The global market for credit is estimated to be more than $200 trillion, approximately three times larger in aggregate than the global equity market. It consists of bank loans, sovereign and sub-sovereign debt, corporate...more
PG&E’s woes continue. Not only is the company still in the midst of a dangerous fire season, but it’s struggling to find a path out of bankruptcy while fending off a growing chorus of cities and state officials “threatening...more
A new report out Tuesday from the Food & Drug Administration reveals that drug maker Novartis “concealed manipulated data” from the agency “while applying for approval of an extremely expensive gene therapy treatment and then...more
EU regulators announced today that they’ve been conducting an investigation into Amazon and “how it collects and uses data from third-party sellers who appear on the retailing giant’s website” with an eye to potential...more
In case you haven’t had your eye on matters of global intrigue of late, figured we’d get you a bit caught up so that you know why your gas prices are heading north in the next couple of weeks....more
The SEC will vote today on what it’s calling Regulation Best Interest, “which says brokers can’t put their own paychecks ahead of a customer’s needs”—the more-industry-acceptable revision of an Obama-era fiduciary duty rule...more
In order to comply with European antitrust rulings against it earlier this year, Google announced that for the first time it will begin charging telephone handset manufacturers to install Gmail, Google Maps, and other popular...more
The DOJ vs. the AT&T/Time Warner deal. The much-anticipated ruling’s finally in, and . . . the merger’s a go. Repeat, the merger’s a go....more
China’s latest response to the White House’s aluminum and steel tariff plans came in the form of a no-joke April 1 announcement of its own tariffs of roughly $3 billion in 128 U.S.-made products ranging from pork to wine and...more
Facebook CEO Mark Zuckerberg finally issued a statement yesterday addressing the unauthorized data use scandal involving Cambridge Analytica that’s cost his company share price almost 10% since the story broke....more
The Fed wrapped up its Open Market Committee meeting yesterday without any change in interest rates but with an expression of confidence in the economy, despite Q1’s sub-1 percent growth figure (which it dubbed “transitory”)....more
It’s been far from a smooth ride for Uber over the past few weeks. And Friday’s revelation that the ride-sharing company’s been using a tool called “Greyball” to mine and use app data to “deceive the authorities in markets...more
We learned about Navient and its allegedly trouble-filled student-loan servicing practices yesterday. Turns out the issues are not only long-standing, but they bear similarities to the mortgage-lending issues that were at...more
The December 22 announcement that Deutsche Bank had settled with the DOJ over long-standing RMBS-related claims and investigations for a reported $7.2 billion prompted this Times long-read that traced the Icarus-like rise and...more
As anticipated, the Fed raised its benchmark interest yesterday (for only the second time since the 2008 financial crisis) to somewhere between .5 and .75 percent and, perhaps more critically, revealed its expectation for...more
In the ongoing battle over almost $38 billion in securities at issue in post-crisis-era lawsuits, the big banks are pushing hard for appellate courts to blow up the Firrea extender provision and find that the DOJ waited too...more
The latest on the AT&T/Time Warner deal, including its place in the “ambitious climb” of AT&T’s CEO, Randall Stephenson [NYTimes] and a conversation with one of the deal’s vocal political opponents, Sen. Al Franken....more
Some thoughts—from Chair Yellen, herself—about why, despite pretty strong economic indicators for a pretty long time now, the Fed hasn’t begun to raise rates again....more
Day 1 of Dr. Yellen’s trip to the Hill is done, and the official tone is “cautious,” with Yellen predicting continued economic growth and eventual additional rate hikes but expressing concerns about international threats to...more