Your Daily Dose of Financial News

Demolition of an old house

The European Union has fined Mastercard $650 million for “breaching antitrust rules by raising payment-processing fees artificially, leading to higher prices for retailers and consumers” alike. The penalty came after a 6-year investigation by the EU’s antitrust watchdogs – NYTimes and Law360

The Journal has uncovered a push by employers to artificially inflate their Glassdoor company ratings by “enlist[ing] employees likely to post positive reviews” in order to sway opinion in the company’s favor—all part of an increasingly brave new world in which online ratings platforms are struggling to ensure that their “rankings are real” – WSJ

Most Huawei-centered news these days shows the company reeling from yet another body blow from a foreign government concerned about its association with Chinese espionage. It’s hard to stress what a far cry that is from the careful image the company had been cultivating, especially in Europe, for years thanks to lobbying, investments, and promises of jobs – NYTimes

The Danske Bank AML scandal has officially spread south, with the Fed opening a probe into how Deutsche Bank “handled billions of dollars in suspicious transactions from Denmark’s ‘leading lender . . . further intensifying what could be one of the biggest money-laundering scandals ever” – Bloomberg

More signs of the now-month-plus-long partial government shutdown’s wide-ranging repercussions: forex traders reporting that they’re “flying blind” after operating on month-old (rather than days-old) positioning data from the CFTC – Bloomberg

Activist hedge funds Elliott Management and Starboard Value are both pushing EBay to shed its StubHub ticketing and classified-ads businesses – WSJ

Walgreens will pony up nearly $270 million to resolve two civil lawsuits accusing it of defrauding federally funded health-care programs over insulin drugs and a discount program via improper billing practices – Bloomberg

US home sales dropped to their lowest figure in three years in December, thanks, in part, to what one economist is calling a “mental recession” – WSJ

Just a reminder that the IoT often comes with a whole bunch of unexpected “things” to worry about in your newly “smart” home – NYTimes

An updated list of must-haves for a modern cook’s pantry? Yes, please and thank you – NYTimes


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