Financial Daily Dose 11.26.2019 | Top Story: Viagogo buys ticket reseller from StubHub for $4 billion

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The merger craze keeps on keeping on, with news that Ebay’s selling secondary ticket marketplace StubHub to Viagogo, a smaller rival with a strong presence in Europe helmed by StubHub’s co-founder Eric Baker, for more than $4 billion – NYTimes and WSJ and CNN

As US retailers anxiously await the official kickoff to this year’s holiday shopping season, the Times asks what—if anything—they can do to fend off the disruptive power of Amazon, especially as they struggle to keep up their traditional brick-and-mortar locations while offering an online presence as well – NYTimes

Those Amazon concerns, by the way, extend beyond traditional department stores and physical retailers – Bloomberg

GE CEO Larry Culp has tapped another outsider—Maersk’s CFO Carolina Dybeck Happe—to join his turnaround efforts at the American conglomerate. Happe had been at the Danish shipping giant for less than a year after spending some 16 years at Swedish lock company Assa Abloy – WSJ

The Bank of England has delivered a $56 million fine against Citigroup over “regulatory failings” between 2014 and 2018, including issues in the bank’s internal controls and governance – Law360 and Bloomberg

The WeWork debacle is prompting some on Wall Street to demand a closer look at the accounting practices that Masa Son’s employing to boost the valuation of the many startups that his Vision Fund has graced with its cash – Bloomberg

More information on what’s at stake for Uber after London moved to yank its license to operate in one of the company’s biggest markets – NYTimes and WSJ and Bloomberg

Google has fired four employees over alleged data-security policy violations, “escalating tension between management and activist workers at a company once revered for its open corporate culture.” At least one Googler has accused the company of terminating the four in an effort to “stamp out internal dissension” – Bloomberg

Federal prosecutors have charged former Outcome Health execs, including former CEO Rishi Shah and ex-president Shradha Agarwal, with “multiple counts of mail and wire fraud and one count of bank fraud” over allegations that they “falsely reported data to defraud the company’s clients as well as investors.” A Journal report in 2017 that the company misled customers with “inflated data and fake reports” helped launch the criminal probe – WSJ and Law360

Activist investor Starboard Value LP has taken a stake in CVS Health Corp. and already “held talks with the drugstore-and-insurance giant’s management.” The stake is reportedly on the small end, but the company’s clearly paying attention – WSJ and Bloomberg

Hard to believe, but we’re rapidly approaching the end of the 2010s, and some have already begun trying to make sense of it all. The Times starts us off with 33 ways to remember the past decade – NYTimes

That’s it for us this week.  Have a wonderful Thanksgiving holiday.


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