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Financial Daily Dose 1.10.2020 | Top Story: Ransomware Attack on Travelex Sows Chaos Across Foreign Exchange Sector

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Hackers who targeted airport currency exchange mainstay Travelex in a ransomware attack on New Year’s Eve have alerted British media that they possess 5 GB of sensitive customer data from the company “since gaining access to...more

Thomas Fox - Compliance Evangelist

Top SEC Enforcement Actions from 2019

Yesterday, I considered five Department of Justice (DOJ) Foreign Corrupt Practices Act (FCPA) enforcement actions. Today, I want to look at key FCPA enforcement actions by the Securities and Exchange Commission (SEC)....more

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Financial Daily Dose 12.03.2019 | Top Story: US Threatens Tariffs on French Goods Over New Digital Services Tax

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Because who wants a nice quiet December, right? Yesterday, the U.S. opened yet another trade war front by proposing retaliatory tariffs of up to 100% on a wide range of French imports after announcing that “it found France’s...more

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Financial Daily Dose 11.06.2019 | Top Story: Walgreens Boots Working With PE Firms to Go Private

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Bloomberg is reporting that Walgreens Boots is weighing a potential deal “to take the company private in what could become the largest leveraged buyout in history.” PE firms like KKR are apparently in the mix to assist in the...more

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Financial Daily Dose 10.15.2019 | Top Story: Uber lays off 350 more corporate workers in effort to control costs

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Ride-hailing giant Uber laid off 350 workers on Monday as part of an ongoing effort to pare costs that now represents 1000 jobs cut since July....more

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Financial Daily Dose 8.2.2019 | Top Story: White House Threatens More Tariffs on China

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Apparently hoping to urge China off of its new go-slow tactic, the White House is applying its maximum pressure campaign again, announcing yesterday that the US will “impose a 10 percent tariff on an additional $300 billion...more

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Financial Daily Dose 7.29.2019 | Top Story: Pfizer and Mylan Join Forces to Create Generics Powerhouse

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Drug giants Pfizer and Mylan have inked a deal that will merge the former’s off-patent drugs with the latter’s generics business, a tie-up that creates a mammoth global seller of lower-priced medicines....more

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We were pretty sure that the Fed would keep interest rates steady as it wrapped its Open Market Committee meetings yesterday, and Fed Chair Powell delivered on that expectation. He also admitted that the same lack of...more

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Just months after Whole Foods raised prices on certain items after an initial Amazon-pushed lowering, Bezos & Co. are planning cuts on “hundreds of items” as early as this week in an effort to “change the chain’s high-cost...more

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OxyContin-maker Purdue Pharma and its owners, the Sackler family, reached a deal this week with the state of Oklahoma in which they will pay “$270 million to avoid going to a state court trial over the company’s role in the...more

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Federal regulators moved this week to “ease oversight of Wall Street firms by scaling back two major mechanisms that were imposed to scrutinize big financial companies in the wake of the financial crisis.” ...more

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Some continuing reaction to the potential end to the trade war between the US and China, through the lens of a Delaware lighting store [NYTimes] and US businesses far more broadly, who are grappling with the question of what...more

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OxyContin maker Purdue Pharm is prepping for a possible bankruptcy filing “as it seeks to contain liability from hundreds of lawsuits alleging it fueled the nation’s opioid epidemic.” Officially, the company went on the...more

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GE—still in streamlining mode—agreed yesterday to sell its biopharma business to Danaher (current CEO Larry’s Culp’s former company, btw) for a reported $21.4 billion in the form of $21 billion in cash and $400 million in...more

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Qatar and ExxonMobil are teaming up on a $10 billion natural gas investment plan in Texas and America’s growing status as an LNG exporting power....more

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Though expected after its earlier move to cut its revenue forecast, Apple’s official quarterly profits reporting yesterday still disappointed, as the company posted its “first holiday-quarter drop in both revenue and profit...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - January 2019 #2

WV Supreme Court Mulls Marcellus Shale Mass Litigation Case from Harrison, WV - "While the case centers on Harrison County, where the surface owners live and the Marcellus Shale operations are underway, the case could have...more

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The White House is reportedly considering easing some tariffs on Chinese markets “as a way to calm markets and give Beijing an incentive to make deeper concessions in a trade battle that has rattled global economies.” The...more

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The Fed will wrap up its Open Markets Committee meeting today, and the recent dive on Wall Street has rather suddenly brought a bit of drama to what was a long-promised rate hike. Here’s a bit of background on what it’s been...more

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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

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The author who literally wrote the book on the Enron is warning that the next financial crisis is lurking underground—aka, fracking has “turned the energy world upside down,” and it’s pulled in a bunch of Wall Street along...more

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Milwaukee-based Harley-Davidson announced on Monday that it will shift some of its motorcycle production overseas “to avoid retaliatory tariffs imposed by the European Union” in response to the White House’s trade moves....more

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In what can only be described as a Lazarus-like return, the Ex-Im Bank is reportedly nearly back on its feet again. The White House has chosen Kimberly Reed to helm the agency after prior nominee Scott Garrett was rejected by...more

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As widely expected, the Fed nudged short term interest rates up another quarter percent yesterday and reflected its belief in the strength of the US economy by promising another two rate hikes this year....more

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The High Court has a daunting lineup of decisions yet to issue this year, but it’s checking one off the list with yesterday’s 5-4 holding upholding the right of companies to use arbitration clauses in employment contracts “to...more

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