The Treasury Department of the United States of America has not accepted to give a response to the request of Ron Wyden, Senator of the United States, for some of the details of the financial arrangements between the drugmaker from Switzerland, Novartis AG, and President of the United States Donald Trump’s infamous legal counsellor, Michael Cohen, Bloomberg News reports a spokeswoman for the Democratic Senator and lawmaker said. On the other hand, Novartis is said to be cooperating fully, and is said to have given “substantial” responses in reply to the letter of Senator Wyden, who sent the chief executive…
Author: Gabriel Slaughter
Bloomberg news reports that stock valuations of companies are lacking in accuracy. They take as an example, Autodesk Inc., a software company. On paper, their accounts look like they are in complete disarray. The company has been losing money for the past three years, and the book value of the company — a value which is found once the assets are sold and the company’s debts are repaid — is a net negative. Nevertheless, over the past twelve months, the company’s stock valuation increased by twenty-three percent, which is almost twice the S&P 500. This is an extremely high valuation,…
Bloomberg News reports that the Shale boom is having a paradoxical effect on local economies in areas of shale production. “It’s fueling the region and starving it at the same time.” On the one hand, tax revenues have received a huge boost from shale sales, allowing local governments, such as Midland, Texas, to carry out sorely needed infrastructure repairs. On the other hand, low unemployment means that local businesses are finding it extremely challenging to retain their workers. The government of Midland, Texas, needs an additional 200 employees if it is to function properly. This town is in the country’s…
