Your Daily Dose of Financial News

Robins Kaplan LLP
Contact

Jobs Report Friday again. Here’s what you should have in mind as you peruse the numbers – Bloomberg and WSJ and NYTimes

Despite what are expected to be “very strong” figures, the Federal Reserve is reportedly considering a new “wait-and-see mentality after a likely interest-rate increase at their meeting in December.” This “data dependent” strategy could mean a pause in the “predictable path of quarterly hikes it’s been on for most of the past two years” – WSJ

That story is credited with helping reverse what was looking like another disastrous day on Wall Street, with the Dow down over 700 points before a late-day rally – WSJ and Bloomberg and MarketWatch

We’ve already considered what the arrest of Huawei’s CFO will mean for the trade war between the U.S. and China.  Now let’s dig in to what that move—and a host of recent country-level rejections of Huawei’s 5G technology—means for the company itself – NYTimes

Streetwise gives us a bit more context on all of the current hand-wringing over the flattening (and potentially inverting) yield curve – WSJ

Drug maker Actelion Pharmaceuticals, acquired by Johnson & Johnson in 2017, has reached a $360 million settlement with federal prosecutors over an allegedly illegal kickback scheme involving a patient-assistance charity. The deal’s part of a recent wave of similar settlements by major drug makers – NYTimes

As we predicted earlier this week, controversial CFPB Chair pick Kathy Kraninger is now officially in, following a 50-49 party-line vote on Thursday – Law360

Uber-rival Lyft announced yesterday that it had confidentially filed a draft registration statement with the SEC, an important step towards its impending IPO that helps clear the way for a busy 2019 for both ride-hailing companies – NYTimes and WSJ and Law360

Meanwhile, we’ll be carefully eyeing today’s IPO for Moderna, a biotech startup that’s “trying to develop a new kind of drug and vaccine using the body’s own cellular machinery to protect against or even fight off disease.” So what could go wrong? Well, for starters, there’s the “relatively unproven” status of Moderna’s programs, its high cash-burn rate, and even a bit of underwriter drama just this week – WSJ

Eddie Lampert wants back in on Sears, and he’s put together a $4.6 billion plan (a likely mix of cash, equity new loans and debt swaps) to do so – Bloomberg and Law360

Some Law360 Expert Analysis on the case for AML whistleblower awards – Law360

Most of us, if hard pressed, have a special spot in our hearts for a good retro item.  Nintendo’s mega success with its NES Classic is as good a sign as any. But will that throwback spirit extend beyond games to something as moment-in-time as waterbeds? Start-up Afloat appears willing to take that bet – NYTimes

Have a great weekend.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Robins Kaplan LLP | Attorney Advertising

Written by:

Robins Kaplan LLP
Contact
more
less

Robins Kaplan LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide