News

People

Biden to Name Ex-Fed Chair Yellen to Lead Treasury

"Janet Yellen is brilliant ... and seems to be popular in all factions, from the financial markets to Main Street."

Matthew Heller
November 24, 2020
Fraud

CEO of Digital Ad Startup Charged With Fraud

Andrew Chapin falsely represented to investors that well-known brands including Nike and Patagonia were using his company Benja's services, the SEC says.
M&A

Merck Buys OncoImmune in COVID Treatment Move

The $425 million deal gives Merck access to a promising therapy for treating seriously ill COVID-19 patients.
Strategy

Danone Announces Job Cuts, Restructuring

The consumer goods company says it is reshaping itself as a “local-first” organization.
Bankruptcy

Guitar Center Files Chapter 11 to Cut Debt Load

The COVID-19 pandemic has plunged the retailer into a liquidity crisis that "could not be resolved through short-term measures."
Credit

Mnuchin to Let Emergency Credit Programs Lapse

If the economy "really goes south," the Treasury Secretary "will go down in history as the man who took away a safety net when it was really needed.”
IPOs

Video Game Company Roblox Files for IPO

The user-generated gaming platform, hugely popular with kids, has yet to turn a profit.
The Cloud

Microsoft Cloud Provider AvePoint Going Public Via Apex Technology SPAC

AvePoint is estimating revenue to grow 26% year-over-year to $148 million for fiscal 2020.
Capital Markets

China’s Negative Yield Bond Gets Positive Response

The strong demand "shows investors are still underexposed to China and there definitely is a scarcity value perceived in these bonds"
Regulation

FTC Says Fintech Startup Beam Misled Consumers

Beam allegedly made false promises to users of its app that it would provide them with 24/7 access to their funds and substantial interest rates.
M&A

Nasdaq to Buy Financial Fraud Detection Company Verafin

The $2.75 billion deal is the largest for the exchange since it acquired OMX in 2008 for $3.8 billion.
Bankruptcy

Norwegian Air Files for Bankruptcy in Ireland

The filing follows the decision of Norway’s government last week not to provide the low-cost airline with further financial aid.
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