NY AG begins fantasy sports inquiry
New York Attorney General Eric Schneiderman opened an investigation late Tuesday into whether employees of DraftKings and FanDuel profited from insider-trading-like schemes. Federal lawmakers also called for additional scrutiny of short-term fantasy sports platforms on Tuesday, as the companies pushed back against critical media reports. DraftKings pulled its advertising from ESPN yesterday.
Volkswagen sets recall timeline
Mathias Mueller, CEO of embattled carmaker Volkswagen, said Wednesday morning that the company will start recalling diesel cars to replace software it used to evade emissions regulations in early 2016, with plans to wrap up the process by the year’s end. In the US, the EPA has to sign off on the process.
Budweiser parent ups bid for rival
Anheuser-Busch InBev has added some hops to its offer for SABMiller, which rejected an overture of about $100 billion earlier this week. The latest bid could see Budweiser’s parent company pay $104 billion to acquire its rival. Diageo and Heineken, meanwhile, have agreed to an asset swap in emerging markets. In M&A news for teetotalers, Peet’s Coffee & Tea agreed to acquire Stumptown Brewers on Tuesday. Update: The new offer wasn’t strong enough. SABMiller quickly rejected the latest takeover bid from Anheuser-Busch InBev, saying the $104 billion proposal was still too low.
Clinton email probe spreads
The FBI has expanded its investigation into former Secretary of State Hillary Rodham Clinton’s private email server to a second company, Connecticut-based Datto Inc. The company was hired in 2013 to back up Clinton’s email servers. Elsewhere, Bill Clinton appeared on the Late Show on Tuesday night, explaining Donald Trump’s "macho" appeal to GOP voters.
Polling blue chip drops out of the race
Gallup, whose name is synonymous with polling, told Politico it will no longer do horserace polls for the Democratic and Republican primaries, and may sit out the 2016 general election, as well. Other polling organizations have said they’re concerned about the accuracy of early primary polls.
Obama asks farmers for help with trade bill
President Barack Obama tried to enlist farmers on Tuesday in his push for the Trans-Pacific Partnership, which faces a skeptical audience in Congress. Obama asked agricultural leaders to encourage their congressmen to support the bill, which he said would grow their sales in new markets.