Electric truck-maker Lordstown (that “aimed to revive a shuttered General Motors factory in Ohio”) revealed this week in a regulatory filing that it does “not have enough cash to start commercial production of its electric...more
6/9/2021
/ Amazon Marketplace ,
Automotive Industry ,
Berkshire Hathaway ,
Carbon Emissions ,
Credit Cards ,
Electric Vehicles ,
Employee Incentive Plans ,
Foreign Currency ,
High Net-Worth ,
Inflation Adjustments ,
Initial Public Offering (IPO) ,
IRS ,
JPMorgan Chase ,
Online Banking ,
Renault-Nissan ,
Robinhood Financial ,
Startups ,
Tax Evasion
American Airlines is pushing forward with plans to furlough 19,000 workers this fall, even as the airline industry lobbies a stalemated Congress for another multi-billion dollar bailout. That figure, “when combined with the...more
8/26/2020
/ Amazon Marketplace ,
American Airlines ,
Antitrust Violations ,
App Store ,
Apple ,
Appraisal ,
Auto Parts ,
Coronavirus/COVID-19 ,
Corporate Culture ,
Currency Manipulation ,
EPIC ,
FinTech ,
Forbearance Agreements ,
Foreign Currency ,
Generic Drugs ,
Hiring & Firing ,
Infectious Diseases ,
Initial Public Offering (IPO) ,
Layoffs ,
McDonalds ,
Mortgages ,
Pharmaceutical Industry ,
Settlement Agreements ,
Tariffs ,
Teva Pharmaceuticals ,
U.S. Treasury ,
Video Games ,
Vietnam
Following recent histrionics from the White House, ByteDance, “the Chinese internet giant that owns TikTok, has offered to sell all of the popular video app’s American operations as a way to save the business from being...more
8/4/2020
/ 7-Eleven ,
Airlines ,
Apple ,
Chapter 11 ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
EU ,
Facebook ,
FinTech ,
Foreign Currency ,
Gas Stations ,
GDP ,
Hate Speech ,
Hertz ,
iPhone ,
Layoffs ,
Lord & Taylor ,
Microsoft ,
Mobile Apps ,
Mobile Payments ,
Online Advertisements ,
Payment Processors ,
Permanent Bans ,
Popular ,
Race Relations ,
Reputational Injury ,
Rupert Murdoch ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Startups ,
Tesla ,
TikTok ,
Trump Administration ,
Valeant
Rising infection rates around the U.S. and the globe are worrying markets, as fear of a second wave of cases linked with the reopening of the economy freaks out traders....more
6/15/2020
/ Amazon Marketplace ,
American Express ,
Apple ,
China ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Corporate Culture ,
Employer Liability Issues ,
Facebook ,
Federal Reserve ,
Financial Crimes ,
Financial Markets ,
Financial Services Industry ,
Foreign Currency ,
Google ,
Hertz ,
Liability ,
Microsoft ,
Nissan ,
Payment Processors ,
PayPal ,
Race Relations ,
Recessions ,
Recovery Plans ,
Small Business ,
Social Distancing ,
Square ,
Unemployment
The OCC announced yesterday that it’s bringing enforcement actions against five former Wells Fargo bank executives as part of their alleged roles in the bank’s sales practices scandal. The agency further revealed that it’s...more
1/24/2020
/ Apple ,
Board of Directors ,
Bribery ,
Broadcom ,
China ,
Climate Change ,
Consumer Financial Products ,
Corporate Executives ,
Credit Scores ,
Criminal Prosecution ,
Cross-Selling ,
Debt ,
Diversity and Inclusion Standards (D&I) ,
Enforcement Actions ,
EU ,
European Central Bank ,
Financial Crisis ,
Financial Markets ,
Financial Services Industry ,
Foreign Currency ,
Goldman Sachs ,
Healthcare Fraud ,
Infectious Diseases ,
Initial Public Offering (IPO) ,
Interest Rates ,
Loans ,
Microchip Technology ,
OCC ,
Opioid ,
Pain Management ,
Physicians ,
Popular ,
Prescription Drugs ,
Public Health ,
Racketeering ,
Underwriting ,
Wells Fargo
Jobs Report Friday again. Here’s what we’re watching, including the possibility of scary low numbers thanks to the only-recently-resolved GM strike....more
11/1/2019
/ Automotive Industry ,
Banks ,
China ,
Collective Bargaining ,
Commercial Bankruptcy ,
Corporate Taxes ,
Currency Manipulation ,
Deutsche Bank ,
Economic Development ,
Employment Contract ,
Federal Reserve ,
Fiat ,
Ford Motor ,
Foreign Currency ,
Gender Discrimination ,
General Motors ,
Interest Rate Adjustments ,
Inversion ,
Job Creation ,
JPMorgan Chase ,
Labor Relations ,
Office Space ,
Peugeot ,
Retailers ,
Russia ,
Sanction Violations ,
Sharing Economy ,
Strike ,
Tax Evasion ,
U.S. Treasury ,
UAW ,
Unions ,
Voluntary Disclosure
Fed Chair Powell, speaking at an economics conference in Denver yesterday, made news by indicating that the central bank would “once again begin expanding its portfolio of government-backed securities”—a shift in policy...more
10/9/2019
/ Advertising ,
Automotive Industry ,
Blacklist ,
Cambridge Analytica ,
China ,
Cryptocurrency ,
Data Breach ,
Digital Currency ,
Economic Downturn ,
EU ,
Facebook ,
Federal Reserve ,
Financial Regulatory Reform ,
Foreign Currency ,
General Motors ,
Global Economy ,
Government Securities ,
Human Rights ,
IMF ,
Johnson & Johnson ,
Manufacturers ,
Money Laundering ,
Netflix ,
New Legislation ,
Pharmaceutical Industry ,
Punitive Damages ,
Risperdal ,
Stock Prices ,
Technology Sector ,
Trade Wars ,
Trump Administration ,
Twitter ,
Volcker Rule ,
Wall Street
Paul Singer’s Elliott Management hedge fund revealed a $3.2 billion stake in AT&T and, along with it, a healthy-skepticism of the company’s 2018 purchase of Time Warner and general calls to divest as part of a 24-page letter...more
9/10/2019
/ Activist Hedge Funds ,
Activist Investors ,
Anti-Bribery ,
Appeals ,
AT&T ,
Competition ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
E-Cigarettes ,
Economic Downturn ,
En Banc Review ,
Facebook ,
Fannie Mae ,
FHFA ,
Food and Drug Administration (FDA) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Currency ,
Freddie Mac ,
Gig Economy ,
Google ,
GSE ,
Independent Contractors ,
Initial Public Offering (IPO) ,
Legislative Agendas ,
Lyft ,
Marketing ,
Misclassification ,
Monopolization ,
Nissan ,
No-Deal Brexit ,
Pending Legislation ,
Public Health ,
Recessions ,
Regulatory Violations ,
Ridesharing ,
Securities and Exchange Commission (SEC) ,
Share Price ,
SoftBank ,
Time Warner ,
Uber ,
UK ,
UK Brexit ,
Vaping
Man-of-the-people PM Boris Johnson is set to as the Queen to suspend parliament for 5 weeks in an attempt to squeeze the time for opposition to the October 31st Brexit deadline, a move that’s prompting concerns about a...more
8/28/2019
/ Administrative Appointments ,
Arby's ,
China ,
Commercial Bankruptcy ,
Consumer Financial Protection Bureau (CFPB) ,
Currency Fluctuation ,
Driverless Cars ,
Drug & Alcohol Abuse ,
Enforcement Actions ,
Federal Reserve ,
Foreign Currency ,
Google ,
Initial Public Offering (IPO) ,
Intellectual Property Protection ,
Interest Rate Adjustments ,
Johnson & Johnson ,
Misappropriation ,
Opioid ,
Pain Management ,
Papa John's International ,
Pharmaceutical Industry ,
Philip Morris ,
Prescription Drugs ,
Prime Minister ,
Public Benefit Corporation ,
Purdue Pharma ,
Reputation Management ,
Stock-for-Stock Merger ,
Theft ,
Trade Secrets ,
Trade Wars ,
Uber ,
UK ,
UK Brexit ,
UK Parliament
Les Wexner, the billionaire CEO of Victoria’s Secret and Bath & Body Works parent company L Brands, has accused his former money manager and confidant, Jeffrey Epstein, of misappropriating “vast sums of money” from Wexner and...more
8/8/2019
/ Amazon ,
America Invents Act ,
Banks ,
Bonds ,
Broadcom ,
China ,
Dodd-Frank ,
Federal Reserve ,
FedEx ,
Financial Crisis ,
Financial Markets ,
Foreign Currency ,
Government Agencies ,
Huawei ,
Misappropriation ,
Patent Trial and Appeal Board ,
Patents ,
Rating Agencies ,
Regulatory Oversight ,
Shipping ,
Symantec ,
Tariffs ,
Trade Wars ,
Trump Administration ,
Victoria Secret ,
Wall Street ,
Wealth Management ,
White Collar Crimes
Last week’s wild economic ride combined with China’s currency-devaluing response (and, arguably, months more of trade-war-driven global uncertainty) led to the worst day on Wall Street since last December, with the Dow...more
8/6/2019
/ China ,
Commercial Bankruptcy ,
Criminal Investigations ,
Currency Manipulation ,
Data Breach ,
Department of Justice (DOJ) ,
Exports ,
Federal Reserve ,
Financial Transactions ,
Foreign Currency ,
Grand Juries ,
Imports ,
Marriott ,
Media ,
Money Services Business ,
Opioid ,
Pain Management ,
Publishers ,
Quarterly Report ,
Subpoenas ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trade Retaliation ,
Trade Wars ,
Trump Administration ,
Tyson Foods ,
US Trade Policies
HSBC chief John Flint is out just 18 months after he assumed the role as head of the London-based bank, likely due to clashes with Board Chair Mark Tucker and the lender’s focus on expanding in China. HSBC also announced it...more
8/5/2019
/ Administrative Appointments ,
Blockchain ,
Bonds ,
Cancer ,
CBS ,
China ,
Credit Default Swaps ,
Derivatives ,
Digital Currency ,
Economic Downturn ,
EU ,
Exports ,
Federal Reserve ,
Financial Markets ,
Financial Regulatory Reform ,
Foreign Currency ,
HSBC ,
IMF ,
Imports ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
Job Creation ,
Johnson & Johnson ,
Layoffs ,
Patent Applications ,
S&P ,
Talent Management ,
Tariffs ,
Toxic Exposure ,
Trade Wars ,
Trump Administration ,
Unemployment ,
Viacom ,
Wal-Mart ,
Wall Street ,
World Bank
Apparently hoping to urge China off of its new go-slow tactic, the White House is applying its maximum pressure campaign again, announcing yesterday that the US will “impose a 10 percent tariff on an additional $300 billion...more
8/2/2019
/ Antitrust Investigations ,
Aviation Industry ,
Bank of England ,
Barclays ,
Benchmarks ,
Boeing ,
Bondholders ,
China ,
Facebook ,
Federal Trade Commission (FTC) ,
Foreign Currency ,
General Electric ,
Hedge Funds ,
Interest Rates ,
Job Creation ,
Layoffs ,
Puerto Rico ,
Restructuring ,
Stock Markets ,
Tariffs ,
Trade Relations ,
Trade Retaliation ,
Trade Wars ,
Unemployment ,
US Trade Policies
The Fed delivered on its expected quarter-point rate cut yesterday, the first decrease in short term rates since 2008. Fed Chair Powell cited “the implications of global developments for the economic outlook as well as muted...more
8/1/2019
/ Aluminum Sales ,
Bank of England ,
China ,
Commercial Bankruptcy ,
Currency Fluctuation ,
Elon Musk ,
Energy Sector ,
Exports ,
Federal Reserve ,
Foreign Currency ,
Interest Rate Adjustments ,
Investment Fraud ,
Nordstrom Inc. ,
Prior Authorization ,
Retail Market ,
Share Price ,
Shareholder Litigation ,
SolarCity ,
Tariffs ,
Tesla ,
Trade Relations ,
Trade Wars ,
Trump Administration ,
UK Brexit ,
Unemployment ,
US Trade Policies ,
White Collar Crimes
Samsung announced yesterday that it’s postponing the official mass-market introduction of its new foldable smart phone (originally set for the end of the week) based on reports that the pricey device has been malfunctioning....more
4/23/2019
/ #MeToo ,
Anheuser-Busch ,
Boeing ,
CFTC ,
China ,
Elon Musk ,
Facebook ,
Federal Reserve ,
Foreign Currency ,
Google ,
Heinz ,
Initial Public Offering (IPO) ,
Investment Fraud ,
Kraft ,
NVIDIA ,
Plant Based Products ,
Retailers ,
Safety Standards ,
Samsung ,
Sexual Harassment ,
Smartphones ,
Telecommunications ,
Tesla ,
Trading Platforms ,
Unicorns
Just days after Facebook announced its shift to more private communications, the company’s chief product officer (and longtime Zuck inner-circler) Chris Cox and WhatsApp head Chris Daniels are both heading out the door,...more
3/15/2019
/ Asbestos ,
Asbestos Litigation ,
Banks ,
Canada ,
China ,
College Admissions ,
Enforcement Actions ,
Facebook ,
Foreign Currency ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Initial Public Offering (IPO) ,
Interest Rates ,
Investment Fraud ,
Johnson & Johnson ,
Manufacturers ,
Mesothelioma ,
National Emissions Standards ,
Personal Care Products ,
Privacy Concerns ,
Securities and Exchange Commission (SEC) ,
Social Media ,
UBS ,
UK ,
UK Brexit ,
Volkswagen
Quite a start to the week for consulting powerhouse McKinsey & Co., with a Times expose on the questionable relationship between McKinsey’s clients and the investments its hedge fund has made in those same clients, not to...more
2/20/2019
/ 5G Network ,
Automotive Industry ,
Bank of New York (BNY) Mellon ,
China ,
Class Action ,
Class Certification ,
Commercial Bankruptcy ,
Conflicts of Interest ,
Consultants ,
Corruption ,
Criminal Prosecution ,
Cryptocurrency ,
Danske Bank ,
Data Privacy ,
Department of Justice (DOJ) ,
Emerging Growth Companies ,
Facebook ,
Failure To Disclose ,
Foreign Currency ,
Germany ,
Honda ,
Huawei ,
Initial Public Offering (IPO) ,
Money Laundering ,
PCAOB ,
Regulatory Agenda ,
RMBS ,
Securities and Exchange Commission (SEC) ,
Tariffs ,
Trade Relations ,
UK Brexit ,
US Trade Policies ,
White Collar Crimes ,
Wireless Technology
Federal prosecutors have opened a criminal probe into Huawei Technologies’ alleged theft of trade secrets from its US business partners, “including technology used by T-Mobile US Inc. to test smartphones.” The investigation...more
1/17/2019
/ Amazon Marketplace ,
American Depository Receipts (ADRs) ,
Bank of New York (BNY) Mellon ,
Content Publishing ,
Criminal Investigations ,
Dividends ,
Enforcement Actions ,
Financial Crimes ,
Foreign Currency ,
Goldman Sachs ,
Huawei ,
Initial Public Offering (IPO) ,
Intellectual Property Protection ,
Renault-Nissan ,
Smartphones ,
Sovereign Wealth Funds ,
T-Mobile ,
Theresa May ,
Trade Secrets ,
UK Brexit
More on yesterday’s news of a split power-generation division at GE, including why fixing the ailing business is such an important task for new CEO Larry Culp and what federal criminal and civil accounting probes mean for the...more
10/31/2018
/ Anti-Money Laundering ,
Chicago Mercantile Exchange (CME) ,
China ,
Criminal Prosecution ,
Cryptocurrency ,
Economic Development ,
EU ,
Foreign Currency ,
General Electric ,
Healthcare Fraud ,
Investment Fraud ,
Kickbacks ,
Pharmaceutical Industry ,
Pyramid Schemes ,
Sanctions ,
Spoofing ,
UK Brexit ,
Valeant
Swiss pharma giant Novartis has issued a $3.9 billion cash bid to buy Advanced Accelerator Applications, a French company [and spinoff of the organization in charge of the Large Hadron Collider] known for producing...more
10/31/2017
/ Banking Sector ,
Department of Labor (DOL) ,
Financial Markets ,
Foreign Banks ,
Foreign Currency ,
Forex ,
Market Manipulation ,
Novartis ,
Personal Jurisdiction ,
Pharmaceutical Industry ,
Retailers ,
Sears ,
SoftBank ,
Sprint ,
T-Mobile ,
Telecommunications ,
White-Collar Exemptions ,
Wireless Industry
The Times’ tech guru—Farhad Manjoo—gets all indignant regarding the Equifax breach. Namely, if Equifax can’t handle its one job of safeguarding personal info, should it really be allowed to keep going at all now?...more
9/11/2017
/ Amazon Marketplace ,
Blockchain ,
China ,
Costco ,
Credit Reporting Agencies ,
Cryptocurrency ,
Data Breach ,
Digital Currency ,
Equifax ,
FinTech ,
Foreign Currency ,
Foreign Investment ,
Hurricane Irma ,
Personally Identifiable Information
Mylan will pay $465 million to federal authorities to resolve claims that it overcharged the Medicaid program by millions for its EpiPen products. Though large, the figure represents about a third of the estimated...more
8/18/2017
/ Alibaba ,
AT&T ,
Berkshire Hathaway ,
Currency Exchange ,
False Claims Act (FCA) ,
Financial Markets ,
Foreign Currency ,
Forex ,
Goldman Sachs ,
Insider Trading ,
JPMorgan Chase ,
Medicaid ,
Morgan Stanley ,
Mylan Pharmaceuticals ,
Pharmaceutical Industry ,
Prescription Drugs ,
S&P ,
Takeover Bids ,
Time Warner ,
UBS
Several members of healthcare hedge fund Deerfield Mgmt have been implicated in an insider-trading case over the alleged use of confidential information about gov’t financing to trade shares in affected health care companies....more
5/25/2017
/ Best Interest Contract Exemptions ,
BNP Paribas ,
Conflicts of Interest ,
Employee Retirement Income Security Act (ERISA) ,
Exploration and Production Assets ,
Fiduciary Rule ,
Financial Institutions ,
Financial Markets ,
Foreign Currency ,
Forex ,
Hedge Funds ,
Insider Trading ,
Interest Rate Adjustments ,
Investment Management ,
Market Manipulation ,
Moody's ,
Oil & Gas ,
OPEC ,
Rating Agencies ,
Retirement Plan ,
Silicon Valley ,
SoftBank
The Times gives us an intriguing long read on Uber’s Travis Kalanick, the controversial CEO whose vision has helped propel the ride-hailing company even as his no-limits approach has led the company into months of crisis....more
4/24/2017
/ Bank Accounts ,
Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Cross-Selling ,
EU ,
Euro ,
Foreclosure ,
Foreign Currency ,
Fraud ,
Glass-Steagall Act ,
Goldman Sachs ,
Housing Market ,
Mortgage Servicers ,
Mortgages ,
Sharing Economy ,
Tobacco ,
Uber ,
Volkswagen ,
Wells Fargo
China’s infamous shadow banking industry—an $8.5 trillion marketplace that’s sprung up in reaction to the government’s “campaign against financial leverage”—is back and bigger than ever these days....more
4/19/2017
/ Banking Sector ,
China ,
Disgorgement ,
Enforcement Actions ,
Financial Institutions ,
Foreign Currency ,
Global Economy ,
Goldman Sachs ,
IMF ,
Online Banking ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Shadow Banking ,
Starbucks ,
Tax Liability ,
UK