Your daily dose of financial news - The Brief – 7.29.16

by Robins Kaplan LLP
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Facebook wasn’t the only major internet company with a banner Q2. Alphabet (driven by Google) posted revenue of $21.5 billion—a 21% jump from a year ago – NYTimes and WSJ

Amazon wasn’t so shabby either – NYTimes and WSJ and Bloomberg

Big Brother’s fighting back at Bridgewater – NYTimes

Amidst years of criticism of its cozy relationship with big banks (in which its employees are literally ensconced), the NY Fed is yanking its examiners out of the banks in an effort to root out regulatory capture – WSJ

GE’s already lost its SIFI label, but that hasn’t kept it from still divesting—this time, an Italian banking unit – Law360

A federal judge in Idaho has dismissed a $24 billion lawsuit against Credit Suisse alleging that the bank and real estate adviser Cushman & Wakefield ran a “predatory loan-to-own scheme that . . . loaded four luxury ski and golf resorts with debt” in order to foreclose on their assets – WSJ

Oracle has put $9.3 billion on the table for NetSuite—a massive move by Larry Ellison to acquire the back-office e-commerce software company founded by former employee Evan Goldberg in 1998 – NYTimes and Bloomberg

Driven in part by concerns over funding for terrorists, the EU has unveiled plans in the coming years for a “mandatory database tracking users of cryptocurrencies such as bitcoin” – Law360

SABMiller’s Shareholders are reportedly saying yes to the revised offer from AB InBev – Bloomberg

Brexit’s been wreaking havoc and changing the face of the UK economy.  But when it comes to derivatives—all $9.4 trillion traded daily—Britain’s massive role (43% of all of those trades occur there) is going to make it hard for the Leave vote to carry over to that market at all – WSJ

The Rio Games officially kick off on August 5, and they’ve already been marked by more than their fair share of drama. Unfinished infrastructure, protests, toxic venues, uninhabitable rooms . . . ouch.  Even the torch relay has been a rough ride – 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.

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