Well, see, Yahoo just doesn’t have enough on its plate these days. So why not the revelation that hackers stole data on 500 million users in 2014? The hack—thought to be a state-sponsored affair—is likely the biggest data...more
9/23/2016
/ Anbang ,
Apple ,
Bank Accounts ,
Banking Sector ,
Banks ,
Corporate Culture ,
Cross-Selling ,
Cyber Attacks ,
Data Breach ,
Department of Justice (DOJ) ,
Financial Markets ,
Hackers ,
Initial Public Offering (IPO) ,
Insider Trading ,
Marriott ,
Search Engines ,
Securities and Exchange Commission (SEC) ,
Tesla ,
Tone At The Top ,
Wall Street ,
Wells Fargo ,
Yahoo!
Testifying before the Senate Banking Committee yesterday, Wells Fargo CEO John Stumpf admitted that the illegal sham-account-creation activity at the heart of its recent SEC fine may have begun earlier than first reported....more
9/21/2016
/ Antitrust Litigation ,
Apple ,
ATMs ,
Bank Accounts ,
Banking Sector ,
Banks ,
Barclays ,
Bitcoin ,
Department of Justice (DOJ) ,
Digital Currency ,
Exxon Mobil ,
Financial Institutions ,
Fraud ,
Interest Rate Adjustments ,
Interest Rates ,
Japan ,
JPMorgan Chase ,
Libor ,
Ponzi Scheme ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Senate Banking Committee ,
Tesla ,
Virtual Currency ,
Wells Fargo
The past 2 years have been just short of disastrous for most hedge funds. But even without much to show in the form of results, the world’s biggest fund manager—Bridgewater Associates—has attracted $22.5 billion in investor...more
9/12/2016
/ Acquisitions ,
Apple ,
Bitcoin ,
Blockchain ,
Digital Currency ,
Financial Crisis ,
Financial Institutions ,
Financial Markets ,
Hedge Funds ,
Investment ,
Ireland ,
REIT ,
Tax Evasion ,
Technology ,
Virtual Currency
In a move anticipated over the past year or so, Caliber Home Loans—with PE Lone Star Funds’ backing—is making more loans to “borrowers with spotty credit histories.” A euphemism for subprime, by the way. That targeting has...more
9/8/2016
/ Apple ,
Barclays ,
Class Action ,
Class Certification ,
Consumer Lenders ,
Cross-Selling ,
Cybersecurity ,
Dark Pool ,
EU ,
Financial Institutions ,
FinTech ,
Hackers ,
Interest Rates ,
iPhone ,
Misrepresentation ,
Mortgage Lenders ,
Mortgages ,
Real Estate Market ,
Shareholder Litigation ,
Shareholders ,
Subprime Loans ,
UK ,
Wells Fargo
Dealbook gives us the story of Airgas, where founder Peter McCausland’s reticence to sell (despite serious shareholder pressure) resulted in a $5 billion windfall rather than the all-too-often result of a later sale for...more
9/6/2016
/ 3D Printing ,
Apple ,
Barclays ,
Bayer ,
Bonds ,
EU ,
Financial Institutions ,
Financial Markets ,
Ireland ,
Job Creation ,
JPMorgan Chase ,
Mergers ,
Monsanto ,
NCUA ,
Pharmaceutical Industry ,
RMBS ,
Royal Bank of Scotland ,
Stock Prices ,
Stocks ,
Summary Judgment ,
Tax Evasion
Continual rejections worked for Hershey in fending off Mondelez’s takeover bid. The Deal Professor thinks that Tronc faces considerable risks in following the same strategy with Gannett’s repeated overtures....more
8/31/2016
/ Accounting Fraud ,
Acquisitions ,
Apple ,
Banks ,
EU ,
Financial Institutions ,
Financial Markets ,
Google ,
Hersheys ,
Initial Public Offering (IPO) ,
Mergers ,
Monsanto ,
Public Offerings ,
Securities and Exchange Commission (SEC) ,
Sharing Economy ,
Stock Exchange ,
Tax Evasion ,
Theranos ,
Uber ,
Whistleblowers ,
Zika
And after all the sturm und drang surrounding the Hershey Trust and the Mondelez buyout offer over these past few months . . . it’s over. Mondelez announced yesterday that it’s no longer seeking to acquire the Hershey...more
8/30/2016
/ Acquisitions ,
Apple ,
Automotive Industry ,
Barclays ,
Driverless Cars ,
EU ,
Fannie Mae ,
Financial Institutions ,
Financial Markets ,
Forex ,
Hersheys ,
Market Manipulation ,
Retailers ,
Sears ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Settlement Agreements ,
Tax Evasion ,
Uber ,
White Collar Crimes
The DOJ has asked the 2d Circuit to reconsider its May decision overturning the 2013 jury verdict (and subsequent $1.27 billion penalty) against Bank of America for fraud relating to its mortgage-generation HUSL program....more
8/5/2016
/ Apple ,
Bank of America ,
Bank of England ,
Bonds ,
Colombia ,
Department of Justice (DOJ) ,
Economic Development ,
Elon Musk ,
EU ,
European Central Bank ,
Financial Institutions ,
Goldman Sachs ,
Job Creation ,
Marijuana ,
Mortgage Fraud ,
Tesla
Yesterday, Hershey rejected Kraft spinoff Mondelez’s $23 billion takeover offer, but the dealmaking efforts may not be over. The success of any increased offer lies in the hands of the Hershey Trust Company, a charitable...more
7/1/2016
/ Apple ,
Bank of England ,
Banking Sector ,
Cable Television Providers ,
EU ,
Food Manufacturers ,
Foreclosure ,
Hersheys ,
Homeowners ,
HUD ,
Interest Rates ,
Kraft ,
Member State ,
Mergers ,
Mortgages ,
Music Streaming ,
Private Equity ,
Puerto Rico ,
Real Estate Market ,
Referendums ,
Takeover Bids ,
Technology Sector ,
UK ,
UK Brexit
Manhattan USA Preet Bharara’s back in front of the cameras and back on the insider-trading horse with the announcement yesterday of criminal charges against well-known sports bettor Billy Walters and former investment banker...more
5/20/2016
/ Apple ,
Banks ,
Bipartisan Agreement ,
Blockchain ,
Criminal Prosecution ,
Cyber Attacks ,
Financial Institutions ,
Form 10-Q ,
Gambling ,
General Mills ,
Hackers ,
Illegal Tipping ,
Insider Trading ,
Merger Agreements ,
Monsanto ,
Puerto Rico ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Sovereign Debt ,
Valeant ,
Venture Capital ,
Wells Fargo ,
Yahoo!
Gannet’s still after Tribune Publishing, and it’s upped its ante after Tribune “resoundingly rejected” early overtures – NYTimes...
The Journal walks us through the fall of the Laplanche empire at Lending Club with a...more
5/17/2016
/ Apple ,
Berkshire Hathaway ,
Financial Institutions ,
Lending Club ,
Merger Agreements ,
Merrill Lynch ,
Newspapers ,
Pfizer ,
Pharmaceutical Industry ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Stocks ,
Takeover Bids ,
Warren Buffett ,
Yahoo!
We learned yesterday of the effect that broken mergers are having on some hedge funds. Now comes news that, like many other institutional investors, large US insurance companies are yanking huge sums of money out of their...more
5/13/2016
/ Apple ,
Banks ,
Bayer ,
Charter ,
Chile ,
China ,
Connected Cars ,
Countrywide ,
CPUC ,
Cyber Attacks ,
Financial Institutions ,
Hedge Funds ,
Insurance Industry ,
Investment Portfolios ,
Merger Agreements ,
Mitsubishi ,
Monsanto ,
Nissan ,
NY Supreme Court ,
Private Equity ,
Qualified Settlement Funds ,
RMBS ,
Securities and Exchange Commission (SEC) ,
Sharing Economy ,
Time Warner
Apple’s gained some welcome federal precedent in its battle to resist unlocking its phones for the federal government, thanks to an EDNY drug case in which federal magistrate judge James Orenstein denied the government’s...more
3/1/2016
/ All Writs Act ,
Apple ,
Argentina ,
Banking Sector ,
China ,
Dodd-Frank ,
FinTech ,
Hedge Funds ,
IBM ,
Insider Trading ,
iPhone ,
Living Will ,
Securities and Exchange Commission (SEC)