DealBook P.M. Edition - June 21, 2016: Highlights: Goodbye Password Banks Opt to Scan Fingers and Faces Instead
Tuesday, June 21, 2016
Goodbye, Password. Banks Opt to Scan Fingers and Faces Instead.Frustrated by
thieves stealing personal data from millions of customers, banks are
investing in biometric technology to offer better security.
Breakingviews: A Departure Leaves SoftBank's Founder Firmly in ChargeNikesh Arora,
who had been expected to succeed Masayoshi Son as SoftBank's head,
leaves the company, having made some big, bold bets on start-ups.
Janet Yellen Hints That Fed May Hold Back on Raising Interest RatesThe central
bank chairwoman told senators that data on the labor market and the weak
pace of investment indicated that domestic demand "might falter."
Steven Davidoff Solomon: Law School a Solid Investment, Despite Pay DiscrepanciesTop law school graduates are doing better than ever, but even lower-ranked schools offer good opportunities for their students.
Hillary Clinton's Speech: What You MissedMrs. Clinton,
who has often been criticized for her ties to Wall Street, suggested Mr.
Trump would "take us back to where we were before the crisis" and "rig
the economy for Wall Street again." She also assailed Mr. Trump's
comments appraising himself as the "king of debt."
The Moody's Economic Report That Clinton Is Using to Attack TrumpIf all of
Donald Trump's plans were put into effect, the analysts say, the economy
would go into a recession by the end of his first term.
Is Lululemon Board Member Rhoda Pitcher for Real?The
longest-serving director on the board of a $10 billion public company
has a personal history that cannot be traced, no identifiable photo, a
business that cannot be found, and a degree from an unaccredited entity
with a residential street address.
Oi Bankruptcy Sends Shockwaves Through Brazil's Financial System"I don't see a
solution for Oi," said the head of capital markets at Eleven Financial
Research. "The company will be sliced and sold in pieces as possible.
There won't be enough cake for everybody."
Chinese Bank Staff Beaten for Poor Performance on CourseA motivational
trainer in China beat eight rural bank employees with a stick, shaved
the heads of the men and cut the hair of the women after they performed
poorly on a training weekend.
Volkswagen shareholders are expected to get loud.Volkswagen will hold its annual shareholders' meeting in Hanover, Germany, on Wednesday.
Members of top management and VW's supervisory board are expected to
get an earful from shareholders about the company's slim profits and
emissions misconduct. But there are unlikely to be any real consequences
as almost all of Volkswagen's voting shares are owned by members of the
Porsche and Piëch families, the state of Lower Saxony and the sovereign
wealth fund of Qatar. Jack Ewing
BlackBerry's turnaround plan is unproved ahead of meeting.BlackBerry is
no longer in danger of imminent collapse, as was the case when John S.
Chen was brought in to lead the company in 2013. But as Mr. Chen
prepares to run the company's annual meeting in Waterloo, Ontario, on Wednesday and release first-quarter results on Thursday,
his turnaround plan, which involves focusing on phone management and
security systems for business and government, remains unproved. Despite
adopting Google's Android operating system, BlackBerry has not revived
the smartphone business it once dominated. Last week, Maynard Um, an
analyst at Wells Fargo, published a detailed case for finally shutting
down the phone business. That would cut BlackBerry's revenue almost by
half to just over $1 billion, by Mr. Um's estimates. But he forecast
that without phones, BlackBerry could earn 27 cents a share this year
rather than lose 10 cents a share. Ian Austen