Tag Archives: TPP

Your Daily Dose of Financial News

BY: Michael D. Reif | April 13, 2018

In what can only be deemed a major reversal, the White House has reportedly ordered its economic adviser and trade representative to study rejoining the Trans Pacific Partnership, just a year after yanking the US out of deal negotiations – WSJ and Bloomberg and NYTimes Victims of Ponzi schemer Bernie Madoff are set to receive … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 9, 2018

Remarkably, it’s Jobs Report Friday again. Here’s what to look for in the numbers – NYTimes and WSJ and Bloomberg Some day-after reaction to Cigna’s big play for Express Scripts – WSJ and MarketWatch and Bloomberg No US? No big deal. At least when it comes to the once-and-future TPP pact, which Japan, Canada, Australia, … Continue reading

Your daily dose of financial news

BY: Michael D. Reif | January 26, 2016

Quick recap: another Monday, another rough start to a trading week in what’s turned into an ugly pattern for the year – WSJ Which, coupled with more pessimism about the Chinese economy, helped drive stocks down in Asia today, which set the ball rolling globally, which is sending Wall Street futures down . . . … Continue reading

Your daily dose of financial news

BY: Michael D. Reif | November 6, 2015

A federal jury in Manhattan yesterday deliberated for over 8 hours before returning a guilty verdict on conspiracy and wire fraud charges against former Rabobank personnel Anthony Allen and Anthony Conti for their role in rigging Libor. The duo will be sentenced in March and face significant prison time – Law360 and NYTimes and WSJ … Continue reading

Your Daily Dose of Financial News

The Consumer Financial Protection Bureau is considering a bold step that would prevent companies from including anti-class-action provisions in their arbitration clauses—a favored means of controlling litigation. The rules would reportedly stop short of an all-out ban but would allow consumers nevertheless to “band together to get relief when problems arise” – Law360 and NYTimes and WSJ

China [“unholy trinity” and all] is joining a group of emerging markets in reversing course and selling US Treasurys and a serious clip. Still, some of the very global uncertainty apparently driving those sales is helping keep yields low, a trend not expected to change until there’s stronger US economic growth and higher inflation – WSJ

In short honeymoon news, mere days after the ink dried, the TPP trade deal is taking heat from all directions. Though financial issues are not the TPP’s main thrust, some critics are worried that provisions potentially restricting capital controls and allowing firms to challenge national investor-state dispute rules could lead to dangerous financial deregulation. Meanwhile, others decried the apparent lack of enforceable rules on foreign currency manipulation – Law360.

Plus, there are a few other issues on the table with room for debate – NYTimes

Though technically just  shy of doubling down, Anheuser-Busch InBev has definitely sweetened the deal in its takeover bid for rival SABMiller, which rejected two earlier offers – NYTimes and WSJ

The UK’s Libor trials are marching on, with 6 former brokers following Tom Hayes into the hot seat over their role in allegedly manipulating the global benchmark interest rate – NYTimes

Continued reporting on the rise of nonbank lenders, particularly in the real estate/construction markets, as the largely regulation-driven retreat of traditional lenders from making some of the loans they once could. Who’s filling that void? Cash-rich insurance companies, debt funds, and niche companies focusing on specific assets—all of whom are proving willing to be flexible with their underwriting standards and risk tolerance – Law360

PE firm Lone Star and its Caliber mortgage unit, they of the recent Times’ front-pager on foreclosure and loan modification practices, are receiving more unwanted attention these days, as NY AG Eric Schneiderman has announced an investigation into Caliber’s business practices – NYTimes

Want to take in oral argument at the highest court in the land?  You better be ready to stand in line your own damn self – WSJ

It’s been just a week of wins, but Jeopardy’s pushing big Matty Jackson (Boom!) as its next big thing – Huffington Post

 

MDR

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Your Daily Dose of Financial News

BY: Michael D. Reif | October 5, 2015

After years of diplomatic and political wrangling, both at home and abroad, the US and eleven Pacific Rim nations have finalized the details of the Trans-Pacific Partnership—a potentially “precedent-setting model for global commerce and worker standards that would tie together 40 percent of the world’s economy.” The deal, aided by  the President’s fast track trade … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | June 15, 2015

The results of midsize banks’ self-administered stress tests will start emerging today, with some industry experts speculating that the results could lead to changes in the regulatory burden on smaller financial institutions – Law360 The TPP deal—arguably the centerpiece of President Obama’s much-discussed but oft-interrupted “pivot to Asia”—is not facing smooth sailing these days.  To … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | June 10, 2015

Bond yields hit their highest marks across the globe today, as the selloff that began in April continues – WSJ The DOJ is adding another $22.4 million to its Swiss bank/tax evasion recovery fund after Societe Generale and Berner Kantonalbank joined the voluntary-disclosure party in order to escape potential criminal charges – Law360 Bloomberg charts … Continue reading