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
8/7/2019
/ Asia Pacific ,
Chapter 11 ,
China ,
Currency Manipulation ,
Department of Justice (DOJ) ,
Disney ,
ESPN ,
Food and Drug Administration (FDA) ,
Genetic Materials ,
Global Economy ,
HUD ,
Hulu ,
Interest Rate Adjustments ,
MasterCard ,
Netflix ,
Novartis ,
Payment Processors ,
Pharmaceutical Industry ,
Retailers ,
RMBS ,
Trade Wars ,
U.S. Treasury ,
UBS
Last week’s wild economic ride combined with China’s currency-devaluing response (and, arguably, months more of trade-war-driven global uncertainty) led to the worst day on Wall Street since last December, with the Dow...more
8/6/2019
/ China ,
Commercial Bankruptcy ,
Criminal Investigations ,
Currency Manipulation ,
Data Breach ,
Department of Justice (DOJ) ,
Exports ,
Federal Reserve ,
Financial Transactions ,
Foreign Currency ,
Grand Juries ,
Imports ,
Marriott ,
Media ,
Money Services Business ,
Opioid ,
Pain Management ,
Publishers ,
Quarterly Report ,
Subpoenas ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trade Retaliation ,
Trade Wars ,
Trump Administration ,
Tyson Foods ,
US Trade Policies
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
8/5/2019
/ Administrative Appointments ,
Blockchain ,
Bonds ,
Cancer ,
CBS ,
China ,
Credit Default Swaps ,
Derivatives ,
Digital Currency ,
Economic Downturn ,
EU ,
Exports ,
Federal Reserve ,
Financial Markets ,
Financial Regulatory Reform ,
Foreign Currency ,
HSBC ,
IMF ,
Imports ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
Job Creation ,
Johnson & Johnson ,
Layoffs ,
Patent Applications ,
S&P ,
Talent Management ,
Tariffs ,
Toxic Exposure ,
Trade Wars ,
Trump Administration ,
Unemployment ,
Viacom ,
Wal-Mart ,
Wall Street ,
World Bank
Apparently hoping to urge China off of its new go-slow tactic, the White House is applying its maximum pressure campaign again, announcing yesterday that the US will “impose a 10 percent tariff on an additional $300 billion...more
8/2/2019
/ Antitrust Investigations ,
Aviation Industry ,
Bank of England ,
Barclays ,
Benchmarks ,
Boeing ,
Bondholders ,
China ,
Facebook ,
Federal Trade Commission (FTC) ,
Foreign Currency ,
General Electric ,
Hedge Funds ,
Interest Rates ,
Job Creation ,
Layoffs ,
Puerto Rico ,
Restructuring ,
Stock Markets ,
Tariffs ,
Trade Relations ,
Trade Retaliation ,
Trade Wars ,
Unemployment ,
US Trade Policies
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
8/1/2019
/ Aluminum Sales ,
Bank of England ,
China ,
Commercial Bankruptcy ,
Currency Fluctuation ,
Elon Musk ,
Energy Sector ,
Exports ,
Federal Reserve ,
Foreign Currency ,
Interest Rate Adjustments ,
Investment Fraud ,
Nordstrom Inc. ,
Prior Authorization ,
Retail Market ,
Share Price ,
Shareholder Litigation ,
SolarCity ,
Tariffs ,
Tesla ,
Trade Relations ,
Trade Wars ,
Trump Administration ,
UK Brexit ,
Unemployment ,
US Trade Policies ,
White Collar Crimes
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
7/31/2019
/ Apple ,
Capital One ,
China ,
Data Breach ,
Federal Reserve ,
House Flipping ,
Huawei ,
Interest Rate Adjustments ,
Natural Disasters ,
Real Estate Investments ,
Samsung ,
Technology Sector ,
Trade Relations ,
Trade Wars ,
Trump Administration ,
US Trade Policies ,
Vietnam
Financial giant Capital One, the fifth-largest credit card issuer in the U.S., announced on Monday that a hacker illegally accessed “the personal information of approximately 106 million card customers and applicants, one of...more
7/30/2019
/ Agribusiness ,
Amazon Marketplace ,
Background Checks ,
Boeing ,
Capital One ,
China ,
Citigroup ,
Cyber Attacks ,
Data Breach ,
Farms ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Planning ,
Grocery Stores ,
Investors' Exchange (IEX) ,
Layoffs ,
Ryanair ,
Tariffs ,
Trade Relations ,
Trade Wars ,
Trading Platforms ,
Uber ,
US Trade Policies ,
Whole Foods
Drug giants Pfizer and Mylan have inked a deal that will merge the former’s off-patent drugs with the latter’s generics business, a tie-up that creates a mammoth global seller of lower-priced medicines....more
7/29/2019
/ 3M Company ,
Airplane Accidents ,
Audi ,
Barclays ,
Boeing ,
China ,
Citibank ,
Cryptocurrency ,
Digital Currency ,
Federal Aviation Administration (FAA) ,
Federal Reserve ,
Financial Crisis ,
FOMC ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Subsidiaries ,
Forex ,
GDP ,
Generic Drugs ,
IRS ,
JPMorgan Chase ,
Mylan Pharmaceuticals ,
National Emissions Standards ,
Pfizer ,
Pharmaceutical Industry ,
Prescription Drugs ,
RBS ,
Regulatory Violations ,
Rental Property ,
Sprint ,
T-Mobile ,
Tax Liability ,
Tenants ,
UBS ,
Volkswagen ,
Wireless Industry
The announcement itself isn’t a shock, but given the potential players, it’s headline-worthy anyway: the DOJ announced yesterday that it’s officially opening an antitrust probe into Big Tech companies and “whether they had...more
7/24/2019
/ Amazon Marketplace ,
Antitrust Investigations ,
Antitrust Provisions ,
Antitrust Violations ,
Banks ,
Big Tech ,
Bonds ,
China ,
DaimlerChrysler ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Financial Transactions ,
Initial Public Offering (IPO) ,
Interest Rates ,
Living Will ,
Money Laundering ,
Sharing Economy ,
Snapchat ,
Sprint ,
T-Mobile ,
Tariffs ,
Telecommunications ,
Trade Relations ,
US Trade Policies
Credit bureau Equifax is closing in on an agreement with federal and state authorities in which it would pay $650-700 million to resolve claims related to the massive breach it revealed in September 2017 that exposed personal...more
7/22/2019
/ Brick-and-Mortar Stores ,
China ,
Commercial Leases ,
Data Breach ,
E-Commerce ,
Equifax ,
Federal Reserve ,
Financial Services Industry ,
FOMC ,
Foreign Investment ,
Google ,
Johnson & Johnson ,
Pharmaceutical Industry ,
Public Health ,
Real Estate Investments ,
Renault-Nissan ,
Rental Property ,
Settlement Agreements ,
Silicon Valley ,
Tariffs ,
Trade Relations ,
Trade Wars ,
Trump Administration ,
Uber
Netflix has been priming markets for bad news, and it delivered on Wednesday, reporting the loss of 126,000 paid U.S. subscribers in Q2—the company’s first domestic decrease since it started its streaming service 12 years...more
7/18/2019
/ Antitrust Violations ,
Bernie Madoff ,
China ,
Commercial Bankruptcy ,
Cryptocurrency ,
EU ,
Facebook ,
Huawei ,
Internet Streaming ,
Investment Fraud ,
Netflix ,
Qualcomm ,
Quarterly Report ,
Settlement Agreements ,
Tariffs ,
Trade Relations ,
Trade Wars ,
US Trade Policies
Treasury Secretary Steven Mnuchin is the latest prominent government official to express concerns about Facebook’s coming Libra launch. Speaking at a briefing yesterday, Mnuchin focused on national security issues related to...more
7/16/2019
/ Agribusiness ,
Agricultural Sector ,
Amazon Marketplace ,
Bayer ,
Broadcom ,
Cancer ,
Charles Schwab ,
China ,
Chipotle Grill ,
CMBS ,
Cryptocurrency ,
E-Commerce ,
Facebook ,
Farms ,
Fraud ,
Monsanto ,
National Security ,
RMBS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Senate Banking Committee ,
Subsidiaries ,
Symantec ,
Target ,
Tariffs ,
Toxic Exposure ,
Trade Wars ,
Trump Administration ,
USAA ,
Wal-Mart ,
Wealth Management
Late Friday, the Federal Trade Commission hit Facebook with a $5 billion fine for the social media company’s range of privacy violations over the past few years....more
7/15/2019
/ Aerospace ,
Airbus ,
Amazon Marketplace ,
Bank of America ,
Boeing ,
China ,
Commodities ,
Cryptocurrency ,
Debt Restructuring ,
Department of Labor (DOL) ,
Deregulation ,
Economic Downturn ,
Facebook ,
Federal Trade Commission (FTC) ,
Futures ,
Huawei ,
Initial Public Offering (IPO) ,
Labor Regulations ,
Layoffs ,
Merrill Lynch ,
Metals ,
Morgan Stanley ,
Puerto Rico ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Social Media ,
Spoofing ,
Telecommunications
Commerce Secretary Wilbur Ross announced yesterday that the US will, mere weeks after blacklisting Huawei altogether, allow some American companies to keep doing business with the Chinese telecom company. The reversal appears...more
7/10/2019
/ Administrative Resignation ,
Airbus ,
Aviation Industry ,
Boeing ,
China ,
Conspiracies ,
Federal Reserve ,
Hidden Fees ,
Hotels ,
Huawei ,
Investment Fraud ,
Marriott ,
Mexico ,
National Security ,
Prohibited Transactions ,
Stress Tests ,
Supply Chain ,
Telecommunications ,
Testimony ,
Trump Administration ,
U.S. Commerce Department ,
UK ,
UK Brexit
Lots more details on what turned out to be something of a bloodbath for Deutsche Bank employees around the world, with the bank starting to make good yesterday on its plans to cut nearly 18,000 employees worldwide – NYTimes...more
7/9/2019
/ Acquisitions ,
China ,
Congressional Investigations & Hearings ,
Cryptocurrency ,
Debt ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Enforcement Actions ,
Facebook ,
Federal Reserve ,
Global Economy ,
Innovative Technology ,
Investment Funds ,
Layoffs ,
Securities and Exchange Commission (SEC) ,
Software ,
UK ,
Volkswagen
Big Euro (and global) financial news emerging on Tuesday, as European officials rather surprisingly nominated current IMF chief Christine Lagarde to succeed Mario Draghi as European Central Bank president....more
7/3/2019
/ Anti-Competitive ,
Aviation Industry ,
Bank of America ,
Benchmarks ,
China ,
Electric Vehicles ,
EU ,
European Central Bank ,
Federal Reserve ,
Foreign Relations ,
Government Aid ,
Hedge Funds ,
Initial Public Offering (IPO) ,
Lloyds Banking Group ,
Prison ,
Quarterly Report ,
Rabobank ,
Saudi Arabia ,
Tariffs ,
Tesla ,
Trump Administration ,
US Trade Policies
OPEC nations met yesterday and agreed to continue their production cutting goals into 2020 in an effort to, according to the experts, “prop[] up prices while demand for oil is weakening”....more
7/2/2019
/ Apple ,
Beer ,
Beverage Manufacturers ,
Capital Requirements ,
Chapter 11 ,
China ,
Commercial Bankruptcy ,
Deutsche Bank ,
ETFs ,
EURIBOR ,
Exploration and Production Assets ,
Facebook ,
Federal Reserve ,
FinTech ,
Initial Public Offering (IPO) ,
Mark Zuckerberg ,
Nasdaq ,
Oil & Gas ,
OPEC ,
Regulation A ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
Startups ,
Tariffs ,
Trade Wars ,
UK ,
US Trade Policies
The US and China agreed to resume trade talks after a 7-week hiatus, “averting for now an escalation of their multibillion-dollar tariff war that has roiled global markets and threatened the future of the world’s two largest...more
7/1/2019
/ Arbitration Agreements ,
Boeing ,
China ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Deportation ,
Deutsche Bank ,
Exports ,
Franchisee ,
Hospitality Industry ,
Immigration and Customs Enforcement (ICE) ,
Immigration Reform ,
Imports ,
Internships ,
Martin Shkreli ,
Non-Compete Agreements ,
Non-Disclosure Agreement ,
Pharmaceutical Industry ,
Semiconductors ,
Subway ,
Supply Chain ,
Tariffs ,
Theranos ,
Trade Relations ,
Trade Retaliation ,
Trade Wars ,
Trump Administration ,
Undocumented Immigrants ,
US Trade Policies ,
YouTube
The DOJ has jumped on board claims made in existing civil class-action lawsuits and is considering criminal price-fixing charges against “some of the biggest American poultry companies, including Tyson Foods and Pilgrim’s...more
6/27/2019
/ Activist Investors ,
Antitrust Violations ,
Bitcoin ,
China ,
Cryptocurrency ,
Data Breach ,
Data-Sharing ,
Department of Justice (DOJ) ,
Electronic Medical Records ,
Facebook ,
Food Supply ,
G20 ,
Google ,
Imports ,
Oil & Gas ,
Patient Privacy Rights ,
Price-Fixing ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Trade Retaliation ,
Trade Wars ,
Trump Administration ,
Tyson Foods ,
US Trade Policies
Some U.S. tech firms are finding ways to get around the White House’s Huawei no fly zone, with Micron, Qualcomm, and Intel leading the way...more
6/26/2019
/ AbbVie ,
Allergan Inc ,
Aviation Industry ,
BuzzFeed ,
Capital Markets ,
CFTC ,
China ,
Commodities ,
Department of Justice (DOJ) ,
Fashion Industry ,
Federal Reserve ,
Foreign Policy ,
Foreign Relations ,
G20 ,
Huawei ,
Insider Trading ,
Merrill Lynch ,
Mitsubishi ,
National Security ,
Prohibited Transactions ,
Rare Earth Metals ,
Spoofing ,
Stock Prices ,
Supply Chain ,
Telecommunications ,
UBS
Sprint and T-Mobile are facing new merger headwinds in the form of a NY & CA state AG-led lawsuit in the Southern District of New York that seeks to block the deal, alleging that it would cost customers of the companies “at...more
6/12/2019
/ Activist Investors ,
Amazon Marketplace ,
Apple ,
China ,
Consumer Financial Products ,
Dodd-Frank ,
Financial Regulatory Reform ,
Google ,
Initial Public Offering (IPO) ,
Loans ,
On-Demand Services ,
Raytheon ,
Slack ,
Sprint ,
T-Mobile ,
Tariffs ,
Telecommunications ,
Trade Wars ,
Trump Administration ,
Wells Fargo ,
Wireless Industry
The White House announced on Friday that the US and Mexico reached a deal that it deemed sufficient to keep from levying the threatened 5% tariffs on Mexican goods that was set to take effect today. As details of that deal...more
6/10/2019
/ Aerospace ,
Amazon Marketplace ,
China ,
Cross-Border Transactions ,
Cryptocurrency ,
Defense Sector ,
Digital Currency ,
Economic Sanctions ,
FedEx ,
Huawei ,
Imports ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Job Creation ,
Mexico ,
National Security ,
Raytheon ,
Salesforce ,
Tariffs ,
Trade Relations ,
Trump Administration ,
Uber ,
Unemployment ,
US Trade Policies ,
Virtual Currency
Well, that was short lived. FiatChrysler broke news late yesterday that it’s withdrawing its offer to merge with France’s Renault, mere weeks after the companies bowled over the auto world with the proposal. Fiat blamed the...more
6/6/2019
/ Administrative Appointments ,
Aircraft Sales ,
Best Interest Standard ,
Boeing ,
CFTC ,
China ,
Chrysler ,
Conflicts of Interest ,
Department of Justice (DOJ) ,
Economic Development ,
Electric Vehicles ,
Federal Trade Commission (FTC) ,
Fiat ,
Investment Adviser ,
Mexico ,
New Rules ,
Renault-Nissan ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Tariffs ,
Trade Wars ,
Trump Administration ,
US Trade Policies ,
Volkswagen ,
Wall Street
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
6/4/2019
/ Amazon Marketplace ,
Apple ,
China ,
Chrysler ,
Denial of Certiorari ,
Department of Justice (DOJ) ,
Economic Development ,
Facebook ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Fiat ,
Financial Services Industry ,
FinTech ,
France ,
General Motors ,
Google ,
Government Investigations ,
Insider Trading ,
Interest Rate Adjustments ,
Mexico ,
NYDFS ,
OCC ,
Regulatory Agenda ,
Regulatory Oversight ,
Renault-Nissan ,
SAC Capital ,
SCOTUS ,
Tariffs ,
Tax Cuts and Jobs Act ,
Tesla ,
Trump Administration
The DOJ is considering joining its European counterparts in targeting Google for potential antitrust violations focused on Google’s “advertising practices and influence in the online advertising industry,” possibly including...more
6/3/2019
/ Amazon Marketplace ,
Antitrust Violations ,
Apartments ,
Apple ,
Biotechnology ,
China ,
Department of Justice (DOJ) ,
Facebook ,
Federal Reserve ,
Google ,
Imports ,
India ,
Inflation Adjustments ,
Influencers ,
Jeff Bezos ,
Johnson & Johnson ,
Martin Shkreli ,
Mesothelioma ,
Mexico ,
Online Advertisements ,
Punitive Damages ,
Real Estate Market ,
Regulatory Agenda ,
Search Engines ,
Tariffs ,
Trade Policy ,
Trade Relations ,
Trump Administration ,
Volkswagen