| Thursday, May 28, 2015 |
TOP STORY Avago Agrees to Buy Broadcom for $37 Billion The rival companies have little overlap in their chip and semiconductor products, but by combining, they could gain negotiating power with manufacturers.  | Breakingviews: Avago Deal Offers Blueprint for Chip Maker Consolidation Avago Technologies' $37 billion deal for rival chip maker Broadcom appears to be a textbook merger case, though it leaves room for a rival suitor. | |
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DEALBOOK HIGHLIGHTS Kaisa Takeover Bid by Sunac Is Dropped The holding company Sunac had said that the heavily indebted Chinese property developer would have to restructure its finances with creditors. Book Entry: In 'Inequality,' a Respected Scholar Wades Into a Contentious Political Issue The new book by Professor Anthony B. Atkinson fails to add much to the increasingly polarized and rhetorical discussions of income inequality. Street Scene: S.E.C.'s Kara Stein Takes Aim at Deutsche Bank Wall Street banks have been able to escape any real penalty for wrongdoing, but for one S.E.C. commissioner, the line has finally been crossed. Senator Charles Grassley Asks S.E.C. to Explain False Bid on Database The senator requested that the agency review standards for posting on Edgar, which is used to file documents electronically. LOOKING AHEAD G.D.P. Correction Revised Commerce Department data on the gross domestic product, due out on Friday, is expected to show that the economy shrunk during the first quarter of the year. Earlier data on first-quarter G.D.P. indicated that the economy barely grew, at 0.2 percent. If analysts' predictions hold true for the revised data, it would be the first contraction in a year. Economists blame a bigger gulf than anticipated in the trade deficit, among other causes. Silk Road Sentencing Ross Ulbricht, the founder of the Silk Road, the online drug bazaar, will be given his prison sentence on Friday in federal court in Manhattan.
Mr. Ulbricht was convicted in February on seven counts related to his operation of the Silk Road, which grew into a huge global enterprise before Mr. Ulbricht's arrest in October 2013. The site was often compared to an eBay for drugs and relied on the Bitcoin virtual currency for payments.
The charges in Mr. Ulbricht's case carry a minimum sentence of 20 years. Federal prosecutors have argued that Mr. Ulbricht should be sentenced to a life in prison, in part because of the drug overdose deaths of six Silk Road customers that the government plans to discuss at the sentencing.
Mr. Ulbricht's lawyer has argued that the overdose deaths cited by the government cannot be directly attributed to the Silk Road, and that the site actually created a safer environment for drug users who would otherwise have had to buy from street dealers. |
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Quotation of the Day "For Kaisa, it's really a case of whether they can find another white knight."
Annisa Lee, an analyst in Hong Kong at Nomura International. |
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