Tag Archives: AIG

Financial Daily Dose 7.29.2020 | Top Story: Tech Titans to Testify About Antitrust Concerns Today

BY: Michael D. Reif | July 29, 2020

Much more on what to expect from Big Tech’s “Big Tobacco Moment” on the Hill today, at which Google, Amazon, Facebook, and Apple’s CEOs will endeavor to make the case that their massive companies don’t “stifle[] rivals and harm[] consumers” – NYTimes and WSJ and Bloomberg and MarketWatch An extra challenge for Apple’s Tim Cook, … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | January 23, 2018

It was a Monday of dealmaking, with insurance giant AIG announcing a $5.56 billion agreement to acquire Bermuda-based Validus Holdings [WSJ and Bloomberg]; biotech biggie Celgene Corp. agreeing to buy Juno Therapeutics for roughly $9 billion in a move to expand its blood-cancer drugs [WSJ and Bloomberg]; Bacardi paying the “premium price” of $5.1 billion … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | September 22, 2017

Uber’s got more than a spot of bother on its hands in London after this morning’s announcement that the company’s largest market in Europe won’t renew the ride-hailing service’s license to operate in the city (citing “a lack of corporate responsibility . . . which have potential public safety and security implications) – NYTimes and … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | May 10, 2017

The Times gives us some insight into the opaque (but powerful) HNA Group—the Chinese entity that began with Hainan Airlines and has grown into a global investing and acquisition powerhouse that is now the largest shareholder of Deutsche Bank – NYTimes Bitcoin may have missed on the ETF scene, but it’s been a heck of … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 13, 2017

There’s a Fed/White House battle a-brewin’, and this Wednesday’s expected Fed move to raise rates could be a shot across the bow – NYTimes That move and another Brexit milestone are likely to impact markets this week – WSJ Another tech-related disappointment for the Winklevii, this time with ramifications for an entire means of payment, … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 10, 2017

Jobs report Friday!  Here’s what the papers told us to watch – WSJ and NYTimes AIG’s CEO Peter Hancock is officially out [in rather dramatic fashion] after a brutal Q4 that was viewed as emblematic of his failed turnaround efforts – NYTimes and WSJ and Bloomberg There’s been a bit of a stir in the … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | February 28, 2017

Samsung’s Lee Jae-yong has been indicted on bribery charges, about 10 days after he was taken into custody for the second time in a month over a corruption scandal that helped take down South Korea’s president – WSJ A collection of corporate heavy hitters are betting big on the blockchain technology behind bitcoin rival Ethereum to … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | February 13, 2017

Former AIG chief Hank Greenberg and his co-defendant, AIG’s former CFO, reached an “unexpected” settlement last week with NY officials. The duo will fork over about $10 million in bonuses payments and admit that they participated in transactions that inaccurately portrayed AIG’s financial results, but neither admitted to fraud – NYTimes and WSJ and Law360 … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | September 29, 2016

OPEC has reached a tentative deal among its 14 member nations to “modestly cut” their oil output toward the end of the year in an effort to shore up sagging oil prices–an announcement that immediately sent global oil prices up 5% – NYTimes and WSJ and Bloomberg California’s Treasurer has taken the “unusual step” of suspending many … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | September 28, 2016

It wasn’t exactly a direct reaction to his testimony on the Hill, but Wells Fargo CEO John Stumpf didn’t do himself any favors there, and Wells Fargo’s Board has announced that it will claw back an estimated $41 million in compensation from [still-CEO] Stumpf – NYTimes and WSJ and Bloomberg and Law360 What’s next for … Continue reading