The Commerce Department on Thursday announced a deal with China that will see the US lift stringent American sanctions on telecom giant ZTE in exchange for ZTE’s payment of a $1 billion fine and allowing the US to “more...more
Veteran’s Day in the US means Singles Day in China, the world’s biggest shopping day and a major test for Alibaba to keep growing on the day it helped invent....more
Private equity bigwig Lynn Tilton has reportedly hired appellate superstar Paul Clement (after Gibson Dunn got the boot) to represent her in her “bid to revive her challenge to the [SEC’s] in-house court at the Second...more
On July 14, 2016, the U.S. Department of the Treasury issued proposed regulations under Section 355 of the Internal Revenue Code that would establish new guidelines under the so-called "device" and "active business" tests....more
It’s official now: Yahoo’s keeping Alibaba but spinning off its core internet business and Yahoo Japan. All the details here – NYTimes and WSJ... Some thoughts on what, exactly, that means for CEO Marissa Mayer –...more
Yale’s Robert J. Shiller (he of the “Case-Shiller Home Price Indices”) offers the reminder that humans aren’t computers as an introduction for the idea that the Fed’s expected move on short-term interest rates doesn’t...more
Remember the suggestion a few weeks ago that Yahoo ditch its core business altogether and focus on its Alibaba stake? Well, it wasn’t just a fleeting idea. Yahoo’s board puts all options on the table later this week – WSJ...more
As in the 9 percent "amusement tax" that the city of Chicago recently extended to online streaming services like Netflix and Amazon Prime, triggering a series of lawsuits alleging that the newly expanded tax was illegally...more
On May 15, the Ninth Circuit declined to recognize a duty to correct prior representations under §§ 10(b) and 20(a) of the Securities Exchange Act of 1934, affirming the Northern District of California’s dismissal of a...more
In a statement that would mark a stark change in approach, an IRS official recently indicated that the IRS may begin requiring that companies seeking to effect tax-free spinoffs conduct active businesses that represent a...more
On May 15, 2015, the Ninth Circuit Court of Appeals affirmed the dismissal of a putative securities fraud class action against Yahoo! In re: Yahoo! Inc. Sec. Litig., No. 11-cv-02732 (9th Cir. May 15, 2015). In 2011,...more