Your daily dose of financial news The Brief – 3.30.16

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Our top hits of the past week just keep on coming, including:

The Deal Professor reviewing the “snap judgments” on what led to Valeant’s current mess—explanations that include “Valeant as Enron,” a McKinsey-driven problem, the “Perils of R&D cuts,” and “The Hedge Funds,” to name a few – NYTimes

And Breakingviews’ take on the latest Anbang offer for Starwood (“risky, but worth it) – NYTimes

Plus, some additional detail on one of Andrew Caspersen’s biggest victims—the Moore Charitable Foundation, the “land, water and wildlife”-focused charity of hedge fund billionaire Louis M. Bacon—which Caspersen took for $25 million – NYTimes and WSJ

In long-awaited comments to the Economic Club of New York yesterday, Fed Chair Janet Yellen acknowledged a rough start to the economic year but drew faith from a “remarkably resilient” US economy that justified the Fed’s intention to “pursue a careful, patient course toward higher interest rates” this year – NYTimes and WSJ

The markets liked what she had to say – Bloomberg

Credit Suisse has asked a NY appeals court to reverse a lower court opinion allowing NYAG Eric Schneiderman’s $11.2 billion RMBS suit to move forward – Law360

Venture capital firms are raising money hand over fist this year, taking in roughly $13 billion—a pace not seen in more than 15 years—with endowments and pension funds leading the way in a quest for “higher growth in a low-return environment” – WSJ

Noted Apple partner Foxconn and Japan’s Sharp Corp. have agreed on a $3.5 billion takeover deal – NYTimes and WSJ

We’ve heard plenty in the past year about big banks facing cybercriminals.  So it was only a matter of time before hackers targeted the white shoe law firms who serve those banks—including Cravath and Weil Gotshal—with a suspected intent of gaining information to use in insider trading – WSJ and Law360

Wall Street may not be completely on board with Bitcoin, but it loves the blockchain tech that backs it – WSJ

Renewable energy giant SunEdison could soon be adding a big old “former-” to that moniker. Not only is its stock down 95% since last summer, but affiliate TerraForm noted in a recent SEC filing that SunEd faces a “substantial risk” of bankruptcy, and the SEC is investigating the company’s disclosures last fall about its cash position – WSJ and Bloomberg

Welcome to the brave new world of hybrid fruits (or frankenproduce, if you prefer)—including the mandarinquat, pink variegated lemon, baby kiwi, and dragon fruit – 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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