- Johnson & Johnson borrowed $7.5B at historically cheap yields to fund a planned $6.5B acquisition of Momenta Pharmaceuticals.
- Boeing is preparing to offer further voluntary buyouts to its employees, extending its workforce cuts beyond the original 10% target unveiled in April.
- Western U.S. power prices hit records as California warns of more outages during a record-breaking heat wave.China and the U.S. will meet in the coming days to discuss the progress of the Phase 1 trade deal reached in February.
Regulatory Chatter and Industry Trends
- The DOL released an interim final rule on lifetime income illustrations. The interim final rule includes assumptions plan administrators must use to calculate estimated lifetime benefit payments to be included on retirement plan participants statements.
- iHeart Communications faces a 401(k) Excessive Fee Suit. The 401(k) plan fiduciaries are accused of failing to negotiate for better fees, switch to collective investment trusts and switch to lower-cost share classes for investments.
Investment Manager Newsa
Joy Facos will support Carillon’s affiliates and coordinate ESG data and corporate engagement.
Gross Domestic Product – August 27, 2020
Jobless Claims – August 27, 2020
Baker-Hughes Rig Count – August 28, 2020