An effort by KKR to acquire a stake in Japan's Hitachi Kokusai Electric has succeeded, sources close to the matter said. KKR reportedly has acquired 26% of outstanding shares.
The Financial Industry Regulatory Authority is inviting comments on a series of changes in how it handles expungement requests. Among the proposals is the creation of a roster of arbitrators with additional training and specific backgrounds or experience to act on brokers' expungement requests.
Hartford Funds has brought to Nasdaq an exchange-traded managed fund focused on companies that deal with social and environmental challenges. Areas targeted by the Hartford Global Impact NextShares Fund include financial inclusion, resource stewardship and efficiency, alternative energy, sustainable agriculture and nutrition, education and training, affordable housing, health, clean water, and sanitation.
Foreign exchange futures "appear to be a cheaper alternative" to an equivalent over-the-counter trade, with potential savings of nearly $1.5 billion annually, according to a Greenwich Associates report. However, though "we have shown that there are many scenarios where futures are a logical choice versus an OTC trade, traders do not solely make decisions based on quantitative findings," the report says.
Futures commission merchants might add initial-margin requirements for bitcoin futures above what Cboe Futures Exchange and CME Group want to stem risk. "FCMs are already putting in their own limitations on trading bitcoin futures," said Lone Star Capital CEO Bo Collins.
Proposed tax changes could discourage small employers from offering 401(k) plans, as they would gain a tax advantage by dropping them, the American Retirement Association says. The organization wants the public to alert lawmakers about the situation, saying an estimated 24 million workers could lose 401(k) access if the "pass-through" tax rate proposal is not modified.
Much of America's predicted retirement crisis could be averted by auto-enrollment features in employee savings programs, supplemented by automatic annual increases in employee contributions, write professor Shlomo Benartzi and Nobel prize-winning economist Richard Thaler. They say this system helps savers overcome the natural human impulse to choose short-term rewards over long-term benefits.
Japan's SoftBank has agreed to increase its investment in satellite broadband startup OneWeb by $500 million, a source says, bringing its total investment in the company to roughly $1.5 billion. Greg Wyler, the startup's founder and executive chairman, says his company is preparing to build a new generation of satellites that can deliver faster internet speeds than other systems.
Food-delivery startup DoorDash is negotiating an investment of as much as $300 million from the SoftBank Vision Fund, sources say. DoorDash's competitors include Postmates, Grubhub and Uber Eats.