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Aug 14, 2016

DealBook Today's News Summary on August 12, 2016: Top Story: Fox News Names 2 Insiders to Top Posts | DealBook Highlights | Buzz Tracker

The New York Times
Top Story
Bill Shine, named co-president of Fox News along with Jack Abernethy, will be in charge of programming at Fox News and Fox Business Network.
Fox News Names 2 Insiders to Top Posts
Bill Shine and Jack Abernethy, veterans of the organization, were named by Rupert Murdoch to help fill the void left by the ouster of Roger Ailes.

DealBook Highlights
Mark T. Bertolini, chief executive of Aetna, left, and Joseph R. Swedish, Anthem’s chief executive, testified before a House committee hearing last fall. Major insurers are struggling to find a business model that works in the marketplaces created by the federal health care law.
Cost, Not Choice, Is Top Concern of Health Insurance Customers
Millions of people looking for insurance in the federal marketplaces are more concerned with cost than with finding a favorite doctor or trusted company.
Hillary Clinton says she would like the wealthiest to pay higher taxes.
How Hillary Clinton and Donald Trump Differ on Taxes
One major difference is that Mr. Trump would give the wealthy a big tax cut, and Mrs. Clinton would raise their taxes.
Neighborhoods like Guangfuli, in Shanghai, have been remade in China’s development boom. Now real estate is faltering, posing a threat to barely regulated financial products whose investors may have little idea of their exposure.
Trillions in Murky Investments Could Rock China’s Economy
Long on promises and short on details, investments known as wealth management products have drawn a flood of money — and pose a big risk.
The tough-love approach may be best when tempted to help and co-sign.
The Big Pause You Should Take Before Co-Signing a Student Loan
Lending your signature and good credit history to someone could indeed make a difference, but it comes with plenty of risk.
The World Economic Forum’s report is one of the strongest endorsements yet for the blockchain, the underlying technology introduced by the virtual currency Bitcoin.
Envisioning Bitcoin’s Technology at the Heart of Global Finance
The World Economic Forum predicts that the blockchain concept introduced by the virtual currency could help banks offer cheaper, faster and more secure services.
Stephen Emery, the managing director of sales and trading at Mission Capital Advisors. When he was asked by a financial adviser to join an investment trip to Silicon Valley, Mr. Emery jumped at the chance.
A Firm Sells Its Contrarian Investments With Field Trips
Bienville Capital takes would-be investors on tours to see prospective investments or talk with executives, so they can do their own evaluations.
Buzz Tracker
Silicon Valley’s most self-destructive founder. The case of Gurbaksh Chahal, a prolific technology entrepreneur who allegedly attacked two women, represents “everything the public thinks is wrong with Silicon Valley.” – Bloomberg
Wall Street asks the Fed for five more years. Big banks are asking to be granted an additional grace period to comply with the Volcker rule. – Reuters
Meet a low-profile V.C. firm. Forerunner Ventures has had a very good month as an investor in both Dollar Shave Club and – ReCode
Negative rates for the people arrive at a German bank. When the European Central Bank introduced a negative interest rate on lenders’ deposits two years ago, few thought things would ever go this far. – Bloomberg
How to stop your children catching ‘rich kid-itis.’ The Rich Kids of Instagramare every wealthy parent’s nightmare come true. Symptoms range from poor work ethic and profligate spending to potential addiction. – Financial Times
Bud Fox questions Ruby Tuesday’s on Harambe. During the burger chain’s earnings call, the analyst for Geneva Roth Holding asked how the company would mitigate the negative impact of the Cincinnati Zoo gorilla’s death. “Excuse me, can you repeat your question please?” said J.J. Buettgen, chief executive of RubyTuesday. “Impacted by what?” – Business Insider

Friday, August 12, 2016