2 May 2019 FT — Articles to Read

2 May 2019


Question: According to MSN: Money, what is the second largest nonessential cost for Americans?


Semenya loses case against testosterone rules – Pg. 4

–          These rules demand sportswomen with “differences in sexual development” (DSD) take drugs to lower their testosterone levels if they wish to complete in female middle-distance running events between 400m and a mile

–          The rule affects Ms Semenya who is hyperandrogenous and was born with elevated levels of testosterone

–          It argued rules to limit the hormone were necessary to ensure “fair competition”, suggesting women’s events would otherwise be dominated by DSD athletes, and transgender athletes seeking to compete in female categories


Convertibles boom raises hopes for prolonged China tech rally – Pg. 19

–          Convertible bonds grant investors the right to swap interest-paying debt for equity if the company’s shares rise to a pre-determined price

–          Investors typically get a lower coupon on the convertibles than regular bonds, in exchange for that option to own stock down the line.  The appeal for issuers – including fast-growing, lossmaking tech companies with irregular cash flows – is that they can raise money more cheaply than straight debt and without immediately diluting shareholders’ equity


Answer: Drinks!