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Wednesday, March 22, 2017

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Mukemmel Sarimsakci, a real estate executive who goes by Mike, or “Turkish Trump.”
Jake Dean

Mukemmel Sarimsakci, a real estate executive who goes by Mike, or “Turkish Trump.”

President Trump pledged that his business would avoid overseas deals during his tenure. But his company is pursuing a hotel project with a firm with deep foreign connections.

North Korea Said to Be Target of Inquiry Over $81 Million Cyberheist

The U.S. attorney’s office in Los Angeles is said to be examining the extent to which the North Korea government aided the theft of $81 million from the Bangladesh central bank.

AT&T and Johnson & Johnson Pull Ads From YouTube

The companies cited concerns that Google was not doing enough to prevent brands from appearing next to offensive material, like hate speech.

Foreign Growth ‘Off the Table’: Conversation With Trump Hotel Chief

Eric Danziger, who is contending with a thicket of ethical considerations, says the company will not be “growing the brands outside the United States.”


Alternative Endings Seen for Sears and Its Hedge Fund Chief

Edward S. Lampert’s long quest to turn the storied retailer around looks destined to fail, but along the way he has hedged some of his bets.

China Bets on Sensitive U.S. Start-Ups, Worrying the Pentagon

Beijing is pushing Chinese firms to invest in early-stage U.S. companies specializing in technology with potential military applications, a new report says.

Akzo Nobel, Maker of Dulux Paint, Rejects 2nd Offer From American Rival

The Dutch company turned down a new takeover bid from PPG Industries of Pittsburgh that valued it at $24 billion.

Morning Agenda: The ‘Trump Trade’ Faces a Test

The decline in major stock indexes may indicate investors’ optimism and composure may be waning.

State of the Art

Trump Says Regulations Impede. Perhaps Not in the Electric Car Business.

Sometimes the only way to push technology advances is through rules. Loosening the ones on fuel economy could leave the car industry out of step with the future.

A.I. Expert at Baidu, Andrew Ng, Resigns From Chinese Search Giant

The departure is a blow to Baidu, which has been betting big on artificial intelligence as a foundation to fields like voice recognition and driverless cars.

Survival of Sears and Kmart Is in Doubt, Owner Warns

With losses mounting, Sears Holdings Corporation said in its annual report that there were “substantial doubts” it could continue operating.


Mr. Trump Goes After Consumer Financial Protection Bureau

The bureau has been doing what the president pledged to do in his campaign: protecting Americans from a system that has “robbed our working class.”

Market Dip Bucks a Streak of Trump-Inspired Optimism

The Standard & Poor’s 500-stock index had gone 64 consecutive trading days without declining more than 1 percent in a trading session.

Uber Board Stands by Travis Kalanick as It Reveals Plans to Repair Its Image

In a conference call with executives, Uber presented a list of changes it plans to make to improve morale and repair its tarnished reputation.

In Stark Terms, Ex-Chairman of Dean Foods Describes Passing Along Tips

Thomas Davis, testifying in a case against the gambler William Walters that also involves the golfer Phil Mickelson, made an extraordinary admission of malfeasance.

After Failed Cabinet Bid, Puzder Leaves Restaurant Post

Andrew F. Puzder, who withdrew his nomination as labor secretary, has now resigned as head of the company that owns the Carl’s Jr. and Hardee’s chains.

Deal Professor

Dole Case Illustrates Problems in Shareholder System

Some Dole shareholders may not get a piece of a recent settlement. While shareholders think they own the shares they buy, they don’t in a sense.


After Exiting Capital Controls, Iceland Still Wary of Private Investors

Iceland and Greece offer contrasting experiences for foreign investors in banks. Yet as rare examples of European capital controls, both remain risky.

Insight & Analysis
White Collar Watch

There Are No Perry Mason Moments in Insider Trading Cases

In white-collar crime, professions of innocence based on lack of intent cannot be proved or disproved by DNA or other physical evidence.

Book Entry

Review: In ‘Spider Network,’ an Intriguing Tale of Complicity

David Enrich’s story of Britain’s Libor banking scandal reveals a financial culture in which success is defined by the outcome of the next trade.

Deal Professor

Should Agencies Decide Law? Doctrine May Be Tested at Gorsuch Hearing

The Supreme Court nominee, Neil M. Gorsuch, is a critic of Chevron deference, a doctrine that says courts should defer to a federal agency’s interpretation of the law.

Another View

Focus on Bank Culture Is an Odd Regulatory Strategy

Ethical banking codes can be a useful complement to capital rules, but they’re no substitute for regulation, and should be secondary.

Special Sections
Special Section
DealBook: That Happened. Now What?

“If you were to look at our game board of all the possible outcomes of the election, this one wasn’t even on the sheet.”

Markets »

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Another View

Opinion Contributors

Book Entry

Jonathan A. Knee


Reuters Commentary

Deal Professor

Steven Davidoff Solomon

DealBook Column

Andrew Ross Sorkin

In Debt

Stephen J. Lubben

Street Scene

William D. Cohan

White Collar Watch

Peter J. Henning