Financial Daily Dose 12.11.2019 | Top Story: US and China Hint at Tariff Delay to Help Ease Phase One Negotiations

Robins Kaplan LLP

Robins Kaplan LLP

U.S. and Chinese trade negotiators are “laying the groundwork for a delay of a fresh round of tariffs set to kick in on Dec. 15” as the countries continue to work through how a Chinese promise to make huge ag purchases from American farmers would work – WSJ and Bloomberg

The FOMC is wrapping meetings today and will likely stand pat on rates—an expected move, but one that has piqued the interest of markets who wonder how long the quiet will last – NYTimes and WSJ and Bloomberg and MarketWatch

The University of Phoenix—“one of the nation’s largest for-profit college chains”—has agreed to a $191 million settlement with the FTC (including canceling some $141 million in student-loan debt) over allegations that it used self-described “smoke and mirrors” (read deceptive marketing) to “lure[] in students with fraudulent claims about partnerships with major companies” – NYTimes and MarketWatch

Tough loss for NY AG Letitia James and climate crusaders on Tuesday, as Justice Barry Ostrager ruled that the state failed to prove that Exxon Mobil engaged in fraud and violated NY’s Martin Act “through its statements about how it accounted for the costs of climate change regulation” – NYTimes and WSJ and Law360 and MarketWatch

The latest on the apparently agreed-upon [let’s just wait and see, okay?] new draft of the USMCA – NYTimes and WSJ and Bloomberg and Marketplace

Farmers and ranchers are split on their feelings toward the new deal – Bloomberg

Oil company Chevron is taking a $10+ billion charge against the value of its assets as part of an overall concession that “in an age of oil and gas overabundance, some will not be profitable anytime soon” – WSJ and Bloomberg

EDNY Judge Margo Brodie refused to dismiss a DOJ suit against UBS “accusing the bank of fraud in its pre-crisis sales of residential mortgage-backed securities, ruling the government could and did succeed in alleging fraudulent intent at this stage without pinning it on any individual employees” – Law360

New York Life has joined a host of other suitors (including MetLife and Sun Life) for Cigna’s nonmedical insurance products unit, “a deal that could be valued at as much as $6 billion” – WSJ and Bloomberg

The SEC may finally be getting serious about astroturfed notice-and-comment period letters – Law360

Let’s take a food journey through the past year with Pete, shall we? Just don’t do so on an empty stomach – NYTimes

Written by:

Robins Kaplan LLP

Robins Kaplan LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.