Commerce Department data released yesterday showed strong across-the-board consumer spending in April, a nominally good sign but one that pushed bond yields higher and sent most equities lower for the day, snapping an 8-day...more
5/16/2018
/ Arbitration Agreements ,
Article III ,
Bonds ,
Class Action ,
Class Certification ,
Cryptocurrency ,
Deutsche Bank ,
Disney ,
Initial Coin Offering (ICOs) ,
Investment Fraud ,
Libor ,
RMBS ,
Securities Fraud ,
Sexual Harassment ,
Short-Term Investments ,
SoftBank ,
Standing ,
Startups ,
Terms of Service ,
U.S. Commerce Department ,
Uber ,
Volcker Rule ,
White Collar Crimes ,
Wire Fraud
Chalk one up for big Carl (and Darwin). Xerox announced this weekend that it’s bowing to Icahn’s pressures and ending its $6.1 billion combination with Fuji....more
5/14/2018
/ Blockchain ,
Chapter 11 ,
Commercial Bankruptcy ,
Credit Default Swaps ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Economic Sanctions ,
Elon Musk ,
Enforcement Actions ,
Foreign Relations ,
Investment Products ,
Iran ,
Iran Sanctions ,
IRS ,
Joint Comprehensive Plan of Action (JCPOA) ,
Microsoft ,
Securities and Exchange Commission (SEC) ,
Symantec ,
Tax Liability ,
Tesla ,
Toys R Us ,
Uber ,
Xerox ,
ZTE
Vodafone will spend $23 billion in cash to snap up operations in four European countries from Liberty Global PLC, which specializes in cable operations....more
5/9/2018
/ Australia ,
Banks ,
Bitcoin ,
Comcast ,
Commercial Bankruptcy ,
Corporate Culture ,
Cryptocurrency ,
Data Breach ,
Equifax ,
Incentive Compensation ,
Initial Coin Offering (ICOs) ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Nike ,
NYSE ,
Oil & Gas ,
Oil Prices ,
Token Sales ,
Trading Platforms ,
Trump Administration ,
Valeant
As we anticipated, the Fed held pat on rates yesterday, acknowledged rising inflation but betrayed little concern about it, and gave no signs of moving away from plans to next raise rates in June....more
5/3/2018
/ AARP ,
Aluminum Sales ,
Amazon Marketplace ,
Automotive Industry ,
Brazil ,
China ,
Cryptocurrency ,
Elon Musk ,
False Advertising ,
Fiduciary Rule ,
Ford Motor ,
Inflation Adjustments ,
Interest Rates ,
Investment Adviser ,
Investment Management ,
Money Services Business ,
Motor Vehicles ,
Nissan ,
Payment Systems ,
Sprint ,
Steel Industry ,
T-Mobile ,
Tariffs ,
Telecommunications ,
Tesla ,
US Trade Policies ,
Volkswagen
Facebook isn’t the only tech stock having a good week. Amazon—helped along by its booming cloud business—more than doubled its net income in Q1 as compared to a year ago....more
4/27/2018
/ 401k ,
Amazon ,
ConocoPhillips ,
Cryptocurrency ,
Digital Currency ,
Disney ,
Facebook ,
Financial Crimes ,
GDP ,
Huawei ,
Initial Public Offering (IPO) ,
Investment Products ,
Iran Sanctions ,
Nasdaq ,
Quarterly Report ,
Retirement Plan ,
Telecommunications ,
Virtual Currency ,
Wells Fargo
Facebook’s Q1 results make a strong case for Zuckerberg and his ilk riding out arguably its most serious crisis to date (the flood of criticism over its privacy practices and handling of user data) with next-to-no effect on...more
4/26/2018
/ Bitcoin ,
Chipotle Grill ,
Comcast ,
Commodities ,
Consumer Complaint System ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Deutsche Bank ,
Facebook ,
Futures ,
Housing Market ,
Market Manipulation ,
Mortgages ,
Operating Lease ,
Public Disclosure ,
Publicly-Traded Companies ,
Quarterly Report ,
Spoofing ,
UBS
China announced yesterday that it was loosening its rules forcing foreign carmakers to link up with a local partner before building factories in China—a move that some see as a step to lowering tensions with the US....more
4/18/2018
/ Automotive Industry ,
Bitcoin ,
Broker-Dealer ,
China ,
Class Action ,
Class Certification ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Discriminatory Lending Practices ,
E-Commerce ,
Electronically Stored Information ,
IRS ,
Markups ,
Online Sales Tax ,
Recessions ,
RMBS ,
South Dakota v. Wayfair ,
Stored Communications Act ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Tax Returns ,
Tesla ,
Third Party Lenders ,
US Trade Policies ,
US v Microsoft ,
Wells Fargo
Some analysis of Friday’s less-than-booming jobs report – NYTimes and Bloomberg And a look at Fed Chair Powell’s first major remarks on the state of the economy and the potential effects a trade war would have on the Fed’s...more
4/9/2018
/ Asset Freeze ,
China ,
Cryptocurrency ,
Data Collection ,
Deutsche Bank ,
Enforcement Actions ,
Facebook ,
Financial Services Industry ,
FinTech ,
HSBC ,
India ,
Interest Rate Adjustments ,
Job Creation ,
Libor ,
Mark Zuckerberg ,
Market Manipulation ,
Personal Data ,
Privacy Concerns ,
Securities and Exchange Commission (SEC) ,
Tariffs ,
Trade Relations ,
Unemployment ,
Unregistered Securities ,
US Trade Policies ,
Wells Fargo
Spotify’s unconventional (non-IPO) public listing is off and running, and though it’s early, it sure feels as if the risk was a good one, with the market valuing the company north of $30 billion....more
4/4/2018
/ Blockchain ,
Capital Raising ,
China ,
Cryptocurrency ,
Digital Currency ,
Financial Markets ,
FinTech ,
Fraud ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Regulation A ,
Securities and Exchange Commission (SEC) ,
Spotify ,
Startups ,
Stock Prices ,
Token Sales ,
Virtual Currency
The White House’s protectionist plan to impose roughly $60 billion in annual tariffs on Chinese imports went over like a lead balloon on Wall Street, sparking fears of a trade war, increased volatility, and unintended ripple...more
3/23/2018
/ Aluminum Sales ,
Amazon Marketplace ,
AT&T ,
Bitcoin ,
China ,
Class Action ,
Corporate Culture ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Forex ,
Grocery Stores ,
HSBC ,
Imports ,
Infrastructure ,
Jeff Bezos ,
Martin Shkreli ,
National Security ,
Nike ,
Private Equity ,
RBS ,
Steel Industry ,
Tariffs ,
Trump Administration ,
US Trade Policies ,
Virtual Currency ,
Whole Foods
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
3/22/2018
/ Cambridge Analytica ,
China ,
Credit Suisse ,
Cryptocurrency ,
Data Breach ,
Digital Currency ,
Dodd-Frank ,
Driverless Cars ,
ETFs ,
Facebook ,
Interest Rate Adjustments ,
Mark Zuckerberg ,
Martin Act ,
Rental Insurance ,
RMBS ,
UBS ,
US Trade Policies ,
Virtual Currency ,
Volcker Rule
The Journal dropped something of a bomb on Friday with news that Goldman Sachs’ CEO Lloyd Blankfein is heading out the door as soon as the end of the year. If true, Goldman will likely look for his replacement within its...more
3/12/2018
/ Bitcoin ,
Blockchain ,
China ,
Class Action ,
Corporate Officers ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Dow Chemical ,
Dropbox ,
DuPont ,
Goldman Sachs ,
Initial Public Offering (IPO) ,
Job Creation ,
Martin Shkreli ,
Pharmaceutical Industry ,
RMBS ,
Securities Fraud ,
Term Limits ,
Unemployment ,
Virtual Currency ,
Wells Fargo
Heath insurance behemoth Cigna has agreed to buy Express Scripts—a “pharmacy benefits manger”—for $67 billion in cash and stock, including assuming $15 billion of its debt. The merger is one of a series of big moves in the...more
3/8/2018
/ Administrative Law Judge (ALJ) ,
Aluminum Sales ,
Beverage Manufacturers ,
Bitcoin ,
Brick-and-Mortar Stores ,
Broadcom ,
CIGNA ,
Coca Cola ,
Commercial Bankruptcy ,
Cryptocurrency ,
Digital Currency ,
E-Commerce ,
Global Market ,
Housing Market ,
Imports ,
Initial Coin Offering (ICOs) ,
Internet Retailers ,
Real Estate Transactions ,
Retailers ,
Securities and Exchange Commission (SEC) ,
Steel Industry ,
Tariffs ,
Token Sales ,
Toys R Us ,
Trump Administration ,
US Trade Policies ,
Virtual Currency
Walmart’s shares took a hit yesterday on Q4 results that showed slowing online sales and below-expected earnings despite a rise in revenue....more
2/21/2018
/ AT&T ,
Bitcoin ,
Cryptocurrency ,
Digital Currency ,
Fannie Mae ,
Financial Conduct Authority (FCA) ,
Freddie Mac ,
HSBC ,
Janet Yellen ,
Money Laundering ,
Quarterly Report ,
SCOTUS ,
Tax Evasion ,
Time Warner ,
U.S. Treasury ,
UK ,
Virtual Currency ,
Wal-Mart
A quiet Monday appears to be leading to a busy Tuesday morning, with Qualcomm upping its bid for NXP (in a move that could help it fend off Broadcom) and Albertson’s looking to join forces with what’s left of Rite Aid Corp...more
2/20/2018
/ Bitcoin ,
Caterpillar ,
Cryptocurrency ,
Cybersecurity ,
Cybertheft ,
Deutsche Bank ,
Digital Currency ,
France ,
Hackers ,
Initial Public Offering (IPO) ,
International Labor Laws ,
Johnson & Johnson ,
Olympics ,
Qualcomm ,
Reinsurance ,
Rite Aid ,
Spotify ,
Tax Liability ,
Virtual Currency
Nordstrom’s doing what it can to fight the seemingly inevitable decline of many retailers in the face of online competition. The family-run company has been revamping stores, amassing e-commerce companies, and launching new...more
2/15/2018
/ Carried Interest Tax Rates ,
Consumer Price Index ,
Corporate Taxes ,
Cryptocurrency ,
Digital Currency ,
Fannie Mae ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Global Economy ,
Inflation Adjustments ,
Mortgages ,
Nordstrom Inc. ,
Olympics ,
Regulatory Oversight ,
Retailers ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Virtual Currency ,
White Collar Crimes
Volatility was again the name of the game on Thursday in the US markets, which closed down nearly 4% again and headed into official “correction” territory....more
2/9/2018
/ Alphabet Company ,
Amazon Marketplace ,
Anti-Fraud Provisions ,
Appraisal ,
Bitcoin ,
Broadcom ,
Class Action ,
Commercial Real Estate Market ,
Countrywide ,
Cryptocurrency ,
currency ,
Department of Labor (DOL) ,
Dow Jones ,
Driverless Cars ,
Fiduciary Rule ,
Financial Markets ,
Financial Services Industry ,
NYDFS ,
Qualcomm ,
Samsung ,
Shipping ,
Social Media ,
SoftBank ,
Trade Secrets ,
Twitter ,
Uber ,
Virtual Currency
Mr. Dow’s wild ride ended on an upswing yesterday, with the DJIA adding back nearly 600 points and the three primary US indices up between 1.7 and 2.3%....more
2/7/2018
/ Bitcoin ,
Cryptocurrency ,
Digital Currency ,
Dow Jones ,
Financial Markets ,
Inflation Adjustments ,
Keurig Inc ,
Regulatory Oversight ,
Regulatory Standards ,
Securities and Exchange Commission (SEC) ,
Snapchat ,
Social Media ,
Stock Prices ,
Virtual Currency
Even as JPMorgan has set the playing field for his successor (Daniel Pinto v. Gordon Smith, FYI), head honcho Jamie Dimon is making it clear that he’s not about to go anywhere anytime soon....more
1/31/2018
/ Advertising ,
Amazon Marketplace ,
Apple ,
Berkshire Hathaway ,
Bitcoin ,
BlackRock ,
Capital Raising ,
Class Action ,
Class Certification ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Digital Currency ,
Dow Jones ,
Elon Musk ,
Facebook ,
Financial Crisis ,
Initial Coin Offering (ICOs) ,
iPhone ,
JPMorgan Chase ,
Kodak ,
RMBS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Social Media ,
Software ,
Tesla ,
Virtual Currency ,
Wall Street ,
Xerox
With Davos 2018 in the rear view mirror, some analysts are pegging the “geopolitical momentum” as China’s to claim, thanks in no small part to its expansive and ongoing “Belt and Road” initiative....more
1/29/2018
/ Alibaba ,
Arbitration ,
BNP Paribas ,
Canada ,
China ,
Cryptocurrency ,
Cyber Crimes ,
Cybertheft ,
Deutsche Bank ,
Digital Currency ,
Foreign Relations ,
Forex ,
Free Trade Agreements ,
General Data Protection Regulation (GDPR) ,
Global Economy ,
Infrastructure ,
Initial Public Offering (IPO) ,
International Data Transfers ,
Investor State Dispute Settlement (ISDS) ,
Lenovo ,
Mexico ,
Morgan Stanley ,
NAFTA ,
RMBS ,
Saudi Arabia ,
Trading Platforms ,
World Economic Forum
ECB Chief Mario Draghi’s having none of the US Treasury Secretary’s recent weak-dollar talk, accusing the US official, in not so many words, of “violating agreements among nations against starting currency wars”....more
1/26/2018
/ Amazon Marketplace ,
Automotive Industry ,
Bitcoin ,
Corruption ,
Cryptocurrency ,
Currency Fluctuation ,
Digital Currency ,
Financial Crisis ,
Layoffs ,
Municipal Securities Market ,
National Emissions Standards ,
Puerto Rico ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
SoftBank ,
Tax Cuts and Jobs Act ,
Tax Reform ,
U.S. Treasury ,
Uber ,
Virtual Currency ,
Volkswagen ,
White Collar Crimes
NYSE owner Intercontinental Exchange is looking to do the as-yet inconceivable: bring some order to cryptocurrencies. The plan, announced yesterday, is to launch a data feed that pull info from cryptocurrency exchanges around...more
1/19/2018
/ Administrative Appointments ,
Amazon Marketplace ,
Anti-Money Laundering ,
Apple ,
Bitcoin ,
Cryptocurrency ,
Currency Exchange ,
Cybersecurity ,
Department of Justice (DOJ) ,
Digital Currency ,
Financial Markets ,
HSBC ,
Initial Coin Offering (ICOs) ,
IOSCO ,
IRS ,
NYSE ,
OCC ,
Offshore Funds ,
Presidential Appointments ,
Regulatory Oversight ,
Repatriation ,
Technology Sector ,
Virtual Currency
The Times explores the $27 billion in fixed-income-trading income that has seeped out of Wall Street over the past 5 years thanks to “a combination of tough regulations, new technologies, calm markets and changing customer...more
1/12/2018
/ Anti-Money Laundering ,
Banks ,
Bitcoin ,
Cryptocurrency ,
Data Storage Providers ,
Digital Currency ,
Dropbox ,
ETFs ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
Fixed Income Investments ,
Initial Public Offering (IPO) ,
Iran ,
Regulatory Standards ,
Shopping Centers ,
South Korea ,
Virtual Currency
AT&T has dropped plans to sell the Mate 10—the newest smartphone from China’s Huawei Technologies—just before the partnership was to be announced. AT&T gave no reasons for its abrupt reversal, but lawmakers have recently...more
1/10/2018
/ Anti-Money Laundering ,
AT&T ,
Banks ,
Bitcoin ,
Blockchain ,
Bond Markets ,
Broker-Dealer ,
China ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Dominos ,
Enforcement Actions ,
Espionage ,
FCC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
FinCEN ,
Hackers ,
Huawei ,
Initial Coin Offering (ICOs) ,
Insider Trading ,
Intel ,
Kodak ,
Regulatory Oversight ,
Regulatory Violations ,
Securities Violations ,
Smartphones ,
Telecommunications ,
Telemarketing Sales Rule ,
Virtual Currency ,
Vulnerability Assessments
An overview of last Friday’s jobs report, which saw the US adding fewer jobs than expected but also tracked a welcomed increase in wages for the least-educated workers....more
1/8/2018
/ Bank of America ,
Bitcoin ,
Class Action ,
Corruption ,
Cryptocurrency ,
Department of Labor (DOL) ,
Digital Currency ,
Economic Development ,
Fair Labor Standards Act (FLSA) ,
False Claims Act (FCA) ,
Job Creation ,
Petrobras ,
Securities Litigation ,
Sharing Economy ,
SoftBank ,
Toyota ,
Uber ,
Unpaid Interns ,
White Collar Crimes