JPMorgan Moves to Put the Epstein Case Behind It
Summary
To prevent more of the kinds of scandals that plagued Credit Suisse, UBS has reportedly imposed restrictions on its former rival’s bankers, including a ban on doing business with countries like Libya and Venezuela. Last week’s stunning announcement came together quickly: a clandestine meeting in Venice between Jay Monahan, commissioner of the tour, and Yasir al-Rumayyan, the governor of Saudi Arabia’s $700 billion sovereign wealth fund, proved decisive. In fact, this deal is so wildly and comically against the law that I actually don’t think it is intended to close.” Mr. Monahan may have fed that narrative when he said last week that a PGA-LIV alliance was good for the sport as it would “take the competitor off the board.” The PGA Tour board would need to approve it. Mr. Icahn had sought to oust Mr. deSouza, arguing that Illumina’s $7 billion takeover of the cancer-detection specialist Grail was a mistake, especially after the company moved forward with the deal despite European regulators seeking to block it. Though shareholders re-elected Mr. deSouza (who also serves as a Disney director) to the Illumina board last month, he faced opposition from the company’s newly appointed nonexecutive chairman, Stephen MacMillan, according to The Wall Street Journal.
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