Tag Archives: Broadcom

Financial Daily Dose 1.24.2020 | Top Story: OCC Hits Former Wells Fargo Execs With Enforcement Actions Over Sham-account Scandal

BY: Michael D. Reif | January 24, 2020

The OCC announced yesterday that it’s bringing enforcement actions against five former Wells Fargo bank executives as part of their alleged roles in the bank’s sales practices scandal. The agency further revealed that it’s already settled with three additional execs, including former CEO John Stumpf, who will pay $17.5 million and lose access to the … Continue reading

Financial Daily Dose 12.19.2019 | Top Story: Uber Settles With EEOC Over “Culture of Sexual Harassment” Allegations

BY: Michael D. Reif | December 19, 2019

So . . . financial news.  Amiright? Ride-hailing company Uber has resolved EEOC charges related to its alleged “culture of sexual harassment” and will “start a $4.4 million class fund to compensate victims of sexual harassment or retaliation from as early as Jan. 1, 2014” – WSJ and MarketWatch and Law360 and NYTimes A hacked … 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 8.8.2019 | Top Story: L Brands CEO Claims Epstein Misappropriated “Vast Sums”

BY: Michael D. Reif | August 8, 2019

Les Wexner, the billionaire CEO of Victoria’s Secret and Bath & Body Works parent company L Brands, has accused his former money manager and confidant, Jeffrey Epstein, of misappropriating “vast sums of money” from Wexner and his family. Wexner claims he first learned of the wrongdoing in 2007 – NYTimes and WSJ and Bloomberg China … Continue reading

Financial Daily Dose 7.16.2019 | Top Story: Regulators Raise National Security Concerns About Facebook’s Libra Crypto

BY: Michael D. Reif | July 16, 2019

Treasury Secretary Steven Mnuchin is the latest prominent government official to express concerns about Facebook’s coming Libra launch. Speaking at a briefing yesterday, Mnuchin focused on national security issues related to the planned cryptocurrency – WSJ and Bloomberg and Law360 Facebook will have a chance to address those (and many other) matters during Senate Banking … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | July 12, 2018

Stocks didn’t love the latest on the Trade War front yesterday.  And oil wasn’t helping the cause, either – Bloomberg and NYTimes and WSJ The latest round of US-announced tariffs seems also to have brought US trade talks with China to a grinding halt – Bloomberg Comcast wasted little time in countering Rupert Murdoch’s recent … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 14, 2018

Breakingviews on what the White House’s intervention into Broadcom’s [dropped] bid for Qualcomm could mean for the US-based chip maker.  [Hint, it involves China, and it’s not great for the big Q] – NYTimes [and WSJ] Also, some thoughts on Huawei’s role in all of this – Bloomberg As impressive as a $7 billion valuation … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 8, 2018

Heath insurance behemoth Cigna has agreed to buy Express Scripts—a “pharmacy benefits manger”—for $67 billion in cash and stock, including assuming $15 billion of its debt.  The merger is one of a series of big moves in the industry lately that’s seen as an effort to preemptively defend against Amazon’s move into the healthcare field … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | February 5, 2018

Your Day After edition of the Daily Dose, right from the heart of the madness here in downtown Minneapolis . . . A look at the big-time Wells Fargo/Fed settlement of last Friday night, which saw the Fed blasting the bank’s board for oversight failures, forcing Wells to replace a full fourth of its 16-member … Continue reading