International
Headlines
Across the West powerful firms are becoming even more powerful
ONE BRIGHT morning earlier this year your correspondent travelled from New York to the University of Chicago to attend a conference on the threat to prosperity posed by monopolies. The journey began with an alarm beeping on a handset made by Apple (which has a 62% market share in America), then a bumpy taxi ride to the airport paid for using a piece...
Which American industries are most in danger of monopoly?
HOW CAN you identify the hotspots in the economy where competition might be a problem? The Economist has tried to answer this question with a series of filters which we have applied to the top 500 firms in America. The process is designed to narrow down where trustbusters may want to look more closely. Existing competition doctrine is not helpful...
Dynamism has declined across Western economies
A BIG PROBLEM when attempting to tell if competition has weakened is that experts have stopped trying to answer the question. In the 1930s industrial economists viewed an uncompetitive industry as one in which a few firms had a large share of output and prices were high or quality low. Roll forward 80 years and competition regulators take refuge behind...
Technology firms are both the friend and the foe of competition
ONE OF THE few things that most people in the West agree on is that there is some kind of problem with the big tech firms. Here is a list of common complaints. They have high market shares and concentrated ownership so that tycoons mainly benefit from their growth, cause addiction, censor free speech, do not censor free speech, are infiltrated...
Western governments need a plan for reinstating effective competition
EVER SINCE the financial crash of 2008-09, capitalism has not been working well. Ordinary people sense it and so do the elites, who have prospered through the West’s lost decade. The symptoms are lower growth, less dynamism and greater inequality. Damagingly, this has led to a widespread belief, particularly among young people, that the system...
Finance
Scandals Catch Up to Private Chinese Hospitals, After Fortunes Are Made
ImageMansions built with wealth from the Putian network of private hospitals, behind a pair of farmers in the village of Dongzhuang in southern China.CreditCreditBryan Denton for The New York TimesScandals Catch Up to Private Chinese Hospitals, After Fortunes Are MadeThe Putian network of 8,000 facilities, which expanded rapidly with little government...
Facebook Cuts Ties With Washington Firm That Sought to Discredit Social Network’s Critics
Facebook Cuts Ties With Washington Firm That Sought to Discredit Social Network’s CriticsImageA Facebook logo reflected on an advertisement board outside the United States Capitol in Washington in October. Facebook had initially hired Definers Public Affairs, a consulting firm, to monitor news about the social network.CreditCreditTom Brenner for...
What Tesla’s ‘Delivery Logistics Hell’ Is Like for Model 3 Buyers
What Tesla’s ‘Delivery Logistics Hell’ Is Like for Model 3 BuyersImageJim Fyfe in his empty garage in Jacksonville, Fla. Twice, he said, he went to pick up a Tesla Model 3 he was told was ready, but both times he came home without one.CreditCreditCharlotte Kesl for The New York TimesBy Neal E. BoudetteNov. 15, 2018Elon Musk has described...
California Utility Customers May Be on Hook for Billions in Wildfire Damage
California Utility Customers May Be on Hook for Billions in Wildfire DamageImageInvestigators have yet to determine the cause of the Camp Fire, which has killed at least 56 people. Many fires in recent years have been caused by downed power lines serving California’s utilities.CreditCreditJenna Schoenefeld for The New York TimesBy Ivan Penn and...
Facebook Cuts Ties With Definers Public Affairs Following Outcry
Facebook Cuts Ties With Definers Public Affairs Following OutcryImageA Facebook logo reflected on an advertisement board outside the United States Capitol in Washington in October. Facebook had initially hired Definers Public Affairs, a consulting firm, to monitor news about the social network.CreditCreditTom Brenner for The New York TimesBy Mike Isaac...
Legal
CMS Proposes Invalidating Adjuster Methodology and Recouping Past Improper Payments From Medicare Advantage Organizations
On October 26, 2018, the Centers for Medicare and Medicaid Services (CMS) issued a proposed rule that will, among other initiatives, allow CMS to recover higher dollar amounts of improper payments made to Medicare Advantage. To read more about this ruling and what it might mean for you, click here to read a recent Squire Patton...… Continue ReadingRead...
India’s New Anticorruption Law Casts Wider Net
The Indian Parliament amended the Prevention of Corruption Act (“POCA”) on July 19, 2018. This legislation marks an important step for India towards checking political graft. Below are some highlights of the changes. Widening the net Unlike its predecessor, which only prosecuted bribe-givers as abettors, the new legislation goes further by prosecuting...
Company Wins Rule 502 Privilege Battle
Several interesting cases this year involve waiver and privilege jurisprudence. Perhaps none more sharply underscores the importance of a well-written proffer agreement when making disclosures to the government than a decision by the Fourth Circuit. The court’s analysis depends in part on the operation of Fed. R. Evid. 502. Background Rule 502...
Brazil Strengthens Battle Against Corruption
In August 2018, in an effort to battle corruption, Brazil enacted Decree-Law No. 9,468/18, which provides broader power to the Public Transparency and Anti-Corruption Council. The Council’s purpose is to discuss ideas and suggestions to improve policies and strategies aimed at combating corruption and impunity within the Federal Public Administration....
Third Circuit Clarifies Public Disclosure Bar in False Claims Act
Third Circuit Clarifies Public Disclosure Bar in False Claims Act In United States v. Omnicare, Inc., the Third Circuit clarified the operation of the public disclosure bar in the False Claims Act (FCA). The court held that publicly available information “could not have reasonably or plausibly supported an inference” of fraud. This information included...
Deals
Global M&A value for the first nine months of 2018 hits third-highest level on record
Western Europe and North America M&A value up year-on-yearPE/VC value increases in CEE The volume and value of global mergers and acquisitions (M&A) declined in the third quarter of 2018, according to M&A information collected by Bureau van Dijk, a Moody’s Analytics company, and the leading publisher of company information. In all, there were...
Aretex Capital Partners Announces Investment in Building Energy
Aretex Capital Partners (‘Aretex’), an international private equity firm, announces that it has invested in Building Energy 1 Holdings plc (‘Building Energy’) through its inaugural fund. Building Energy is a global independent power producer of renewable energy. Building Energy is the third investment for Aretex since its inception...
Naked Brand Group Limited announces term sheet for $25 million strategic investment from Sapinda Holding B.V.
Proposed 19.99% Strategic Investment from Sapinda, Owner of the Globally Recognized Italian Luxury-Lingerie Firm La Perla To Support Strategic Acquisition Efforts Worldwide Naked Brand Group Limited (NASDAQ:NAKD), a global leader in intimate apparel and swimwear ("Naked" or the "Company"), has entered into a non-binding term sheet ("Term Sheet")...
LJ Partnership makes first step into investment management space in Australasia
Continued expansion of LJ Partnership’s global investment management business LJ Partnership (soon to rebrand as Alvarium Investments), an investment firm and merchant banking partnership advising institutional and private clients, today announced that it has acquired a 50% stake in boutique investment manager, Auckland-based New Zealand Assets...
Collas Crill acts for NatWest International on Guernsey Electricity deal
Collas Crill’s Guernsey office acted as counsel to The Royal Bank of Scotland International Limited trading as NatWest International, for the bank's provision of a multi-million pound revolving credit facility to Guernsey Electricity Limited. The facility is being provided to assist Guernsey Electricity with the refinance and extension of its...
Acq Lite
Hear Our Good News Guru Story Friday Morning About Incredible Chain of Good Deeds That Saved 6 Lives
Listen to The Good News Guru Friday morning around 6:50 PST (9:50 am EST) to hear the story of one stranger’s INCREDIBLE act of selfless generosity that resulted in a ripple effect of good deeds that saved a half-dozen lives. HERE IS THE AUDIO from the Ellen K. Morning Show on KOST-103.5 If you miss any [...] The post Hear Our Good News Guru...
Mark Hamill Gets Chewbacca Hug From Harrison Ford, and a Star on Hollywood Walk of Fame
Hollywood's Walk of Fame has finally been graced with the addition of the Jedi Master himself: Mark Hamill. The post Mark Hamill Gets Chewbacca Hug From Harrison Ford, and a Star on Hollywood Walk of Fame appeared first on Good News Network. Read More
On Women’s Day, Government Launches Biodegradable Sanitary Pads
The hygiene products will also only cost a measly Rs. 10 – which is roughly $0.15 a pop. The post On Women’s Day, Government Launches Biodegradable Sanitary Pads appeared first on Good News Network. Read More
Comfy Armchairs Pouring in For Animal Shelter So Every Pet Can Have a Spot
Since posting an adorable 10-second video of their lounging dogs, this Illinois shelter has received dozens more chairs for their other animal residents. The post Comfy Armchairs Pouring in For Animal Shelter So Every Pet Can Have a Spot appeared first on Good News Network. Read More
‘Humans of New York’ Makes History Raising $1Mil in 4 Days to Build Housing For Rohingya Refugees
The page has become one of the fastest campaigns in GoFundMe history to raise over $1 million for a cause. The post ‘Humans of New York’ Makes History Raising $1Mil in 4 Days to Build Housing For Rohingya Refugees appeared first on Good News Network. Read More