Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
See which stocks are posting big moves after the bell on Monday, May 20.Market Insiderread more
Silicon Valley argues that Wall Street focuses too much on near-term profits — but investors have embraced money-losing biotech IPOs.Marketsread more
Iran has quadrupled its output of nuclear material amid rising tension with the U.S. and dangerous escalations in the Middle East.Energyread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
The announcement comes amid a wave of store closures across the country this year.Retailread more
"Unlike Bernie Sanders or Elizabeth Warren or Kamala Harris, Biden's against 'Medicare for All,'" the "Mad Money" host says.Mad Money with Jim Cramerread more
"As long as President [Donald] Trump believes that the Chinese are the ones who pay the price, he's going to keep taking a hard-line approach to these negotiations," Cramer...Mad Money with Jim Cramerread more
Sens. Mitch McConnell and Tim Kaine introduced a bill Monday that would raise the minimum age to buy tobacco to 21 in hopes of curbing what regulators are calling an...Health and Scienceread more
Equity index provider MSCI on Tuesday said it will not add China's mainland-based A shares to its benchmark emerging markets index but that the shares will remain on review for a possible move in 2015.
China, the world's largest emerging market, is already the biggest component of the MSCI emerging market index, which is benchmarked by more than $1.3 trillion global assets under management.
China's current share of the index, however, is composed of shares listed in Hong Kong, or listed in China but denominated in U.S. or Hong Kong dollars.
MSCI said in March that it planned to include China A-shares in its benchmark emerging markets index as early as next May. The move was expected to help the index better reflect China's equities markets.
China's so-called A-shares are the renminbi-denominated shares of companies incorporated in mainland China and traded on the Shanghai and Shenzhen exchanges. For foreign investors to gain access to the A-shares market, they must do so through a quota system known as the Renminbi Qualified Foreign Institutional Investor (RQFII) scheme.
Recent expansion of the quota system, allowing for greater foreign investment in the A-shares market, had prompted major index providers like FTSE and MSCI to begin eyeing the inclusion of A-shares in their benchmark indexes.
Chia Chin Ping, managing director at MSCI, had estimated that the inclusion of mainland listed A-shares in the index could move as much as $12 billion into China's struggling stock markets as mutual funds and pension funds reallocated their portfolios. But he told Reuters that no decision had been made, due to resistance by some funds.
While that resistance stems from the difficulties in accessing the onshore capital markets, Chinese authorities have taken steps in recent weeks to open more channels to market access, including announcing the launch of a landmark Hong Kong Shanghai stock connect scheme.
MSCI also said South Korea and Taiwan indexes will be removed from its review list for reclassification to developed markets. Each will remain in the emerging markets classification.
The index provider said it is no longer considering a public consultation on the potential exclusion of the MSCI Egypt index from its emerging markets index. It said the decision follows a substantial increase in the country's foreign currency reserves.