When former top government officials become white-collar defense lawyers, they still wield influence when they weigh in on enforcement matters, Jesse Eisinger writes in The Trade column.Read more…
States Ease Interest Rate Laws That Protected Poor Borrowers
By Michael CorkeryLawmakers in several states have voted to increase the fees or the interest rates that lenders can charge on personal loans used by millions of poor or financially struggling borrowers. Read more…
Amgen’s Boss Makes a Prime Breakup Target for Loeb
The idea of a corporate split comes up often in the drug industry but rarely happens. But Amgen’s drug focus and the banker background of its C.E.O. give the notion a chance, Robert Cyran of Reuters Breakingviews writes. Read more…
Morning Agenda: Push to Bolster Banks’ Cyberdefenses
Federal authorities are stepping up efforts to fortify big banks against cyberattacks. | States are easing laws that helped poor borrowers. | Google places a big bet on augmented reality. | Amgen is under pressure to break up. Read more…
Daimler Expects $780 Million Gain on Sale of Tesla Motors Stake
The German automaker Daimler, which first took a stake in Tesla in 2009, said it would continue its joint development projects with the company, which makes electric cars. Read more…
BGC Partners Starts $675 Million Hostile Bid for GFI Group
BGC is trying to wrest the New York brokerage and clearing firm from CME Group, which operates the Chicago Mercantile Exchange, the Chicago Board of Trade and the New York Mercantile Exchange. Read more…
U.S. Regulators Approve Eased Mortgage Lending Rules
The new regulations aim to strengthen the vast market for bonds that are backed with mortgages and other loans. Read more…
Advisory Firm Glass Lewis Opposes Chiquita-Fyffes Deal
The recommendation from Glass Lewis came a day after Chiquita won the support of another proxy advisory firm, Institutional Shareholder Services, for Chiquita’s plan to buy Fyffes and reincorporate abroad. Read more…
After JPMorgan Chase Breach, Push to Close Wall St. Security Gaps
Regulators are said to be discussing how to improve a critical area of cybersecurity: outside vendors, including law, accounting and marketing firms and even janitorial companies. Read more…
Bloomberg Hires Joseph Weisenthal, Business Insider’s Executive Editor |
Joseph Weisenthal, the executive editor of the finance and technology news site Business Insider, will join the Bloomberg Media Group to build a markets and finance news site and host a television show on the topic, reports Ravi Somaiya of The New York Times. Read more »
Google Invests Heavily in Magic Leap’s Effort to Blend Illusion and Reality
Google is leading a $542 million investment in a little-known firm called Magic Leap, in an investment that is said to value the start-up at about $2 billion. Read more…
Third Point, Loeb’s Hedge Fund, Urges Amgen to Consider a Breakup
The hedge fund suggested that the drug maker should consider splitting itself up into a faster-growing entity whose products require research spending and a slower-growing company with more mature products. Read more…
Market Volatility Merely a Symptom of Larger Issues
Recent worries about the global economy, including monetary policy, geopolitics and Ebola, have exposed the fragility of some widely held assumptions, Rob Cox of Reuters Breakingviews writes. Read more…
4 Banks, Including JPMorgan, Fined in Europe Over ‘Cartel’ Behavior
The European Commission fined several global financial institutions a total of about $120 million over two types of activity that it deemed cartel behavior. Read more…
Brazil’s First I.P.O. for 2014 Ends First Day Up Slightly
A veterinary medicine company, Ouro Fino Saúde Animal Participações, made its debut on Tuesday amid a weak economy and political uncertainty in Brazil. Read more…