Uber investor Benchmark (a Silicon Valley VC fund) is looking to recover for the lost-investment costs associated with the rocky 2017 at the ride-hailing company, and it has former CEO Travis Kalanick in its crosshairs....more
8/11/2017
/ Amazon Marketplace ,
Blue Apron ,
Dow Jones ,
Financial Crisis ,
Financial Markets ,
Housing Market ,
Initial Public Offering (IPO) ,
S&P ,
Uber ,
Wells Fargo ,
Whole Foods
Big news in the streaming world late yesterday, with Disney announcing that was acquiring a 75 percent stake in BamTech and would be pulling all of its content from Netflix in anticipation of launching its own streaming...more
8/9/2017
/ Amazon Marketplace ,
China ,
Disney ,
Financial Institutions ,
Ford Motor ,
Foreign Investment ,
Forex ,
Insurance Regulations ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Movies ,
Netflix ,
Wells Fargo
With all of Europe closely eyeing the ECB for hints about its move away from aggressive bond buying, some cities that have benefited disproportionately from the QE are being forced to consider what life on the other side will...more
7/21/2017
/ Amazon Marketplace ,
Banking Sector ,
Citigroup ,
Derivative Suit ,
EU ,
European Central Bank ,
Fannie Mae ,
Freddie Mac ,
Google Glass ,
Jeff Bezos ,
Libor ,
Recessions ,
Rental Property ,
Sears
The CFPB made waves yesterday by adopting a rule that would prohibit financial firms from forcing customers to arbitrate their disputes over bank and credit card accounts (and by allowing class actions on those same issues)....more
7/11/2017
/ Abercrombie & Fitch ,
Administrative Appointments ,
Amazon Marketplace ,
Arbitration ,
Arbitration Agreements ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
E-Commerce ,
Energy Sector ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Job Creation
Tesla’s rise to the top of the US car heap in terms of market value raised a lot of eyebrows a few months ago. GM bumped it back down yesterday, but its three months as #1 marked what felt like a serious shift in the auto...more
7/10/2017
/ Amazon Marketplace ,
Automotive Industry ,
Berkshire Hathaway ,
Class Action ,
Cyber Attacks ,
Data Breach ,
Department of Labor (DOL) ,
Dish Network ,
Elon Musk ,
Financial Institutions ,
Food Supply ,
Grocery Stores ,
Hackers ,
Internet of Things ,
Job Creation ,
QVC ,
Technology Sector ,
Tesla
A banner round of stress-testing for the US’s biggest banks (all passed for the first time in the test’s 7-year history) is seen as paving the way for banks to pay out their largest dividends in nearly a decade....more
6/29/2017
/ Amazon Marketplace ,
Asset Management ,
Banking Sector ,
Blue Apron ,
Business Valuations ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Initial Public Offering (IPO) ,
Morgan Stanley ,
Nike ,
Retailers ,
Rite Aid ,
Silicon Valley ,
Staples ,
Startups ,
Stress Tests ,
UK ,
UK Brexit ,
Walgreens
Barclays and a group of its former execs are facing charges of fraud by false representation by Britain’s Serious Fraud Office over deals they struck with Qatar in 2008 to avoid a government bailout....more
6/20/2017
/ Amazon Marketplace ,
Banking Sector ,
Barclays ,
Best Interest Contract Exemptions ,
Bitcoin ,
Blue Apron ,
Brick-and-Mortar Stores ,
Cryptocurrency ,
Disgorgement ,
Fiduciary Rule ,
Fraud ,
Gaming ,
Grocery Stores ,
Hiring & Firing ,
Initial Public Offering (IPO) ,
Investment Management ,
Jaguar ,
Misrepresentation ,
On-Demand Services ,
Pharmaceutical Industry ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
Subscription Services ,
Valeant ,
Virtual Currency ,
Whole Foods
Here we were watching Amazon for a Slack pick-up, and all the while it had its eyes set on Whole Foods. Jeff Bezos added the upscale grocery giant to Amazon’s expanding portfolio for $13.7 billion on Friday (perhaps kicking...more
6/19/2017
/ Activist Investors ,
Agency Consolidation ,
Amazon Marketplace ,
Automotive Loans ,
Cable Television Providers ,
Class Action ,
Fashion Industry ,
FSOC ,
General Electric ,
Grocery Stores ,
Omnicare v Laborers District Council ,
Pension Funds ,
Regulatory Agencies ,
Regulatory Reform ,
Retailers ,
Securities Violations ,
Wal-Mart ,
Whole Foods
Because we haven’t spilled enough ink on GE this week, Dealbook’s Common Sense column asks if GE’s decline (at least from a stock performance perspective) wasn’t so much Jeff Immelt’s doing as it was Jack Welch’s....more
6/16/2017
/ Amazon Marketplace ,
Anbang ,
Bitcoin ,
Capital Requirements ,
CFTC ,
Department of Justice (DOJ) ,
Disgorgement ,
Dow Chemical ,
DuPont ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
General Electric ,
Kokesh v SEC ,
Money Laundering ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
With oil markets again in free fall, Saudi Arabia and Russia have agreed to cut production, and industry experts expect that the rest of OPEC may soon follow suit....more
5/16/2017
/ Amazon Marketplace ,
Automotive Industry ,
Brazil ,
CMBS ,
Cybersecurity ,
Discriminatory Lending Practices ,
Exploration and Production Assets ,
Financial Institutions ,
FinTech ,
Ford Motor ,
Global Workforce ,
Goldman Sachs ,
Hackers ,
Hiring & Firing ,
Oil & Gas ,
Publishers ,
Ransomware ,
Russia ,
Saudi Arabia ,
Securities and Exchange Commission (SEC) ,
Wells Fargo
We’ve mentioned Uber’s Greyball issues before in passing. But since the authorities are literally making a Federal case out of it, you should probably know more about the details if the software tool that has the...more
5/5/2017
/ Amazon Marketplace ,
Apple ,
Best Interest Contract Exemptions ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
EU ,
Fiduciary Rule ,
Financial Institutions ,
Financial Services Committee ,
Jeff Bezos ,
Job Creation ,
Manufacturers ,
Proposed Legislation ,
Sharing Economy ,
Uber ,
UK Brexit ,
Volcker Rule
We know that China’s Didi Chuxing is powerful enough to have driven Uber out of China altogether. So what happens when Didi sets its sights outside of Chinese borders? Flush with $5.5 billion in new funding, Didi is likely...more
5/1/2017
/ Amazon Marketplace ,
Bangladesh ,
Bank of America ,
Banking Sector ,
Canada ,
China ,
Cybersecurity ,
Financial Institutions ,
Forex ,
Grocery Stores ,
Housing Market ,
Interest Rate Adjustments ,
JPMorgan Chase ,
Market Manipulation ,
Mortgage Lenders ,
Mortgages ,
Retail Market ,
SWIFT ,
Uber
Now that NAFTA seems to have an at-least-momentary reprieve, let’s take a breath and take a look at the four major industries that would be affected by any big changes in the deal....more
4/28/2017
/ Amazon Marketplace ,
Barclays ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Deloitte ,
Earnings Reports ,
ETFs ,
Fannie Mae ,
Financial Institutions ,
Financial Markets ,
Google ,
Hedge Funds ,
Internet Lenders ,
Microsoft ,
NAFTA ,
Online Marketplace Lending ,
Private Equity Firms ,
Securities Violations ,
Tribal Loans ,
Uber ,
US Trade Policies ,
Whistleblowers
The feud between Big Billy Gross and his former firm, Pimco, over BBG’s 2014 ouster is officially finished. The terms weren’t officially disclosed, but both sides noted that “any proceeds from the suit will be donated to...more
3/28/2017
/ Amazon Marketplace ,
Financial Institutions ,
Foreign Investment ,
Oil & Gas ,
Publicly-Traded Companies ,
Retail Market ,
Saudi Arabia ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Sharing Economy ,
SoftBank ,
Uber ,
Valeant ,
White Collar Crimes
News emerged in past weeks that North Korean hackers were likely behind the theft of $81 million from the central bank of Bangladesh. You can add to that an attack on more than 20 Polish banks and an attempt at other...more
3/27/2017
/ Airlines ,
Amazon Marketplace ,
American Airlines ,
Antitrust Violations ,
Asset Management ,
Aviation Industry ,
Banking Sector ,
Barclays ,
Class Action ,
Cyber Crimes ,
EFTs ,
Exploration and Production Assets ,
Financial Markets ,
Foreign Currency ,
Hackers ,
Investment ,
JPMorgan Chase ,
North Korea ,
Oil & Gas ,
OPEC ,
Pensions ,
Price-Fixing ,
Risk Management ,
State Street
Former AIG chief Hank Greenberg and his co-defendant, AIG’s former CFO, reached an “unexpected” settlement last week with NY officials. The duo will fork over about $10 million in bonuses payments and admit that they...more
2/13/2017
/ AIG ,
Amazon Marketplace ,
Artificial Intelligence ,
Automotive Industry ,
Bear Sterns ,
Capital Raising ,
Credit Ratings ,
Denmark ,
Feeder Funds ,
Financial Institutions ,
Financial Markets ,
Ford Motor ,
Fraud ,
Hedge Funds ,
Initial Public Offering (IPO) ,
Insurance Industry ,
Rating Agencies ,
Snapchat ,
Social Networks ,
Tax Code ,
Technology
The emissions cheating scandal that recently cost VW $4.3 billion and a mess of criminal indictments isn’t, it seems, confined to the Germans. We heard months ago about a similar probe into Mitsubishi, and yesterday we...more
1/13/2017
/ Amazon Marketplace ,
Automotive Industry ,
Broker-Dealer ,
Carbon Emissions ,
Citigroup ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Department of Labor (DOL) ,
Environmental Protection Agency (EPA) ,
Environmental Violations ,
Exchange-Traded Products ,
Federal Reserve ,
Fiat ,
Fiduciary Rule ,
Financial Institutions ,
Financial Markets ,
Forex ,
Interest Rate Adjustments ,
Job Creation ,
Market Manipulation ,
Mitsubishi ,
Money Market Funds ,
Mutual Funds ,
National Emissions Standards ,
No-Action Letters ,
Retail Market ,
Robots ,
Sales Commissions ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Software ,
Volkswagen ,
White Collar Crimes
The headline a few days ago was the arrest of VW exec Oliver Schmidt during an ill-advised trip to Miami last week. But the DOJ also indicted five other top executives over their role in VW’s emissions cheating scandal. No...more
1/12/2017
/ Amazon Marketplace ,
Automotive Industry ,
Carbon Emissions ,
Credit Cards ,
Credit Suisse ,
Criminal Prosecution ,
Financial Institutions ,
Financial Markets ,
Foreign Currency ,
Mexico ,
Morgan Stanley ,
Mutual Funds ,
National Emissions Standards ,
RMBS ,
Securities and Exchange Commission (SEC) ,
Volkswagen ,
White Collar Crimes
By volume, December wasn’t an incredible month for US jobs. But the report did help cap a year that saw average hourly earnings rise 2.9%—the best since 2009 and a “turning point for the overall economy,” according to one...more
1/9/2017
/ Amazon Marketplace ,
Apple ,
Automotive Industry ,
Big Data ,
Bond Markets ,
China ,
Corporate Bonds ,
Criminal Prosecution ,
Cybersecurity ,
Cybersecurity Framework ,
Economic Development ,
Environmental Violations ,
Facebook ,
FBI ,
Federal Register ,
Financial Institutions ,
Germany ,
Google ,
Insurance Industry ,
Job Creation ,
Liquidity ,
Microsoft ,
National Emissions Standards ,
NYDFS ,
Regulatory Oversight ,
Volkswagen ,
White Collar Crimes
As anticipated, the Fed raised its benchmark interest yesterday (for only the second time since the 2008 financial crisis) to somewhere between .5 and .75 percent and, perhaps more critically, revealed its expectation for...more
12/15/2016
/ Amazon Marketplace ,
Automotive Loans ,
Consumer Lenders ,
Credit Cards ,
Data Breach ,
Deutsche Bank ,
Exxon Mobil ,
FHFA ,
Financial Institutions ,
Goldman Sachs ,
Interest Rate Adjustments ,
Kraft ,
Mergers ,
Morgan Stanley ,
Personally Identifiable Information ,
RMBS ,
Verizon ,
Yahoo!
Blackstone is spinning off a new housing maintenance and rental venture in the form of Invitation Homes LP, which could see an IPO as early as January 2017. Invitation Homes is the culmination of a four-year, $10 billion...more
12/6/2016
/ Amazon Marketplace ,
Anti-Money Laundering ,
Banks ,
Bitcoin ,
Citigroup ,
Credit Suisse ,
Digital Currency ,
False Claims Act (FCA) ,
Financial Crisis ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinTech ,
Foreclosure ,
Hedge Funds ,
Housing Market ,
Initial Public Offering (IPO) ,
Securities Violations ,
Tax Fraud ,
Virtual Currency ,
White Collar Crimes
The Financial Stability Board—that Swiss-based grand collection of central bankers and regulators from the world’s biggest economies—has upped the systemic importance ranking for three of America’s biggest banks, including...more
11/22/2016
/ Ally Financial Inc ,
Amazon Marketplace ,
Bank of America ,
Banks ,
Brokers ,
Citigroup ,
Corporate Taxes ,
Department of Labor (DOL) ,
Employee Benefits ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Institutions ,
FSB ,
Investment Adviser ,
Kickbacks ,
Retirement Plan ,
Tax Cuts ,
Trump Administration ,
Valeant ,
Wells Fargo
SEC chief Mary Jo White has announced that she’ll be stepping down in early 2017—an expected move that nevertheless drives home the reality of the big changes ahead for the securities industry (and many others)....more
11/15/2016
/ Amazon Marketplace ,
Apple ,
Bonds ,
Facebook ,
Fannie Mae ,
Financial Institutions ,
Financial Markets ,
GAO ,
Google ,
Hedge Funds ,
Housing Market ,
Mortgages ,
Securities ,
Securities and Exchange Commission (SEC) ,
Stocks ,
Stress Tests ,
Technology Sector ,
Whistleblower Awards ,
Whistleblowers
In a “highly anticipated” ruling from the US Court of Appeals for the DC Circuit, a three-judge panel has found the structure of the Consumer Financial Protection Bureau unconstitutional, holding that the current organization...more
10/12/2016
/ Abandoned Property ,
Administrative Proceedings ,
Amazon Marketplace ,
Article II ,
Bank Accounts ,
Banking Sector ,
Blockchain ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Due Process ,
Financial Markets ,
HUD ,
Insurance Industry ,
Kickbacks ,
Morgan Stanley ,
Mortgage Insurance ,
Mortgages ,
PHH Corp. v CFPB ,
Referral Fees ,
Reinsurance ,
Removal For-Cause ,
RESPA ,
RMBS ,
Samsung ,
Single Director ,
Smartphones ,
Statute of Limitations ,
Statutory Interpretation ,
Technology Sector ,
Vacant Properties ,
Virtual Currency
Canada’s signaled an interest in joining the China-led Asian Infrastructure Investment Bank—often seen as China’s answer to the World Bank. The bid is controversial at home for new PM Justin Trudeau, but it reflects the...more
9/1/2016
/ Amazon Marketplace ,
Canada ,
China ,
Commerzbank ,
Deutsche Bank ,
Elon Musk ,
Financial Crisis ,
Financial Institutions ,
Financial Reporting ,
Lehman Brothers ,
Mergers ,
Puerto Rico ,
Student Loans ,
Tesla ,
UK ,
Wells Fargo