Matt Levine’s Money Stuff: Warren Buffett Is an Average Employee
published Mar 19, 2018, 9:14:51 AM, by Matt Levine (Bloomberg View) — Pay ratios. Ahahaha sure: Berkshire Hathaway Inc.’s Warren Buffett is scoring particularly well on a new rule requiring companies to disclose the ratio of a chief executive officer’s pay to that of the median employee. His annual compensation
States Open Probes Into Election Firm’s Facebook Data Use
published Mar 19, 2018, 4:48:31 PM, by Erik Larson (Bloomberg) — Connecticut opened an inquiry into how the personal information of millions of Facebook Inc. users came into the possession of U.K.-based Cambridge Analytica, the sophisticated data analytics firm that helped President Donald Trump win the 2016 election. Reports that
Corporate America Warns Trump Against Broad-Based China Tariffs
published Mar 19, 2018, 5:24:53 PM, by Andrew Mayeda (Bloomberg) — U.S. companies from Walmart Inc. to Amazon.com Inc. are warning President Donald Trump that any sweeping trade action against China could raise consumer prices, increase costs for businesses and hurt stock prices. Broad-based tariffs on Chinese goods would “trigger
Stocks Face Drop in Asia as Tech Sentiment Rattled: Markets Wrap
published Mar 19, 2018, 4:55:52 PM, by Adam Haigh (Bloomberg) — Stocks in Asia were poised to follow U.S. equities lower after a sell-off in technology shares bruised trader sentiment before a key Federal Reserve policy meeting. Futures signaled declines on equity indexes in Japan, Australia and Hong Kong. U.S.
Kushner Conflict Cloud Hovers Over Brooklyn Sale Linked to Japan
published Mar 13, 2018, 3:00:00 AM, by Caleb Melby (Bloomberg) — Two months after Jared Kushner joined the White House as a senior adviser, his family firm sold a stake in a Brooklyn building to a unit of a company whose largest shareholder is the government of Japan. The buyer
Facebook on Defensive as Cambridge Case Exposes Data Flaw
published Mar 18, 2018, 4:20:35 PM, by Sarah Frier (Bloomberg) — Facebook Inc. wants you to know: this wasn’t a breach. Yes, Cambridge Analytica, the data-analysis firm that helped U.S. President Donald Trump win the 2016 election, violated rules when it obtained information from some 50 million Facebook profiles, the
Trump Calls for Death Penalty for Drug Dealers to Combat Opioids
published Mar 18, 2018, 5:56:16 PM, by Toluse Olorunnipa (Bloomberg) — President Donald Trump called for drug dealers to receive the death penalty in some cases as part of his administration’s effort to address the opioid crisis. The Department of Justice “will seek the death penalty against drug traffickers, where
Walmart Whistle-Blower Claims Cheating in Race With Amazon
published Mar 15, 2018 4:39:20 PM, by Matthew Boyle (Bloomberg) — In its race to catch Amazon.com Inc. in online retailing, Walmart Inc. issued misleading e-commerce results and fired an executive who complained the company was breaking the law, according to a whistle-blower lawsuit. Tri Huynh, a former director of
Saudi Arabia Is Said to Block Some German Business Over Rift
published Mar 15, 2018 3:18:12 PM, by Vivian Nereim, Dinesh Nair, Matthew Martin and Glen Carey (Bloomberg) — Saudi Arabia is cutting back on its dealings with some German companies amid a diplomatic spat with its top European trading partner, according to people with knowledge of the matter. Government agencies
Wall Street to Get a Bundle of Savings If CME Buys Spencer’s NEX
published Mar 15, 2018 3:52:36 PM, by Matthew Leising (Bloomberg) — To understand why CME Group Inc. wants Michael Spencer’s NEX Group Plc — and why Wall Street should care — look no further than one of the world’s most important assets: U.S. Treasuries. NEX on Thursday confirmed a Bloomberg