In this Issue:
United States
1. FTC abandons challenge to Philadelphia hospital merger.
On March 1, 2021, the FTC, suffering its first loss in a hospital merger challenge since 2016, voted 4-0 to end its effort to stop the proposed $599 million merger of Philadelphia-area health care systems Jefferson Health and Albert Einstein Healthcare Network. The FTC’s decision comes about a month and a half after the Pennsylvania Attorney General’s office dropped out of the joint challenge.
The FTC challenged the merger on the basis that it would hurt competition in the Philadelphia-area health care market, and after a defeat at the district court, told the appellate court that the judge had applied “faulty economic reasoning.” The FTC alleged that a combined network would control over 60% of the market for inpatient general acute care services in and around North Philadelphia and at least 45% of the market for those services in and around Montgomery County. The FTC alleged that t
Chinese regulators fine Alibaba record $3.7b
Matthew Walsh, Qian Tong and Yuan Ruiyang
Apr 11, 2021 – 9.47am
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Beijing | China’s market regulator said on Saturday it had fined Alibaba Group a record 18.2 billion yuan ($3.7 billion) for violating antitrust laws, marking a seismic moment in the government’s quest to rein in monopolistic behaviour by online platforms.
A four-month investigation by the State Administration of Market Regulation (SAMR) concluded that the e-commerce titan unfairly squeezed out competition among online retail platforms by forcing vendors to choose between its services and those of its rivals.
China’s authorities have been cracking down on its home-grown financial titans, such as Alibaba’s Jack Ma.
YINN and YANG: ETFs for Both Sides of the China Trade
ETF traders looking for an inverse angle on China funds have been having some success with the
Daily FTSE China Bear 3X Shares (YANG). The fund is up 5% the past month, but are the bulls ready to start galloping to the upside again?
YANG seeks daily investment results equal to 300 percent of the inverse (or opposite) of the daily performance of the FTSE China 50 Index. The index consists of the 50 largest and most liquid public Chinese companies currently trading on the Hong Kong Stock Exchange (“SEHK”).
The fund, under normal circumstances, invests at least 80% of its net assets in financial instruments such as swap agreements, and securities of the index, ETFs that track the index, and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index.
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