Cannabis Stocks

America’s bankers: Uncle Sam picks his advisers

In a world crippled by an epic healthcare crisis and without any real mergers and acquisitions, the most coveted mandates for Wall Street advisory firms are the ones being handed out by Uncle Sam. PJT Partners, Moelis & Co and Perella Weinberg, three leading boutique investment banks, were selected on Thursday by US Treasury secretary Steven Mnuchin to help the federal government administer the $50bn rescue package for the airline and aerospace industry. For instance: Roger Altman, the founder of boutique adviser Evercore, had been rumoured as a potential lead administrator of Boeing’s bailout programme.

US agency sues to unwind Altria’s $12.8bn Juul investment

The Federal Trade Commission sued to unwind Altria’s $12.8bn investment into Juul on Wednesday, alleging the tobacco giant bought the stake to unlawfully eliminate competition in the sale of e-cigarettes. The claims are the latest blow to a troubled deal first struck in 2018 when Altria acquired a 35 per cent stake in Juul, a start-up whose vaping products dominated the US market. Since then, Altria has written off the majority of its investment as regulatory scrutiny over Juul’s marketing and the health effects of their products has mounted.

BRIEF-AB Inbev, On Sale Of Carlton & United Breweries To Asahi, Says Australian Regulator Granted Clearance Of Proposed Divestiture

Cronos: 4Q Earnings Snapshot

TORONTO (AP) _ Cronos Group Inc. (CRON) on Monday reported fourth-quarter net income of $62 million, after reporting a loss in the same period a year earlier. The Toronto-based company said it had profit of 16 cents per share. The results fell short of Wall Street expectations.