Happy hump day!
It's been quite a few days over at the Big Board (aka the New York Stock Exchange). On December 31, the exchange announced it intended to delist three major Chinese telecom companies — China Telecom, China Mobile, and China Unicom Hong Kong.
The announcement was a result of an executive order signed by President Donald Trump back in November requiring US investors to exit positions in Chinese companies that could be considered a threat to US national security.
Fast forward to Monday night and NYSE has essentially asked for a mulligan, calling off the delisting of the three companies. Details around how the reversal came about are sparse, with NYSE citing "further consultation with relevant regulatory authorities" in its announcement of the u-turn.
The move was made in part due to uncertainty around guidance from the US Department of Treasury over whether the executive order applies to the three companies, a source familiar with the situation told Insider.
While the three companies enjoyed a nice pop in trading on Tuesday, they aren't out of the woods just yet. Should further guidance be given, there is a chance they could still be delisted, the source added.
On Tuesday, Bloomberg reported NYSE might still revert to its original plan to delist the companies following Treasury Secretary Steven Mnuchin reaching out directly to NYSE president Stacey Cunningham.
Meanwhile, the industry has been left scratching its head. A source at one firm that deals in American depositary receipts (ADRs) — the securities that allow US investors to trade in foreign companies — told Insider it's just as confused about what the future holds.
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Here's the gender breakdown at 21 of the biggest unicorns including Stripe, 23andMe, and Affirm.
Board diversity is top of mind following Nasdaq's announcement of a proposal requiring companies to have better representation among their executives.
Bradley Saacks and Sawyer Click decided to dive into the boards of 21 of the biggest startups — including 23andMe, Stripe, and Affirm — to see how well women are represented.
Of the 153 board seats, only 31 were held by women.
Check out how each startup stacks up. And while you are at it, dig into Alyson Shontell's analysis of the lack of female-founded companies that IPO.
Click here to read the entire story.
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