Good morning New York,
FT ALPHAVILLE
Dan has an in-depth look at Herbalife and the FTC.
Izzi sees a world of "inexhaustible monetary supply" beyond QE.
NEWS
Europe's biggest banks are on track to meet Basel III capital requirements three years ahead of schedule, according to the European Banking Authority. Banks had cut their aggregate capital shortfall with respect to the "fully loaded" 2019 Basel III requirements to €70.4bn as of December 2012, the EBA said (Financial Times).
Alibaba will not be listing in Hong Kong after all. Talks with the Hong Kong Stock Exchange broke down this week over a proposal by the company that leading executives should be allowed to nominate a majority of board directors. Alibaba is instead is now preparing to appoint banks for a listing in New York some time in 2014 (Financial Times).
Japanese companies are issuing long-term debt at their greatest pace since 1998. Total issuance of corporate bonds in the five to 10-year range is at just under Y3tn so far this year, as companies race to lock in low rates amid the effects of Abenomics (Financial Times).
Sweden raised $3.4bn from selling its remaining stake in Nordea. State ownership of the bank's shares dates back to the Nordic financial crisis of the early 1990s (Bloomberg).
