Your Daily Dose of Financial News

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Wall Street’s brutal December continued yesterday, with stocks diving to a new low “as investors braced for a Federal Reserve decision on interest rates this week and health care stocks were roiled by a decision about the Affordable Care Act.” The S&P 500, for one, is down 4.8% for the year – NYTimes and WSJ and Bloomberg and MarketWatch

Of course, deep losses for some mean great opportunities for others – WSJ

Even as still others are talking about (and defining) recession – NYTimes

Google is expanding its New York footprint in the form of a billion-dollar West Village campus, including a 1.7 million-square-foot hub in the St. John Terminal in Manhattan – NYTimes and MarketWatch

CBS has completed its investigation of former chair and CEO Les Moonves and concluded that it may terminate him for cause, meaning that it need not pay him his $120 million severance package – Bloomberg and MarketWatch and NYTimes and Law360

US regulators have reached a deal with UBS Group AG in which the bank will pay $15 million over “regulatory deficiencies in its anti-money-laundering program,” including failing to monitor certain transactions or to put in place a reasonable system for years despite repeated red flags – WSJ and Law360

T-Mobile and Sprint are a step closer to final approval of their $26.5 billion merger after the US’s Committee on Foreign Investment gave a nod in the deal’s favor – NYTimes

Credit Suisse will enjoy the pleasure of an Alabama venue for the federal lawsuit accusing it of “misrepresenting the value of certain short-term notes during a critical time of steep price drops” after Judge Abdul Kallon denied the bank’s motion to transfer the inverse VIX action to SDNY – Law360

Those often-generous stock grants that for years Silicon Valley has been dishing out like candy as a form of compensation that “often helps employees feel invested in their companies” is coming home to roost in an interesting way: some employees at major tech outfits have started using their shares to leverage power in the form of shareholder proposals usually favored by activist investors – NYTimes

BNY Mellon will pay $54 million to resolve SEC allegations that it “improperly handled thousands of ‘pre-released’ American depositary receipts [or ADRs] in violation of the Securities Act of 1933” – Law360

Some of Elon Musk’s longtime backers are expressing concern about the use of SpaceX resources in his Boring Co. tunnel-digging venture, especially when the decision to divert such resources was made without SpaceX board approval. The Journal catches us up on the latest Musk intrigue – WSJ

Hard to believe, but Love Actually turns 15 this year. And though it’s not without its haters, for many, the Richard Curtis’ film is something of a holiday masterpiece. Which means that a good lot of you will appreciate this sit-down with the movie’s script editor to answer fans’ top lingering questions – New.com.au

MDR

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