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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
The New York Stock Exchange is moving its 143-year-old Chicago operation to Dallas in a bid to lure new listings to what the bourse described as a “pro-business” state.
The New York institution’s move poses a direct threat to a brand new group, the Texas Stock Exchange, which last month applied to officially register with the Securities and Exchange Commission.
Texas has sought to position itself as a corporate mecca, luring company headquarters and domiciles to the state with the promise of light touch regulation and low taxes.
Over the past decade more than 300 companies have relocated their headquarters to the state, according to the Texas governor’s office, including Tesla, Hewlett Packard Enterprise, Chevron and Charles Schwab.
More recently the state has sought to broaden its appeal beyond brick…
