Top Five Corporate Scandals of 2018: Episode V-Nissan and Carlos Ghosn
After more than half a year without a leader, the WTO is poised to welcome its “first woman and first African” to the role in the form of Nigerian economist and former finance minister Dr. Ngozi Okonjo-Iweala. ...more
Rising infection rates around the U.S. and the globe are worrying markets, as fear of a second wave of cases linked with the reopening of the economy freaks out traders....more
UK regulators are probing ties between disgraced financier Jeffrey Epstein and Barclays CEO Jes Staley. The bank’s board is so far standing 100% with Staley, who has expressed “regret” over his relationship with Epstein....more
Big-Tech/Antitrust Update: the FTC has demanded information from Amazon.com Inc., Apple Inc., Facebook Inc., Microsoft Corp., and Alphabet Inc. regarding acquisitions of small firms over the past 10 years that may have been...more
Talks between General Motors and the striking UAW broke down yesterday, threatening the progress the two sides “appeared to make in recent days,” a troubling sign as the strike heads into its 4th week....more
Paul Singer’s Elliott Management hedge fund revealed a $3.2 billion stake in AT&T and, along with it, a healthy-skepticism of the company’s 2018 purchase of Time Warner and general calls to divest as part of a 24-page letter...more
Facebook and the FTC have agreed to terms on a settlement addressing the social network’s privacy violations in recent years. Along with the previously reported $5 billion fine, the deal will require Facebook to “add new...more
Ford announced major cuts to its European workforce yesterday, announcing that it would reduce its overall headcount there by 1/5 (or about 12,000 workers), roughly half of whom are salaried employees. Ford first revealed the...more
Facebook revealed on Wednesday that it’s expecting a one-time $3 to 5 billion FTC fine over privacy violations, an amount that would be a “record penalty for a technology company by the agency.” In preparation, Zuck & co....more
Not shockingly, the White House’s recent insistence on keeping tariffs in place on China (to ensure deal compliance) is proving to be a major stumbling block in negotiations on a grand trade deal between the US and China....more
USA Today publisher and media conglomerate Gannett has rejected a $1.3 billion hostile takeover bid from Alden Global Capital-backed MNG Enterprises, “kicking off a battle for shareholder votes to determine the future of the...more
Nissan’s Carlos Ghosn problems now extend to the United States, where the Securities and Exchange Commission has opened a probe into the accuracy of the company’s financial disclosures and internal controls....more
Three weeks after his initial arrest, Japanese prosecutors have officially indicted former Nissan Chair Carlos Ghosn for understating his income by $43 million....more
Nissan Board Chair Carlos Ghosn is on the verge of being ousted at the Japanese automaker after an internal investigation found that he had “underreported his compensation to the financial authorities for several years.”...more