The topline of today’s news: What does the merger of the Disney and 20th Century Fox mean for consumers; New IRS rules mean a California farmer will only take home $2.5 million of a $80 million settlement from Monsanto, Lyft shares will list on Friday but is it worth $72 per share?
The Walt Disney Co. and 20th Century Fox are officially married. What will the merger mean for the hundreds of millions who watch Disney’s cartoons, films and TV shows? “Everyone thinks mergers are bad for the consumer, but I actually feel this is going to be incredibly pro-consumer,” says Jeff Greenfield, an industry consultant.
WOW Air was a bold experiment, but the airline was done in by the industry’s hard realities: high costs, low margins and hostile competitors.
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Jurors ordered Monsanto to pay Edwin Hardeman $80 million after concluding that the company’s Roundup product was a substantial factor in causing Hardeman’s non-Hodgkins lymphoma. But under new IRS rules, he may only pocket $2.5 million.
Maybe Lyft, with more than 50 million riders a year and over a $1 billion in revenue, really is worth the incredibly high valuation investors are putting on it.
Many of President Trump’s appointments have come under fire. Now his decision to nominate Stephen Moore, a former Reagan aide turned think tank pundit to the Federal Reserve’s board of governors is also being heavily criticized.
Investment advisors traditionally took at least 1% of assets in fees. That’s changing, and both old and new financial institutions such as Betterment, Charles Schwab and Vanguard have introduced products that cost just hundreds of dollars a year.
The fall of Wells Fargo continued with the departure of another CEO, Tim Sloan. Sloan said yesterday he was exiting the company immediately, turning over the top job to the bank’s general counsel.
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