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Live Nation Entertainment CEO Michael Rapino has called for US Congress to regulate the ticket resale industry after tickets for the British band Oasis' upcoming tour were targeted by robots and resold at higher prices. Rapino suggested capping ticket resale prices at a 20% markup to prevent middlemen from profiting without investing in the business. Live Nation, the world's largest concert promoter, has faced criticism for ticket availability and prices, and is currently facing a lawsuit from the US Justice Department and a group of states for alleged monopolization of the concert ticket business. Despite this, the company has seen a surge in sales as venues reopen after the pandemic. [Extracted from the article]

(Bloomberg) -- Sanofi's Lantus, its most commonly prescribed insulin, will sell for $35 a month through GoodRx Holdings Inc. in a deal that signals the drug-discount site's growing business with large pharma companies. In Sanofi's deal with GoodRx, patients with a prescription can obtain a coupon to get Lantus for $35 at more than 70,000 participating US pharmacies. [Extracted from the article]

A group of European energy ministers is also pushing to impose price caps on all imported gas, as the bloc grows increasingly desperate to prevent price surges from hammering the economy. (Bloomberg) -- European Union energy ministers asked the bloc's executive arm to come up with urgent steps to provide liquidity to energy traders clobbered by massive margin calls and to skim off energy companies' windfall profits so the funds can be redirected to struggling consumers. [Extracted from the article]

(Bloomberg) -- European Union energy ministers said Friday that the bloc's executive arm should deliver urgent proposals to provide liquidity to energy traders clobbered by massive margin calls and to skim off energy companies' windfall profits so the funds can be redirected to struggling consumers. EU Energy Commissioner Kadri Simson said the bloc will proposed "unprecedented" measures next week as countries face daunting challenges. [Extracted from the article]

(Bloomberg) -- Belgian Prime Minister Alexander De Croo warned that Europe needs to act immediately to address the energy crisis or risk the kind of fundamental economic shutdown that the bloc would struggle to recover from. De Croo said the European Union should impose a broad price cap on gas trading in the bloc without delay if it wants to save its industries from a shutdown. EU Economy Risks "Full Stop" on Energy Crisis, Belgium Warns. [Extracted from the article]

SpaceHey promises "no algorithms, notracking, and no personalized Ads - Feeds on SpaceHey arechronological and there is no suggested content beggingfor your attention." (Bloomberg) -- Tens of thousands of people are flockingto a new social website that resurrects the look and feelof MySpace from the early 2000s in all its primordialglory. [Extracted from the article]

Brooks says America's exceptional recovery may spell trouble for the rest of the world if stimulus-driven inflation leads to earlier monetary tightening. "What's striking is just what an outlier the U.S. is, when you actually put all the countries' supply-chain statistics next to each other", says Robin Brooks, the IIF's chief economist. [Extracted from the article]

Brooks says America's exceptional recovery may spell trouble for the rest of the world if stimulus-driven inflation leads to earlier monetary tightening. "What's striking is just what an outlier the U.S. is, when you actually put all the countries' supply-chain statistics next to each other", says Robin Brooks, the IIF's chief economist. [Extracted from the article]

Brooks says America's exceptional recovery may spell trouble for the rest of the world if stimulus-driven inflation leads to earlier monetary tightening. "What's striking is just what an outlier the U.S. is, when you actually put all the countries' supply-chain statistics next to each other", says Robin Brooks, the IIF's chief economist. [Extracted from the article]

(Bloomberg) -- A New York jewelry wholesaler admitted he ran a $200 million Ponzi scheme, falsely telling investors he was using their money to buy jewelry at "closeout" prices and reselling it at markups of 30% to 70%. Instead, prosecutors said, Gregory Altieri admitted on Wednesday that he used money from new investors to repay earlier investors. [Extracted from the article]

Market power is rising modestly across rich countries: IMF Corporate market power increased moderately between 2000 and 2015, with price markups increasing by 8 percent, the IMF said in an analysis accompanying its latest World Economic Outlook. [Extracted from the article]

World economy has weakened since IMF's last forecast: Lagarde Global growth has lost momentum since the start of the year, leaving the world economy in a "precarious" position, IMF Managing Director Christine Lagarde said. [Extracted from the article]

(Bloomberg Opinion) -- Local Markets Are Giving Monopolists a Hard Time: Noah Smith As top companies like Wal-Mart expand into more and more areas, they increase local competition, because suddenly all the existing smaller companies in the area have to compete with them. [Extracted from the article]

The Japanese carmaker's estimate underscores the global nature of the auto supply chain: Tariffs aimed at imports won't spare U.S.-manufactured vehicles because they inevitably contain components sourced from overseas. The price of an average U.S.-produced car will rise by at least $1,262 under the Trump tariffs, according to the National Taxpayers Union Foundation. [Extracted from the article]

Genscape is said to report crude stock rise at key Cushing hub The Saudi oil price increase means "they must be feeling pretty confident about the demand situation, but the Cushing build did offset some of that enthusiasm", said Phil Flynn, senior market analyst at Price Futures Group Inc. in Chicago. [Extracted from the article]

(Bloomberg View) -- L.L. Bean Will Rue Lifetime Guarantee Curb: Scott Duke Kominers L.L. Bean Will Regret Ending Lifetime Product Guarantee. [Extracted from the article]

PDVSA, nation owe $705 million in coupon payments in February Some money managers still expect Venezuela to follow through on its principal payments, although it will be a long wait. [Extracted from the article]

Of the 38 works Rybolovlev bought from Bouvier, Sotheby's had a hand in the sale of nearly one-third of them to Bouvier, according to court filings. In October, Rybolovlev's legal team asked the judge, Jesse Furman, to allow them to use the documents for a lawsuit in the U.K., where they say they plan to sue Sotheby's, Valette and Bouvier. Sotheby's sold works to Bouvier as a principal and had no knowledge of any deals between Rybolovlev and Bouvier, it said in a statement. [Extracted from the article]

(Bloomberg Gadfly) -- Stitch Fix Cracks Code of How to Be Tech Without Tech: Gadfly I asked for some help recently from Dayna Grayson, a partner at NEA, a venture-capital firm that backs some not-really-tech consumer startups including mattress seller Casper Sleep Inc. and anti-brand online grocer Brandless Inc. The company's gross margin -- revenue minus costs for merchandise, shipping orders and related expenses -- also is highly sensitive to how well Stitch Fix manages inventory. [Extracted from the article]

Demand for products from cage-free flocks may lag for years Oversupply has pummeled the industry: "It's been bad". [Extracted from the article]

Standing in Pace MacGill, an art gallery in midtown Manhattan, the art market researcher-cum-entrepreneur Magnus Resch opened an app on his iPhone and beamed. If that artwork is new to the Magnus database, the app will log and tag it, and the art viewer has the option of manually adding its price. [Extracted from the article]

(Bloomberg) -- Here's a Surprising Fact About the Smartphone Market: Gadfly Samsung's blockbuster earnings Thursday gave voice to a growing whisper about a surprising trend in the global smartphone market. But a tripling in first-month shipments for the Galaxy S7 compared with the S6 a year earlier probably reflects renewed demand for premium devices that stand out from an increasingly noisy and crowded catalog of mid- and low-tier smartphones.(1460013841405). [Extracted from the article]

Finra plans "report cards" on potentially manipulative trading Finra, a market cop funded by Wall Street, expects brokers to use the assessments to root out any misconduct, the regulator said Tuesday in its annual letter on exam priorities. The report cards will flesh out cases in which Finra suspects a trader has spread their phony orders across different brokers, mainly to obscure the strategy from Wall Street firms and regulators. [Extracted from the article]

"We have, without informing clients, worked limit orders at levels (i.e., prices) better than the limit order price so that we would earn a spread or markup in connection with our execution of such orders". So the Justice Department didn't like that JPMorgan, and most of the FX-manipulating banks,(1432228766687) "added markup to price quotes using hand signals and/or other internal arrangements or communications." The idea here is that clients wanted to get a price directly from the trader, thinking that that might be an "objective" or "best" price, without the salesperson's added markup. So they'd make the salesperson talk to the trader while the client was on the phone, so the client could hear what the trader said. [Extracted from the article]

Canada will regulate how much the country's dominant phone carriers can charge rivals to use their wireless networks as the government seeks to boost competition in the lucrative industry. BCE Inc., Rogers Communications Inc. and Telus Corp., which together control 90 percent of the market, will be restricted to charging only their costs plus a markup, said the Canadian Radio-television and Telecommunications Commission Tuesday in a ruling. The decision is in line with the federal government's drive to increase competition and bring down wireless prices for consumers by fostering a fourth national wireless carrier. [Extracted from the article]

Indonesia's incoming president Joko Widodo will need to move bureaucracy online across the world's largest archipelago to better tackle corruption, the country's financial crime agency said. Widodo, known as Jokowi, moved budget procurement and tax collection online as governor of Jakarta, and has vowed to make national government services electronic. [Extracted from the article]