Questions Surround Sumner Redstone's New Team of RepresentativesSome longtime
confidants of the media mogul question whether a lawyer and a spokesman
acting on Mr. Redstone's behalf have even met with him.
China Pushes Back Against U.S. Complaints of Industrial OvercapacityWashington did
not complain when Beijing's spending helped global growth, a Chinese
official said, adding that the impact of closing factories was hard to
Peter J. Henning: Libor-Rigging at Deutsche Bank May Be Harder to ProveA recent court
decision may present the Justice Department with a substantial hurdle to
show that its evidence can support a conviction for wire fraud.
Rothschild & Company to Acquire Compagnie Financière Martin MaurelThe combination
of their private banking and asset management operations in France
would create a bank with $39 billion in assets under management.
David Zaring: Payday Lenders' Fight Against Regulator Would Be a Long ShotNew guidelines
from the Consumer Financial Protection Bureau are certain to face legal
challenges, but those claims will probably fail.
The Valeant Meltdown and Wall Street's Major Drug ProblemVanity Fair
says that Michael Pearson's fall exposes more than the dark side of the
the health-care system - it indicts some of finance's biggest players.
"People on Wall Street love [Allergan's David] Pyott," says an investor.
"This was as if a dirty drunk attacked your beloved uncle."
Video: Hensarling Says Emerging Consensus to Overturn Dodd-Frank"We have both
Washington accountability and Wall Street accountability," the House
financial services committee chairman said of his forthcoming proposal.
Steven Cohen Tears Down Hamptons MansionThe billionaire
paid $62.5 million for a Hamptons mansion during a bidding war in 2013,
but he never lived in it - and now he's torn it down to build a new
one. Mr. Cohen already owns another beach mansion down the road on
Further Lane. But that home is blocked from an ocean view because of
another mansion in front of it, which is owned by James Chanos.
Goldman Sachs Attracts 250,000 Student Job ApplicationsThe FT said
that the number of applications suggests fears of a 'brain drain' in the
sector may be exaggerated as banks introduce more employee-friendly
Matt Damon's Fiery MIT Commencement Speech"It was theft,
and you knew it. It was fraud, and you knew it. And you know what else?
We know that you knew it," the actor said. "So yeah, you sort of got
away with it. You got that house in the Hamptons that other people paid
for as their own mortgages went underwater. And you might have their
money, but you don't have our respect. And just so you know, when we
pass you on the street and look you in the eye, that's what we're
Valeant to share its quarterly earnings report.Valeant
Pharmaceuticals International, which has been troubled in recent months
by a series of scandals over its drug pricing, business dealings and
accounting practices, is expected to belatedly report its first-quarter
earnings on Tuesday morning. The Canadian company has seen its stock
plummet in recent months as it has come under investigation by Congress,
United States attorneys and the Securities and Exchange Commission.
Analysts will probably be listening closely for signs that the company's
sales have begun to rebound and for reassurance that it has put its
recent troubles behind it. This will be the first earnings call
featuring the new chief executive, Joseph C. Papa, who replaced J.
Michael Pearson in May. Katie Thomas