International
Headlines
How Satya Nadella turned Microsoft around
WHEN SATYA NADELLA became the third boss of Microsoft in 2014 one photograph captured the moment. It shows him flanked by Bill Gates, the co-founder and chairman, and Steve Ballmer, Mr Gates’s successor as chief executive. The two white tech tycoons strike a confident pose in casual dress. Mr Nadella, an Indian-American, skulks in a suit, smiling...
Sources & Acknowledgments
Books COVID-19 and Trade Policy: Why Turning Inward Won’t Work, edited by Richard E. Baldwin and Simon J. Evenett, CERP Press, London, 2020 Articles and other sources On the learning potential of unexpected disruptions, by Michele Acuto, Shaun Larcom, Ferdinand Rauch and Tim Willems Central bank bond purchases in emerging market economies, by Yavuz...
The peril and the promise
THE THEORY of “black swans” says that unpredictable high impact events play a vastly greater role than most people realise. Long before 2020 scientists feared that a zoonotic respiratory disease might originate in Asia and spread globally. But hardly anybody foresaw the consequences. The story told by a casual inspection of most economic data is...
The right kind of recovery
EVERY FEW decades in the 20th century the relationship between the state and the individual was reforged in the fire of crisis. Liberal reformers in Britain won the election of 1906 amid a loss of confidence in conservatism. In America the 1930s depression was followed by the New Deal. The second world war preceded the trente glorieuses, never-had-it-so-good...
Prognosis uncertain
POORER countries depend on trade more than rich ones, especially on exports of tourism and commodities. They have fewer professional jobs that can be done from home, making social distancing costlier. Because their governments and companies often borrow in dollars, they suffer in times of economic stress, when their currencies usually fall against the...
Finance
Why the Best G.D.P. Report Ever Won’t Mean the Economy Has Healed
The United States almost certainly just experienced its fastest three months of economic growth on record. That doesn’t mean the economy is strong.The Commerce Department on Thursday will release its preliminary estimate of economic growth for the third quarter. Economists surveyed by FactSet expect it to show that gross domestic product — the broadest...
Recession’s Silver Lining: American Households Are Doing Better Than Expected
For months, Americans have barely dined at restaurants or traveled for vacation. There have been no ballgames or concerts to attend. Gym and other memberships mostly remain frozen.Forced into lockdown mode by the coronavirus, people put big purchases on hold and scaled back their spending. Around the same time, mortgage lenders, student loan collectors...
Airbnb Fights Its ‘Party House Problem’
The luxury cabin in Incline Village, Nev., just north of Lake Tahoe, has a hot tub, sauna, pool table, fire pit, two patios and a backyard full of towering pine trees. It sleeps 14, according to its listing on Airbnb. And it has been a nightmare for Sara Schmitz, a retiree who lives next door.The home is frequently the site of raucous bachelor parties...
A.M.D. Agrees to Buy Xilinx for $35 Billion in Stock
SAN FRANCISCO — Advanced Micro Devices agreed to pay $35 billion in stock for Xilinx, a deal aimed at reshaping one of the computer chip industry’s pioneers.A.M.D., known mainly as Intel’s longtime rival in microprocessors that power most computers, plans to use the acquisition to broaden its business into chips for markets like 5G wireless communications...
Stocks Slide as Virus Cases Surge
Here’s what you need to know:A rise in coronavirus cases in the United States, new restrictions on activity in Europe and a standoff in Washington over economic relief for struggling businesses and out-of-work Americans left investors reeling on Monday.The S&P 500 fell about 1.9 percent after recovering some ground in afternoon trading. Still,...
Legal
DOJ Prioritizes Health Care Fraud in the Pandemic
The Department of Justice (“DOJ”) recently announced its largest ever health care fraud and opioid enforcement action. In a coordinated effort, DOJ charged 345 defendants with more than $6 billion in fraud losses for submitting false and fraudulent claims to federal health care programs and private insurers. The nationwide enforcement operation...
4 Compliance Tips Amid Increased Ransomware Scrutiny
In light of two new US Treasury Department advisories signaling increased oversight of ransomware payments, victim companies and their third-party response teams considering making payments should follow certain due diligence and compliance best practices, write Colin Jennings, Ericka Johnson, Dylan Yépez and Elizabeth Weil Shaw in an article for Law360.…...
Cryptocurrency Exchange and its Executives Face Allegations of Failing to Maintain an Adequate AML Program
Two U.S. authorities recently announced actions against four individuals and numerous entities associated with BitMEX, an online trading platform for futures contracts and other derivative products tied to the value of cryptocurrencies. Both actions allege that BitMEX failed to put in place required anti-money laundering programs and procedures, and...
Ransomware Payments can lead to Sanctions and Reporting Obligations for Financial Institutions
With cybercrime on the rise, two U.S. Treasury Department components, the Office of Foreign Assets Control (“OFAC”) and the Financial Crimes Enforcement Network (“FinCEN”), issued advisories on one of the most insidious forms of cyberattack – ransomware. Ransomware is a form of malicious software designed to block access to a system or data. ...
FinCEN Director Blanco Encourages Increased Communication During Global Pandemic
In remarks to the Association of Certified Anti-Money Laundering Specialists (“ACAMS”), Kenneth A. Blanco, the Director of the U.S. Treasury’s Financial Crimes Enforcement Network (“FinCEN”), covered a number of high-priority topics, including FinCEN’s response to the pandemic, the latest COVID-19 related fraud schemes, emerging cyber threats,...
Deals
Seequent continues investment in innovative geoscience technology for world’s major resource challenges Minalytix partnership and minority shareholding demonstrates Seequent’s commitment to advancing solutions to help customers solve challenges within mining and applied geosciences
Minalytix partnership and minority shareholding demonstrates Seequent’s commitment to advancing solutions to help customers solve challenges within mining and applied geosciences Seequent, a world leader in the development of geoscience analysis, modelling and collaborative technologies, continues its investment in geoscience technology and innovation...
Qualitest announces investment from Bridgepoint for Majority Stake
World’s largest independent software testing and quality assurance company will use investment to accelerate global acquisition strategy and product development Qualitest, the world’s largest pure-play outsourced software testing and quality assurance specialist, announced today that Bridgepoint, an international private equity group, has...
Accountants reveal how AI will change deal-making - forever
The ability to predict and shape the long term success of global takeovers is often seen as the “holy grail” for CEOs, investors and their advisors. A new report from chartered accountancy body ICAEW and Drooms, a leading data solutions company, reveals that some key decision making may soon be taken away from humans and guided instead by the application...
US dominates global M&A securing nine out of ten of the largest 1H19 deals
Mergermarket publishes its Q2 2019 global report London, United Kingdom 2nd July 2019: Mergermarket, the leading provider of M&A data and intelligence, has published its Q2 2019 report in which all but one of the ten largest deals targeted US-based companies, six of which were the result of domestic consolidation. Amid heightened geopolitical...
Uber to acquire Careem to expand the greater Middle East regional opportunity together
Careem to become a wholly-owned subsidiary of Uber, operating as an independent company under the Careem brand and led by Careem foundersOpportunity for both companies to rapidly expand and capitalise on the region’s underpenetrated mobility opportunity and growing digital economy Transaction would be largest-ever technology industry transaction...
Acq Lite
At World’s Biggest Dog Show, Pups That Give New life to Disabled Owners
EDITOR’S NOTE: This news is courtesy of iCopyright, so GNN has no control over the ads. Please remember we do not endorse the advertisements. The post At World’s Biggest Dog Show, Pups That Give New life to Disabled Owners appeared first on Good News Network. Read More
Stranger Sets Off Incredible Chain of Good Deeds That Saved 6 Lives
Six lives were saved at a hospital this week, and it is all thanks to one woman's decision to “be selfless for a day”. The post Stranger Sets Off Incredible Chain of Good Deeds That Saved 6 Lives appeared first on Good News Network. Read More
10 Things I Wish I Would Have Told My Kids
Mindfulness is the ability to pay attention to your current experience—both the internal and external—without judgment. Practicing mindfulness allows us to make wiser choices and pursue healthier and more beneficial avenues in life. Had I learned them earlier in life, I would have taught my kids the valuable life lessons that I’ve gleaned from...
DIY or Die: How an Industrious Outback Nurse Diagnosed His Own Heart Attack and Stayed Alive
The nurse was stationed at his medical outpost 100 miles away from the nearest hospital when he realized that he was about to have a heart attack. The post DIY or Die: How an Industrious Outback Nurse Diagnosed His Own Heart Attack and Stayed Alive appeared first on Good News Network. Read More
Daily Dose of Cute: Dachshund Shows Off Skills by Maneuvering Maze of Plastic Water Bottles
If you’re mourning the end of the Winter Olympic Games in Pyeongchang, you might like these games of skill involving a long-haired Dachshund. Takao showed off his thinking abilities earlier this week when he successfully maneuvered a maze of plastic water bottles that was erected by his owner. In the videos posted to his Instagram page, the...