What’s Going on in Finance Today
Facebook has become a gold mine for data, especially by U.S. law enforcement agencies. Global demand rose 18% in early 2015, with U.S. agencies accounting for a third of that total. Facebook has also been told to restrict more of its content by countries worldwide. Learn the facts and numbers behind Facebook data demands with a quick click here, or scroll down.
Hedge fund manager Bill Ackman purchased Allergan stock before the company was bought by Valeant Pharmaceuticals. Allegedly, the buy was based on inside information before any deal was made between the two companies, making a case for insider trading. Find out the laws Ackman broke and the outcome of the case with this link, or scroll below.
CFO.com has the news and information finance professionals need, find it all here in the roundup.
But First, the Finance Win and Fail of the Day
A 7-year-old girl received $77 million in diamonds from here father, a billionaire in Hong-Kong. More impressive is the fact that only two diamonds were bought. One being a 12.03-carat blue diamond worth about $48.5 million. The other a 16.08-carat pink diamond worth $28.5 million. Find out the where’s and why’s in today’s win here: article provided by Kelvin Chan and Jamey Keaten of the associated press at ap.org.
Nordstrom’s stock took a beating in Q3. Shares took as much as a 20% hit last Friday. They blame the sale of a credit-card portfolio to TD Bank last month. Macy’s department store also had a fall in sales recently, as well as Kohl’s. Get all the details of today’s fail here: article provided by Akin Oyedele of businessinsider.com.
A judge finds Bill Ackman can be sued for allegedly buying a stake in Allergan based on inside information about a takeover bid by Valeant Pharmaceuticals.
Costs for large companies rose just 3.2% this year, according to Aon Hewitt.
>> David McCann
FASB’s vote to proceed with its new standard for reporting lease obligations starts the clock ticking.
Spare economic capacity and very low inflation justify keeping monetary policy loose in most major advanced economies, IMF staff said.
Facebook took down 20,568 posts and other pieces of content that violated local laws in the first half of 2015.