Amazon, Berkshire, JPMorgan to Create Healthcare Company [Bloomberg]
Amazon, Berkshire Hathaway and JPMorgan have announced plans to create an independent company focused on technology solutions “that will provide U.S. employees and their families with simplified high-quality and transparent healthcare at a reasonable cost,” Bloomberg News reports.
The company will be free from profit-making incentives and constraints, according to a statement.
Yellen Leaving Fed With Full Employment, Increased Focus on Labor Market [WSJ]
Ms. Yellen, an expert in labor markets, urged greater attention to the costs of joblessness in steering the Fed to undo those emergency measures very slowly.
Her legacy is only partly written. The rest depends partly on whether the Fed can continue lifting rates gradually, but not so slowly that low borrowing costs fuel an asset bubble that ends in recession—as happened in 2001 and 2007.
Ms. Yellen leads her last policy meeting Tuesday and Wednesday, at which officials are likely to vote to hold their benchmark short-term rate steady in a range between 1.25% and 1.5%.
US Treasury releases list of Russian oligarchs linked to Putin [CNBC]
The department made clear that this was not a sanctions list, though many of the individuals on the list are already subject to U.S. sanctions. It does however highlight a number of wealthy Russians who are close to President Vladimir Putin that could be at risk of sanctions.
“The inclusion of individuals or entities in any portion of the report does not impose sanctions on those individuals or entities. Nor does it create any other restrictions, prohibitions, or limitations on dealings with such persons by either U.S. or foreign persons,” the Treasury said in an accompanying statement late on Monday.
Exclusive: Blackstone in talks to buy majority stake in key Thomson Reuters unit [Reuters]
U.S. private equity firm Blackstone Group LP is in advanced talks to buy an approximate 55 percent stake in the Financial and Risk business of Thomson Reuters Corp, a deal that would value the unit at about $20 billion including debt, three sources familiar with the matter said on Monday.
For His Next Act, Ken Chenault Turns His Focus on Silicon Valley [DealBook]
The recruiters can stop calling. On Tuesday, he will announce he has a new full-time job. Mr. Chenault, a name long synonymous with Wall Street, will soon become a staple of Silicon Valley as a venture capitalist. He will be chairman and managing director of General Catalyst Partners, one of the most successful venture firms of the past two decades, with stakes in companies like Airbnb, Snap, Stripe and Warby Parker.
Apple to Cut iPhone X Production in the Face of Weak Demand [WSJ]
Apple plans to make about 20 million iPhone X handsets in the first quarter, down from roughly 40 million initially planned, according to one person with knowledge of Apple’s production goals. Other people familiar with the iPhone supply chain said Apple had cut orders for components used in the iPhone X by 60%.
“They always do this when things aren’t selling well. It’s a real headache,” one of the people said.
Record Crypto Heist Raises the Appeal of a New Type of Exchange [Bloomberg]
Hackers typically steal money from crypto exchanges by gaining access to their internet-connected wallet, which stores the funds of customers. Hackers have repeatedly cracked open the virtual vaults where they’re stashed, stealing billions of dollars worth of assets over the years.
Called decentralized exchanges, the newfangled markets being developed or already deployed by AirSwap, EtherDelta and others sidestep that vulnerability by giving up the vault entirely. Instead, their customers keep their private keys, needed to access their accounts, and transact with each other directly, or with minimal help.
Man convicted of stalking Jamie Dimon gets slap on wrist [NYPost]
Greg Waltman hounded the powerful banker over a four-year period, calling his office some 30 times and even showing up at his Park Avenue co-op to demand an in-person meeting three times, claiming the chief executive of the country’s largest bank had stiffed him.
“I’m here to see Jamie Dimon! Mr. Dimon owes me money,” the 32-year-old stalker told a doorman, during one of his trips to the tony address, according to court papers.
Woman orders a hat on Amazon – but is accidentally sent something illegal from Ukraine [Mirror]
A sauna hat is a hat people wear while they’re in the sauna to keep them feeling cool, even when their body temperature is rising (don’t worry, we had to Google it too).
Felt is a good insulator which means it’s perfect for keeping the air around your head cool.
But Meagan was actually sent something very very different.
Instead of her lovely hat, she got a Cuban cancer drug made from blue scorpion venom.