DealBook P.M. Edition - June 16, 2016: Top Story: Microsoft Is Breaking Corporate America's Taboo on Pot Inbox x
Thursday, June 16, 2016
Microsoft Is Breaking Corporate America's Taboo on PotAs state after
state has legalized marijuana in one way or another, big names in
corporate America have stayed away entirely. But now Microsoft is
offering software that tracks marijuana plants from "seed to sale."
"We do think there will be significant growth," said Kimberly Nelson,
the executive director of state and local government solutions at
Uber Rival's $28 Billion Valuation Shows Size of China's Ride-Sharing MarketDidi Chuxing
brought in $7.3 billion in its latest fund-raising round, giving it a
valuation of almost half that of Uber, its main competitor in China.
After Insider Trading Conviction, a New Life as a SpeakerSince serving a
one-year prison sentence, Roomy Khan has been giving lectures to
students at business schools and delivering talks to compliance
Judge Denies Reza Zarrab's Bail Request for Self-Financed House ArrestMr. Zarrab, a
gold trader from Turkey, had asked to be allowed to live in an apartment
under 24-hour armed guard and GPS monitoring, all at his own expense.
Jeff Sommer: The Fed's Policies Have Gotten It in a TangleA look at the
Federal Reserve's own data suggests that its policies have led to
financial imbalances that place it under pressure to raise rates.
Breakingviews: Health Care Merger Offers Little Reward but Much RiskAmSurg and
Envision are combining in an all-stock deal that will leave each with
about half of the combined company, but little value is being created.
Sumner Redstone Ousts Viacom C.E.O. and Five Board MembersSumner Redstone
removed five of Viacom directors, including the chief executive,
Philippe Dauman, from the company's board, according to two sources
familiar with the situation.
Corporate Clients Push Back After Law Firms Hike Starting SalariesBank of
America's top lawyer sent an email to a group of law firms calling
$180,000 in associate lawyer pay unjustified, making it clear the bank
wouldn't help firms absorb the cost.
Will Google or Facebook Buy Twitter?In 2011, Larry
Page of Google met with Jack Dorsey of Twitter about a deal. Mr. Dorsey
"was escorted into a large conference room where, after a few minutes,
Page emerged only to draw the blinds, sit eerily close to Dorsey, and
whisper his acquisition pitch into his ear."
Clinton's Progressive Beacon Is a Ex-Goldman Banker and Bob Rubin ProtégéGary Gensler
(along with Mandy Grunwald) is a central conduit between Elizabeth
Warren and Hillary Clinton. He's seen as a possible Treasury secretary
after Sheryl Sandberg or Lael Brainard.
What Gets an Email Flagged at Goldman SachsCNBC has
obtained a document detailing more than 180 phrases flagged for scrutiny
by its compliance department. The list includes the myriad inventive
ways bankers find to use of the F-word.
Citi's Forex Executives Holidayed as Staff Prepared for BrexitAs
rank-and-file workers worked long hours, five of the bank's most senior
currencies executives each took between one and three days out of work
around last weekend to drive their sports cars, including some Ferraris,
through France. "Everyone is entitled to a holiday" but the timing and
nature of the trip was "insulting" to employees, one said.