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Aug 17, 2016

DealBook | Today's News Summary - August 17, 2016: Top Story | Highlights | Buzz Tracker | Looking Ahead

The New York Times 

Top Story
Janet Yellen, chairwoman of the Federal Reserve, continues to face a tricky situation in deciding what to do about interest rates.
The Fed Is Searching for a New Framework. New Minutes Show It Doesn’t Have One Yet.
Has something fundamental shifted? The Fed affirmed the status quo.

DealBook Highlights
2015 Law School Graduates Got Fewer Jobs in Private Practice
Last year’s graduates landed fewer jobs in private practice than any class in the last two decades, according to the National Association for Law Placement.
Shradha Agarwal and Rishi Shah are co-founders of ContextMedia, a health care media company in Chicago. They made a point of financing and mentoring other start-ups.
An Ecosystem Where Start-Ups Help Other Start-Ups
The founders of ContextMedia, a health care media company in Chicago, have helped other start-ups get through those perilous first years.
Intel Seems to Have a Stronger Hand Than Cisco Systems
The outlook for last-generation tech companies is often grim as their products become commonplace, rivals find alternatives and margins shrink.
Buzz Tracker
Aetna C.E.O. threatened to pull out of Obamacare. “It is very likely that we would need to leave the public exchange business … should our deal ultimately be blocked,” the insurer told Justice Department officials in a July letter. – Huffington Post
A growing exodus from hedge funds. Tudor Investment and Brevan Howard’s problem is clear: They just aren’t performing. Disenchanted investors are increasingly shunning hedge funds. – The Wall Street Journal
Is Bank of America the next activist target? Some Bank of America investors have reached out to activist investors about getting into the stock. – The Wall Street Journal 
Hedge fund investors push for “hard hurdles.” Managers are pressured to borrow a page from their competitors in private equity. – Financial Times
Ex-banker is convicted of giving his father inside tips. Sean Stewart, who worked at Perella Weinberg Partners and JPMorgan Chase, tipped his father off to unannounced healthcare mergers. “I think it's fair to say this is a family tragedy,” said a juror. – Reuters
20 C.E.O.s with bigger golden parachutes than Marissa Mayer. The Yahoo chief executive ranks just 54th among potential payouts for the 468 S&P 500 C.E.O.s who have detailed change-in-control agreements in their proxies. – Bloomberg
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Looking Ahead
Insights into the European Central Bank’s concerns about Britain. The European Central Bank will publish an account of its July 21 monetary policy meeting. The summary of the discussion by the bank’s Governing Council may provide insights into how concerned members were about the economic impact of Britain’s vote in June to leave the European Union. The account of the meeting could also offer clues about how the central bank will react to any fallout from the so-called Brexit vote. – Jack Ewing