Notwithstanding Lloyd’s assurances that the rumors of his demise are premature, Goldman has cleared the path forward for David Solomon (aka, one of its current co-Presidents, aka, DJ D-Sol) to assume the CEO position when Mr....more
3/13/2018
/ Alibaba ,
Anti-Money Laundering ,
Antitrust Litigation ,
Antitrust Violations ,
Apple ,
Bank of America ,
Bank Secrecy Act ,
Bear Sterns ,
Bitcoin ,
Broadcom ,
BSA/AML ,
CFIUS ,
China ,
Class Action ,
Digital Currency ,
Digital Media ,
Enforcement Actions ,
Forex ,
Hilton ,
Initial Coin Offering (ICOs) ,
JPMorgan Chase ,
Know Your Customers ,
Leveraged Loans ,
Qualcomm ,
Securities and Exchange Commission (SEC) ,
Timeshare ,
Token Sales ,
U.S. Treasury ,
Virtual Currency
As we hold our breaths at the opening bell to see if last week’s volatility continues, we consider the impact of computer-driven index funds on that market rollercoaster....more
2/12/2018
/ Alphabet Company ,
Amazon Marketplace ,
Apple ,
Bank of Tokyo Mitsubishi ,
Broadcom ,
Cisco ,
Corporate Taxes ,
Cyber Insurance ,
Data Breach ,
Dow Jones ,
Driverless Cars ,
Equifax ,
Financial Markets ,
Grocery Stores ,
Insurance Industry ,
Inversion ,
Libor ,
Olympics ,
Qualcomm ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Trade Secrets ,
Uber ,
Wells Fargo ,
Whole Foods
Even as JPMorgan has set the playing field for his successor (Daniel Pinto v. Gordon Smith, FYI), head honcho Jamie Dimon is making it clear that he’s not about to go anywhere anytime soon....more
1/31/2018
/ Advertising ,
Amazon Marketplace ,
Apple ,
Berkshire Hathaway ,
Bitcoin ,
BlackRock ,
Capital Raising ,
Class Action ,
Class Certification ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Digital Currency ,
Dow Jones ,
Elon Musk ,
Facebook ,
Financial Crisis ,
Initial Coin Offering (ICOs) ,
iPhone ,
JPMorgan Chase ,
Kodak ,
RMBS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Social Media ,
Software ,
Tesla ,
Virtual Currency ,
Wall Street ,
Xerox
EU regulatory officials have fined chipmaker Qualcomm $1.2 billion after a 2-year investigation into anti-competition allegations involving payments made to Apple....more
1/24/2018
/ Apple ,
Elon Musk ,
Energy Sector ,
EU ,
Fintech Charter ,
France ,
Kimberly-Clark ,
President Macron ,
Qualcomm ,
Renewable Energy ,
Solar Energy ,
Solar Panels ,
Tariffs ,
Tesla ,
Trump Administration ,
Twitter
NYSE owner Intercontinental Exchange is looking to do the as-yet inconceivable: bring some order to cryptocurrencies. The plan, announced yesterday, is to launch a data feed that pull info from cryptocurrency exchanges around...more
1/19/2018
/ Administrative Appointments ,
Amazon Marketplace ,
Anti-Money Laundering ,
Apple ,
Bitcoin ,
Cryptocurrency ,
Currency Exchange ,
Cybersecurity ,
Department of Justice (DOJ) ,
Digital Currency ,
Financial Markets ,
HSBC ,
Initial Coin Offering (ICOs) ,
IOSCO ,
IRS ,
NYSE ,
OCC ,
Offshore Funds ,
Presidential Appointments ,
Regulatory Oversight ,
Repatriation ,
Technology Sector ,
Virtual Currency
The Dow closed above 26k yesterday for the first time on what some are dubbing the FOMO rally or the “melt-up” market....more
1/18/2018
/ Apple ,
Artificial Intelligence ,
Blockchain ,
Broadcom ,
Citibank ,
Consumer Financial Protection Bureau (CFPB) ,
Dow Jones ,
Federal Trade Commission (FTC) ,
Financial Markets ,
General Electric ,
Google ,
HSBC ,
IRS ,
Libor ,
Mortgages ,
Offshore Funds ,
Payday Loans ,
Repatriation ,
RMBS ,
Technology Sector
China has put the kibosh on micro-lending, a move that has cut short not just the consumer loans themselves but the giant asset-backed securities market—a $37 billion industry in China last year alone. The new curbs have had...more
1/9/2018
/ Apple ,
Asset-Backed Securities ,
Banks ,
China ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Inflation Adjustments ,
Lending ,
Libor ,
Restaurant Industry ,
Stocks ,
Switzerland ,
Technology Sector ,
Toyota ,
UK
Bitcoin futures started trading yesterday for the first time prompting concerns about the volatility of the cryptocurrency that prompted several exchange outages due to 10%+ swings in its price as well as heavy website...more
12/11/2017
/ Apple ,
Bitcoin ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Financial Markets ,
General Electric ,
Hospital Mergers ,
Job Creation ,
Libor ,
Mobile Apps ,
Pharmaceutical Industry ,
Stock Prices ,
Technology Sector ,
Trading Platforms ,
UK Brexit ,
Virtual Currency ,
Wells Fargo
Breakingviews on Broadcom’s threat to Qualcomm’s board in the form of a slate of 11 director nominees for the company it has, so far, unsuccessfully attempted to purchase....more
12/5/2017
/ Aetna ,
Apple ,
Back Taxes ,
Bitcoin ,
Broadcom ,
COPPA ,
Cryptocurrency ,
CVS ,
Deutsche Bank ,
Dollar General ,
Enforcement Actions ,
Facebook ,
Hartford Insurance Company ,
Initial Coin Offering (ICOs) ,
Insurance Industry ,
Life Insurance ,
Mobile Apps ,
Pharmacies ,
Qualcomm ,
Richard Cordray ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Social Networks
Big news out of Uber this weekend, where the company and its board resolved outstanding issues with Travis Kalanick in order to finalize a deal in which a SoftBank-led consortium of investors will buy up about $1 billion of...more
11/13/2017
/ Alibaba ,
Apple ,
Banking Sector ,
Bitcoin ,
Children's Toys ,
China ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Digital Currency ,
Disclosure Requirements ,
E-Commerce ,
Financial Markets ,
Foreign Ownership ,
Hasbro ,
Internet Retailers ,
Mattel ,
Publicly-Traded Companies ,
Ridesharing ,
Securities and Exchange Commission (SEC) ,
Sharing Economy ,
SoftBank ,
Stocks ,
Uber ,
Virtual Currency ,
Whistleblowers ,
Wireless Technology
AT&T’s chief is weighing in the DOJ’s call to sell CNN in order to make its deal with Time Warner go through, and, as Randall sees it, “selling CNN makes no sense”....more
11/10/2017
/ Alibaba ,
Antitrust Provisions ,
Apple ,
AT&T ,
Bernie Madoff ,
Cable Television Providers ,
CNN ,
Corporate Culture ,
Corporate Governance ,
Department of Justice (DOJ) ,
E-Commerce ,
Equifax ,
Financial Markets ,
Hackers ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Insurance Industry ,
Internet Retailers ,
Investment Firms ,
Ponzi Scheme ,
Qualcomm ,
Ridesharing ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Sharing Economy ,
Snapchat ,
Social Media ,
Stock Prices ,
Telecommunications ,
Time Warner ,
Token Sales ,
Traditional News ,
Uber ,
Victim Compensation Fund
Snap’s awful Q3 be damned—Chinese tech giant Tencent has increased its stake in the company to more than 12% thanks to shares it purchased on the open market....more
11/9/2017
/ Alibaba ,
Apple ,
AT&T ,
Bitcoin ,
Digital Currency ,
E-Commerce ,
Internet Retailers ,
JPMorgan Chase ,
Panera ,
Retailers ,
Snapchat ,
Social Media ,
Technology ,
Time Warner ,
Virtual Currency ,
Wireless Industry
Facebook may have had a difficult day on the Hill. But a 79% rise in Q3 profit—driven, ironically enough, by online ads—should help soften the blow....more
11/2/2017
/ Administrative Appointments ,
Amazon Marketplace ,
Apple ,
Arbitration ,
Automotive Loans ,
Banking Sector ,
Board of Directors ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Lenders ,
Digital Currency ,
Facebook ,
Federal Reserve ,
Financial Services Industry ,
FOMC ,
Google ,
Initial Coin Offering (ICOs) ,
Interest Rate Adjustments ,
Microsoft ,
Quarterly Report ,
Securities and Exchange Commission (SEC) ,
Sharing Economy ,
Social Media ,
SoftBank ,
Subprime Loans ,
Token Sales ,
Trump Administration ,
Uber ,
Unregistered Securities ,
Virtual Currency
The Peltz/P&G drama continues, with the company suggesting that Trian has lost its bid for a Board seat and the fund arguing that it disagrees with the company’s counting of the ballots....more
10/11/2017
/ AFL-CIO ,
Apple ,
Banking Sector ,
Board of Directors ,
Commercial Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
Debt Market ,
Dow Jones ,
Driver's Licenses ,
Equifax ,
Financial Markets ,
Forex ,
GlaxoSmithKline ,
Google ,
Honeywell International ,
HSBC ,
Information Sharing ,
Insider Trading ,
Moody's ,
Navient ,
Personally Identifiable Information ,
Pfizer ,
Pharmaceutical Industry ,
Procter & Gamble ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Shareholder Votes ,
Spinoffs ,
Stocks
In an apparent effort to appease dissatisfied activist investors, chemicals giant DowDuPont has announced plans to change its breakup plan with an reorganizational structure that focuses on three “distinct businesses: an...more
9/14/2017
/ Apple ,
Bitcoin ,
Class Action ,
Consumer Financial Products ,
Corporate Restructuring ,
Digital Currency ,
Dow Chemical ,
DuPont ,
Interest Rates ,
Mortgages ,
Toshiba ,
UK ,
UK Competition and Markets Authority (CMA) ,
Wachovia ,
Wells Fargo
Wells Fargo has reportedly uncovered another trove of unauthorized accounts, according to a regulatory filing on Friday. The bank also disclosed a CFPB investigation over potential harm to customers over its practice of...more
8/7/2017
/ Apple ,
Arbitration ,
Bitcoin ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Protection Bureau (CFPB) ,
Cross-Selling ,
Cryptocurrency ,
Diversity ,
Financial Institutions ,
Financial Markets ,
Gender Equity ,
Google ,
Information Technology ,
Job Creation ,
Navient ,
Nike ,
Regulatory Agenda ,
Student Loans ,
Technology Sector ,
Unemployment ,
Virtual Currency ,
Wall Street ,
Wells Fargo
Hoping to reverse recent years of struggles, J. Crew is bidding farewell to CEO Mickey Drexler (though he’ll stay on as chairman) in favor of West Elm’s James Brett....more
6/6/2017
/ Apple ,
Clawbacks ,
Connected Items ,
Dish Network ,
Executive Compensation ,
Fashion Industry ,
Financial Institutions ,
Forex ,
Insider Trading ,
J Crew ,
National Emissions Standards ,
Securities and Exchange Commission (SEC) ,
TCPA ,
Volkswagen ,
White Collar Crimes
The Times gives us some insight into the opaque (but powerful) HNA Group—the Chinese entity that began with Hainan Airlines and has grown into a global investing and acquisition powerhouse that is now the largest shareholder...more
5/10/2017
/ Activist Investors ,
AIG ,
Apple ,
Bailout ,
Banking Sector ,
Bitcoin ,
Dodd-Frank ,
Donald Trump ,
Insider Trading ,
Insurance Industry ,
Liquidity Coverage Ratio ,
Market Manipulation ,
Proposed Legislation ,
Stock Markets ,
Virtual Currency
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
Italy’s Alitalia has filed for bankruptcy yet again, the third filing in less than a decade, and it’s home country looks far less likely to bail out the troubled carrier this time around....more
5/3/2017
/ Air Carriers ,
Apple ,
Automotive Industry ,
Aviation Industry ,
Banking Sector ,
CFTC ,
Commercial Bankruptcy ,
Deutsche Bank ,
iPhone ,
Italy ,
Majority Shareholders ,
Manufacturers ,
Securities and Exchange Commission (SEC) ,
Smartphones ,
Trading Platforms
Eddie Lampert’s Sears mega-gamble appears to finally be catching up with him. Or the store, at least. Mr. Lampert, it seems, will come out not as worse for the wear as one might have expected....more
3/23/2017
/ Apple ,
Banking Sector ,
Dakota Access Pipeline ,
Deutsche Bank ,
Iran Sanctions ,
Loans ,
Mobile Apps ,
Native American Issues ,
Oil & Gas ,
Personal Data ,
Retail Market ,
Sears ,
Takeover Bids ,
Technology ,
Tribal Lands ,
Water Supplies ,
ZTE
We’ve talked a fair amount about the switch to chip & pin card systems over the past few years. But how about a lack of cards altogether? Because that’s what the banks have in mind....more
2/14/2017
/ Aetna ,
Apple ,
Banking Sector ,
Chip and PIN ,
Credit Cards ,
Data Breach ,
Debit Cards ,
Financial Institutions ,
Fraud ,
Health Insurance ,
Humana ,
Insurance Industry ,
Internet Retailers ,
iPhone ,
Merger Agreements ,
Oil & Gas ,
OPEC ,
Point of Sale Terminals ,
Retail Market ,
Retailers ,
Saudi Arabia ,
Smartphones ,
Technology Sector ,
Wendy's
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
The Fed’s anticipating faster growth in the coming year and rate increases to go with it. That and a whole lot of uncertainty about the incoming administration are the big takeaways from the Fed’s December meeting minutes....more
1/5/2017
/ Amazon ,
Apple ,
Deutsche Bank ,
Facebook ,
Financial Institutions ,
Financial Markets ,
Foreign Exchanges ,
Forex ,
Google ,
Hedge Funds ,
Initial Public Offering (IPO) ,
Market Manipulation ,
Microsoft ,
Mortgages ,
Private Equity ,
Securities and Exchange Commission (SEC) ,
Technology Sector
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