Kraft Heinz dropped a double-whammy on investors on Thursday, announcing a $15 billion charge against its Kraft and Oscar Mayer brands and revealing news of an SEC subpoena related to the company’s accounting practices....more
2/22/2019
/ 5G Network ,
Accounting Fraud ,
Asbestos ,
Baby Products ,
Banks ,
Canada ,
Cancer ,
Case Consolidation ,
China ,
Class Action Arbitration Waivers ,
Consumer Financial Protection Bureau (CFPB) ,
Criminal Investigations ,
Danske Bank ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Financial Crimes ,
Ford Motor ,
Google ,
Heinz ,
Huawei ,
Initial Public Offering (IPO) ,
Johnson & Johnson ,
Kraft ,
Mesothelioma ,
Money Laundering ,
Mortgage Servicers ,
National Emissions Standards ,
Pinterest ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Sexual Harassment ,
Standard Chartered Bank ,
Tariffs ,
Toxic Exposure ,
US Trade Policies
CBS isn’t the only large company with insider trading worries. In complaints made public yesterday, the SEC has accused Gene Levoff, Apple’s former senior director of corporate law and corporate secretary, of “repeatedly”...more
2/14/2019
/ Apple ,
Automobile Recall ,
CBS ,
CFTC ,
Class Action ,
Cloud Computing ,
Commercial Bankruptcy ,
Compensation & Benefits ,
Data Breach ,
Enforcement Actions ,
Examination Priorities ,
Ford Motor ,
Futures ,
General Electric ,
Google ,
Housing Market ,
Initial Public Offering (IPO) ,
Insider Trading ,
Levi Strauss ,
Product Defects ,
Renault-Nissan ,
Retail Market ,
Sears ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Sprint ,
Swaps ,
T-Mobile ,
Takeover Bids ,
Telecommunications ,
Trade Options ,
Wendy's
All of that SuperBowling seems to have put activist investor Starboard in the mood for some pizza—specifically, former NFL-partner Papa John’s, which has struggled in the wake of the removal of its founder and namesake John...more
2/4/2019
/ Amazon Marketplace ,
Apple ,
Berkshire Hathaway ,
Citgo ,
Commercial Bankruptcy ,
Confidential Information ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Facebook ,
Federal Reserve ,
Former Employee ,
Goldman Sachs ,
Google ,
Interest Rate Adjustments ,
JPMorgan Chase ,
Misappropriation ,
Online Marketplace Lending ,
Opioid ,
OxyContin ,
Papa John's International ,
Payday Loans ,
Pharmaceutical Industry ,
Proprietary Information ,
Sears ,
Venezuela
The Fed wrapped its January meetings yesterday with the expected news that it would leave the benchmark interest rate unchanged and the less-guaranteed report that it was hitting the pause button on future rate hikes (aka,...more
1/31/2019
/ Activist Investors ,
Alphabet Company ,
Apple ,
China ,
Commerzbank ,
Data Collection ,
Deutsche Bank ,
Diversity ,
EU ,
Facebook ,
Federal Reserve ,
GDP ,
General Elections ,
Global Market ,
Google ,
Interest Rates ,
Internal Controls ,
KPMG ,
Privacy Concerns ,
Scams ,
Takeovers ,
Tariffs ,
Trade Relations ,
UK Brexit
A quick spin through the Fed’s December minutes shows that most Fed officials are set on slowing their previously regular rate hike schedule, only reinforcing the message that Fed Chair Powell delivered last week that the...more
1/10/2019
/ BlackRock ,
China ,
Danske Bank ,
EU ,
Exports ,
Federal Budget ,
Google ,
Government Shutdown ,
Imports ,
Interest Rate Adjustments ,
Money Laundering ,
Right to Be Forgotten ,
Tariffs ,
Trade Relations ,
Trump Administration ,
UK Brexit ,
US Trade Policies ,
Wall Street
The Federal Reserve, as long forecast, raised its benchmark interest rate a quarter point on Wednesday. Chair Powell noted that a downturn in financial markets and weakened financial growth “may signal some softening relative...more
12/20/2018
/ Asbestos ,
Automotive Loans ,
Benchmarks ,
Cambridge Analytica ,
Cancer ,
Collateralized Loan Obligations ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
E-Cigarettes ,
Facebook ,
Federal Reserve ,
Financial Markets ,
Google ,
Interest Rates ,
Investment Fraud ,
Johnson & Johnson ,
Misrepresentation ,
Mobile Payments ,
Personal Care Products ,
Political Campaigns ,
Public Health ,
SoftBank ,
Square ,
Wall Street
Wall Street’s brutal December continued yesterday, with stocks diving to a new low “as investors braced for a Federal Reserve decision on interest rates this week and health care stocks were roiled by a decision about the...more
12/18/2018
/ Affordable Care Act ,
Anti-Money Laundering ,
Bank of New York (BNY) Mellon ,
CBS ,
Compensation & Benefits ,
Credit Suisse ,
Failure to Comply ,
Financial Markets ,
Financial Transactions ,
Foreign Investment ,
Google ,
Interest Rate Adjustments ,
Internal Investigations ,
Recessions ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Severance Pay ,
Sexual Harassment ,
Short-Term Investments ,
Silicon Valley ,
SpaceX ,
Sprint ,
Stock Prices ,
Stocks ,
T-Mobile ,
UBS ,
Wall Street
Prime Minister Theresa May has proven herself to be a remarkably good political survivor in the face of tall odds, but even she will have a difficult time this time around. Members of her own Tory party have called for a...more
12/12/2018
/ AOL ,
Banks ,
China ,
Elder Abuse ,
Enforcement Actions ,
Extradition ,
Federal Trade Commission (FTC) ,
Financial Markets ,
Foreign Relations ,
Google ,
Huawei ,
Infrastructure ,
Internet Streaming ,
Living Will ,
Net Neutrality ,
Netflix ,
Real Estate Investments ,
Regulatory Oversight ,
Scams ,
Securities and Exchange Commission (SEC) ,
Tariffs ,
Trade Relations ,
UK Brexit ,
US Trade Policies ,
Verizon ,
Yahoo!
With the phrase “humiliating defeat” being bandied about quite freely by opposition leaders and Tory backbenchers alike, PM May delayed a parliamentary vote for her EU-backed Brexit plan that had been set for today. The...more
12/11/2018
/ Administrative Agencies ,
Administrative Appointments ,
Amazon Marketplace ,
CFTC ,
China ,
Deutsche Bank ,
Google ,
Huawei ,
iPhone ,
Patent Infringement ,
Presidential Appointments ,
Qualcomm ,
RMBS ,
Tariffs ,
Testimony ,
Trade Relations ,
Trump Administration ,
UK Brexit ,
US Trade Policies ,
Wireless Industry
As widely expected, the Fed held rates steady when it wrapped its Open Market Committee meeting yesterday afternoon and deemed the economy “in good health,” laying the groundwork for another rate increase next month....more
11/9/2018
/ Department of Justice (DOJ) ,
Ether Tokens ,
European Central Bank ,
Federal Reserve ,
Financial Crisis ,
Financial Markets ,
Futures ,
Google ,
Interest Rates ,
Investment Fraud ,
JPMorgan Chase ,
Policies and Procedures ,
Putative Class Actions ,
RMBS ,
Securities and Exchange Commission (SEC) ,
Sexual Harassment ,
Spoofing ,
Stocks ,
Trading Platforms ,
UBS ,
Unregistered Securities
Federal prosecutors filed criminal charges yesterday against two former Goldman Sachs investment bankers for their alleged role in the Malaysian 1MDB scandal....more
11/2/2018
/ #MeToo ,
Automobile Recall ,
Automotive Industry ,
Business Interruption ,
Corporate Executives ,
Corporate Governance ,
Criminal Prosecution ,
Deutsche Bank ,
Elon Musk ,
Freight Forwarding ,
Goldman Sachs ,
Google ,
IMDB ,
Indictments ,
Job Creation ,
Product Defects ,
RMBS ,
Sexual Harassment ,
Strike ,
Tesla ,
Toyota ,
Trade Secrets ,
UPS ,
White Collar Crimes
A recap of Friday’s GDP numbers, which featured both a strong 3.5% growth rate and early signs that “the growth could cool in coming months”...more
10/29/2018
/ Anti-Competitive ,
Automotive Loans ,
Bank of America ,
Barclays ,
Bribery ,
Business Valuations ,
Capital Raising ,
Citibank ,
Cloud Computing ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
Economic Development ,
Equifax ,
Forex ,
GDP ,
Google ,
IBM ,
JPMorgan Chase ,
Marijuana ,
Market Manipulation ,
Payday Lending Rule ,
Payday Loans ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Sexual Harassment ,
Software Developers ,
Stock Prices ,
Tesla ,
Title Loans ,
Video Games ,
Wal-Mart ,
White Collar Crimes
The Upshot helps us understand exactly what’s been going on with the markets this week and what a late-bull-market reality means for the US (and global) economy....more
10/26/2018
/ 5G Network ,
Airlines ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Restructuring ,
Data Breach ,
Dual Class Share Structures ,
European Central Bank ,
Financial Crisis ,
Financial Markets ,
Fintech Charter ,
Global Economy ,
Google ,
Hilton ,
Institutional Investors ,
Italy ,
JPMorgan Chase ,
Layoffs ,
Mobile Devices ,
Nasdaq ,
Netflix ,
Nokia ,
NYSE ,
OCC ,
Regulatory Violations ,
Sexual Harassment ,
Student Loans ,
Wireless Industry
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
10/17/2018
/ Android ,
Antitrust Provisions ,
Audi ,
Automotive Industry ,
Banks ,
Capital Raising ,
Carbon Emissions ,
Commercial Bankruptcy ,
Debt ,
Debt Ceiling ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Earnings Reports ,
Elon Musk ,
Embedded Tweets ,
EU ,
Federal Reserve ,
Fees ,
Germany ,
Goldman Sachs ,
Google ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
Lyft ,
Market Manipulation ,
Mobile Apps ,
Mobile Devices ,
Nasdaq ,
NYSE ,
RMBS ,
Sears ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Sharing Economy ,
Tesla ,
Twitter ,
Uber ,
Volkswagen ,
White Collar Crimes
Markets took a beating yesterday, with investors apparently put off by tech stocks, tensions with China, a recent jump in interest rates and government bond yields, and a tightening Fed monetary policy....more
10/11/2018
/ Aetna ,
Automotive Industry ,
Barclays ,
Canada ,
CFIUS ,
China ,
Citibank ,
Competition ,
CVS ,
Data Breach ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Failure to Notify ,
Financial Fraud ,
Financial Markets ,
Foreign Investment ,
Forex ,
Google ,
JPMorgan Chase ,
Marijuana Related Businesses ,
Money Laundering ,
National Security ,
Printed Publications ,
Regulatory Oversight ,
Regulatory Requirements ,
SoftBank ,
Starbucks ,
Technology Sector ,
Volkswagen ,
Wall Street ,
White Collar Crimes
Dealbook gives us this uncomfortable take on China’s “nuclear option” in the trade war with the United States—its holdings of more than $1 trillion in US foreign debt and the possibility of stepping back from buying (or even...more
10/10/2018
/ Capital Raising ,
China ,
Commercial Bankruptcy ,
Credit Suisse ,
Data Breach ,
Deutsche Bank ,
EU ,
Google ,
Hackers ,
HSBC ,
Imports ,
Mobile Devices ,
Morgan Stanley ,
Olympics ,
Retailers ,
RMBS ,
Sears ,
Securities Violations ,
Settlement ,
SoftBank ,
Spectator Sports ,
Startups ,
Stock Prices ,
Tariffs ,
Trade Relations ,
Trade Retaliation ,
Trump Administration ,
UBS ,
UK ,
UK Brexit ,
US Trade Policies ,
Vulnerability Assessments
Google has announced plans to shutter Google Plus, its “floundering answer to Facebook,” following the discovery of a security vulnerability that “exposed the private data of up to 500,000 users of the service.” Google...more
10/9/2018
/ 21st Century Fox ,
Amazon Marketplace ,
Apple ,
China ,
Class Action ,
Cybersecurity ,
Data Breach ,
Disney ,
Google ,
Hackers ,
Hedge Funds ,
Identity Theft ,
Insider Trading ,
Netflix ,
Papa John's International ,
Personally Identifiable Information ,
Securities and Exchange Commission (SEC) ,
Surveillance ,
Takeover Bids ,
Tariffs
Hard to imagine that any financial news could come close to making headlines on Thursday, and yet, the SEC and Elon Musk came close. Specifically, the SEC filed suit against Musk, accusing him of “making false public...more
9/28/2018
/ Bribery ,
Comcast ,
Consumer Protection Laws ,
Corruption ,
Derivatives ,
Deutsche Bank ,
Disney ,
Elon Musk ,
Enforcement Actions ,
Google ,
Hulu ,
IRS ,
Japan ,
KPMG ,
Libor ,
MA Supreme Judicial Court ,
Meal and Entertainment Expenditures ,
Misleading Statements ,
New Guidance ,
Petrobras ,
Public Statements ,
Sears ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Student Loans ,
Tariffs ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Tesla ,
Trade Relations ,
US Trade Policies ,
White Collar Crimes
In January 2017, Alibaba co-founder Jack Ma was proudly promising to create 1 million jobs in America—a heady promise but one not unthinkable given Alibaba’s massive scale. Fast forward 20 months and a growing Sino-American...more
9/21/2018
/ Alibaba ,
Anti-Money Laundering ,
Banking Sector ,
Bear Sterns ,
Big Data ,
CBS ,
CFTC ,
Competition Authorities ,
Corporate Bonds ,
Data Collection ,
Data-Sharing ,
Email ,
Financial Crimes ,
Financial Institutions ,
Google ,
Initial Public Offering (IPO) ,
Job Creation ,
JPMorgan Chase ,
Kokesh v SEC ,
Market Manipulation ,
Money Laundering ,
NYSE ,
On-Demand Services ,
Payment Processors ,
PayPal ,
Privacy Concerns ,
Resignation ,
Securities and Exchange Commission (SEC) ,
Severance Pay ,
Sexual Harassment ,
Spoofing ,
Uber ,
UK ,
Wells Fargo ,
White Collar Crimes
As expected based on buzz from late last week, longtime CBS chief Les Moonves is out at the network he’s led for more than 20 years. While his exit has been in the works for some time, a report out yesterday detailing new...more
9/10/2018
/ Alibaba ,
Banking Sector ,
CBS ,
Citigroup ,
Countercyclical Capital Buffer (CCyB) ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Ether ,
EU ,
Financial Crisis ,
General Data Protection Regulation (GDPR) ,
Google ,
Job Creation ,
Pharmaceutical Industry ,
Privacy Concerns ,
Pump and Dump ,
Resignation ,
Right to Be Forgotten ,
Search Engines ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Sexual Harassment ,
Teva Pharmaceuticals ,
Trading Platforms ,
Unemployment
Big tech (including Facebook, Google [theoretically], and Twitter) is heading back to the Hill (with @jack pulling double-duty, because that’s how he rolls). Here’s what to expect today based on their prepared testimony....more
9/5/2018
/ Amazon Marketplace ,
Argentina ,
Banking Sector ,
Canada ,
Class Action ,
Corporate Fines ,
Corruption ,
Cross-Selling ,
Department of Justice (DOJ) ,
Emerging Markets ,
Enforcement Actions ,
EU ,
Facebook ,
Financial Crisis ,
Financial Markets ,
Free Trade Agreements ,
Google ,
Insurance Industry ,
Market Manipulation ,
Money Laundering ,
NAFTA ,
Settlement ,
Spoofing ,
State Farm ,
Stock Prices ,
Trade Relations ,
Twitter ,
US Trade Policies ,
Wells Fargo ,
White Collar Crimes
Coke is buying British coffee-shop chain Costa for $5.1 billion, as the coffee wars just keep on chugging. Costa has 3800 stores in 32 countries and “a foothold in China,” making Coke an instant player in the field....more
8/31/2018
/ Annuities ,
Argentina ,
Automotive Industry ,
Bias ,
China ,
Coca Cola ,
Emerging Markets ,
EU ,
Google ,
Interest Rate Adjustments ,
Investors ,
MasterCard ,
Merrill Lynch ,
Online Advertisements ,
Private Company Shares ,
Securities and Exchange Commission (SEC) ,
Tariffs ,
Trade Relations ,
Trump Administration ,
US Trade Policies ,
Wells Fargo ,
White Collar Crimes ,
WTO
Google is facing a federal lawsuit in San Francisco over last week’s AP investigation that showed that the search giant “was sill tracking iPhone and Android device users, even if they turned off the ‘Location History’...more
8/21/2018
/ Android ,
Arbitration ,
Automotive Industry ,
BlackRock ,
Cell Phones ,
China ,
Conflicts of Interest ,
ConocoPhillips ,
Cryptocurrency ,
Digital Currency ,
E-Commerce ,
Elon Musk ,
Enforcement Actions ,
Excessive Fees ,
Failure To Disclose ,
Fashion Industry ,
Google ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
Internet Retailers ,
Investment ,
iPhone ,
Location Data ,
Merrill Lynch ,
Mutual Funds ,
Oil & Gas ,
Regulatory Violations ,
Securities and Exchange Commission (SEC) ,
Tariffs ,
Tesla ,
Trade Relations ,
US Trade Policies ,
Venezuela ,
Virtual Currency
OMB official Kathleen Kraninger is likely to face serious questions as she takes to the Hill today to begin confirmation hearings for her surprise nomination to lead the Consumer Financial Protection Bureau. Why? Her lack of...more
7/19/2018
/ Administrative Appointments ,
Android ,
Antitrust Violations ,
Bondholders ,
China ,
Civil Monetary Penalty ,
Consumer Financial Protection Bureau (CFPB) ,
Dark Pool ,
Enforcement Actions ,
Environmental Violations ,
EU ,
FCC ,
Financial Regulatory Reform ,
Global Market ,
Google ,
Imports ,
Libor ,
National Emissions Standards ,
Netflix ,
Papa John's International ,
Radio Stations ,
Securities and Exchange Commission (SEC) ,
Senate Confirmation Hearings ,
SiriusXM ,
Smartphones ,
Tariffs ,
Technology Sector ,
Trade Relations ,
Trading Platforms ,
US Trade Policies ,
Volkswagen ,
Wendy's
European antitrust authorities have delivered a stinging rebuke to Google in the form of a $5.1 billion penalty over its Android operating system practices. The sum displaces last year’s $2.7 billion fine, also against...more
7/18/2018
/ Android ,
Antitrust Violations ,
Article III ,
Banks ,
Business Model ,
Code of Conduct ,
Coinbase ,
Data Breach ,
Enforcement Actions ,
Equifax ,
EU ,
Fast-Food Industry ,
Food Service Workers ,
Franchises ,
Fraudulent Charges ,
Goldman Sachs ,
Google ,
Joint Employers ,
Low-Wage Workers ,
McDonalds ,
Multidistrict Litigation ,
NLRB ,
Search Engines ,
Search Results ,
Standing ,
Stress Tests ,
Texas Instruments ,
US Trade Policies ,
Wages