T-Mobile chief and fan-of-magenta John Legere has announced that he’ll be stepping down in April at the end of his current contract. Legere will be succeeded by Mike Sievert, the carrier’s current president and COO....more
11/19/2019
/ Appeals ,
Big Tech ,
Bonds ,
Business Valuations ,
Capital Raising ,
CEOs ,
China ,
Competition ,
Consumer Financial Products ,
Controlling Stockholders ,
Cosmetics ,
Criminal Convictions ,
Emerging Growth Companies ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
Hedge Funds ,
Initial Public Offering (IPO) ,
Interest Rates ,
Internet ,
Japan ,
Loans ,
Martin Shkreli ,
Mobile Apps ,
Mortgages ,
OCC ,
Personal Care Products ,
Pharmaceutical Industry ,
Popular ,
Predatory Lending ,
Proposed Rules ,
Public Comment ,
Resignation ,
Revenue Growth ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Social Media ,
SoftBank ,
Startups ,
Stock Markets ,
Stock Sale Agreements ,
T-Mobile ,
Text Messages ,
Yahoo!
Dean Foods, the largest milk company in the U.S., has filed for bankruptcy protection, a “fresh setback to a U.S. dairy industry struggling against declining U.S. milk consumption and rising competition.” Industry experts...more
11/13/2019
/ #MeToo ,
AbbVie ,
Allergan Inc ,
Automotive Industry ,
Blockchain ,
Bonds ,
Checking Accounts ,
China ,
Class Action ,
Commercial Bankruptcy ,
Compensation & Benefits ,
Congressional Investigations & Hearings ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Data Collection ,
Disney ,
Economic Reform ,
Employment Litigation ,
Enforcement Actions ,
EU ,
Farms ,
Financial Services Industry ,
Google ,
Government Investigations ,
Imports ,
Internet Streaming ,
Investment ,
Loss of Income ,
Manufacturers ,
Market Manipulation ,
McDonalds ,
Nissan ,
Office Space ,
Overstock.com ,
Pharmaceutical Industry ,
Popular ,
Privacy Concerns ,
Revenue ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Sexual Harassment ,
Sharing Economy ,
Small Business ,
SoftBank ,
Stock Prices ,
Tariffs ,
Trade Relations ,
Trade Wars ,
Trump Administration ,
US Trade Policies
WeWork is reportedly looking to swap out co-founder Adam Neumann for a similarly long-tressed and eccentric figure, T-Mobile’s John Legere. Legere is currently quite occupied with his company’s merger with Sprint, and his...more
11/12/2019
/ Administrative Law Judge (ALJ) ,
Buyouts ,
CEOs ,
Collateralized Loan Obligations ,
Data Collection ,
Data Management ,
Disney ,
Enforcement Authority ,
Google ,
High Yield Bonds ,
Internet Streaming ,
Lucia v SEC ,
Office Space ,
PHI ,
Saudi Arabia ,
Securities and Exchange Commission (SEC) ,
Sharing Economy ,
Technology Sector ,
Walgreens ,
Wall Street
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
Fiat Chrysler and France’s Peugeot are in the midst of merger talks that, if finalized, could “create a nearly $50 billion trans-Atlantic auto giant.” One option being bandied about in the “fluid” talks is an “all-share...more
10/30/2019
/ AIG ,
Airplane Accidents ,
Algorithmic Trading ,
Automotive Industry ,
Boeing ,
Chicago Mercantile Exchange (CME) ,
Chrysler ,
Coal Industry ,
Commercial Bankruptcy ,
Compensation & Benefits ,
EU ,
Federal Reserve ,
Fiat ,
Financial Markets ,
FOMC ,
Futures ,
GDP ,
General Elections ,
Interest Rate Adjustments ,
Investigations ,
Investment Opportunities ,
Mercantile Industry ,
Murray Energy ,
Office Space ,
Peugeot ,
Popular ,
Retirement Plan ,
S&P ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Sharing Economy ,
Testimony ,
Trump Administration ,
U.S. Commerce Department ,
UK ,
UK Brexit ,
UK Parliament
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
Senior negotiators from the U.S. and China will officially resume trade negotiations today, “with higher tariffs looming if [they] fail to break a five-month stalemate.” The U.S.’s moves this week to blacklist 28 Chinese tech...more
10/10/2019
/ Amazon Marketplace ,
Bed Bath & Beyond ,
CEOs ,
China ,
Conflicts of Interest ,
Cryptocurrency ,
Digital Currency ,
Economic Downturn ,
Exports ,
Facebook ,
Federal Reserve ,
Fidelity Investments ,
Financial Services Committee ,
Government Investigations ,
Imports ,
Internal Controls ,
Internet Streaming ,
Investment Opportunities ,
Johnson & Johnson ,
Mesothelioma ,
Netflix ,
Pensions ,
Plan Administrators ,
Private Equity ,
Public Pension ,
Securities and Exchange Commission (SEC) ,
Supply Chain ,
Target ,
Tariffs ,
Teachers ,
Trade Relations ,
Trade Retaliation ,
Trade Wars ,
Trading Platforms ,
Trump Administration ,
US Trade Policies
Prorogate this, Boris. In an “unprecedented” ruling, the UK’s supreme court deemed the Prime Minister’s Brexit-driven suspension of Parliament “unlawful, void and of no effect” this morning and called on the body to reconvene...more
9/24/2019
/ Apple ,
AT&T ,
Automotive Industry ,
Carbon Emissions ,
Computer Software Workers ,
Conflicts of Interest ,
Criminal Conspiracy ,
Criminal Convictions ,
Criminal Investigations ,
E-Cigarettes ,
HBO ,
Imports ,
Insider Trading ,
Investigations ,
Investment Banks ,
Japan ,
JPMorgan Chase ,
Laptop Computers ,
Manufacturing Facilities ,
Nissan ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Violations ,
Tariffs ,
Trade Relations ,
Travel ,
UK Brexit ,
UK Parliament ,
UK Supreme Court ,
US Trade Policies ,
Volkswagen ,
White Collar Crimes
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
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
Google will pay a “record $170 million fine and make changes to protect children’s privacy on YouTube” as part of a deal it reached this week with the FTC and NY AG’s office, both of whom had accused YouTube of “violating the...more
9/5/2019
/ Aetna ,
CFTC ,
China ,
Clearing Agencies ,
Compliance ,
COPPA ,
CVS ,
Department of Justice (DOJ) ,
Disney ,
Economic Downturn ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Goldman Sachs ,
Google ,
Health Insurance ,
Interest Rate Adjustments ,
No-Deal Brexit ,
Online Safety for Children ,
Regulatory Violations ,
Securities and Exchange Commission (SEC) ,
Star Wars ,
State Attorneys General ,
Stock Options ,
Tariffs ,
Trade Relations ,
Trade Wars ,
UK ,
US Trade Policies ,
Wells Fargo ,
YouTube
A recent report showing slowing US manufacturing activity and a sliding 10-year Treasury note yield is only making Chair Powell’s balancing act that much tougher....more
8/26/2019
/ Deutsche Bank ,
Economic Downturn ,
Enforcement Actions ,
Federal Reserve ,
Foreign Corrupt Practices Act (FCPA) ,
Hasbro ,
Hewlett-Packard ,
Hiring & Firing ,
Manufacturers ,
Overstock.com ,
Regulatory Violations ,
Relatives of Public Officials ,
Resignation ,
Robocalling ,
Securities and Exchange Commission (SEC) ,
State Attorneys General ,
Telecommunications ,
Treasury Markets
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
A survey of the country’s most powerful CEOs by the Business Roundtable shows an interesting shift in how they view their top priority—no longer does advancing the interests of shareholders take the top spot. Instead, the...more
8/20/2019
/ Airports ,
Antitrust Investigations ,
Big Tech ,
China ,
Disney ,
Economic Downturn ,
FDIC ,
Federal Reserve ,
Financial Markets ,
Financial Regulatory Reform ,
Financial Statements ,
General Electric ,
Huawei ,
Interest Rate Adjustments ,
Lyft ,
OCC ,
Overstatement of Basis ,
Payroll Taxes ,
Regulatory Agenda ,
Revenue Growth ,
Ridesharing ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Transportation Industry ,
Trump Administration ,
Uber ,
Volcker Rule ,
Wall Street ,
Whistleblowers
The White House is reportedly extending the temporary license for some US businesses to work with Huawei, a move that would likely help smooth the way for trade negotiators between the US and China to see their way back to...more
8/19/2019
/ Banks ,
CFTC ,
China ,
Citibank ,
Commodities ,
Economic Downturn ,
EU ,
Financial Markets ,
Food Manufacturers ,
Foreign Adversaries ,
Germany ,
Huawei ,
Kraft ,
Motion for Sanctions ,
Price Manipulation ,
Quarterly Report ,
Recessions ,
Ridesharing ,
RMBS ,
S&P ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Settlement ,
SoftBank ,
Supply Chain ,
Telecommunications ,
Temporary Licenses ,
Trade Negotiations ,
Trade Wars ,
Trump Administration ,
Uber ,
Venture Capital
A volatile August on Wall Street has insiders asking whether we should be taking our cues from 1998 or 2007.
With that in mind, our financial term of the week is “countercyclical capital buffer,” a wonkish special for you...more
8/13/2019
/ Amazon Marketplace ,
Antitrust Investigations ,
Automotive Industry ,
Big Tech ,
Bonds ,
Brick-and-Mortar Stores ,
Capital Requirements ,
CBS ,
China ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Data Breach ,
Deregulation ,
Donald Trump ,
Economic Downturn ,
Educational Institutions ,
Electric Vehicles ,
Embedded Tweets ,
ETFs ,
Federal Reserve ,
Financial Markets ,
Financial Regulatory Reform ,
General Motors ,
Oil & Gas ,
Predatory Lending ,
Regulatory Oversight ,
Retail Market ,
Securities and Exchange Commission (SEC) ,
Silicon Valley ,
Social Networks ,
Student Loans ,
Tariffs ,
Tumblr ,
Verizon ,
Viacom ,
Volcker Rule ,
Volkswagen ,
Wall Street
Facebook and the FTC have agreed to terms on a settlement addressing the social network’s privacy violations in recent years. Along with the previously reported $5 billion fine, the deal will require Facebook to “add new...more
7/25/2019
/ Amazon Marketplace ,
Antitrust Investigations ,
Antitrust Violations ,
Aviation Industry ,
Big Tech ,
Boeing ,
Cybersecurity ,
Enforcement Actions ,
Facebook ,
Federal Trade Commission (FTC) ,
Financial Services Committee ,
Hiring & Firing ,
Layoffs ,
Mark Zuckerberg ,
Municipal Bonds ,
Nissan ,
Personal Data ,
Retail Market ,
Securities and Exchange Commission (SEC) ,
SoftBank ,
SunTrust ,
Tesla
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
The big takeaway from Day 1 of Fed Chair Powell’s Congressional testimony is that a July rate cut is still definitely on the table, despite last week’s strong US jobs numbers. As the Times puts it, “That the Fed is...more
7/11/2019
/ 1MDB ,
Anti-Money Laundering ,
Bitcoin ,
Capital Raising ,
Corruption ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Digital Currency ,
Facebook ,
Federal Reserve ,
Financial Markets ,
France ,
Goldman Sachs ,
Huawei ,
Illegal Tipping ,
Initial Coin Offering (ICOs) ,
Insider Trading ,
Interest Rate Adjustments ,
Regulation A ,
S&P ,
Securities and Exchange Commission (SEC) ,
Sexual Assault ,
Supply Chain ,
Tariffs ,
Telecommunications ,
Trade Retaliation ,
Trade Wars ,
Trump Administration ,
UNESCO ,
Unfair Trade Practices Act ,
White Collar Crimes
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
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