DealBook’s Common Sense column takes a look at the AT&T/Time Warner deal and the “battle lines” forming for an “epic” antitrust battle, in spite of the vertical nature of the merger (the companies don’t compete in any...more
11/17/2017
/ Administrative Appointments ,
AT&T ,
Bitcoin ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Currency ,
E-Commerce ,
FCC ,
Federal Reserve ,
Grocery Stores ,
Initial Coin Offering (ICOs) ,
Presidential Appointments ,
Quarterly Report ,
Securities and Exchange Commission (SEC) ,
Subscription Services ,
Time Warner ,
Virtual Currency ,
Wal-Mart
Big news out of Uber this weekend, where the company and its board resolved outstanding issues with Travis Kalanick in order to finalize a deal in which a SoftBank-led consortium of investors will buy up about $1 billion of...more
11/13/2017
/ Alibaba ,
Apple ,
Banking Sector ,
Bitcoin ,
Children's Toys ,
China ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Digital Currency ,
Disclosure Requirements ,
E-Commerce ,
Financial Markets ,
Foreign Ownership ,
Hasbro ,
Internet Retailers ,
Mattel ,
Publicly-Traded Companies ,
Ridesharing ,
Securities and Exchange Commission (SEC) ,
Sharing Economy ,
SoftBank ,
Stocks ,
Uber ,
Virtual Currency ,
Whistleblowers ,
Wireless Technology
Snap’s awful Q3 be damned—Chinese tech giant Tencent has increased its stake in the company to more than 12% thanks to shares it purchased on the open market....more
11/9/2017
/ Alibaba ,
Apple ,
AT&T ,
Bitcoin ,
Digital Currency ,
E-Commerce ,
Internet Retailers ,
JPMorgan Chase ,
Panera ,
Retailers ,
Snapchat ,
Social Media ,
Technology ,
Time Warner ,
Virtual Currency ,
Wireless Industry
Breakingviews is raising an eyebrow at the news from yesterday about Broadcom’s unsolicited $105 billion offer for Qualcomm [the largest-ever proposed tech deal], especially in light of the “mountain of debt” Broadcom would...more
11/7/2017
/ Banking Sector ,
Barclays ,
Bitcoin ,
Class Action ,
Class Certification ,
Dark Pool ,
Digital Currency ,
EU ,
Financial Markets ,
Foreign Investment ,
Investment ,
Investment Management ,
MiFID II ,
Qualcomm ,
Regulatory Standards ,
Saudi Arabia ,
Sprint ,
T-Mobile ,
Technology Sector ,
Telecommunications ,
Trading Platforms ,
Virtual Currency ,
Wireless Industry
Samsung, beset by top-level resignations and a mess of bribery allegations reaching the former South Korean President and the crown prince of the family’s chaebol, has announced a new slate of execs “In an effort to bring...more
11/1/2017
/ Aetna ,
Amazon Marketplace ,
Automotive Industry ,
Banking Sector ,
Bitcoin ,
Commodities ,
Commodity Futures Contracts ,
CVS ,
Digital Currency ,
E-Commerce ,
Extender Statutes ,
FDIC ,
Financial Crisis ,
FIRREA ,
FOMC ,
Hurricane Maria ,
Insurance Industry ,
Internet Retailers ,
Pharmaceutical Industry ,
Pharmacies ,
Puerto Rico ,
Regulatory Oversight ,
Retailers ,
Samsung ,
Sears ,
Technology Sector ,
Tesla ,
Virtual Currency
Lyft, armed with a fresh billion from Google’s venture investment arm (CapitalG), is looking seriously at a 2018 IPO. The CapG money raises Lyft’s valuation from $6.9 billion to more than $10 billion....more
10/20/2017
/ Automobile Recall ,
Automotive Industry ,
Barclays ,
Bitcoin ,
Business Litigation ,
Capital Raising ,
CFTC ,
China ,
Cryptocurrency ,
Digital Currency ,
E-Commerce ,
Fashion Industry ,
Financial Markets ,
Google ,
Hedge Funds ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Insider Information ,
Internet Retailers ,
Japan ,
Lord & Taylor ,
Lyft ,
Manufacturers ,
Nissan ,
Retail Market ,
Retailers ,
Safety Inspections ,
Securities Fraud ,
Sharing Economy ,
Stock Markets ,
Subscription Services ,
Token Sales ,
Trading Platforms ,
Virtual Currency ,
Wal-Mart
A sobering look at the post-recession economic recovery shows that while by many measures US economic figures are again strong, the recession caused wounds that “have not fully healed”—including the loss of more than 1.5...more
10/6/2017
/ Amazon Marketplace ,
Bitcoin ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
Data Protection ,
Digital Currency ,
Equifax ,
Federal Student Loans ,
Financial Crisis ,
Financial Services Industry ,
IMF ,
Job Creation ,
Navient ,
Online Marketplace Lending ,
Payday Loans ,
Personal Data ,
Recovery Plans ,
Student Loans ,
Testimony ,
U.S. House ,
Unemployment
Equifax’s ex-CEO Richard Smith will be on the Hill today to address the a subcommittee of the House Energy and Commerce Committee. Smith is expected to report that a “widespread breakdown in security safeguards” at his former...more
10/4/2017
/ Automotive Industry ,
Banking Sector ,
Bitcoin ,
Credit Reporting Agencies ,
Cryptocurrency ,
Cyber Attacks ,
Data Breach ,
Digital Currency ,
Electric Vehicles ,
Equifax ,
Financial Markets ,
Ford Motor ,
General Electric ,
General Motors ,
Goldman Sachs ,
Hackers ,
Personally Identifiable Information ,
Senate Committees ,
Tesla ,
Testimony ,
Wells Fargo
The CFPB issued a no-action letter to Upstart Network this week that will allow the online lender to “continue using alternative credit data to evaluate borrowers in exchange for providing data to the federal consumer finance...more
9/15/2017
/ Alphabet Company ,
Banking Sector ,
Bitcoin ,
China ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Data Breach ,
Digital Currency ,
Equifax ,
Federal Trade Commission (FTC) ,
Initial Coin Offering (ICOs) ,
Insider Trading ,
Lyft ,
Martin Shkreli ,
No-Action Letters ,
SAC Capital ,
SoftBank ,
Trading Platforms ,
Uber
The White House announced its intention yesterday to blocked a China-backed investor from buying American semiconductor maker Lattice over national security concerns. The “rare move” could “signal more aggressive scrutiny of...more
9/15/2017
/ Banking Sector ,
Barclays ,
Bitcoin ,
Bonds ,
China ,
Class Action ,
Data Breach ,
Digital Currency ,
Equifax ,
FinTech ,
Initial Public Offering (IPO) ,
Martin Shkreli ,
Saudi Arabia ,
Securities Fraud
In an apparent effort to appease dissatisfied activist investors, chemicals giant DowDuPont has announced plans to change its breakup plan with an reorganizational structure that focuses on three “distinct businesses: an...more
9/14/2017
/ Apple ,
Bitcoin ,
Class Action ,
Consumer Financial Products ,
Corporate Restructuring ,
Digital Currency ,
Dow Chemical ,
DuPont ,
Interest Rates ,
Mortgages ,
Toshiba ,
UK ,
UK Competition and Markets Authority (CMA) ,
Wachovia ,
Wells Fargo
Vanguard’s not well known for making waves, but the $4.5 trillion mutual-fund manager has quietly increased its corporate engagement activity over the past year—discussing governance, pay, and other issues with nearly a...more
9/5/2017
/ Banking Sector ,
Bitcoin ,
China ,
Class Action ,
Cross-Selling ,
Derivatives ,
Digital Currency ,
Ethereum ,
Financial Fraud ,
Goldman Sachs ,
Google ,
Initial Coin Offering (ICOs) ,
Innovation ,
Mutual Funds ,
Online Marketplace Lending ,
Payday Loans ,
Procter & Gamble ,
Silicon Valley ,
Tribal Loans ,
Tribal-State Gaming Compacts ,
Vanguard ,
Wells Fargo
Q2 saw US growth hit the 3% mark for the first time in two years, besting last quarter’s lackluster showing by almost 2%. The report helped boost stocks across the board....more
8/31/2017
/ Arbitration ,
Best Interest Contract Exemptions ,
Bitcoin ,
Civil Rights Act ,
Conflicts of Interest ,
Cryptocurrency ,
Department of Labor (DOL) ,
Economic Development ,
Employee Benefits ,
Equal Employment Opportunity Commission (EEOC) ,
Equal Pay Act ,
Fiduciary Rule ,
Financial Services Industry ,
Gender Discrimination ,
Initial Public Offering (IPO) ,
Investment Management ,
JPMorgan Chase ,
Parental Leave ,
Sharing Economy ,
Title VII ,
Uber ,
Virtual Currency ,
Wage and Hour
Chevron CEO John Watson is out in a move that leaves the energy giant without a board-confirmed successor and marks the “dramatic shift under way at big oil companies as they adapt to a prolonged period of lower prices...more
8/23/2017
/ Automotive Industry ,
Banking Sector ,
Bayer ,
BHP Billiton ,
Bitcoin ,
Capital Requirements ,
Cell Phones ,
Chevron ,
China ,
Cybersecurity ,
Digital Currency ,
Fiat ,
Google ,
Initial Public Offering (IPO) ,
Jeep ,
Monsanto ,
Oil & Gas ,
Regulatory Oversight ,
Retail Market ,
Virtual Currency ,
Wal-Mart
Mr. Buffett’s decided to sell his massive 10.6 million share stake in General Electric, withdrawing from the company to which he lent roughly $3 billion to help see it through the 2008 financial crisis....more
8/15/2017
/ Banking Sector ,
Bitcoin ,
Blue Apron ,
Corporate Culture ,
Cryptocurrency ,
Digital Currency ,
Forex ,
General Electric ,
Market Manipulation ,
Pandora ,
Warren Buffett ,
White Collar Crimes ,
Whole Foods
Somehow, despite months of high-profile sideshows, the business of Uber must go on, and right now that means a tough call for the board. It’s currently considering three investment offers, including one from SoftBank, to buy...more
8/14/2017
/ Bank Fraud ,
Banking Sector ,
Bitcoin ,
BSA/AML ,
Cryptocurrency ,
Digital Currency ,
Disney ,
Financial Regulatory Reform ,
Netflix ,
RegTech ,
Regulatory Oversight ,
SoftBank ,
Uber ,
Volcker Rule
Wells Fargo has reportedly uncovered another trove of unauthorized accounts, according to a regulatory filing on Friday. The bank also disclosed a CFPB investigation over potential harm to customers over its practice of...more
8/7/2017
/ Apple ,
Arbitration ,
Bitcoin ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Protection Bureau (CFPB) ,
Cross-Selling ,
Cryptocurrency ,
Diversity ,
Financial Institutions ,
Financial Markets ,
Gender Equity ,
Google ,
Information Technology ,
Job Creation ,
Navient ,
Nike ,
Regulatory Agenda ,
Student Loans ,
Technology Sector ,
Unemployment ,
Virtual Currency ,
Wall Street ,
Wells Fargo
A government audit report out yesterday accuses the US Dep’t of Housing and Urban Development of selling more than 100k distressed mortgages over a 7 year period to PE firms and hedge funds without following the proper rules...more
7/26/2017
/ Arbitration ,
Bailout ,
Banking Sector ,
Bitcoin ,
Capital Controls ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Currency ,
Distressed Assets ,
Fashion Industry ,
Financial Services Industry ,
Greece ,
Housing Market ,
HUD ,
Information Commissioner's Office (ICO) ,
Jimmy Choo ,
Mortgages ,
Securities and Exchange Commission (SEC) ,
SoftBank ,
Stock Sale Agreements ,
Uber
The Fed’s Open Markets Committee meets today, and despite relatively robust economic numbers of late, the lack of oped-for inflation (among other things) is likely to keep the Fed from moving on interest rates again at this...more
7/25/2017
/ Bitcoin ,
CFTC ,
Commercial Bankruptcy ,
Commercial Loans ,
Digital Currency ,
Elon Musk ,
Federal Reserve ,
Financial Institutions ,
Fraud ,
High-Speed Rail ,
Interest Rate Adjustments ,
Martin Shkreli ,
Pharmaceutical Industry ,
PNC ,
Prescription Drugs ,
Regulatory Agencies ,
Regulatory Oversight ,
Samsung ,
Trade Options ,
Transportation Industry ,
WebMD
Activist investor Nelson Peltz is officially taking on his biggest target yet—consumer-products giant Procter & Gamble. The announcement begins the public stage of a fight we’ve been waiting for since Peltz’s Trian Fund Mgmt...more
7/17/2017
/ Activist Investors ,
Automotive Loans ,
Banks ,
Bitcoin ,
China ,
Equity Transactions ,
Financial Institutions ,
Financial Markets ,
Fixed Income Investments ,
Insider Trading ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Subprime Loans ,
Telecommuting ,
Wells Fargo
Barclays and a group of its former execs are facing charges of fraud by false representation by Britain’s Serious Fraud Office over deals they struck with Qatar in 2008 to avoid a government bailout....more
6/20/2017
/ Amazon Marketplace ,
Banking Sector ,
Barclays ,
Best Interest Contract Exemptions ,
Bitcoin ,
Blue Apron ,
Brick-and-Mortar Stores ,
Cryptocurrency ,
Disgorgement ,
Fiduciary Rule ,
Fraud ,
Gaming ,
Grocery Stores ,
Hiring & Firing ,
Initial Public Offering (IPO) ,
Investment Management ,
Jaguar ,
Misrepresentation ,
On-Demand Services ,
Pharmaceutical Industry ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
Subscription Services ,
Valeant ,
Virtual Currency ,
Whole Foods
Because we haven’t spilled enough ink on GE this week, Dealbook’s Common Sense column asks if GE’s decline (at least from a stock performance perspective) wasn’t so much Jeff Immelt’s doing as it was Jack Welch’s....more
6/16/2017
/ Amazon Marketplace ,
Anbang ,
Bitcoin ,
Capital Requirements ,
CFTC ,
Department of Justice (DOJ) ,
Disgorgement ,
Dow Chemical ,
DuPont ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
General Electric ,
Kokesh v SEC ,
Money Laundering ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
Uber made waves yesterday by firing 20 employees as part of an internal investigation into sexual harassment and other unsavory aspects of its workplace culture....more
6/7/2017
/ Banking Sector ,
BHP Billiton ,
Bitcoin ,
Bonds ,
Financial Institutions ,
General Motors ,
Robotics ,
Sexual Harassment ,
Shipping ,
Uber ,
Virtual Currency
Even as the administration is mulling over withdrawing from the Paris Climate Accord, Exxon Mobil’s shareholders have voted to demand a more detailed accounting of the climate change policy risks facing the company—an...more
6/1/2017
/ Banking Sector ,
Bernie Madoff ,
Bitcoin ,
Bonds ,
China ,
Climate Change ,
Cybersecurity ,
Environmental Policies ,
Exxon Mobil ,
Financial Markets ,
Google ,
Greenhouse Gas Emissions ,
Initial Public Offering (IPO) ,
Ireland ,
Morgan Stanley ,
Nasdaq ,
Paris Agreement ,
Ponzi Scheme ,
Trump Administration ,
Uber ,
Venezuela ,
Virtual Currency
Citigroup announced yesterday that it’ll pay nearly $100 million to resolve a long-running federal investigation into its Banamex USA group over lax money-laundering monitoring (largely for transfers between the US and...more