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Trump reportedly wants to pull the US out of the WTO
According to news website Axios, Trump has repeatedly asked his advisers about pulling the US out fo the WTO and said that the rest of the world uses the organisation to “screw the United States.”
Thr WTO is the international body that helps to settle trade disputes using a rules-based system, theoretically ending unfair trade practices and tamping down the threat of trade wars. The organisation grew out of the General Agreement on Tariffs and Trade and was officially founded in 1995.
Removing the US from the WTO would undermine the legitimacy of the organisation, remove the largest economy from it, and ignite the possibility that countries would no longer follow the system of trade rules created by the international community.
Bridgewater Associates changing up management structure
Bridgewater Associates, the world’s largest hedge fund, is reportedly giving more control to its top executives, the latest move as billionaire founder Ray Dalio takes a lesser role managing the $US150 billion firm’s day-to-day operations.
“This will both broaden the ownership across the firm and help us remain employee controlled for generations to come,” Bridgewater’s co-chief executives, David McCormick and Eileen Murray, wrote in a Thursday letter to clients that was reviewed by The New York Times.
Last year, Dalio announced he would step down from managing the firm, Business Insider reported at the time. According to a client note from the time, Dalio said he expected “to remain a professional investor at Bridgewater until I die or until those running Bridgewater don’t want me anymore.”
Investors are torn over whether AppNexus’s sale to AT&T was a ‘great exit’ or a total failure
When news began circulating of an imminent acquisition deal between AT&T and AppNexus during Cannes Lions, the companies demurred, noting that rumours abound at the event. But just a few days later, AT&T confirmed it had finally scooped up the programmatic advertising marketplace.
The news ricocheted through a giddy ad-tech industry.
The reported deal price has split executives and venture capitalists who work in the ad-tech industry into two camps: those that believe the deal was excellent, and those that think it could’ve been better.
In markets news
- BANK OF AMERICA: Global markets are echoing the 1998 financial crisis and there’s evidence for another crash
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