Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.
DEI HIRING PROBE: The Trump administration is using the False Claims Act to investigate the diversity initiatives of major companies, including Alphabet (GOOG, <a>GOOGL
) and Verizon (<a>VZ), Lydia Wheeler of Wall Street Journal reports, citing people familiar with the investigations. The administration is probing companies in industries ranging from automotive and pharmaceuticals to defense and utilities, people familiar with matter told the paper. The Justice Department believes that holding a federal contract while considering diversity when hiring is fraud against the government that entitles it to recoup potentially millions of dollars, according to the Journal.
TRUMP TARIFFS: Bank of America (<a>BAC
) CEO Brian Moynihan believes the Trump administration will de-escalate trade tensions next year, Sarah Maddox of Bloomberg reports, citing comments made on CBS News’ Face the Nation. Bank of America sees “de-escalation, not escalation,” with an average 15% tariffs and higher rates for countries not committed to U.S. purchases. “To go from a 10% across-the-board to 15% for the broad base of countries – not a huge...
Anthem Blue Cross accused 11 Prime Healthcare hospitals of fraud in a lawsuit filed this week in a California federal court. The defendants submitted and were compensated for thousands of claims fo...