Search This Blog

Search Tool

Asian Markets at Close Report

European Markets at Close Report

Aug 25, 2016

DealBook | Today's Top News - August 25, 2016:How Philippe Dauman Lost the Battle for Viacom

The New York Times
Top Story
Philippe Dauman, left, and Sumner Redstone in 2007.
How Philippe Dauman Lost the Battle for Viacom
The daughter of Sumner Redstone achieved almost total victory in her fight to control the vast media empire, and Mr. Dauman was the biggest casualty.

DealBook Highlights
Mylan to Lower EpiPen Cost for Some Patients
But the company, which has raised the price of a two-pack of the allergy attack drug to about $600 from $100 in 2007, is not changing the list price.
• Breakingviews: Debate Over Mylan’s EpiPen Exposes Health Care Flaws
Cyclists in a group formed by Greg Gretsch of Jackson Square Ventures paused during a ride through the Marin Headlands near San Francisco.
Cycling Matches the Pace and Pitches of Tech
In the highly competitive and communal tech industry, cycling is taking the place of golf as both an individual obsession and a camaraderie builder.
Jim Yong Kim in June.
World Bank President Jim Yong Kim Is Nominated for a Second Term
Despite persistent complaints from staff members about Mr. Kim’s leadership, the United States has tapped him for another five-year term.
Jan Koum, one of the founders of the WhatsApp mobile messaging service. When Facebook bought WhatsApp in 2014, Mr. Koum vowed that the deal would not affect the digital privacy of the service’s millions of users.
Relaxing Privacy Vow, WhatsApp Will Share Some Data With Facebook
The mobile messaging service, which Facebook bought in 2014, says it will disclose users’ phone numbers and analytics data.
Buzz Tracker
Uber lost at last $1.2 billion in first half of 2016. After touting profitability in the U.S. early this year, the ride-hailing company is said to post second-quarter losses exceeding $100 million. – Bloomberg
Jose Canseco is Twitter’s favorite financial analyst. Swapping OPS for NIRP, the ex-slugger tosses out predictions on Japanese monetary policy, gold and Brexit, hitting more than .300. – The Wall Street Journal
Looking Ahead
Federal interest rate speculation continues. Janet L. Yellen, chairwoman of the Federal Reserve, is scheduled to speak on Friday at the Fed’s annual symposium in Jackson Hole, Wyo. — a meeting that she missed last year. Listeners will be parsing her words attentively as they determine whether the central bank will perhaps raise interest rates in September, with some economists saying that strong employment reports offer a solid basis for action. Others say that a wider and more mixed view of the economy argues in favor of waiting. The Fed last raised rates in December, after leaving them low for almost a decade. – Phyllis Korkki