Tag Archives: UBS

Financial Daily Dose 11.11.2019 | Top Story: Twitter Screed Prompts Investigation of Apple Card Gender Discrimination

BY: Michael D. Reif | November 11, 2019

Here’s about as 2019 as we can get in the financial world (with a healthy dose of 1950s-era gender discrimination for good measure): a series of tweets from tech entrepreneur David Heinemeier Hansson alleging gender discrimination “in the new Apple Card’s algorithms when determining credit limits” has prompted attention from New York’s financial watchdog, which … 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 8.7.2019 | Top Story: Novartis Hid Altered Drug Test Data From FDA

BY: Michael D. Reif | August 7, 2019

A new report out Tuesday from the Food & Drug Administration reveals that drug maker Novartis “concealed manipulated data” from the agency “while applying for approval of an extremely expensive gene therapy treatment and then delayed reporting the issue.” Still, the FDA is keeping Zolgensma, the drug in question, on the market – NYTimes and … Continue reading

Financial Daily Dose 6.26.2019 | Top Story: US Tech Firms Find Ways to Resume Sales to Huawei

BY: Michael D. Reif | June 26, 2019

Some U.S. tech firms are finding ways to get around the White House’s Huawei no fly zone, with Micron, Qualcomm, and Intel leading the way – Bloomberg and NYTimes and WSJ Meanwhile, a more cautious Chinese consumer appears to be weakening President Xi’s hand as he prepares to talk trade with the U.S. on the … Continue reading

Financial Daily Dose 6.25.2019 | Top Story: Allergan and AbbVie Combine Forces in $63 Billion Deal

BY: Michael D. Reif | June 25, 2019

Massive pharma news to start the day, with AbbVie announcing that it’s reached a deal to buy Allergan for roughly $63 billion. The tie-up is seen as giving AbbVie a “dominant position in the $8 billion-plus market for Botox and other beauty drugs” is it “braces for the end of patent protection for the world’s … Continue reading

Financial Daily Dose 5.21.2019 | Top Story: FCC Approves T-Mobile/Sprint Merger

BY: Michael D. Reif | May 21, 2019

FCC Chair Ajit Pai gave his agency’s stamp of approval to the pending $26 billion T-Mobile/Sprint merger on Monday, helping move the deal towards completion based on pledges from the companies to develop “a robust 5G network and sell off Boost Mobile, a Sprint-owned service produce that sells prepaid services” – NYTimes and WSJ and … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | February 21, 2019

The Federal Reserve released the minutes from its consequential January meeting yesterday, giving us (and Wall Street) the skinny on its new policy course that shifted from gradual regular rate hikes to a wait-and-see approach.  The minutes show that at least “several” Fed officials anticipate re-initiating rate increases later in the year and that the … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | November 9, 2018

As widely expected, the Fed held rates steady when it wrapped its Open Market Committee meeting yesterday afternoon and deemed the economy “in good health,” laying the groundwork for another rate increase next month – NYTimes and WSJ and Bloomberg The DOJ has filed a complaint against the Swiss banking giant UBS over its “issuance, … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 22, 2018

To no one’s surprise, the Fed officially bumped interest rates up another quarter point and cited improved economic strength as the basis for forecasting a “steeper path of hikes in 2019 and 2020” – Bloomberg and NYTimes and WSJ and Marketplace Facebook CEO Mark Zuckerberg finally issued a statement yesterday addressing the unauthorized data use … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 21, 2017

White Collar Watch dates itself considerably with its Perry Mason allusion, but its bigger point is an interesting one–good luck finding a true “gotcha” moment when dealing with what are “quintessentially offenses of the mind” – NYTimes Valeant had a long turnaround road ahead with Pershing Square on board.  That road’s considerably more difficult now – … Continue reading