The downfall of Nissan’s Carlos Ghosn continues today with news that Ghosn has been arrested by Japanese prosecutors over the recently revealed whistle-blower complaint alleging that he had “been misrepresenting his salary as...more
11/21/2018
/ Amazon ,
Automotive Industry ,
Bitcoin ,
CEOs ,
Chapter 11 ,
China ,
Commercial Bankruptcy ,
Corporate Misconduct ,
Criminal Prosecution ,
Disney ,
Federal Reserve ,
Film Industry ,
FSB ,
General Electric ,
Indictments ,
Japan ,
Merrill Lynch ,
Nissan ,
Restructuring ,
Sanction Violations ,
Spoofing
As widely expected, the Fed held rates steady when it wrapped its Open Market Committee meeting yesterday afternoon and deemed the economy “in good health,” laying the groundwork for another rate increase next month....more
11/9/2018
/ Department of Justice (DOJ) ,
Ether Tokens ,
European Central Bank ,
Federal Reserve ,
Financial Crisis ,
Financial Markets ,
Futures ,
Google ,
Interest Rates ,
Investment Fraud ,
JPMorgan Chase ,
Policies and Procedures ,
Putative Class Actions ,
RMBS ,
Securities and Exchange Commission (SEC) ,
Sexual Harassment ,
Spoofing ,
Stocks ,
Trading Platforms ,
UBS ,
Unregistered Securities
US stocks dove again on Monday after early gains, thanks, in part, to concerns that the White House is planning yet another round of tariffs on “all remaining imports from China” if the US and China make no progress in trade...more
10/30/2018
/ Banks ,
Campbell Soup Company ,
China ,
Climate Change ,
Digital Taxes ,
e-Books ,
Exxon Mobil ,
Federal Reserve ,
Financial Fraud ,
Financial Markets ,
Regulatory Agenda ,
Stock Prices ,
Tariffs ,
Tax Revenues ,
Technology Sector ,
Trade Relations ,
UK
New York has sued Exxon Mobile over its alleged failure to disclose to its shareholder the “expected risk of climate change to its business”—behavior that the state asserts amounts to a “’longstanding fraudulent scheme’ to...more
10/25/2018
/ Apple ,
China ,
Climate Change ,
Consumer Financial Protection Bureau (CFPB) ,
Data Protection ,
Enforcement Actions ,
Ethics Breach ,
Exxon Mobil ,
Failure To Disclose ,
Federal Reserve ,
Financial Markets ,
Financial Services Industry ,
Foreign Relations ,
Goldman Sachs ,
Interest Rate Adjustments ,
Investment Fraud ,
Misleading Impressions ,
Oil & Gas ,
Payday Loans ,
Quarterly Report ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Stock Prices ,
Tariffs ,
Tesla ,
Trading Plans ,
Trump Administration ,
Wells Fargo ,
WTO
The Federal Reserve bank released the minutes from its September meeting yesterday. Among other things, we learned that the Fed Governors moved largely in lockstep on September’s rate hike, even as the crew was less unanimous...more
10/18/2018
/ CEOs ,
China ,
Commercial Bankruptcy ,
Corporate Executives ,
Corporate Governance ,
Criminal Conspiracy ,
Criminal Prosecution ,
Currency Manipulation ,
Data Breach ,
Deutsche Bank ,
Facebook ,
Federal Reserve ,
Financial Institutions ,
Financial Markets ,
Forex ,
Free Trade Agreements ,
FSOC ,
Insurance Industry ,
Interest Rate Adjustments ,
Investment Fraud ,
Libor ,
Mark Zuckerberg ,
Martin Act ,
Prudential ,
Retail Market ,
Sears ,
Securities and Exchange Commission (SEC) ,
SIFIs ,
Trade Relations ,
Trans-Pacific Partnership ,
U.S. Treasury
In order to comply with European antitrust rulings against it earlier this year, Google announced that for the first time it will begin charging telephone handset manufacturers to install Gmail, Google Maps, and other popular...more
10/17/2018
/ Android ,
Antitrust Provisions ,
Audi ,
Automotive Industry ,
Banks ,
Capital Raising ,
Carbon Emissions ,
Commercial Bankruptcy ,
Debt ,
Debt Ceiling ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Earnings Reports ,
Elon Musk ,
Embedded Tweets ,
EU ,
Federal Reserve ,
Fees ,
Germany ,
Goldman Sachs ,
Google ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
Lyft ,
Market Manipulation ,
Mobile Apps ,
Mobile Devices ,
Nasdaq ,
NYSE ,
RMBS ,
Sears ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Sharing Economy ,
Tesla ,
Twitter ,
Uber ,
Volkswagen ,
White Collar Crimes
Blackstone CEO Stephen Schwarzman and BlackRock CEO Larry Fink have joined JPMorgan’s Jamie Dimon and a growing list of other business titans who have withdrawn from Saudi Arabia’s “Davos in the Desert” investment conference...more
10/16/2018
/ Anthem Insurance ,
Artificial Intelligence ,
China ,
Commercial Bankruptcy ,
Cyber Attacks ,
Data Breach ,
Data Protection Commissioner ,
Deutsche Bank ,
Embedded Tweets ,
Federal Reserve ,
Foreign Debt ,
Foreign Investment ,
General Data Protection Regulation (GDPR) ,
IBM ,
Ireland ,
Libor ,
Microsoft ,
Personally Identifiable Information ,
Retail Market ,
Robots ,
Saudi Arabia ,
Sears ,
SoftBank ,
Stock Prices ,
Twitter
More on the rather shocking departure of John Flannery from GE, the Board that didn’t want to give him any more leash for his turnaround plans, and the future of the embattled corporate giant under Larry Culp....more
10/2/2018
/ Banks ,
Canada ,
Cross-Border Transactions ,
Cyber Attacks ,
Data Breach ,
Enforcement Actions ,
Exports ,
Facebook ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Services and Markets Act ,
Financial Services Industry ,
Free Trade Agreements ,
General Electric ,
IMF ,
Imports ,
Insider Trading ,
Instagram ,
Investment Opportunities ,
IRS ,
Marijuana Related Businesses ,
Mexico ,
NAFTA ,
PayPal ,
Resignation ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Social Media ,
Tax Fraud ,
Tesco ,
Trade Relations ,
UK ,
US Trade Policies ,
Wells Fargo
To no one’s surprise, the Fed followed through with its months of promises and raised its benchmark interest rate by 25 basis points yesterday. The FOMC also indicated that it’s planning to raise rates again in December....more
9/27/2018
/ 21st Century Fox ,
Agricultural Sector ,
Automotive Industry ,
Bailout ,
Benchmarks ,
Blockchain ,
CalPERS ,
Canada ,
CFTC ,
Collateralized Loan Obligations ,
Comcast ,
Commodities ,
Cryptocurrency ,
Dairy Farmers ,
Data Breach ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Exports ,
Federal Reserve ,
Financial Markets ,
FOMC ,
Hong Kong ,
Initial Public Offering (IPO) ,
Interest Rates ,
Japan ,
Junk Bonds ,
Leveraged Lending ,
NAFTA ,
Pensions ,
Pharmaceutical Industry ,
Prescription Drugs ,
Regulatory Oversight ,
Sharing Economy ,
Supply Chain ,
Trade Relations ,
Trump Administration ,
Uber ,
US Trade Policies ,
USDA ,
Virtual Currency
Less than a day after the Journal reported that CBS and the Redstones are nearing a deal to resolve their many differences, we’ve learned that CBS chief Les Moonves—facing an investigation into alleged sexual harassment...more
9/7/2018
/ Anti-Competitive ,
Apple ,
CBS ,
China ,
Credit Ratings ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Elon Musk ,
Emerging Markets ,
EU ,
Fannie Mae ,
Federal Reserve ,
Financial Fraud ,
Financial Markets ,
Financial Services Industry ,
Freddie Mac ,
Investors ,
Job Creation ,
Lehman Brothers ,
NY Supreme Court ,
Price Manipulation ,
Quicken Loans ,
RMBS ,
S&P ,
Sexual Harassment ,
Stock Prices ,
Stocks ,
Tesla ,
Unemployment ,
Wells Fargo
The author who literally wrote the book on the Enron is warning that the next financial crisis is lurking underground—aka, fracking has “turned the energy world upside down,” and it’s pulled in a bunch of Wall Street along...more
9/4/2018
/ Antitrust Litigation ,
Article III ,
Barclays ,
Children's Toys ,
China ,
Coca Cola ,
Credit Cards ,
Credit Suisse ,
Deutsche Bank ,
Elon Musk ,
Energy Sector ,
FDIC ,
Federal Reserve ,
Financial Crisis ,
Financial Institutions ,
Financial Markets ,
Fracking ,
Initial Public Offering (IPO) ,
Injury-in-Fact ,
LEGO ,
Libor ,
Living Will ,
Oil & Gas ,
Privacy Laws ,
Prudential ,
Regulatory Requirements ,
Sexual Harassment ,
Snapchat ,
SpaceX ,
Standing ,
Technology Sector ,
Tesla ,
UBS ,
Visa Inc
Following yesterday’s US/Mexico trade announcement, Canada’s wasting little time in getting back to the table with the US on revised Nafta talks...more
8/29/2018
/ Bonds ,
Canada ,
Community Reinvestment Act ,
Cross-Border Transactions ,
Data Collection ,
Exports ,
Federal Reserve ,
Foreign Relations ,
Free Trade Agreements ,
Imports ,
Insider Trading ,
Low-Income Issues ,
Mexico ,
Moody's ,
NAFTA ,
OCC ,
Securities and Exchange Commission (SEC) ,
Senate Confirmation Hearings ,
Trade Relations ,
Trump Administration ,
US Trade Policies ,
White Collar Crimes ,
Yahoo!
CEO Dara Khosrowshahi is undoubtedly breathing a sigh of relief on news out of the UK yesterday that Uber will regain its taxi license in London—a “crucial victory for efforts by its new chief executive to revamp the...more
6/27/2018
/ Amazon ,
American Express ,
Bank of America ,
Canada ,
Class Action ,
ConAgra ,
Consumer Financial Products ,
Credit Cards ,
Eskom ,
EU ,
Federal Reserve ,
Food and Drug Administration (FDA) ,
General Electric ,
Harley-Davidson ,
Imports ,
Investment Fraud ,
Lending ,
Ponzi Scheme ,
Ridesharing ,
Small Business ,
South Africa ,
Spotify ,
State Street ,
Steel Industry ,
Stress Tests ,
Tariffs ,
Trade Retaliation ,
Uber ,
UK ,
UK Brexit ,
US Trade Policies
The SEC has opened a probe into Guggenheim Partners’ asset-management arm over an $85-million real-estate transaction and a series of other deals involving ABS Capital—including a loan to BCBG Max Azria just months before the...more
4/16/2018
/ AIG ,
Capital Raising ,
Dodd-Frank ,
Dropbox ,
E-Commerce ,
Elon Musk ,
Federal Reserve ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Internet Retailers ,
Internet Taxation ,
Martin Act ,
Real Estate Transactions ,
Retail Market ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
South Dakota v. Wayfair ,
Spotify ,
Tesla ,
US Trade Policies ,
Volcker Rule
A White House announcement about plans for steel and aluminum tariffs left the already-unsettled markets even shakier yesterday....more
3/2/2018
/ Aluminum Sales ,
Amazon Marketplace ,
Deutsche Bank ,
FDIC ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Goldman Sachs ,
Imports ,
Investment Fraud ,
Libor ,
Material Suppliers ,
RBS ,
Steel Industry ,
Tariffs ,
Transportation Industry ,
Trump Administration ,
Uber ,
UK ,
Wealth Management ,
Wells Fargo ,
Whistleblowers ,
Whole Foods
The UK’s Serious Fraud Office unveiled new charges against Barclays Bank yesterday over a $3 billion loan it made to Qatar in 2008 for the purpose of “allowing the firm to directly or indirectly acquire shares in Barclays...more
2/13/2018
/ Aetna ,
Barclays ,
Comcast ,
Digital Currency ,
Disney ,
Dow Jones ,
Enforcement Actions ,
Federal Reserve ,
Financial Markets ,
Health Insurance ,
Initial Coin Offering (ICOs) ,
Securities Violations ,
Serious Fraud Office (SFO) ,
Token Sales ,
Trading Platforms ,
UK ,
Virtual Currency ,
Wells Fargo ,
White Collar Crimes
Markets proved that last Friday’s 600-point Dow drop wasn’t an isolated incident, as all major US indices were down nearly 4% (at least) in a nasty Monday of trading....more
2/6/2018
/ Alphabet Company ,
Automotive Industry ,
Banking Sector ,
Bitcoin ,
Class Action ,
Corruption ,
Criminal Prosecution ,
Digital Currency ,
Dow Jones ,
Driverless Cars ,
Federal Reserve ,
Financial Markets ,
HSBC ,
Intellectual Property Litigation ,
RMBS ,
Samsung ,
South Korea ,
Stock Prices ,
Uber ,
Virtual Currency ,
Wells Fargo ,
White Collar Crimes
The Fed held its last Open Markets Committee meeting under outgoing Chair Yellen, and it agreed to hold the benchmark rate in a range between 1.25% and 1.5%. Here’s the lowdown....more
2/1/2018
/ Appeals ,
Benchmarks ,
Bitcoin ,
CBO Report ,
CFTC ,
China ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Suisse ,
Derivatives ,
Digital Currency ,
Federal Reserve ,
GDP ,
Goldman Sachs ,
Morgan Stanley ,
Regulatory Oversight ,
Shutterfly ,
Stocks ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Tax Revenues ,
UBS ,
Virtual Currency
HSBC announced yesterday that, 5 years after its controversial deferred prosecution agreement with the DOJ following the Swiss bank’s 2012 $1.9 billion payment over money-laundering allegations, it’ll be released from those...more
12/13/2017
/ Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Digital Currency ,
Disney ,
E-Commerce ,
Enforcement Actions ,
Federal Reserve ,
FOMC ,
Forex ,
Hedge Funds ,
HSBC ,
Initial Coin Offering (ICOs) ,
Interest Rate Adjustments ,
Internet Retailers ,
Money Laundering ,
Xerox
The UK and EU made a significant breakthrough early this morning to “unlock” Brexit divorce negotiations. The still-rough agreement would see Britain repaying $53 billion and addressed in at least vague terms thorny issues...more
12/8/2017
/ Bank of New York (BNY) Mellon ,
Banking Sector ,
Banks ,
Basel IV ,
Bitcoin ,
Caterpillar ,
Citigroup ,
Corruption ,
Digital Currency ,
Economic Development ,
Energy Sector ,
EU ,
Federal Reserve ,
General Electric ,
Ireland ,
Job Creation ,
Member State ,
Railways ,
Regulatory Oversight ,
RMBS ,
Stress Tests ,
Tax Reform ,
UK ,
UK Brexit ,
White Collar Crimes
Bitcoin surged to over $11,000 yesterday before falling 20% later in the day, prompting this look from the Journal at the widespread lure of Bitcoin mania....more
11/30/2017
/ Administrative Law Judge (ALJ) ,
Anti-Retaliation Provisions ,
Appointments Clause ,
Bitcoin ,
Chipotle Grill ,
Cryptocurrency ,
Digital Currency ,
Digital Realty Trust Inc v Somers ,
Dodd-Frank ,
Dow Jones ,
Fast-Food Industry ,
Federal Reserve ,
Financial Markets ,
Mars ,
Nasdaq ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Senate Confirmation Hearings ,
Whistleblowers
Wells Fargo is again in federal regulators’ crosshairs. The OCC has dubbed the bank a repeat offender and is weighing a “formal enforcement action” over “improprieties in its auto-insurance and mortgage operations”....more
11/29/2017
/ Auto Insurance ,
Banking Sector ,
Bitcoin ,
Class Action ,
Consumer Financial Products ,
Cryptocurrency ,
Cyan Inc v Beaver Cty Emps Ret Fund ,
Digital Currency ,
EU ,
Federal Reserve ,
Interest Rate Adjustments ,
Manufacturers ,
MiFID II ,
Mortgages ,
Securities and Exchange Commission (SEC) ,
Social Networks ,
Supply Chain ,
UK ,
UK Brexit ,
Wells Fargo
As we’ve been expecting, the DOJ announced yesterday that it was suing to block AT&T’s $84.5 billion bid for Time Warner over antitrust concerns....more
11/21/2017
/ Administrative Appointments ,
Antitrust Provisions ,
AT&T ,
Automotive Industry ,
Bonds ,
Credit Suisse ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Driverless Cars ,
Enron ,
EU ,
European Banking Authority (EBA) ,
Federal Reserve ,
Merrill Lynch ,
Regulatory Agencies ,
Ridesharing ,
Securities Fraud ,
Sharing Economy ,
SIFIs ,
Technology Sector ,
Time Warner ,
Uber ,
UK Brexit ,
Volvo
DealBook’s Common Sense column takes a look at the AT&T/Time Warner deal and the “battle lines” forming for an “epic” antitrust battle, in spite of the vertical nature of the merger (the companies don’t compete in any...more
11/17/2017
/ Administrative Appointments ,
AT&T ,
Bitcoin ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Currency ,
E-Commerce ,
FCC ,
Federal Reserve ,
Grocery Stores ,
Initial Coin Offering (ICOs) ,
Presidential Appointments ,
Quarterly Report ,
Securities and Exchange Commission (SEC) ,
Subscription Services ,
Time Warner ,
Virtual Currency ,
Wal-Mart
More on the Saudi crackdown initiated by Crown Prince Mohammed bin Salman over the weekend, including the government’s move to confiscate and freeze more than $800 billion in assets from the detailed princes and other...more
11/8/2017
/ Activist Investors ,
Capital One ,
China ,
Consumer Financial Products ,
Corruption ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Financial Services Industry ,
Government Officials ,
Investment ,
Investment Banks ,
Mobile Apps ,
Money Laundering ,
Mortgage Loan Originators ,
Mortgages ,
Quarterly Report ,
Regulatory Oversight ,
RMBS ,
Saudi Arabia ,
Securities Fraud ,
Snapchat ,
U.S. Treasury ,
White Collar Crimes