Your daily dose of financial news The Brief – 11.16.15

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Global stocks are down—but not dramatically—this morning in the continuing aftermath of the tragic weekend attacks in Paris – Bloomberg

News emerged Friday afternoon that Barclays and a proposed class over “over-the-counter” investors reached a deal to resolve Libor-manipulation claims for a reported $120 million. The agreement includes antitrust claims that were the subject of oral argument before the Second Circuit that very same day (still an issue for the remaining plaintiffs) – Law360

And while we’re at it on rate rigging, how about Euribor—the euro interbank offered rate. The UK’s Serious Fraud Office has begun criminal proceedings against 10 former and current Barclays and Deutsche Bank employees for manipulation of that global benchmark rate – NYTimes

With a December liftoff still looking likely (at least for now), bond traders are prepping for higher—but not substantially higher—rates thanks to an environment that makes long-term Treasury yield normalization unlikely any time soon – WSJ

The Times continues its investigation into the rise of arbitration and its impact on consumers by assessing the political and media battlefield and some of its largest players: the Consumer Financial Protection Bureau vs. the US Chamber of Commerce – NYTimes

A year of mega-mergers pulls in the hospitality industry with a $12.2 billion Marriott/Starwood deal in the works – Bloomberg

Big Blue’s looking for a renewed emphasis on design to help chart a new course for the behemoth that’s seen 2 years of declining revenues. It’s going to  be an interesting experiment – NYTimes

With NY AG Eric Schneiderman attempting to put the kibosh on daily fantasy sports in his state, the two biggest players in that arena—DraftKings and FanDuel—have filed lawsuits opposing his cease-and-desist orders last week. The ongoing drama puts banks and payment processors squarely in the middle between big money and big enforcement – Law360 and WSJ

Criticized by some for its corporate tax rates viewed as extremely business friendly [see, e.g., Pfizer’s Allergan ambitions], Ireland’s cutting back on some of its tax loopholes while turning to a new inducement aimed at “patent-heavy industries like technology and pharmaceuticals” – NYTimes

Instamoms and Babyccinos. Come on 2015, make it stop.  Please – NYTimes

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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