If you’ve been following IPO news, or stock market news, or any investment news over the past six months, you will have heard references to blank-check companiesspecial purpose acquisition companies, or SPACs. Most recently, you might have heard about them in the context of General Motors (GM) and Nikola (NKLA).

Here’s the backstory. General Motors made an announcement in September 2020 that it was getting into a “strategic partnership” with Nikola, an electric vehicle company that had not yet manufactured a product. According to the terms of the agreement, GM would receive an 11% equity stake in Nikola in exchange for manufacturing the Nikola Badger pickup truck using GM’s own hydrogen fuel cell and battery technologies.

A couple of days after the deal was announced, Hindenburg Research published a report called ‘Nikola: How to Parlay an Ocean of Lies Into a Partnership With the Largest

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By Huw Jones

LONDON, Sept 2(Reuters)Detailed analysis is needed before the European Union can decide on long-term access for the London Stock Exchange LSE.L to clear euro denominated derivatives for customers in the bloc, a European Central Bank official said on Wednesday.

The LSE dominates euro derivatives clearing and EU policymakers have called for the activity to be relocated to the bloc given that Britain will no longer have to comply with EU rules after Dec. 31 when a post-Brexit transition period ends.

The EU’s executive, the European Commission, has said it will grant Britain “time limited” clearing access from January to allow the bloc to build up its own euro clearing capacity and avoid disrupting markets.

Klaus Loeber, a senior supervisor at the ECB, was being quizzed by members of the European Parliament on Wednesday about his appointment as chair of a new EU clearing committee

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