Fed Puts June Rate Increase on Table Provided Economy Says Go (Bloomberg)
Minutes of the April 26-27 Federal Open Market Committee meeting released Wednesday in Washington used the word “June” six times in a policy context. That signal follows several speeches by regional Fed bank presidents warning investors not to dismiss a mid-year hike after the odds of such a move edged close to zero.
Activist Investors Ally to Form Lobby Group (WSJ)
Billionaire investors Paul Singer, Carl Icahn, Barry Rosenstein, William Ackman and Daniel Loeb are setting aside their political differences to launch a Washington-based lobbying group to fight mounting attacks on shareholder activism. Dubbed the Council for Investor Rights and Corporate Accountability, or Circa, it is the first coordinated effort by activists to make their case to lawmakers and the American public that their investment strategy helps, rather than harms, companies and the U.S. economy.
Trump Invested in Outsourcing Companies He Denounced in Campaign (Bloomberg)
Trump has denounced units of United Technologies Corp., Ford Motor Co. and Mondelez International Inc. on the campaign trail -- and has received income of as much as $75,000 from bonds issued by all three since January 2015, according to his latest financial disclosure form released Tuesday. He also has invested in Apple Inc.’s stock and bonds even though in February he called for a boycott of the company for refusing to help the Federal Bureau of Investigation unlock an iPhone used by a terrorist in San Bernardino, California.
Ex-Goldman banker took cash from lawyer linked to Malaysian scandal: report (NYP)
Tim Leissner, the ex-Goldman Sachs banker in the middle of a $6 billion international embezzlement scandal, accepted hundreds of thousands of dollars from an official linked to a Malaysia wealth fund that is under investigation, according to a report on Wednesday. Leissner, who was seen strolling carefree around Manhattan last Sunday with his baby and model wife, Kimora Lee Simmons, got the cash from Jasmine Ai Swan Loo, a lawyer formerly with 1Malaysia Development Bhd. (1MDB), the fund from which the $6 billion went missing, according to the Wall Street Journal, which first reported on the matter. It’s not clear what the connection is between the two. The Justice Department, which is probing the missing cash, has subpoenaed the banker.
Fresh from jail, Screech tells all to A.C. Slater (NYP)
After spending three months in jail for allegedly stabbing a man in a 2014 Christmas bar fight, Dustin Diamond is ready to move on with his life. “I want to put the tomfoolery and malarkey behind me … for that clean slate,” he told his fellow “Saved by the Bell” alum, “Extra” host Mario Lopez, on Tuesday. “Time for a change.” Diamond, 39, was recently released from Ozaukee County Jail in Wisconsin. “It’s pretty daunting, it’s pretty scary going into the environment,” the former child star revealed. “I found that as long as you follow the rules and stay with the system, it works. You can get in and out unscathed.” He was originally sentenced to four months but was released a month early for working as a janitor. Diamond also gave his version of events, saying the pocket knife he drew in the scuffle only nicked the man on the arm.
Theranos Voids Two Years of Edison Blood-Test Results (WSJ)
Theranos Inc. has told federal health regulators that the company voided two years of results from its Edison blood-testing devices, according to a person familiar with the matter. The Edison machines were touted as revolutionary and were the main basis for the $9 billion valuation attained by the Palo Alto, Calif., company in a funding round in 2014. But Theranos has now told regulators that it threw out all Edison test results from 2014 and 2015.
Freakish Diamond Pulled From Sub-Arctic Ice Is About to Go on Sale (Bloomberg)
It was buried in a place where big gem-quality diamonds aren’t supposed to exist. A Rio Tinto Group ore processor was configured to discard it. And what saved the diamond’s 187.7 carats from being pulverized was a fluke: Its unusual, elongated shape allowed it to slip sideways through a filtering screen. “It really is a miracle that it was found,’’ said Alan Davies, chief executive officer of diamonds and minerals for Rio Tinto, the operator of Canada’s Diavik mine, Foxfire’s former home. “It’s a rare find, a really rare find.”
JPMorgan Investor Suit Tied to Madoff’s Fraud Is Dismissed (Bloomberg)
An investor suit claiming JPMorgan Chase & Co. ignored red flags about Bernard Madoff’s Ponzi scheme and profited from doing business with the con man was dismissed by a federal judge in New York. The investors waited too long to sue and failed to show that JPMorgan had any control over Madoff’s actions, U.S. District Judge John Koeltl ruled Wednesday.
Bartolo Colon trademarks ‘Big Sexy’ nickname for possible athletic apparel line (NYDN)
The New York Mets hurler applied last month for a trademark of the moniker, which he hopes to use on athletic apparel, records show. The Big Sexy brand got a big boost at Christmas last year, when Noah Syndergaard tweeted an image of his family wearing t-shirts with an image of Colon’s face. ESPN reporter Darren Rovell, who first reported on the trademark application, tweeted that Colon intended to use the name on “shirts, pants and hats.”