Though expected after its earlier move to cut its revenue forecast, Apple’s official quarterly profits reporting yesterday still disappointed, as the company posted its “first holiday-quarter drop in both revenue and profit...more
1/30/2019
/ Apple ,
Barclays ,
CBO Report ,
China ,
Class Action ,
Dark Pool ,
Federal Budget ,
Federal Funding ,
FinTech ,
Foreign Investment ,
Forex ,
Government Shutdown ,
Interest Rate Adjustments ,
Market Manipulation ,
Polar Vortex ,
Quarterly Report ,
Real Estate Investments ,
Securities Fraud ,
Social Media ,
Standard Chartered Bank ,
Trump Administration ,
UK ,
UK Brexit ,
US-Mexico Border Wall ,
Venture Capital
Uber’s throwing in the towel on Otto, its self-driving truck unit that was at the center of an IP-theft scandal with Waymo and will shift its focus to autonomous cars....more
7/31/2018
/ Barclays ,
Cambridge Analytica ,
CBS ,
Class Action ,
Dark Pool ,
Data Breach ,
Driverless Cars ,
Employee Benefits ,
Facebook ,
Food Supply ,
Forex ,
Hewlett-Packard ,
Imports ,
Investment Fraud ,
Kokesh v SEC ,
Morgan Stanley ,
Pensions ,
Securities and Exchange Commission (SEC) ,
Sexual Harassment ,
Stock Options ,
Tariffs ,
Uber ,
UK Brexit ,
White Collar Crimes
OMB official Kathleen Kraninger is likely to face serious questions as she takes to the Hill today to begin confirmation hearings for her surprise nomination to lead the Consumer Financial Protection Bureau. Why? Her lack of...more
7/19/2018
/ Administrative Appointments ,
Android ,
Antitrust Violations ,
Bondholders ,
China ,
Civil Monetary Penalty ,
Consumer Financial Protection Bureau (CFPB) ,
Dark Pool ,
Enforcement Actions ,
Environmental Violations ,
EU ,
FCC ,
Financial Regulatory Reform ,
Global Market ,
Google ,
Imports ,
Libor ,
National Emissions Standards ,
Netflix ,
Papa John's International ,
Radio Stations ,
Securities and Exchange Commission (SEC) ,
Senate Confirmation Hearings ,
SiriusXM ,
Smartphones ,
Tariffs ,
Technology Sector ,
Trade Relations ,
Trading Platforms ,
US Trade Policies ,
Volkswagen ,
Wendy's
Chalk up a major win for Carl Icahn. Icahn has forced Xerox’s CEO, Board Chair, and 5 other board members out of their jobs as part of a push by activist investors. The shake-up will jeopardize the company’s $6.1 billion...more
5/2/2018
/ ABC Test ,
Activist Investors ,
Barclays ,
CA Supreme Court ,
CFTC ,
China ,
Class Action ,
Credit Default Swaps ,
Dark Pool ,
EU ,
Facebook ,
Forex ,
Free Speech ,
Goldman Sachs ,
Google ,
Imports ,
Independent Contractors ,
Inflation Adjustments ,
Initial Public Offering (IPO) ,
Market Manipulation ,
Personal Data ,
Silicon Valley ,
Sprint ,
T-Mobile ,
Tariffs ,
Technology Sector ,
Telecommunications ,
US Trade Policies ,
Xerox
Breakingviews is raising an eyebrow at the news from yesterday about Broadcom’s unsolicited $105 billion offer for Qualcomm [the largest-ever proposed tech deal], especially in light of the “mountain of debt” Broadcom would...more
11/7/2017
/ Banking Sector ,
Barclays ,
Bitcoin ,
Class Action ,
Class Certification ,
Dark Pool ,
Digital Currency ,
EU ,
Financial Markets ,
Foreign Investment ,
Investment ,
Investment Management ,
MiFID II ,
Qualcomm ,
Regulatory Standards ,
Saudi Arabia ,
Sprint ,
T-Mobile ,
Technology Sector ,
Telecommunications ,
Trading Platforms ,
Virtual Currency ,
Wireless Industry
Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more
11/2/2016
/ Acquisition Agreements ,
Appraisal ,
Banks ,
Broker Commissions ,
Brokers ,
Class Action ,
Dark Pool ,
Department of Labor (DOL) ,
Employee Benefits ,
Exchange-Traded Products ,
Fiduciary Duty ,
Financial Institutions ,
Financial Markets ,
Goldman Sachs ,
Herbalife ,
Individual Retirement Account (IRA) ,
Inflation Adjustments ,
Merger Agreements ,
Merrill Lynch ,
Mortgage Lenders ,
Mortgages ,
Mutual Funds ,
Nasdaq ,
Nutritional Supplements ,
Pharmaceutical Industry ,
Retirement Plan ,
Settlement ,
Stocks ,
Takeda Pharmaceuticals ,
Trading Platforms ,
Valeant ,
Wells Fargo
Meanwhile, some banking officials—including a BOE representative speaking in NYC yesterday—contend that the legal expenses related to financial misconduct enforcement actions and litigation (roughly $275 billion for global...more
10/21/2016
/ Acquisitions ,
Banking Sector ,
Banks ,
Barclays ,
Broker-Dealer ,
Consumer Lenders ,
Dark Pool ,
Financial Markets ,
Hedge Funds ,
Internet Lenders ,
Investors' Exchange (IEX) ,
Nasdaq ,
Online Marketplace Lending ,
Tobacco
The Committee on Capital Markets Regulation—a nonprofit that represents execs from many of the US’s largest banks—will release a paper today arguing that the Fed illegally sidestepped the APA by adopting “central parts of its...more
9/15/2016
/ Agribusiness ,
Algorithmic Trading ,
Bank Accounts ,
Banks ,
Bayer ,
Bonds ,
Capital Markets ,
Dark Pool ,
Electric Vehicles ,
Financial Institutions ,
General Motors ,
Mergers ,
Monsanto ,
Pharmaceutical Industry ,
Securities and Exchange Commission (SEC) ,
Stress Tests ,
Transparency ,
Wells Fargo
In a move anticipated over the past year or so, Caliber Home Loans—with PE Lone Star Funds’ backing—is making more loans to “borrowers with spotty credit histories.” A euphemism for subprime, by the way. That targeting has...more
9/8/2016
/ Apple ,
Barclays ,
Class Action ,
Class Certification ,
Consumer Lenders ,
Cross-Selling ,
Cybersecurity ,
Dark Pool ,
EU ,
Financial Institutions ,
FinTech ,
Hackers ,
Interest Rates ,
iPhone ,
Misrepresentation ,
Mortgage Lenders ,
Mortgages ,
Real Estate Market ,
Shareholder Litigation ,
Shareholders ,
Subprime Loans ,
UK ,
Wells Fargo
In what would be the largest acquisition of a foreign corporation ever, state-owned ChemChina is nearing a deal to purchase Switzerland’s Syngenta (besting US-based Monsanto’s overtures to do the same). The deal could help...more
News has emerged from China that online finance company Ezubao, a purported peer-to-peer lender, was running a Ponzi scheme that “bilked investors out of more than $7.6 billion, spent lavishly on gifts and salaries and buried...more
Despite an annual growth figure (2.4%) that matched 2014, 2015’s anemic Q4 economic figures (a mere .7% growth) is adding yet more fuel to the fire of those concerned about the ability of the US economy to withstand global...more
Chinese economic data has already been wreaking havoc on markets in 2016. So I shudder to think about the impact of the recently announced investigation by China’s anticorruption commission into the head of the country’s...more
The US Treasury Department and IRS are joining forces to address corporate tax inversions with the introduction of new measures aimed at “curtailing companies’ ability to avoid United States tax rates if they move to...more