Tag Archives: Johnson & Johnson

Financial Daily Dose 2.7.2020 | Top Story: Credit Suisse CEO Tiam Out in Wake of Corporate Spying Scandal

BY: Michael D. Reif | February 7, 2020

Credit Suisse’s CEO Tidjane Thiam is out, to be succeeded next week by longtime company vet Thomas Gottstein. Thaim appeared to have ridden out the corporate spying scandal involving a former employee last year, and he had delivered relatively solid results as the Swiss bank moved away from investment banking and more into wealth management. … Continue reading

Financial Daily Dose 1.31.2020 | Top Story: IBM CEO Ginni Rometty is Out After Eight Years at the Helm

BY: Michael D. Reif | January 31, 2020

In a week that’s already seen plenty of C-suite shakeups, we’ve learned that Ginni Rometty is stepping down from her role as CEO at IBM. The company’s cloud computing chief, Arvind Krishna, will take over for her, though Rometty will stay on as executive board chair until the end of the year – NYTimes and … 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 10.10.2019 | Top Story: US/China Trade Talks Resume Even as Tensions Grow

BY: Michael D. Reif | October 10, 2019

Senior negotiators from the U.S. and China will officially resume trade negotiations today, “with higher tariffs looming if [they] fail to break a five-month stalemate.” The U.S.’s moves this week to blacklist 28 Chinese tech companies and suspend some visas over China’s treatment of Muslim minorities is only complicating the high-stakes talks. New discussion of … Continue reading

Financial Daily Dose 10.9.2019 | Top Story: Chair Powell says Fed will Expand its Treasury Securities Holdings

BY: Michael D. Reif | October 9, 2019

Fed Chair Powell, speaking at an economics conference in Denver yesterday, made news by indicating that the central bank would “once again begin expanding its portfolio of government-backed securities”—a shift in policy hastened by recent repo market shortages requiring Fed intervention – NYTimes and WSJ and Bloomberg and MarketWatch and Law360 A Philly jury has … Continue reading

Financial Daily Dose 10.2.2019 | Top Story: Johnson & Johnson Pays Out $20 Million to Avoid First Opioid Trial

BY: Michael D. Reif | October 2, 2019

Johnson & Johnson doled out $20 million to two Ohio counties rather than go through with its first federal opioid-related trial. The money is rather small potatoes for J&J, but it marks the “first time . . . the world’s largest maker of healthcare products agreed to settle an opioid-related lawsuit” – Bloomberg and Law360 … Continue reading

Financial Daily Dose 10.1.2019 | Top Story: Credit Suisse COO Resigns in Wake of Corporate Spying Scandal

BY: Michael D. Reif | October 1, 2019

Top Tidjane Thiam ally Pierre-Olivier Bouee, Credit Suisse’s COO, has resigned in the wake of an internal probe finding that he “ordered the surveillance of the bank’s former wealth-management chief, Iqbal Khan, without discussing it with Mr. Thiam or other senior bank officials.” Khan left Credit Suisse to join rival UBS Group today – WSJ … Continue reading

Financial Daily Dose 8.28.2019 | Top Story: British PM to Suspend Parliament in Bid to Push Through Brexit

BY: Michael D. Reif | August 28, 2019

Man-of-the-people PM Boris Johnson is set to as the Queen to suspend parliament for 5 weeks in an attempt to squeeze the time for opposition to the October 31st Brexit deadline, a move that’s prompting concerns about a constitutional crisis in the UK – Bloomberg and NYTimes and WSJ and MarketWatch Mega-reunification news late yesterday, … Continue reading

Financial Daily Dose 8.27.2019 | Top Story: OK Judge Hits Johnson & Johnson With $572 Million Fine in Opioid Trial

BY: Michael D. Reif | August 27, 2019

A bad day for J&J in Oklahoma at the close of the state’s trial against Johnson & Johnson means that the company’s on the hook for upwards of $572 million for its role in the opioid crisis that’s decimated swaths of the state. The trial was the first against an opioid manufacturer and bodes ill … Continue reading