Your daily dose of financial news


As expected, the Fed kept interest rates at current levels and “once again pared its plans for raising interest rates, citing the weakness of the global economy as a reason for greater caution about the prospects for domestic growth.”  Current best bets for a rate hike are now focused on June – NYTimes and WSJ

Here’s how the markets reacted – WSJ

Don’t expect it to go anywhere, but another proposal by the activist organization Public Citizen asking shareholders of JPMorgan and Citigroup to consider breaking up the banks is gaining a little more public traction this time around, thanks in part to the Sanders candidacy for president and recent remarks by new Minneapolis Fed president Neel Kashkari – NYTimes

Reeling, perhaps, from the mega hit it’s taken on its Valeant stake, Bill Ackman’s Pershing Square Capital Management announced yesterday that it’s reducing the size of its Mondelez holdings. The fund sold 20 million shares (which are down 7% this year) but still has a 5.6% stake in the Kraft spinoff – NYTimes and WSJ

The LSE/Deutsche Börse deal discussed here yesterday is no guarantee, according to Breakingviews, and anticompetition concerns are only one stumbling block – NYTimes

Peabody Energy, the world’s largest coal company, which made news in recent months for its failure to disclose known climate change risks to investors and the public, warned in a securities filing this week that it may have to file for bankruptcy protection – NYTimes and WSJ and Bloomberg

House Republicans and CFPB Director Richard Cordray: no love lost there; no surprise – NYTimes and Law360

As fashion increasingly bleeds into activewear, Nike’s pushing beyond the playing field and onto the runway [and back to the future] – NYTimes


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