Your daily dose of financial news The Brief – 2.3.16

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In what would be the largest acquisition of a foreign corporation ever, state-owned ChemChina is nearing a deal to purchase Switzerland’s Syngenta (besting US-based Monsanto’s overtures to do the same). The deal could help China “revolutionize its agriculture sector,” though there’s already controversy brewing over “the Chinese government controlling our genetically modified seeds.” Stay tuned – NYTimes and WSJ

Yahoo’s reportedly “open to all options” for its core assets, which means that while it’s inviting offers for their outright purchase it’s also moving ahead with plans to spin them out. All part of yet another attempt by embattled CEO Marissa Mayer to reassure shareholders that Yahoo really does know what kind of company it is and wants to be (besides a smaller one) – NYTimes and Bloomberg

The Journal weighs in on how the unstoppable dollar is making life very difficult for Dr. Yellen and the Fed – WSJ

Morgan Stanley’s paying $63 million to the FDIC to resolve federal and state claims that it made misrepresentations in offering RMBS to a handful of failed banks – Law360

Thanks largely to the arrival of newly elected President Mauricio Macri, Argentina’s reengaging in negotiations with the holdout creditors from a debt restructuring deal 15 years ago. If successful, the talks could put an end to the drama we’ve been tracking for the past 18 months in and out of New York federal courts – NYTimes

Judge Shira Scheindlin has granted class certification for Barclays investors who have accused the British banking giant of lying about the risk of trading on its off-exchange dark pool – Law360

The NYSE’s little-used Rule 48—meant to “help dampen volatility by letting market-makers forgo disseminating information about how stocks might trade at the opening”—is heading toward its demise, a casualty of the wild morning of last August 24 when the Rule “ended up exacerbating problems and delayed trading for some stocks” – WSJ

Former Turing Pharmaceuticals chief Martin Shkreli is likely to refuse to talk to Congress tomorrow, but his documents have already said plenty. Yesterday, congressional investigators released Shkreli emails that show the young CEO “gloat[ing] about the money to be made on Daraprim,” one of the drugs that Turing acquired and then raised the price on fiftyfold – NYTimes

A bit of hope for oil prices (and stocks?) by the end of the year?  Maybe?  – Bloomberg

Because irony is alive and well in America, we  can all look forward to getting in the car and driving to an actual Amazon store to buy an actual book – Reuters and WSJ

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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