Deutsche Bank May Punish Employees for Personal Trade With Firm (Bloomberg, earlier)
Deutsche Bank AG halted bonus payments to a group of employees while examining whether they improperly traded with the firm...The internal review focuses on Deutsche Bank’s efforts in 2009 to profit from differences in prices of credit indexes and the underlying debts that compose them, according to a person with knowledge of the situation. Six employees participated in their personal accounts alongside an external hedge fund, the person said, asking not to be identified because the review is confidential. The bank began scrutinizing the trading last year after it was flagged amid a broad push to reduce leverage, the person said.
Yahoo Suitors Expected to Bid Below Past Indications (WSJ)
Verizon Communications Inc. and others are expected to bid around $2 billion to $3 billion in the auction for Yahoo Inc.’s core business, less than what the troubled Internet pioneer was expected to fetch, according to people familiar with the matter...As recently as April, people close to the process said Yahoo’s core business would likely go for between $4 billion and $8 billion.
Valeant Gets Notice of Default From Bondholders on Late 10-Q (Bloomberg)
Valeant Pharmaceuticals International Inc. received a notice of default from some of its bondholders because of a delay in filing its first-quarter financial results, the company said Thursday. The notice from creditors started the clock on a 60-day grace period, giving Valeant until July 18 before the bondholders can demand immediate repayment if the company hasn’t filed the statement.
So Long, Fat Expat Packages. Fewer Bankers in Hong Kong Get Them Now (Bloomberg)
Long the golden privilege of the Hong Kong-based finance and banking crowd in Asia, the days of guaranteed housing allowances fat enough to rent a 4,000-square-foot harbor-view home on the Peak or a townhouse in exclusive Repulse Bay for HK$300,000 ($38,650) a month are gone. That perk is being slashed or eliminated, forcing expatriate finance types to give up marble Jacuzzis, private gardens and killer views in exchange for something humbler. And it’s putting a damper on the luxury rental market.
Pipe-wielding gas station worker busts slow-moving customer's tail light (UPI)
A California gas station worker was arrested after a witness recorded a confrontation that ended with the worker using a length of pipe to break a customer's tail light. Monet Dansereau posted a video to Facebook showing the employee at the Valero gas station Tuesday in Lancaster standing behind a customer's pickup truck and striking the vehicle with a length of hard plastic pipe while telling the customer to leave. "Go right now," the woman says in the video. "I told you to go. I told you two times." The man refuses to leave and says he is calling the police, leading the woman to use the pipe to break his tail light. "I told you to move and you do not move," the worker says. "The customer is not right."
President Trump or Clinton Won’t Affect U.S. Economy: Dinan (Bloomberg)
If either Clinton or Trump becomes president, “it’s really not going to affect our economy and affect our businesses,” Dinan, whose New York-based firm manages $19.3 billion, said on Fox Business Network’s Wall Street Week, which is scheduled to air Friday. “I actually think the U.S. economy is stronger than a lot of people are willing to admit.”
Lawyer: SEC should look into Goldman's Tesla call (CNBC)
Andrew Stoltmann, a self-described "Goldman critic," said he believes Wednesday's roller-coaster ride for Tesla stockholders represents the bank employing a "Swiss-cheese wall" between divisions instead. He's not alone; Twitter lit up with conspiracy theories and accusations after the deal was announced.
Lawsuit Claims Another Global Banking Hack (WSJ)
A little-noticed lawsuit details a hacking attack similar to one that stole $81 million from Bangladesh’s central bank, saying cybercriminals stole about $9 million last year from a bank in Ecuador. The case suggests global bankers haven’t been sharing critical information to prevent such heists.
Sir Mix-a-Lot defends Blake Lively's 'Oakland booty’ photo caption (NYDN)
Hip hop star Sir Mix-a-Lot defended the actress a day after she was lampooned on social media for using a lyric from his seminal hit "Baby Got Back" to caption a photo of her derriere in a form-fitting gown. "I don't think she'd wear that dress if she thought that booty is horrible — and to me, it ain't horrible," he told the Daily News on Thursday. Despite his approval, a slew of fans blasted Lively for captioning the Instagram photo "L.A. face with an Oakland booty" — with some accusing the Caucasian starlet of turning the black female body into a punchline. Hip hop star Sir Mix-a-Lot defended the actress a day after she was lampooned on social media for using a lyric from his seminal hit "Baby Got Back" to caption a photo of her derriere in a form-fitting gown. "I don't think she'd wear that dress if she thought that booty is horrible — and to me, it ain't horrible," he told the Daily News on Thursday. Despite his approval, a slew of fans blasted Lively for captioning the Instagram photo "L.A. face with an Oakland booty" — with some accusing the Caucasian starlet of turning the black female body into a punchline.