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Dec 22, 2015

DealBook P.M. Edition - December 22, 2015: Top Story: Deal Professor: In a Record Year for Deals, Success and a Few Missteps.

Tuesday, December 22, 2015
Deal Professor: In a Record Year for Deals, Success and a Few Missteps The merger market is on track for a $4 trillion-plus year, and deal makers are no doubt celebrating, but this is also a time for reflection.

The Guardian | World | Middle East | Syria: Russia May Have Committed War Crimes by Killing Civilians in Syria, Says Amnesty.

Russia may have committed war crimes by killing civilians in Syria, says Amnesty

Amnesty International accused Russia of using cluster munitions and unguided bombs on civilian areas in Syria in attacks that it says have killed hundreds of people in the past few months.

The Guardian | World | Australia | Business - December 23 (02:37GMT): Law Firm Slater And Gordon Faces Class Action From Shareholders Over Losses.

Law firm Slater and Gordon faces class action from shareholders over losses

Listed law firm Slater and Gordon is facing its second threat of a shareholder class action in a week over the company’s performance and massive share price losses.
Rival law firm Maurice Blackburn Lawyers announced on Wednesday it was opening registrations to aggrieved shareholders wanting to pursue a class action.

BEA News Release - December 22, 2015: BEA Announcement: Inadvertent Release of Monthly Data.

The U.S. Bureau of Economic Analysis (BEA) announces the following: 

There has been an inadvertent release of some of BEA’s personal consumption expenditure data for November as well as for previous months via BEA’s API (application programming interface).  BEA’s personal income and outlays data for November are scheduled for public release on Dec. 23 at 8:30 a.m. eastern time. Because some data were inadvertently released ahead of the official release time, BEA will immediately release the data that were affected, consistent with our protocol. Those data cover current dollar personal consumption expenditure statistics for July through November as well as current dollar breakouts for goods, durables, nondurables, and services. BEA will take steps to ensure that this does not happen again and will take all appropriate action to safeguard economic data. BEA will release the entire personal income and outlays report for November as scheduled on Dec. 23 at 8:30 a.m. eastern.

You can now access the statement at

WSJ | Forex Closing on December 22, 2015.

The Wall Street Journal Forex Closing
Major Currencies
Tuesday, December 22, 2015

WSJ | Major Indexes Closing on December 22, 2015.

The Wall Street Journal Major Indexes Closing
Major Indexes 5:46 p.m. EST 12/22/15

FTC Press Release - December 22, 2015: FTC Credit Card Laundering Scheme Participants Settle FTC Charges.

FTC@100 Banner

Defendants Helped Secure Processing Services for Telemarketers Also Sued By FTC
Participants in an alleged credit card “laundering” scheme have agreed to settle Federal Trade Commission charges that they illegally helped provide access to payment networks, thereby enabling scammers to place bogus charges on consumers’ credit cards.

FRB Press Release | Enforcement Action - December 22, 2015: Calumet County Bank (PDF), Brillion, Wisconsin.


Press Release

Release Date: December 22, 2015

The Federal Reserve Board on Tuesday announced the execution of the enforcement action listed below:

Calumet County Bank (PDF), Brillion, Wisconsin
Written Agreement dated December 17, 2015
For media inquiries, call 202-452-2955.

Last update: December 22, 2015

Bits | The Business of Technology Daily Report - December 22, 2015: Daily Report: The Drumbeat of Bad Tech News From Japan.

Daily Report: The Drumbeat of Bad Tech News From Japan

Pui-Wing Tam

Which country has tech companies that once ruled the earth, but that now appear caught in an inexorable cycle of decline? Where their innovations once outpaced others, but have now fallen behind?

CMI Spot Prices as of Close of Trading in New York on December 22, 2015:

Spot Prices as of traditional New York closing times

Tuesday, December 22, 2015


WSJ | Biggest Decliners Closing on December 22, 2015

NYSE Biggest Percentage Decliners | Nasdaq | Arca | Composite
Tuesday, December 22, 2015 - 5:01 pm ET

WSJ | Biggest Gainers Closing on December 22, 2015.

The Wall Street Journal Biggest Gainers Closing
Biggest Gainers
4:46 pm ET 12/22/2015

WSJ | Most Actives Closing on December 22, 2015.

The Wall Street Journal Most Actives Closing
Most Active Stocks by Volume
4:31 pm ET 12/22/2015

Wall Street at Close Report by CNBC on December 22, 2015: Dow Closes Up Triple Digits as Caterpillar Rallies.

Dow closes up triple digits as Caterpillar rallies

Evelyn Cheng
U.S. stocks closed higher Tuesday, helped by some stabilization in oil prices and recovery in hard-hit areas of the market this year.
The Dow Jones industrial average briefly added more than 150 points in afternoon trade as nearly all constituents advanced. Caterpillar temporarily rose more than 5 percent to contribute the most to gains. The stock is one of the worst performers in the Dow year-to-date, down more than 20 percent.

The Dow transports briefly gained about 1.5 percent as Ryder System led nearly all constituents higher.

European Markets at Close Report by CNBC on December 22, 2015: Europe Ends Mixed as Oil Recovers; Miners Jump

Europe ends mixed as oil recovers; miners jump

Alexandra Gibbs, Arjun Kharpal, Holly Ellyatt
European stocks attempted to make gains on Tuesday, but closed mixed as the volatility in oil prices kept investors on edge.

U.S. Stock Market Future Indications Update by CNBC - December 22, 2015: U.S. Futures Jittery After GDP Data.

US futures jittery after GDP data

Jenny Cosgrave
U.S. stock index futures pointed to a slightly higher open on Tuesday after the release of GDP data, as oil prices continued to weigh on investors in the last few trading days before the Christmas holiday.
The final read on third-quarter GDP came in at an annualized rate of 2 percent. Economists polled by Reuters expect annual growth of 1.9 percent, down slightly from the second estimate of 2.1 percent but above the advance estimate of 1.5 percent.

ESA | Real Gross Domestic Product (GDP) - December 22, 2015: Increased at an Annual Rate of 2.0 % in The Third Quarter of 2015, According to Today’s Third Estimate..... Corporate Profits Decreased $33 Billlion in Q3...

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Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2015, according to today’s third estimate. This follows an increase of 3.9 percent in the second quarter.

Corporate profits decreased $33 billion in the third quarter following an increase of $70.4 billion in the second quarter.

Economics & Statistics Administration

U.S. Census Bureau
Bureau of Economic Analysis

Consumer Financial Protection Bureau - December 22, 2015: Annual notice of asset-size exemption thresholds for Regulations C and Z.

Regulations > Consumer Financial Protection Bureau

Reuters | Markets - December 22, 2015: Oil Prices Edge Up From Multi-Year Lows.

Oil prices edge up from multi-year lows

By Karolin Schaps and Ahmad Ghaddar
LONDON Oil prices rose slightly on Tuesday, bouncing off 11-year lows as investors closed bearish positions ahead of the year-end holiday but global oversupply capped gains.Brent futures traded up 17 cents at $36.52 a barrel at 1047 GMT, recovering from an 11-year low of $36.04 hit on Monday. U.S. West Texas Intermediate (WTI) crude futures were 32 cents higher at $36.13 a barrel, up from 2009 lows of $33.98 hit in the prior session.

NYT First Draft - December 22, 2015: Focus of Criminal Justice Efforts Shifts to States.

First Draft

6:25 am ET

Focus of Criminal Justice Efforts Shifts to States

While much of the news media attention on a criminal justice overhaul has been focused on Congress, states have been the real incubators of proposals to trim sentences for nonviolent offenders and to ease their transition out of prison. Now, even as advocates for criminal justice change await action in Washington, they said they would be expanding their efforts in the states this year.
Leaders of the U.S. Justice Action Network said on Monday that they would be taking a bipartisan push for criminal justice changes in 2016 to Illinois, Kentucky, Louisiana and Maryland — states they see as ripe for legislative proposals such as one allowing offenders to seal their criminal records after steering clear of trouble for a time. The push comes on the heels of successful efforts in 2015 in Michigan, Ohio and Pennsylvania.

DealBook Today's Top Headlines in December 22, 2015: Sued Over Old Debt and Unable to Go to Court | The Dark Side of Cord-Cutting | A Fight Behind The Scenes of Luxury | Martin Shkreli and the Company Gatekeeper.

Tuesday, December 22, 2015
SUED OVER OLD DEBT AND UNABLE TO GO TO COURT Debt buyers are using courts to sue consumers and collect debt, then blocking legal challenges from these same consumers, Jessica Silver-Greenberg and Michael Corkery report in DealBook.

Hundreds of people have been sued by Midland Funding, a unit of the Encore Capital Group, for money that they say they did not owe or for debt that had long expired and was not legally collectible.

U.S. Stock Market Future Indications by MarketWatch - December 22, 2015: U.S. Stock Futures Drop in Choppy Trade Ahead of GDP Data.

U.S. stock futures drop in choppy trade ahead of GDP data

Sara Sjolin
Wall Street was set for a downbeat trading day on Tuesday, with stock futures tilting lower ahead of economic growth data, which could throw the potential Santa Rally further off course.
Futures for the Dow Jones Industrial Average YMH6, +0.06%  dropped 42 points, or 0.3%, to 17,132, while those for the S&P 500 index ESH6, +0.06%  lost 4.40 points, or 0.2%, to 2,010.50. Futures for the Nasdaq 100 index NQH6, -0.03%  gave up 14.75 points, or 0.3%, to 4,548.25.
U.S. stocks have struggled to stage a Santa Rally this December, but ended firmly higher Monday in a late session surge as investors shrugged off weak oil prices. The S&P 500 SPX, +0.78% ended 0.8% higher and the Dow Jones Industrial Average DJIA, +0.72%  leapt about 123 points. The Nasdaq Composite COMP, +0.93%  finished up 0.9%.

Bloomberg Business - December 22, 2015: Deutsche Bank Tally of Suspect Russia Trades Said at $10 Billion

Deutsche Bank Tally of Suspect Russia Trades Said at $10 Billion

Gregory White Stephanie Baker StephaniBaker Keri Geiger GeigerWire
Deutsche Bank AG has identified as much as $4 billion in suspicious transactions related to its Russian operations, in addition to $6 billion in so-called mirror trades it is examining, said several people with knowledge of the bank’s review of the matter.
That means the Frankfurt-based bank flagged as much as $10 billion in total trades that may not have been vetted for money laundering as clients moved money out of Russia. Among the previously unreported trades under scrutiny are ones that consistently went in the same direction -- primarily buy orders, for example -- according to people familiar with the matter.

The Guardian | World | Middle East | Global Development of Professional Network: It Is Time to Stop The Indiscriminate Bombing and Shelling of Urban Areas.

It is time to stop the indiscriminate bombing and shelling of urban areas

When dynamite was invented in 1867, Alfred Nobel was reportedly acutely aware of its horrendous potential. Bertha von Suttner, his personal friend and Austrian Nobel Peace Prize laureate in 1905, relates how Nobel anticipated that his invention would lead to weapons so powerful “that two army corps can mutually annihilate each other in a second”
Nobel had hoped that “all civilised nations [would] surely recoil with horror and disband their troops” at the prospect. Sadly, military forces around the world have been using explosive weapons eagerly ever since.

The Guardian | World | Europe | Migration - December 22, 20156: One Million Refugees Have Reached Europe This Year - IOM by Patrick Kingsley

One million migrants and refugees have reached Europe this year – IOM

Patrick Kingsley
More than one million people have now reached Europe through irregular means in 2015, the International Organisation for Migration has announced, in what constitutes the continent’s biggest wave of mass migration since the aftermath of the second world war.

Asian Markets at Close Report by MarketWatch on December 22, 2015. Chinese Shares Stage Comeback to Close Higher.

Chinese shares stage comeback to close higher

Chao Deng
Shares in China rose Tuesday, as year-end buying by domestic insurers outweighed investors’ skepticism toward Beijing’s latest efforts to boost its economy.
The Shanghai Composite Index SHCOMP, +0.26%   closed up 0.3% to 3651.77, while China’s onshore yuan stabilized against the U.S. dollar following a period of depreciation.