Here’s about as 2019 as we can get in the financial world (with a healthy dose of 1950s-era gender discrimination for good measure): a series of tweets from tech entrepreneur David Heinemeier Hansson alleging gender...more
11/11/2019
/ Algorithms ,
Alibaba ,
Apple ,
Chapter 11 ,
Climate Change ,
Commodities ,
Consumer Financial Products ,
Credit Cards ,
E-Commerce ,
Economic Growth ,
Embedded Tweets ,
Emerging Markets ,
Enforcement Actions ,
Federal Reserve ,
Fees ,
Financial Services Industry ,
Gender Discrimination ,
Global Economy ,
Goldman Sachs ,
Hong Kong ,
Initial Public Offering (IPO) ,
Insolvency ,
Investors ,
Office Space ,
Publicly-Traded Companies ,
Saudi Aramco ,
Securities and Exchange Commission (SEC) ,
Sharing Economy ,
Social Media ,
Trading Platforms ,
Twitter ,
UBS
Uber reported another quarter of billion+ dollar losses, but as so many things on Wall Street & Silicon Valley tend to go, the news wasn’t all bad because those numbers were far better than the $5.2 billion it lost in Q2....more
11/5/2019
/ Bitcoin ,
China ,
Currency Exchange ,
Digital Assets ,
Digital Currency ,
Economic Reform ,
Exports ,
Financial Regulatory Reform ,
FSB ,
Imports ,
Initial Public Offering (IPO) ,
Market Manipulation ,
McDonalds ,
Office Space ,
Oil & Gas ,
Popular ,
Resignation ,
Revenue ,
RMBS ,
Saudi Aramco ,
Securities and Exchange Commission (SEC) ,
Sharing Economy ,
SoftBank ,
Startups ,
Tariffs ,
Trade Relations ,
Trade Wars ,
Uber ,
US Trade Policies
Federal authorities have been looking into Under Armour’s accounting practices for the better part of the past two years, a revelation that sent company shares reeling in premarket trading this morning....more
11/4/2019
/ Accounting Fraud ,
Cambridge Analytica ,
China ,
Chrysler ,
Currency Fluctuation ,
Data Collection ,
Disgorgement ,
Economic Sanctions ,
Enforcement Authority ,
Equitable Relief ,
Facebook ,
Fiat ,
Fitbit ,
Foreign Investment ,
Google ,
Healthcare ,
Initial Public Offering (IPO) ,
Judicial Review ,
Kokesh v SEC ,
McDonalds ,
Mobile Apps ,
National Security ,
Negligence ,
Office Space ,
Penalties ,
Peugeot ,
Policies and Procedures ,
Retailers ,
Saudi Aramco ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Sharing Economy ,
Smart Devices ,
Statute of Limitations ,
Trade Policy ,
Trade Retaliation ,
Trade Wars ,
Wearable Technology ,
Workplace Romances ,
WTO
Details are trickling in on the tentative Brexit agreement reached between UK and EU negotiators this week, just 14 days ahead of the Halloween departure deadline. A massive sticking point here remains the British...more
10/18/2019
/ Banks ,
Brick-and-Mortar Stores ,
Brokers ,
Charles Schwab ,
China ,
Climate Change ,
Corruption ,
Credit Suisse ,
E-Cigarettes ,
E-Commerce ,
EU ,
Facebook ,
False Statements ,
Federal Reserve ,
Financial Harm ,
Foreign Policy ,
General Motors ,
Initial Public Offering (IPO) ,
Investment Opportunities ,
Kickbacks ,
Labor Relations ,
Mozambique ,
Netflix ,
Political Speech ,
Ponzi Scheme ,
Presidential Elections ,
Retail Market ,
Saudi Arabia ,
Saudi Aramco ,
Scams ,
Securities Transactions ,
Severe Weather ,
Social Media ,
Strike ,
Tariffs ,
Trade Relations ,
Trade Wars ,
UAW ,
UK ,
UK Brexit ,
US Trade Policies ,
Vaping ,
Wage and Hour ,
White Collar Crimes ,
White Papers
We Work’s largest investor, SoftBank, is reportedly sketching out plans in which it would drop billions of additional money on the company in return for giving Masa Son control of WeWork “and further sidelin[ing] its founder...more
10/14/2019
/ Banks ,
China ,
Commercial Bankruptcy ,
Cryptocurrency ,
Earnings Reports ,
eBay ,
Electricity ,
Enforcement Actions ,
Facebook ,
Federal Reserve ,
Global Marketplace ,
Initial Public Offering (IPO) ,
MasterCard ,
Offerings ,
Office Space ,
Offshore Companies ,
Opioid ,
OxyContin ,
Pain Management ,
PG&E ,
Pharmaceutical Industry ,
Purdue Pharma ,
Sears ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Sharing Economy ,
SoftBank ,
Stays ,
Tariffs ,
Token Sales ,
Trade Relations ,
Trade Wars ,
Treasury Regulations ,
Trump Administration ,
Unregistered Securities ,
US Trade Policies ,
Visa Inc ,
Volkswagen ,
Wall Street ,
Wildfires
Because the Nissan leadership scandal is about as well-contained as Chernobyl in the early days [thanks, HBO], French automaker Renault has voted this morning to remove Chief Executive Thierry Bolloré amid concerns over the...more
10/11/2019
/ Automotive Industry ,
Banks ,
Bitcoin ,
Business Valuations ,
California Consumer Privacy Act (CCPA) ,
Capital Rules ,
CFTC ,
China ,
Commercial Bankruptcy ,
Commodities ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Electricity ,
Ether ,
Federal Reserve ,
Financial Regulatory Reform ,
Financial Services Industry ,
General Motors ,
Initial Public Offering (IPO) ,
Investment Banks ,
Labor Relations ,
Layoffs ,
Lenders ,
Liquidity ,
Personal Data ,
PG&E ,
Regulatory Burden ,
Renault-Nissan ,
Reorganizations ,
Retailers ,
Rollbacks ,
Saudi Arabia ,
Saudi Aramco ,
Trade Wars ,
Trump Administration ,
UAW ,
US Trade Policies ,
Victoria Secret ,
Wal-Mart
Top Tidjane Thiam ally Pierre-Olivier Bouee, Credit Suisse’s COO, has resigned in the wake of an internal probe finding that he “ordered the surveillance of the bank’s former wealth-management chief, Iqbal Khan, without...more
10/1/2019
/ Allergan Inc ,
Apple ,
Bank of America ,
Cancer ,
China ,
Commercial Bankruptcy ,
Commercial Real Estate Market ,
Credit Suisse ,
CVS ,
Department of Labor (DOL) ,
Endo Pharmaceuticals ,
Exemptions ,
Food and Drug Administration (FDA) ,
Foreign Trade Regulations ,
Forever 21 ,
Hiring & Firing ,
Initial Public Offering (IPO) ,
Job Creation ,
Job Descriptions ,
Johnson & Johnson ,
Labor Law Violations ,
Laptop Computers ,
Office Space ,
Opioid ,
Pet Smart ,
Pharmaceutical Industry ,
Pharmacies ,
Popular ,
Prescription Drugs ,
Product Recalls ,
Purdue Pharma ,
Race Discrimination ,
Repossess ,
Retailers ,
Rite Aid ,
Settlement ,
Sharing Economy ,
Shopping Centers ,
Startups ,
Surveillance ,
Tariffs ,
UK Brexit ,
US Trade Policies ,
Walgreens ,
WTO
Well, that was remarkably quick. Just days after WeWork’s board announced that it was considering replacing co-founder Adam Neumann to help clear a path to the work-share-startup’s initial public offering, Neumann stepped...more
9/25/2019
/ Airbus ,
Apple ,
CEOs ,
Chrysler ,
Corporate Restructuring ,
Department of Labor (DOL) ,
Diesel Fuel ,
E-Cigarettes ,
EU ,
Fair Labor Standards Act (FLSA) ,
Federal Reserve ,
Fiat ,
Heinz ,
Initial Public Offering (IPO) ,
Kraft ,
Labor Regulations ,
Layoffs ,
Minimum Salary ,
National Emissions Standards ,
Office Space ,
Over-Time ,
Popular ,
Rulemaking Process ,
Sharing Economy ,
Short-Term Loans ,
Startups ,
Tariffs ,
Tax Debt ,
Trade Relations ,
US Trade Policies ,
Wage and Hour ,
White-Collar Exemptions
WeWork’s drama in past weeks—which includes a planned and postponed public offering thanks to rough financials and dicey corporate governance—is prompting the company to consider swapping out founder Adam Neumann as CEO to...more
9/23/2019
/ Banks ,
China ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Governance ,
Criminal Conspiracy ,
E-Cigarettes ,
Employee Definition ,
Extradition ,
Financial Crisis ,
Huawei ,
Independent Contractors ,
India ,
Initial Public Offering (IPO) ,
Liquidity ,
Lyft ,
Municipal Bonds ,
Office Space ,
Oil Prices ,
Repossess ,
Retailers ,
RMBS ,
Sharing Economy ,
Single Director ,
Social Credit System ,
State Labor Laws ,
Stock Markets ,
Trade Negotiations ,
Trade Relations ,
Trade Wars ,
Trump Administration ,
Uber ,
US Trade Policies ,
Wal-Mart
Fintech firm Stripe Inc., which “allows internet companies and online marketplaces to accept credit cards for their goods and services and pay out money to the people and firms that sell on their platforms,” just wrapped a...more
9/20/2019
/ AirBnB ,
Amazon Marketplace ,
Bribery ,
Capital Raising ,
Carbon Emissions ,
CFTC ,
China ,
Corporate Branding ,
Drug & Alcohol Abuse ,
Enforcement Programs ,
Exports ,
FinTech ,
General Motors ,
Imports ,
Initial Public Offering (IPO) ,
Insider Trading ,
Jeff Bezos ,
Money Laundering ,
Money Services Business ,
Opioid ,
OxyContin ,
Pain Management ,
Paris Agreement ,
Payment Systems ,
Pharmaceutical Industry ,
Prescription Drugs ,
Purdue Pharma ,
RBS ,
Tariffs ,
Trade Negotiations ,
Trade Relations ,
Trump Administration ,
US Trade Policies ,
Virtual Currency ,
Whistleblowers
As pretty much expected, the Federal Reserve cut interest rates a quarter point again yesterday, its second cut since late July. Fed Chair Powell also indicated in remarks after the FOMC broke that a “‘more extensive’ series...more
9/19/2019
/ AT&T ,
CFTC ,
DirectTV ,
Employee Definition ,
FDIC ,
Federal Reserve ,
Financial Markets ,
Financial Regulatory Reform ,
General Motors ,
Gig Economy ,
Independent Contractors ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
J Crew ,
Legislative Agendas ,
OCC ,
Pending Legislation ,
Proprietary Trading ,
Repossess ,
Retailers ,
Securities and Exchange Commission (SEC) ,
State and Local Government ,
State Labor Laws ,
Strike ,
Trump Administration ,
Volcker Rule
The Federal Reserve took the rare step yesterday of stepping “into financial markets . . . to keep interest rates from rising above its target, the first time the central bank has had to carry out this type of ‘market...more
9/18/2019
/ AT&T ,
Board of Directors ,
Capital Requirements ,
Collateralized Debt Obligations ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Department of Justice (DOJ) ,
Drones ,
False Statements ,
FDIC ,
Federal Reserve ,
Financial Crisis ,
Financial Instruments ,
Financial Markets ,
Financial Regulatory Reform ,
FOMC ,
Forever 21 ,
Hedge Funds ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
Internet Streaming ,
JPMorgan Chase ,
NBC ,
OCC ,
Office Space ,
Oil Prices ,
Price Manipulation ,
Rare Earth Metals ,
Retailers ,
RICO ,
Spoofing ,
Swaps ,
Universal ,
Wachovia ,
Wells Fargo
Shared office-space company WeWork, which had committed to moving forward with its planned IPO this week despite recent turmoil, appears likely to postpone the offering until at least October in an effort to shore up its...more
9/17/2019
/ Airbus ,
Amazon Marketplace ,
Bear Sterns ,
CFTC ,
Department of Justice (DOJ) ,
Economic Sanctions ,
EU ,
Failure To Disclose ,
Federal Reserve ,
Financial Regulatory Reform ,
Futures ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
Interest Rates ,
Internet Streaming ,
Japan ,
JPMorgan Chase ,
Market Manipulation ,
Mutual Funds ,
Netflix ,
Office Space ,
Oil & Gas ,
Oil Prices ,
Proprietary Trading ,
Prudential ,
Rare Earth Metals ,
Reorganizations ,
Sharing Economy ,
Short-Term Loans ,
Spoofing ,
Trade Relations ,
Trump Administration ,
Volcker Rule ,
WTO
A drone attack on Saudi Aramco oilfields this weekend affected 5% of global production and sent “energy prices substantially higher” late Sunday and early today. Analysts don’t anticipate a “severe shock to energy markets and...more
9/16/2019
/ Aerospace ,
Bank of New York (BNY) Mellon ,
Bias ,
BlackRock ,
Boeing ,
Commercial Bankruptcy ,
Cryptocurrency ,
Debt ,
Derivative Suit ,
Drones ,
Drug & Alcohol Abuse ,
Drug Distribution ,
Economic Growth ,
Energy Market ,
Enforcement Actions ,
Facebook ,
Financial Markets ,
General Motors ,
Global Economy ,
GSE ,
Initial Public Offering (IPO) ,
Investors ,
J Crew ,
Junk Debt ,
Labor Relations ,
Leveraged Loans ,
Oil & Gas ,
Oil Prices ,
Opioid ,
OxyContin ,
Pain Management ,
Pharmaceutical Industry ,
Pharmacies ,
Purdue Pharma ,
RMBS ,
Safety Standards ,
Saudi Aramco ,
Settlement Agreements ,
Strike ,
Trump Administration ,
UK Brexit
There’s some surprise market wheeling and dealing afoot this morning. The Hong Kong stock exchange has offered to buy its London counterpart as part of a deal valued at $37 billion that would connect “the established...more
9/11/2019
/ Administrative Procedure Act ,
Alibaba ,
Amazon Marketplace ,
Anbang ,
Apple ,
Big Tech ,
Brokers ,
China ,
Competition ,
Department of Justice (DOJ) ,
Deregulation ,
Dodd-Frank ,
E-Commerce ,
Economic Espionage Act ,
Federal Trade Commission (FTC) ,
Fidelity National Title Insurance Company ,
Financial Regulatory Reform ,
Hong Kong Stock Exchange ,
Hotels ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
Internet Retailers ,
Investment Portfolios ,
iPhone ,
Layoff Notices ,
London Stock Exchange ,
Merchants ,
Real Estate Market ,
Ridesharing ,
Securities and Exchange Commission (SEC) ,
State Attorneys General ,
Title Insurance ,
Trade Secrets ,
Uber ,
White Collar Crimes
Paul Singer’s Elliott Management hedge fund revealed a $3.2 billion stake in AT&T and, along with it, a healthy-skepticism of the company’s 2018 purchase of Time Warner and general calls to divest as part of a 24-page letter...more
9/10/2019
/ Activist Hedge Funds ,
Activist Investors ,
Anti-Bribery ,
Appeals ,
AT&T ,
Competition ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
E-Cigarettes ,
Economic Downturn ,
En Banc Review ,
Facebook ,
Fannie Mae ,
FHFA ,
Food and Drug Administration (FDA) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Currency ,
Freddie Mac ,
Gig Economy ,
Google ,
GSE ,
Independent Contractors ,
Initial Public Offering (IPO) ,
Legislative Agendas ,
Lyft ,
Marketing ,
Misclassification ,
Monopolization ,
Nissan ,
No-Deal Brexit ,
Pending Legislation ,
Public Health ,
Recessions ,
Regulatory Violations ,
Ridesharing ,
Securities and Exchange Commission (SEC) ,
Share Price ,
SoftBank ,
Time Warner ,
Uber ,
UK ,
UK Brexit ,
Vaping
Jobs Report Friday! Here’s what to look for in the numbers – WSJ and Bloomberg and NYTimes The White House has rolled out its “long-awaited plan” to return federal mortgage giants Fannie Mae and Freddie Mac to the private...more
9/6/2019
/ Argentina ,
Capital Raising ,
CFOs ,
China ,
Consumer Financial Protection Bureau (CFPB) ,
Danske Bank ,
Economic Downturn ,
Fannie Mae ,
Financial Markets ,
Financial Regulatory Reform ,
Freddie Mac ,
Hiring & Firing ,
Initial Public Offering (IPO) ,
Investment ,
Job Creation ,
Job Market ,
Mortgages ,
Offerings ,
Oil & Gas ,
Saudi Arabia ,
Saudi Aramco ,
Sharing Economy ,
Trump Administration ,
Unemployment
The FTC has opened a probe into e-cigarette maker Juul’s marketing practices, including allegations that the company “used influencers and other marketing to appeal to minors”....more
8/30/2019
/ Antitrust Investigations ,
China ,
Construction Industry ,
E-Cigarettes ,
Employee Rights ,
Exports ,
Fashion Design ,
Federal Trade Commission (FTC) ,
Hemp ,
Housing Market ,
Huawei ,
Imports ,
Independent Contractors ,
Influencers ,
Initial Public Offering (IPO) ,
Internet Marketing ,
Labor Law Violations ,
Labor Regulations ,
Misclassification ,
NLRB ,
Public Offerings ,
Retail Market ,
Saudi Aramco ,
Saudi Stock Exchange ,
Startups ,
Stock Prices ,
Stock Trades ,
Target ,
Tariffs ,
Trade Retaliation ,
Trade Wars ,
Trump Administration ,
UK Brexit ,
UK Parliament ,
Union Organizers ,
White Collar Crimes
Man-of-the-people PM Boris Johnson is set to as the Queen to suspend parliament for 5 weeks in an attempt to squeeze the time for opposition to the October 31st Brexit deadline, a move that’s prompting concerns about a...more
8/28/2019
/ Administrative Appointments ,
Arby's ,
China ,
Commercial Bankruptcy ,
Consumer Financial Protection Bureau (CFPB) ,
Currency Fluctuation ,
Driverless Cars ,
Drug & Alcohol Abuse ,
Enforcement Actions ,
Federal Reserve ,
Foreign Currency ,
Google ,
Initial Public Offering (IPO) ,
Intellectual Property Protection ,
Interest Rate Adjustments ,
Johnson & Johnson ,
Misappropriation ,
Opioid ,
Pain Management ,
Papa John's International ,
Pharmaceutical Industry ,
Philip Morris ,
Prescription Drugs ,
Prime Minister ,
Public Benefit Corporation ,
Purdue Pharma ,
Reputation Management ,
Stock-for-Stock Merger ,
Theft ,
Trade Secrets ,
Trade Wars ,
Uber ,
UK ,
UK Brexit ,
UK Parliament
The CBO sent shivers down the spines of deficit hawks yesterday with its latest forecast that shows federal cost overruns hitting $1 trillion for fiscal 2020, an increase of more than $100 billion from projections just 3...more
8/24/2019
/ Alibaba ,
Bonds ,
Capital Gains ,
CBO Report ,
Department of Justice (DOJ) ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Economic Downturn ,
Employment Tax ,
Executive Compensation ,
Germany ,
Hedge Funds ,
Hong Kong ,
Initial Public Offering (IPO) ,
Job Creation ,
Oil & Gas ,
Proxy Advisors ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Senate Banking Committee ,
Tax Reform ,
Trump Administration ,
Unemployment ,
Wells Fargo
Saudi Aramco’s mega IPO plans are back on, and while valuation and other stumbling blocks remain, the kingdom is hoping to raise billions via the public offering as early as next year....more
8/12/2019
/ Antitrust Investigations ,
Apple ,
Barnes and Noble ,
Beverage Manufacturers ,
Bribery ,
CBS ,
China ,
Currency Manipulation ,
Denmark ,
Facebook ,
Foreign Corrupt Practices Act (FCPA) ,
IMF ,
Initial Public Offering (IPO) ,
Mobile Apps ,
Official Act ,
Oil & Gas ,
Online Safety for Children ,
Popular ,
Russia ,
Saudi Arabia ,
Saudi Aramco ,
SoftBank ,
Solar Energy ,
Viacom ,
Wine & Alcohol
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
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
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
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