A group of nine leading retail broker-dealers, banks, financial services firms, and global market makers, have agreed to launch an equities exchange, MEMX, or Members Exchange. The new exchange will be owned entirely by its founding members and will seek to deliver benefits to retail and institutional investors by introducing greater competition to the marketplace. MEMX will file an application with the Securities and Exchange Commission in early 2019 for approval to operate as a national securities exchange.
Favorable international demand and a recent discovery of lithium reserves in Brazil caused a rush for the metal, used in electrical batteries, reports the Folha de Sao Paulo. Two ongoing projects will elevate Brazil to the status of one of the world's largest lithium-producing countries in the next decade, according to data from the National Agency for Mining, ANM..
Asian equities and the euro sank Wednesday as turmoil in Italy sparked a frantic dash for safety, while investors have also been spooked by fresh worries about the China-US trade row. Global markets have been sent into a tailspin as a political crisis unfolding in Rome has thrust the stability of the Euro zone and European Union back on to the agenda.
Global markets fell Wednesday after more evidence emerged that the global economy is faltering fast and that the Euro zone is heading for a recession as the debt crisis spreads to the bigger economies like Italy and Spain.