front of a tall building in a city: FILE PHOTO: The logo of the National Australia Bank is displayed outside their headquarters building in central Sydney

© Reuters/DAVID GRAY
FILE PHOTO: The logo of the National Australia Bank is displayed outside their headquarters building in central Sydney

SYDNEY (Reuters) – National Australia Bank , the country’s third largest lender, has admitted to misleading customers more than a thousand times in a lawsuit accusing its financial planners of charging fees for no service, according to court documents.

According to an Oct. 2 document on agreed statements of facts and admissions filed with the Federal Court, the bank admitted to some but not all of the accusations levelled at it by the Australian Securities and Investments Commission (ASIC).


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NAB clients received written statements that contained service representations that were “misleading or deceptive or likely to mislead or deceive” on 1,485 occasions, the document said.

On another 225 occasions, the bank failed to provide clients with fee disclosure statements in a timely manner as required by law, it also said.

In December 2019, the regulator accused NAB of 8,927 cases of fees for no service and 3,420 instances of unconscionable conduct. ASIC said the fees were even charged to customers during 2018 Royal Commission hearings into misconduct in the financial sector, at which the bank’s executives defended the practice.

The bank declined to comment on the case – the second ‘fees for no service’ case brought against it by ASIC. Last month, Australia’s federal court fined pension funds run by NAB A$57.5 million ($41 million) for charging fees with no service to thousands of retirees.

The bank began implementing a program in December 2018 to refund financial planning clients who had paid fees but not received the required

A little more than a year ago, we covered The Joint Corp. (JYNT), a small-cap specialized franchisor of chiropractic clinics in the United States. The company initially grabbed our attention because of its snowballing expansion over the past few years, causing shares to jump from $2 to $20 during a relatively short period of time.

Source: Google Finance

We are particularly interested in franchises with the potential to scale, as many successful brands have utilized this type of business model to grow rapidly, with limited capital intensity. We have previously discussed such cases in our recent Domino’s Pizza and Dunkin’ Brands articles.

In this article, we will:

  • Discuss The Joint Corp.’s business model and financials.
  • Assess the stock’s valuation and investor returns.
  • Conclude why The Joint Corp. could provide a profitable investment opportunity, though risks remain.

Source: shesafitchick

Business model and financials

Over the past few years, The Joint Corp. has revolutionized access to chiropractic services since it launched its retail healthcare business model in 2010. The company strives to make quality care convenient and affordable while ending the need for insurance for millions of patients seeking pain relief and long-term wellness.

From the get-go, we are particularly excited about investing in the wellness space. Wellness, in general, has been gaining increasingly more attention, with practices like meditation and yoga undergoing a propelling trend. The company is capitalizing on this trend by offering chiropractic services at an affordable price. An appointment which normally costs around $77 is offered at $29 – a significantly lower price. While the sessions are provided on the cheap, each location’s operations are able to maintain profitability through increased volume. Management estimates that average patient visits per clinic are around 600/month in general clinics, vs. 1,350+/month in its own branded clinics. COVID-19’s staying-at-home way of life

Cristiano Ronaldo’s legal fight against a woman who accuses the international soccer star of raping her in his suite at a Las Vegas resort more than 10 years ago is heading toward a trial before a federal judge in Nevada.

No date was immediately set, but U.S. District Judge Jennifer Dorsey said she will hear arguments and decide herself whether Kathryn Mayorga was mentally fit to enter a 2010 hush-money agreement with Ronaldo’s representatives that paid Mayorga $375,000.

Ronaldo’s attorney, Peter Christiansen, declined to comment on Tuesday.

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Mayorga’s lawyers, led by Leslie Mark Stovall, did not immediately respond to email and telephone messages about the judge’s ruling, issued Sept. 30.

Dorsey wrote that a court should decide whether Mayorga “lacked the mental capacity” to sign a confidentiality arrangement with Ronaldo’s representatives and “whether any agreement … was ever formed between the parties.”

It was not immediately clear whether Ronaldo or Mayorga will have to be in court in person when a trial is held.

The Associated Press generally doesn’t name people who say they are victims of sexual assault. But after filing her lawsuit against Ronaldo in October 2018, Mayorga gave consent through her attorneys to be identified.

Dorsey gave both sides until the end of November to agree upon a plan for a bench trial.

Christiansen could appeal Dorsey’s order to the 9th U.S. Circuit Court of Appeals. He declined to say whether he will do so.

The ruling represents a setback for Ronaldo’s legal representatives, who have so far kept details of the 2010 settlement sealed. It moves back to a public court questions that U.S. Magistrate Judge Daniel Albregts said in February belonged behind closed doors.

U.S. district judges can overrule magistrate judges, who handle court filings and pretrial arguments.

Ronaldo, 35, lives in Portugal