Treasury Secretary Yellen perhaps inadvertently dipped back into Fed Chair mode for a bit on Tuesday, acknowledging that some movement in interest rates may be necessary to “keep the economy from overheating given the large...more
The latest on the potential Oracle/TikTok deal includes news that the Treasury Department has added requirements addressing “how TikTok’s data and source code would be handled and secured” to any potential deal that the...more
As the world grapples with the health threat posed by the novel coronavirus (COVID-19), the secondary threats of the coronavirus—including economic and financial consequences—have come into clear view....more
The global market for credit is estimated to be more than $200 trillion, approximately three times larger in aggregate than the global equity market. It consists of bank loans, sovereign and sub-sovereign debt, corporate...more
Wells Fargo’s latest CEO, Charles Scharf—the bank’s third chief in the past four years—faced a hostile but less pitchfork-and-torch wielding House Financial Services Committee hearing on Tuesday, distancing himself from his...more
HP has officially rejected Xerox’s enhanced takeover bid, again calling the offer “too low” and decrying its “disproportionate[] benefit” for Xerox shareholders....more
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
More than a bit of drama in the auto world yesterday, with General Motors suing rival Fiat Chrysler, accusing it of “bribing United Auto Workers officials to gain competitive advantages in contract negotiations.” The UAW’s...more
PG&E’s woes continue. Not only is the company still in the midst of a dangerous fire season, but it’s struggling to find a path out of bankruptcy while fending off a growing chorus of cities and state officials “threatening...more
Fed Chair Powell was far from the main attraction on the Hill yesterday, but hey, let’s keep it on topic here and note his belief that the U.S. economy is performing well even as certain risks—including “sluggish growth...more
Jobs Report Friday again. Here’s what we’re watching, including the possibility of scary low numbers thanks to the only-recently-resolved GM strike....more
As universally expected, the Fed’s Open Market Committee delivered its third interest rate cut of 2019 yesterday, though it did so while signaling that it’s likely to pause before taking action again and “is now shifting into...more
The ECB was even more aggressive than expected in its moves to “head off a downturn before it gained momentum,” cutting a key interest rate and reviving “a money-printing program.” At the same time, the central bank “issued...more
There’s some surprise market wheeling and dealing afoot this morning. The Hong Kong stock exchange has offered to buy its London counterpart as part of a deal valued at $37 billion that would connect “the established...more
Friday remarks from Fed Chair Powell in Zurich confirmed the central bank’s dedication to keeping the US economic expansion on track and appear to have signaled the Fed’s plan to cut interest rates for a second time this...more
Google will pay a “record $170 million fine and make changes to protect children’s privacy on YouTube” as part of a deal it reached this week with the FTC and NY AG’s office, both of whom had accused YouTube of “violating the...more
Man-of-the-people PM Boris Johnson is set to as the Queen to suspend parliament for 5 weeks in an attempt to squeeze the time for opposition to the October 31st Brexit deadline, a move that’s prompting concerns about a...more
A survey of the country’s most powerful CEOs by the Business Roundtable shows an interesting shift in how they view their top priority—no longer does advancing the interests of shareholders take the top spot. Instead, the...more
Hong Kong-based Cathay Pacific Airways CEO Rupert Hogg has resigned in order to “take responsibility” a week “after the carrier was rebuked by China for staff involvement in the anti-Beijing protests rocking Hong Kong.” Hogg...more
A new report out Tuesday from the Food & Drug Administration reveals that drug maker Novartis “concealed manipulated data” from the agency “while applying for approval of an extremely expensive gene therapy treatment and then...more
HSBC chief John Flint is out just 18 months after he assumed the role as head of the London-based bank, likely due to clashes with Board Chair Mark Tucker and the lender’s focus on expanding in China. HSBC also announced it...more
The Fed delivered on its expected quarter-point rate cut yesterday, the first decrease in short term rates since 2008. Fed Chair Powell cited “the implications of global developments for the economic outlook as well as muted...more
At this point, pretty much everyone on Wall Street is expecting the Fed to cut interest rates as its FOMC meeting breaks later today. Some thoughts on what’s likely to happen and how the Street could react to the news....more
Much more on the suddenly hot topic of Big Tech antitrust oversight, including a negotiated agreement among regulators that will see the DOJ handling Apple and Google while the Federal Trade Commission will take on Facebook...more
Disney will take total control of the TV and movie streaming service Hulu after forking over at least $5.8 billion to buy out last remaining partner, Comcast. That price won’t be determined for a while, though, as the sale...more