A Mozambique-based tuna-fishing deal gone wrong has left Credit Suisse holding the bag to the tune of $475 million—the total in fines it will pay US and UK authorities to a foreign bribery investigation linked to the tuna...more
10/20/2021
/ Bitcoin ,
Department of Justice (DOJ) ,
Facebook ,
Financial Markets ,
Immigration and Nationality Act ,
IRS ,
Netflix ,
NYSE ,
UK Brexit ,
Unemployment ,
Wire Fraud
Dispatch #1 from the Elizabeth Holmes Theranos criminal fraud trial, which opened yesterday with jury selection and saw the excusing of 9 of the initial batch of about 50 potential jurors for lack of vaccination...more
9/1/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Facebook ,
Financial Markets ,
Fraud ,
Google ,
Initial Public Offering (IPO) ,
Jury Selection ,
OCC ,
Oil & Gas ,
Private Equity ,
Surface Transportation Board ,
UK Brexit ,
Wells Fargo
Thursday’s weekly unemployment report managed to pull double duty—marking another decrease in the still-high figures (roughly 709k new jobless claims last week, about 47k fewer than the week before) that suggests some cause...more
3/12/2021
/ 5G Network ,
Bonds ,
Border Security ,
Coronavirus/COVID-19 ,
E-Commerce ,
Electric Vehicles ,
Elon Musk ,
European Central Bank ,
Infectious Diseases ,
Initial Public Offering (IPO) ,
Innovative Technology ,
Offshore Funds ,
South Korea ,
Tax Evasion ,
Tesla ,
UK ,
UK Brexit ,
Unemployment ,
Verizon
Aaaand we’re back. Hope all have stayed safe and healthy. Let’s get to business. Friday’s Jobs Report saw the U.S. recovery thrown in reverse, with employers cutting 140,000 jobs in December amidst “rising coronavirus cases...more
1/11/2021
/ ATMs ,
Bitcoin ,
Boeing ,
China ,
Coronavirus/COVID-19 ,
Credit Suisse ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Facebook ,
Foreign Policy ,
Infectious Diseases ,
Theranos ,
Twitter ,
UK Brexit ,
Unemployment
Drugmaker AstraZeneca agreed on Saturday to buy biopharma company Alexion for $39 billion in cash and stock. In the deal—the “biggest by a health care company this year”—will help AstraZeneca expand into the immunology...more
12/14/2020
/ AirBnB ,
Alexion ,
Alphabet Company ,
Antitrust Investigations ,
AstraZeneca ,
Biden Administration ,
Certiorari ,
Class Certification ,
Conflicts of Interest ,
Congressional Committees ,
Corporate Sales Transactions ,
Data Breach ,
Department of Justice (DOJ) ,
Disney ,
DoorDash ,
EU ,
Gaming ,
Goldman Sachs ,
Hackers ,
Housing Market ,
Initial Public Offering (IPO) ,
Life Sciences ,
Real Estate Transactions ,
Retail Sales ,
Russia ,
SCOTUS ,
Stock Prices ,
Trade Negotiations ,
UK Brexit
Because too much of a good thing is always trouble (especially on Wall Street), market watchers are warning of a new tech bubble after Airbnb’s monster IPO on Thursday. The home-sharing app’s shares rose more than 112% to...more
12/11/2020
/ AirBnB ,
Amazon Marketplace ,
Antitrust Violations ,
Apple ,
Big Tech ,
Bitcoin ,
Bonds ,
Competition ,
Cookies ,
Coronavirus/COVID-19 ,
Data Privacy ,
Enforcement Actions ,
EU ,
European Central Bank ,
Facebook ,
Federal Trade Commission (FTC) ,
Financial Markets ,
Financial Services Industry ,
Financial Stimulus ,
France ,
Google ,
Infectious Diseases ,
Initial Public Offering (IPO) ,
MassMutual ,
MasterCard ,
Online Platforms ,
Pornography ,
Trade Agreements ,
UK ,
UK Brexit ,
Unemployment ,
Visa Inc
DoorDash is entering the public markets fray today with hopes of “cash[ing] in on the frenzy in initial public offerings” of late. The food-delivery company is expected to price shares “at the high end of or above its...more
12/9/2020
/ Aircraft ,
Antitrust Violations ,
Competition ,
Corporate Sales Transactions ,
Cyber Attacks ,
Cybersecurity ,
DoorDash ,
EU ,
Foreign Trade Regulations ,
Going-Private Transactions ,
Goldman Sachs ,
Initial Public Offering (IPO) ,
McDonalds ,
Movies ,
Procter & Gamble ,
Rebates ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Share Buybacks ,
SoftBank ,
Tariffs ,
Uber ,
UK ,
UK Brexit ,
Warner Brothers Entertainment
Here’s a fun little exercise. Pull up a chart of Tuesday's market activity, and see if you can pinpoint the exact moment the White House announced to the world that it was pulling support for another Covid stimulus bill...more
10/8/2020
/ Amazon Marketplace ,
Antitrust Provisions ,
Apple ,
Banks ,
Coronavirus/COVID-19 ,
EU ,
Facebook ,
Financial Stimulus ,
General Electric ,
Google ,
H-1B ,
Highly-Skilled Workers Visa ,
Monopolization ,
Relief Measures ,
Securities and Exchange Commission (SEC) ,
Trade Deficit ,
Trump Administration ,
UK ,
UK Brexit ,
Wells Notice
Palantir’s direct listing experiment generally went well yesterday, with the company’s shares beginning trading up nearly 40% from the $7.25 reference price set Tuesday evening. Fellow direct lister Asana also had a good...more
10/2/2020
/ Allstate ,
American Airlines ,
Antitrust Violations ,
Banks ,
Coronavirus/COVID-19 ,
Dividends ,
Donald Trump ,
Economic Downturn ,
EU ,
Federal Reserve ,
Financial Stimulus ,
Goldman Sachs ,
Hewlett-Packard ,
Infectious Diseases ,
Initial Public Offering (IPO) ,
Joe Biden ,
Layoffs ,
Legislative Agendas ,
Political Campaigns ,
Political Candidates ,
Political Debates ,
Ransomware ,
Relief Measures ,
Secretary of the Treasury ,
Securities and Exchange Commission (SEC) ,
Share Buybacks ,
Small Business ,
Stock Prices ,
Tokyo Stock Exchange ,
UK ,
UK Brexit ,
Unemployment ,
United Airlines
Federal authorities are prepping to “reprimand Citigroup Inc. for failing to improve its risk-management systems—an expansive set of technology and procedures designed to detect problematic transactions, risky trades and...more
9/15/2020
/ Amazon Marketplace ,
Apple ,
Berkshire Hathaway ,
BNSF Railway ,
Citigroup ,
Electric Vehicles ,
Enforcement Actions ,
Facebook ,
Financial Transactions ,
Generic Drugs ,
Hiring & Firing ,
iPhone ,
Job Creation ,
Kodak ,
Layoffs ,
National Emissions Standards ,
National Security ,
Northern Ireland ,
Oracle ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
TikTok ,
TracFone Wireless ,
UK Brexit ,
Verizon ,
Volkswagen ,
Whistleblowers ,
Woman Board Members
Blaming a “U.S. move to impose tariffs on French goods,” luxury brand conglomerate LMVH is pulling out of a proposed $16 billion deal to buy jeweler Tiffany & Co. Tiffany is now suing to enforce the ill-fated agreement....more
9/9/2020
/ Activist Investors ,
Aircraft ,
Apple ,
Boeing ,
Breach of Contract ,
CARES Act ,
CFTC ,
Climate Change ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Electric Vehicles ,
EPIC ,
Fair Labor Standards Act (FLSA) ,
Federal Aviation Administration (FAA) ,
Federal Labor Laws ,
Financial Markets ,
Financial Stimulus ,
Form 13F ,
France ,
General Motors ,
Infectious Diseases ,
Interest Rates ,
iPhone ,
Joint Employers ,
JPMorgan Chase ,
Luxury Goods ,
Nasdaq ,
Popular ,
Retail Market ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Startups ,
Tariffs ,
Tiffany and Company ,
Trade Relations ,
Trade Wars ,
Trump Administration ,
UK Brexit
Last Friday’s US Jobs Report saw unemployment fall to 8.4%, but the end of federal aid programs and a solid-but-not-gangbusters 1.4 million jobs gained in August leads many to fear a much worse employment picture ahead....more
9/9/2020
/ App Store ,
Apple ,
Big Tech ,
China ,
Coronavirus/COVID-19 ,
Diversity and Inclusion Standards (D&I) ,
Dominos ,
Employee Benefits ,
EPIC ,
Financial Markets ,
Infectious Diseases ,
Job Creation ,
Mobile Apps ,
Robotics ,
SoftBank ,
Stock Prices ,
TikTok ,
Trump Administration ,
UK Brexit ,
Unemployment
Amazon closed out the trading day yesterday as an official member of the $1 trillion club for the first time. Because Jeff really needed a win, folks. The company joins Microsoft, Alphabet, and Apple in that rarified...more
2/5/2020
/ 1MDB ,
5G Network ,
Airplane Accidents ,
Alphabet Company ,
Amazon Marketplace ,
Banks ,
Boeing ,
Chapter 11 ,
China ,
Commercial Bankruptcy ,
Disney ,
E-Commerce ,
eBay ,
Federal Reserve ,
Financial Markets ,
Goldman Sachs ,
Huawei ,
Infectious Diseases ,
Infrastructure ,
Internet Streaming ,
Layoffs ,
Loans ,
Macy's ,
NYSE ,
Online Advertisements ,
PG&E ,
Popular ,
Public Health ,
Retail Market ,
Stock Exchange ,
Stock Prices ,
Takeovers ,
Telecommunications ,
Tourism ,
Trade Relations ,
UK Brexit ,
YouTube
Facebook has agreed to pay $550 million to resolve a class-action lawsuit claiming that Zuck & Co.’s use of facial recognition technology violated Illinois’ biometric privacy law. Though the settlement is little more than “a...more
1/30/2020
/ Airplane Accidents ,
Apple ,
Automotive Industry ,
Aviation Industry ,
Biometric Information ,
Biometric Information Privacy Act ,
Boeing ,
Broadcom ,
Canada ,
Class Action ,
Community Reinvestment Act ,
Consumer Financial Products ,
Data Collection ,
Data Privacy ,
Department of Transportation (DOT) ,
Electronic Data Transmissions ,
EU ,
European Parliament ,
Facebook ,
Facial Recognition Technology ,
FDIC ,
Federal Aviation Administration (FAA) ,
Federal Reserve ,
Financial Markets ,
Financial Regulatory Reform ,
Free Trade Agreements ,
Interest Rate Adjustments ,
Interest Rates ,
iPhone ,
Loans ,
Low-Income Issues ,
Mexico ,
Microchip Technology ,
OCC ,
Patent Infringement ,
Personal Data ,
Personally Identifiable Information ,
Popular ,
Pyramid Schemes ,
Quarterly Report ,
Smartphones ,
Social Media ,
Southwest Airlines ,
Statutory Violations ,
Stock Prices ,
Tesla ,
UK ,
UK Brexit ,
United States-Mexico-Canada Agreement (USMCA) ,
US Trade Policies ,
Wifi ,
Withdrawal Agreement
Boeing has again pushed back the return of its flawed 737Max model, revealing yesterday that it doesn’t expect regulators to sign-off on their return to the air until at least summer....more
1/22/2020
/ Agribusiness ,
Aviation Industry ,
Bailout ,
Boeing ,
Brazil ,
Business Valuations ,
China ,
Citibank ,
Criminal Prosecution ,
Dams ,
EU ,
Farms ,
Flood Insurance ,
Foreign Relations ,
France ,
Homicide ,
Manufacturers ,
Mining ,
Non-Disclosure Agreement ,
OCC ,
Popular ,
Startups ,
Tariffs ,
Trade Wars ,
UK ,
UK Brexit ,
Unicorns ,
US Trade Policies
Hackers who targeted airport currency exchange mainstay Travelex in a ransomware attack on New Year’s Eve have alerted British media that they possess 5 GB of sensitive customer data from the company “since gaining access to...more
1/10/2020
/ Aircraft Equipment ,
Airplane Accidents ,
Airports ,
Bailout ,
Barclays ,
Boeing ,
China ,
Cross-Border Transactions ,
Currency Exchange ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Economic Growth ,
EU ,
Exports ,
Failure to Comply ,
Financial Markets ,
Financial Transactions ,
Foreign Exchanges ,
Foreign Relations ,
Forex ,
Goldman Sachs ,
GrubHub ,
Hackers ,
Imports ,
Information Governance ,
Information Technology ,
Insurance Industry ,
Interest Rate Adjustments ,
Interest Rates ,
Internal Communications ,
Iran ,
Job Creation ,
Jobs Report ,
Legislative Agendas ,
Lloyds Banking Group ,
Mergers ,
Mining ,
On-Demand Services ,
Pending Legislation ,
Popular ,
Ransomware ,
Retail Banks ,
Revenue ,
Stock Prices ,
Tariffs ,
Trade Negotiations ,
Trade Relations ,
UK ,
UK Brexit ,
Unemployment ,
US Trade Policies ,
Wages
Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales”....more
12/18/2019
/ Aircraft Sales ,
Amazon ,
Automotive Industry ,
Banks ,
Bed Bath & Beyond ,
Boeing ,
Bond Markets ,
Borrowers ,
Capital Raising ,
CBS ,
Chrysler ,
Competition ,
Complaint Procedures ,
Consumer Financial Products ,
Diversity and Inclusion Standards (D&I) ,
DNA ,
E-Commerce ,
Electricity ,
Equipment Failure ,
EU ,
Fannie Mae ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Fiat ,
Financial Markets ,
Financial Services Industry ,
Financing ,
Freddie Mac ,
Goldman Sachs ,
Infrastructure ,
Institutional Investors ,
Interest Rate Adjustments ,
Life Sciences ,
Monopolization ,
Mortgage Lenders ,
Mortgages ,
Natural Disasters ,
Office Space ,
Peugeot ,
PG&E ,
Popular ,
Publicly-Traded Companies ,
Rate-Rigging ,
Real Estate Investments ,
Retailers ,
Retaliation ,
Settlement Agreements ,
Sharing Economy ,
SoftBank ,
Startups ,
Trump Administration ,
UK ,
UK Brexit ,
Wildfires
The US and China have reportedly reached an initial agreement on the “final terms of a phase one trade deal, moving both countries closer to signing a pact that” the White House originally announced in October and averting...more
12/13/2019
/ Antitrust Violations ,
China ,
Competition ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debit and Credit Card Transactions ,
Debt ,
Digital Wallets ,
Economic Growth ,
EU ,
European Central Bank ,
Exports ,
Facebook ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Franchisee ,
Full-Time Employees ,
Google ,
Imports ,
Joint Employers ,
Labor Law Violations ,
Manufacturers ,
McDonalds ,
Mobile Apps ,
Online Gaming ,
PayPal ,
Political Campaigns ,
Preliminary Injunctions ,
Prepaid Payment Products ,
Revenue ,
Revenue Sharing ,
Settlement Agreements ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trade Retaliation ,
Trade Wars ,
Trump Administration ,
UK ,
UK Brexit ,
Unemployment ,
US Trade Policies ,
Venmo
As expected, the Fed kept interest rates unchanged on Wednesday while also signaling that “they would wait to see how the economy fared before making another move”....more
12/12/2019
/ Airplane Accidents ,
Antitrust Provisions ,
Bitcoin ,
Boeing ,
Charitable Donations ,
Charitable Organizations ,
Cryptocurrency ,
Dairy Farmers ,
Dairy Farmers of America ,
Deficit Reduction ,
Disney ,
Farms ,
Federal Aviation Administration (FAA) ,
Federal Reserve ,
Financial Markets ,
FinCEN ,
General Elections ,
Initial Public Offering (IPO) ,
Insider Trading ,
Interest Rate Adjustments ,
Internet Streaming ,
Investment Opportunities ,
Joint Venture ,
JPMorgan Chase ,
Legislative Agendas ,
Lost Profits ,
Mobile Devices ,
Nestle ,
Private Equity ,
prohibit ,
Proposed Legislation ,
Race Discrimination ,
Regulatory Agenda ,
Religious Institutions ,
Saudi Aramco ,
Stock Prices ,
Suspicious Activities ,
Suspicious Activity Reports (SARs) ,
UK ,
UK Brexit ,
Virtual Currency
Fiat Chrysler and France’s Peugeot are in the midst of merger talks that, if finalized, could “create a nearly $50 billion trans-Atlantic auto giant.” One option being bandied about in the “fluid” talks is an “all-share...more
10/30/2019
/ AIG ,
Airplane Accidents ,
Algorithmic Trading ,
Automotive Industry ,
Boeing ,
Chicago Mercantile Exchange (CME) ,
Chrysler ,
Coal Industry ,
Commercial Bankruptcy ,
Compensation & Benefits ,
EU ,
Federal Reserve ,
Fiat ,
Financial Markets ,
FOMC ,
Futures ,
GDP ,
General Elections ,
Interest Rate Adjustments ,
Investigations ,
Investment Opportunities ,
Mercantile Industry ,
Murray Energy ,
Office Space ,
Peugeot ,
Popular ,
Retirement Plan ,
S&P ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Sharing Economy ,
Testimony ,
Trump Administration ,
U.S. Commerce Department ,
UK ,
UK Brexit ,
UK Parliament
AT&T announced yesterday that it’s resolved an ongoing battle with activist Paul Singer and his Elliott Management by agreeing to keep CEO Randall Stephenson on the job through “at least 2020,” with the chair and CEO roles to...more
10/29/2019
/ Arbitration ,
Arbitration Awards ,
AT&T ,
Biotechnology ,
Boeing ,
CEOs ,
China ,
Denmark ,
Economic Downturn ,
ETFs ,
EU ,
Exchange-Traded Products ,
Financial Crisis ,
Financial Markets ,
Gender Discrimination ,
HSBC ,
Investment Funds ,
JPMorgan Chase ,
Layoffs ,
Market Abuse ,
Mortgage Lenders ,
Profits ,
Rating Agencies ,
Regulatory Oversight ,
Securities Fraud ,
Sothebys ,
Spoofing ,
Telecommunications ,
Trade Wars ,
UBS ,
UK ,
UK Brexit ,
UK Parliament ,
Wall Street
The EU has granted the UK another extension for the Brexit process, giving Britain until January 31 to leave (unless its Parliament passes a divorce deal sooner)....more
10/28/2019
/ Airplane Accidents ,
Aviation Industry ,
Bailout ,
Bitcoin ,
Blockchain ,
Boeing ,
China ,
Cloud Computing ,
Department of Defense (DOD) ,
Employment Contract ,
EU ,
Exxon Mobil ,
Fashion Industry ,
Federal Aviation Administration (FAA) ,
Federal Contractors ,
Federal Reserve ,
Financial Markets ,
Financial Regulatory Reform ,
General Motors ,
H&M ,
Industry Consolidation ,
Labor Relations ,
Louis Vuitton ,
Luxury Goods ,
Microsoft ,
Opportunity Zones ,
Rulemaking Process ,
SoftBank ,
Strike ,
Tax Cuts and Jobs Act ,
Tiffany and Company ,
UK ,
UK Brexit ,
Wall Street
Mario Draghi presided over his final ECB meeting yesterday, with the central bank deciding to hold rates steady and let current stimulus measures play out for the time being. His departure (and the arrival of former IMF chief...more
10/25/2019
/ Automotive Industry ,
Bribery ,
Climate Change ,
Consumer Financial Protection Bureau (CFPB) ,
Corruption ,
Debt ,
European Central Bank ,
Exxon Mobil ,
Federal Reserve ,
Federal Student Loans ,
Financial Services Industry ,
Interest Rates ,
Investigations ,
Investment Fraud ,
Japan ,
Liquidity ,
Liquidity Management ,
Loan Forgiveness ,
Mineral Extraction ,
Natural Gas ,
Netherlands ,
Nissan ,
Office Space ,
Pakistan ,
Removal For-Cause ,
Repossess ,
Repurchases ,
Resignation ,
SCOTUS ,
Securities Violations ,
Separation of Powers ,
Sharing Economy ,
Single Director ,
Trump Administration ,
UK ,
UK Brexit ,
Well Drilling ,
White Collar Crimes
Nike’s top dog, CEO Mark Parker, is stepping down at the beginning of 2020, to be replaced by board member and ServiceNow CEO John Donahoe. Parker, who will assume the role of executive chair when Donahoe takes over, has been...more
10/23/2019
/ Bank of England ,
Bank of New York (BNY) Mellon ,
Boeing ,
Books & Records ,
CEOs ,
Climate Change ,
Congressional Investigations & Hearings ,
Cryptocurrency ,
Elizabeth Warren ,
EU ,
European Central Bank ,
Exxon Mobil ,
Facebook ,
Federal Reserve ,
Financial Regulatory Reform ,
Financial Services Committee ,
Fintech Charter ,
Gender Discrimination ,
Goldman Sachs ,
Hewlett-Packard ,
Illegal Profits ,
Insider Trading ,
Mark Zuckerberg ,
National Bank Charters ,
Nike ,
OCC ,
Office Space ,
Price-Fixing ,
Quanta ,
Repossess ,
Resignation ,
Securities Fraud ,
Sharing Economy ,
U.S. Treasury ,
UK ,
UK Brexit ,
UK Parliament
SoftBank’s plan to help bail out WeWork would mean not only a takeover by Masa Son’s crew but also “would slash the co-working company’s valuation to about $8 billion”—a staggering drop of nearly $40 billion. The plan would...more
10/22/2019
/ Bailout ,
Business Valuations ,
Cardinal Health ,
CEOs ,
Commercial Bankruptcy ,
Cryptocurrency ,
Disney ,
Electricity ,
Facebook ,
Johnson & Johnson ,
Lucasfilm ,
Mark Zuckerberg ,
McKesson Technologies ,
Office Space ,
On-Demand Services ,
Opioid ,
Pain Management ,
PG&E ,
Pharmaceutical Industry ,
Reorganizations ,
Resignation ,
Settlement Agreements ,
Sharing Economy ,
SoftBank ,
Star Wars ,
Takeovers ,
Teva Pharmaceuticals ,
UK ,
UK Brexit ,
UK Parliament ,
Wells Fargo