Your Daily Dose of Financial News

2.2_iStock_5558188_BW
image_pdf

Mylan will pay $465 million to federal authorities to resolve claims that it overcharged the Medicaid program by millions for its EpiPen products. Though large, the figure represents about a third of the estimated overpayments Medicaid made for the EpiPen during the ten-year-period ending in 2016 – WSJ

I snuck this into an Alibaba hyperlink yesterday, but it’s worth an independent mention: a recent rise in market cap for Chinese tech giants Tencent and Alibaba means that the ranks of tech behemoths is no longer strictly an American affair.  Indeed, both Tencent and Alibaba eclipsed the $400 billion valuation mark this week and—as importantly—they’ve begun influencing moves by their American rivals – NYTimes and WSJ

Law360 analysis considers how this week’s insider-trading charges against a former BofA employee and six associates is emblematic of the current state of insider-trading affairs—a field made more challenging by the 2d Circuit’s Newman decision but also benefiting from powerful new SEC data analysis tools – Law360

Breakingviews isn’t so impressed with Elliott Mgmt’s bid to disrupt Berkshire’s move on Energy Future Holdings – NYTimes

Government review of the $85 billion AT&T takeover of Time Warner has reportedly reached an “advanced stage,” despite a vacant top spot in the DOJ’s antitrust division. Markets appear to be increasingly optimistic about the deal’s chances for success – WSJ

A look at why yesterday’s S&P drop wasn’t just about current world events – Bloomberg

Extradited “cartel” forex traders accused of conspiring to fix the foreign currency exchange spot market are pushing the Court to order federal prosecutors to identify more detail in their indictment – Law360

Three US pension funds are suing Bana, CreditSuisse, Goldman Sachs, JPMorgan, Morgan Stanley, and UBS over their alleged conspiracy to block competition in the stock-lending market since 2009 – WSJ

You don’t need to watch HGTV religiously to know that open floor plans remain all the rage. But like all ubiquitous trends, a backlash is creeping up in the form of the rise of getaway spaces [think (mom-)(dad-)(kid-)caves] – WSJ

Berlin’s efforts to get spongy help reveal an urban climate-change strategy for the future – Bloomberg

Have a good weekend,

Follow me on Twitter: @reifmd