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Aug 3, 2016

DealBook P.M. Edition - August 3, 2016: Top Story: Walmart Is Said to Be in Talks to Acquire Jet.com

The New York Times
Top Story
Jet.com boxes wait to be packed for shipping in Swedesboro, N.J.
Walmart Is Said to Be in Talks to Acquire Jet.com
By MICHAEL J. DE LA MERCED AND MIKE ISAAC
Jet.com was born out of a dream of taking on Amazon, but it has struggled, rapidly burning through much of the cash it raised from investors.

DealBook Highlights
Federal Reserve Fines Goldman Sachs $36 Million in Document Leak
By BEN PROTESS
The action stemmed from an incident in 2014, when a Goldman Sachs banker received confidential information from the Federal Reserve Bank of New York.
Jeff Bewkes, Time Warner’s chief executive, said the stake in Hulu was part of the company’s broader commitment to expanding viewers’ options for watching programming.
Time Warner Acquires 10% Stake in Hulu
By EMILY STEEL
The deal, which will go into effect early next year, is part of a push by the company to expand viewing options for its customers.
• Breakingviews: Time Warner Deal Gives Hulu a Much-Needed Lift
ENTREPRENEURSHIP
Boris Mordkovich, one of the founders and the chief executive of Evelo, with an Aurora model electric bicycle in Cambridge, Mass.
The Hottest Start-Up Market? Baby Boomers
By CONSTANCE GUSTKE
The staggering size of the so-called longevity economy has been attracting more entrepreneurs, deep-pocketed financiers and events to pitch new ideas.
Buzz Tracker
Meg Whitman will support Hillary Clinton. The Hewlett Packard executive and Republican fund-raiser said that she would give a “substantial” contribution to the Clinton campaign in order to stop Donald Trump, whom she berated as “a dishonest demagogue.” – The New York Times
GM’s alliance with Lyft faces rocky road after Uber-Didi deal.  “I would be seriously unthrilled if I were at Lyft,” said Rett Wallace, co-founder of Triton Resources. “Lyft’s now alone in their fight against Uber.” – Bloomberg 
For the latest updates:
Go to NYTimes.com/DealBook
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Looking Ahead
Bank of England’s latest predictions on inflation. The Bank of England is widely expected to cut interest rates on Thursday after signaling that economic pressures from Britain’s vote to leave the European Union could necessitate an easing of rates. The Monetary Policy Committee has left its benchmark rate steady at 0.5 percent since March 2009, but the central bank said in July that “uncertainty flowing from the referendum result was likely to depress economic activity in the near term.” Also on Thursday, the bank is also expected to release its latest predictions on inflation, to be followed by a news conference by its governor, Mark Carney. Inflation is an important metric for its monetary policy decisions. – Chad Bray

Wednesday, August 3, 2016