The Presidential Daily Brief

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  1. Optimism, Cheap Debt Fuel Mega-Mergers

    It was a manic Monday. Actavis announced a $66-billion bid for Botox-maker Allergan, and Halliburton said it would buy rival Baker Hughes for $34.6 billion, seeking to combine two of the world’s largest oil services firms. The $100-billion surge in deal-making put annual global mergers and acquisitions at $3.1 trillion, the highest since before the financial crisis. But workers won’t get to revel in the merger-mania — wages are stagnant, hiring is slow and layoffs tend to loom after consolidations.

    NYTUSA Today, WSJ (sub)

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