Tag Archives: Brexit

Financial Daily Dose 10.30.2019 | Top Story: Fiat Chrysler and Peugeot in Merger Talks

BY: Michael D. Reif | October 30, 2019

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 merger of equals” – WSJ and Bloomberg and NYTimes The FOMC wraps up its October rate-setting meeting this afternoon. … Continue reading

Financial Daily Dose 10.29.2019 | Top Story: AT&T Reaches Accord with Elliott Management to End Activist Challenge

BY: Michael D. Reif | October 29, 2019

AT&T announced yesterday that it’s resolved an ongoing battle with activist Paul Singer and his Elliott Management by agreeing to keep CEO Randall Stephenson on the job through “at least 2020,” with the chair and CEO roles to be split upon his departure. AT&T also revealed that it will shed up to $10 billion of … Continue reading

Financial Daily Dose 10.25.2019 | Top Story: ECB Holds Rates Steady as Draghi Departs

BY: Michael D. Reif | October 25, 2019

Mario Draghi presided over his final ECB meeting yesterday, with the central bank deciding to hold rates steady and let current stimulus measures play out for the time being. His departure (and the arrival of former IMF chief Christine Lagarde) coincides with a debate over his legacy at the bank—is he “savior of the Eurozone” … Continue reading

Financial Daily Dose 10.22.2019 | Top Story: WeWork Bailout Would Cost Company $39 billion in Valuation

BY: Michael D. Reif | October 22, 2019

SoftBank’s plan to help bail out WeWork would mean not only a takeover by Masa Son’s crew but also “would slash the co-working company’s valuation to about $8 billion”—a staggering drop of nearly $40 billion. The plan would alleviate WeWork’s cash crunch via a $5 billion loan and an offer to buy more than $1 … Continue reading

Financial Daily Dose 10.21.2019 | Top Story: Four Drug Companies Reach Last-minute Deal to Avoid Start of Federal Opioid Trial

BY: Michael D. Reif | October 21, 2019

A last-minute deal between defendants McKesson, Cardinal Health, AmerisourceBergen, and Teva and plaintiffs’ attorneys means that multidistrict opioid epidemic litigation set to kick off in Ohio federal court today will not feature them, though Walgreens could still see the courtroom today – WSJ In today’s “Don’t count your departures from coalitions of states before they … Continue reading

Financial Daily Dose 10.18.2019 | Top Story: Unpacking the UK/EU Brexit Deal and Its Rocky Road Ahead in Parliament

BY: Michael D. Reif | October 18, 2019

Details are trickling in on the tentative Brexit agreement reached between UK and EU negotiators this week, just 14 days ahead of the Halloween departure deadline.  A massive sticking point here remains the British parliament, in which PM Johnson does not, at this time, have the votes he needs to guarantee approval – NYTimes and … Continue reading

Financial Daily Dose 10.17.2019 | Top Story: GM and UAW Reach Tentative Deal to End Month-long Strike

BY: Michael D. Reif | October 17, 2019

Good news out of Detroit late yesterday, with officials from General Motors and the United Autoworkers Union striking a “tentative agreement on a new labor contract that could end the monthlong strike that has idled G.M. plants across the Midwest and the South.” The UAW’s local officials will meet this morning to vote on whether … Continue reading

Financial Daily Dose 10.16.2019 | Top Story: Drug Distributors and Maker in Talks for Multi-billion-dollar Opioid Litigation Settlement

BY: Michael D. Reif | October 16, 2019

A group of three major drug distributors—McKesson, AmerisourceBergen, and Cardinal Health—are in the midst of talks with representatives of state and local governments who have brought more than 2000 opioid-related lawsuits against them in hopes of reaching a global settlement for upwards of $18 billion. They’ve been recently joined by Johnson & Johnson, which has … Continue reading

Financial Daily Dose 10.8.2019 | Top Story: US blacklists 28 Chinese Tech Firms Even While Trade Talks Resume

BY: Michael D. Reif | October 8, 2019

The US has blacklisted 28 Chinese companies—mostly in the tech sector—over China’s “campaign targeting Uighurs and other predominantly Muslim minorities in the autonomous region of Xingjiang,” a move that’s drawn both criticism in China and also comes as the U.S. has actively sought to protect US tech giants in its various bilateral trade agreements – … Continue reading

Financial Daily Dose 9.24.2019 | Top Story: UK High Court Rules PM’s Suspension of Parliament Illegal

BY: Michael D. Reif | September 24, 2019

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 “as soon as possible” – Bloomberg and NYTimes and WSJ 178-year-old British travel company Thomas Cook went belly-up yesterday, stranding some … Continue reading