Strong investor demand for CVS Health’s U.S. $40 billion M&A bond gave a shot of confidence to the U.S. high-grade bond market Tuesday after a recent bout of volatility in the usually rock solid asset class. Order books of more than $120 billion for the nine-tranche trade — the third […]
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Talk of a trade war ignites uncertainty and is against the interest of the US, Fed officials said
Global worries over an emerging “trade war” pose an uncertainty for the Federal Reserve, officials said Wednesday. The threat to apply punitive tariffs on steel and aluminum imports pose an uncertainty for the Fed, Fed Governor Lael Brainard, among the most influential U.S. central bankers, said when asked at a […]
Mavericks owner Mark Cuban denies 2011 sex assault allegation
Dallas Mavericks owner Mark Cuban is denying a 2011 allegation of sexual assault after a weekly alternative newspaper in Oregon published details of a case that prosecutors didn’t pursue, saying they didn’t believe there was evidence to support the claim. The report in the Willamette Week in Portland, Oregon, came […]
US Justice Department sues California over its ‘sanctuary’ laws
The U.S. Justice Department sued the state of California over so-called “sanctuary” policies that try to protect illegal immigrants against deportation, ramping up a confrontation over whether local police should enforce federal law. The lawsuit, filed late Tuesday in federal court in Sacramento, the California state capital, takes aim at […]
Female-led investor group scraps deal for Weinstein assets
The female-led investor group that had agreed to buy The Weinstein Company’s assets pulled its offer on Tuesday, and lead investor Maria Contreras-Sweet said the decision was made after the group “received disappointing information.” Two sources familiar with the matter told Reuters that the investor group pulled the offer after […]
IMF’s Lagarde says nobody wins in a trade war
The International Monetary Fund‘s (IMF) Managing Director Christine Lagarde has warned a global trade war would create a lose-lose situation for everyone, amid an escalating war of words between the U.S. and several of its trading partners. Speaking to French radio station RTL on Wednesday, Lagarde said: “The macro-economic impact […]
Cryptocurrencies like bitcoin are commodities, US judge rules
Virtual currencies like bitcoin can be regulated as commodities by the U.S. Commodity Futures Trading Commission, a federal judge ruled Tuesday. U.S. District Judge Jack Weinstein in Brooklyn ruled that the CFTC had standing to bring a fraud lawsuit against New York resident Patrick McDonnell and his company Coin Drop […]
Saudi Arabia’s crown prince gets the royal treatment for UK state visit
The U.K. is bending over backwards to welcome Saudi Arabia’s crown prince as he starts a three-day state visit aimed at deepening economic ties between the two countries. Banners promoting Saudi-U.K. links have appeared in London, where Crown Prince Mohammed bin Salman, or MBS as he is known, arrived on […]
Ex-Obama advisor Goolsbee wouldn’t fill Cohn’s shoes ‘if it was the last job on Earth’
U.S president Donald Trump asserted on Tuesday that “everybody wants to work in the White House.” But outgoing National Economic Council Director Gary Cohn doesn’t, and neither does Austan Goolsbee, Barack Obama’s former economic advisor. Speaking to CNBC on Wednesday, Goolsbee said he wouldn’t take Cohn’s position “if it was […]
The world’s ultra-rich are investing more in cryptocurrencies — even if they may not understand it
Cryptocurrencies have attracted investments from the ultra-rich around the world even though they may lack sufficient understanding of the technology behind the asset class. Around 21 percent of respondents in an annual survey of wealth advisers and private bankers said their clients increased investments in cryptocurrencies in 2017, according to […]