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People’s Bank of China Names Two New Deputy Governors

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China’s central bank is experiencing some senior executive shuffles. The People’s Bank of China named two new deputy governors. Guo Qingping was internally promoted from assistant governor to deputy governor. The People’s Bank of China hired Fan Yifei who comes from sovereign wealth fund China Investment Corporation (CIC) where he was an executive. At one time, Fan was chairman of the Bank of Shanghai. The Communist Party of China’s organization department selects senior people for senior positions at the central bank.

Leaving the People’s Bank of China is Deputy Governor Hu Xiaolian who was appointed new chairman of Export-Import Bank of China. Hu was head of the bank’s Shanghai branch. The other move was Deputy Governor Liu Shiyu who left the central bank to become chairman of Agricultural Bank of China Ltd.

DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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Marsh & McLennan Companies to Acquire JLT Group

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Marsh & McLennan Companies, Inc. (MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc (JLT), a provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The transaction has been approved by the Board of Directors of each of MMC and JLT. JLT’s largest shareholder, Jardine Matheson Holdings, and JLT directors who collectively represent 40.5% of the issued and outstanding JLT shares in support of the transaction.

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Indigo Ag Raises Series E Round

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Indigo Ag, Inc. raised US$ 250 million in a Series E funding round. The company is focused on creating innovative microbial products that increase crop yields in the face of environmental, disease, and pest stress. The investors in this round include Baillie Gifford, Investment Corporation of Dubai, the Alaska Permanent Fund Corporation, and the company’s founder, Flagship Pioneering. After the Series E, in total, Indigo has raised over US$ 650 million.

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