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Thursday, June 22, 2017

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Martin Shkreli arriving at the Federal District Court in Brooklyn on Monday, followed by members of his legal team.
Mark Lennihan/Associated Press

Martin Shkreli arriving at the Federal District Court in Brooklyn on Monday, followed by members of his legal team.

The former hedge fund manager, vilified by the public and politicians after increasing the price of a prescription drug, is facing eight counts of securities and wire fraud.

Shares Plunge as China Voices Concern Over ‘Systemic Risks’

Without naming specific companies, a senior banking official said that regulators were looking into the affairs of large companies that could trouble Chinese banks.

In Qatar Airways, American Airlines May Have an Unwanted Suitor

The unsolicited approach comes amid criticism from United States carriers that Persian Gulf competitors have an unfair advantage.

Ten Years After Going Public, Blackstone Stock Hasn’t Budged

Blackstone has expanded its assets under management and successfully sold many assets. But the private equity firm will have to do more to win over wary investors.

Tesla Is in Talks to Set Up a Car Factory in China

The company said foreign production was needed to make cars more affordable overseas. Its plan for a Shanghai plant would require a Chinese partner.

Scenes From Martin Shkreli’s Journey to Federal Court

He raised a drug’s price to nearly $750 a pill from $13.50 and became the smirking symbol of drug industry greed. He is to be tried on fraud charges.

Common Sense

An Index-Fund Evangelist Is Straying From His Gospel

Burton Malkiel, author of “A Random Walk Down Wall Street,” says looking for market inefficiencies can beat passive investing, which he long endorsed.

Silicon Valley Investors Flexed Their Muscles in Uber Fight

Start-up financiers have deferred boardroom control to founders in recent years. Travis Kalanick’s ouster indicates that could be changing.

Inside Travis Kalanick’s Resignation as Uber’s C.E.O.

At a Chicago hotel on Tuesday, two venture capitalists presented Mr. Kalanick with a list of demands, including his resignation by the end of the day.

Amid Tumult at Uber, Bill Gurley Is Said to Be Leaving Board

An early supporter of Travis Kalanick, he will be replaced by Matt Cohler, a fellow partner at the venture capital firm Benchmark, a person familiar with the move said.

George Clooney’s Tequila Company Sold for Up to $1 Billion

Casamigos, which the actor founded with the entertainment impresario Rande Gerber, drew the attention of the spirits giant Diageo.

Consumer Agency Seeks to Hold South Carolina Company in Contempt

A legal move shows the Consumer Financial Protection Bureau is proceeding with an inquiry into seller financing of homes aimed at lower-income Americans.

When Helicopter Parents Hover Even at Work

The father of the basketball star Lonzo Ball has taken an assertive role in his son’s career, reflecting a larger trend as millennials come of age.

A Kansas Investment Firm Spurring Change on Wall Street

Creative Planning is at the vanguard of a profound shift in finance — from firms peddling products for a fee toward independent, low-cost advice.

Former Enron Prosecutor Leslie Caldwell to Join Latham & Watkins

The former senior federal prosecutor will become a partner in the law firm’s white-collar defense and investigations practice in San Francisco.

Uber’s Growing Pains (and Possible Remedy)

The departure of chief executive Travis Kalanick is good news for Uber, but there is still a risk he will try to keep driving from the back seat.

State of the Art

Uber’s Lesson: Silicon Valley’s Start-Up Machine Needs Fixing

Travis Kalanick, who stepped down as Uber’s C.E.O., had many enablers who turned a blind eye to the company’s faults because it was growing quickly.

Vanke Founder Wang Shi, Chinese Property Developer, Steps Down

Famous for his real estate acumen and for his mountain climbing, Mr. Wang found his position threatened by a rare Chinese hostile takeover attempt.

Morning Agenda: Travis Kalanick Resigns as Uber Chief

Pressure from five of Uber’s biggest outside shareholders prompted the founder of the ride-hailing titan to step down.

Insight & Analysis
DealBook

Conglomerates Didn’t Die. They Look Like Amazon.

Just as investors were mourning the demise of the old-style conglomerate, Jeff Bezos’ company announced it would stretch its boundaries by buying Whole Foods.

White Collar Watch

Billions’ Worth of Baubles Could Wind Up in U.S. Hands in 1MDB Case

The rights to “Dumb and Dumber To,” a Picasso painting, a diamond and real estate are among the assets being sought from a Malaysian investment fund.

Special Sections
Special Section
DealBook: Business Goes to Washington

“We are absolutely destroying these horrible regulations that have been placed on your heads.” — President Trump.

Editors’ Picks
The Housing Trap

Seller financing can become a money trap for low-income buyers.

Markets »

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Columns

Another View

Opinion Contributors

Book Entry

Jonathan A. Knee

Breakingviews

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