WASHINGTON-Wall Street's top cop is putting the screws to one of the world's biggest audit firms-and going after its lawyers, too.
As part of a $100 million enforcement action announced Tuesday against Ernst & Young, the Securities and Exchange Commission demanded the firm undertake a separate, follow-up investigation into the actions of its own lawyers and managers. The SEC accused EY of misleading regulators about an internal report of cheating on required ethics exams, and suggested the firm's lawyers and other executives were aware of the tip but failed to reveal it.
Analysis: Hong Kong, Chinese Markets Deepen Ties With ETF Connect
Chinese and Hong Kong regulators' decision to allow mutual trading of exchange-traded funds from next week not only expands investors' access to different asset classes but also signals Beijing's move to further strengthen financial linkages with one of Asia's most active stock exchanges.
The inclusion of eligible ETFs in the stock-trading link between the markets could improve liquidity in the overall market and allow investors to pick thematic or sector ETFs to gain exposure to Chinese industries such as new-energy vehicles and semiconductors, analysts said.
U.S. Expands Plan for Monkeypox Vaccines in Effort to Curb Outbreak
U.S. health officials said they are significantly expanding efforts to vaccinate people against monkeypox, a disease recently confirmed in more than 300 people around the country and thousands more in countries where it isn't typically seen.
The Centers for Disease Control and Prevention is now recommending vaccines for people with presumed exposure to the viral illness and not just confirmed exposure, federal health authorities said Tuesday. This latest recommendation also covers men who have sex with men who recently had multiple sex partners in a venue where monkeypox was known to be or in an area where the virus is spreading.
Citadel's Ken Griffin Loses $50 Million Bet in Billionaire Bout for Illinois Governorship
CHICAGO-Hedge-fund billionaire Ken Griffin lost his $50 million bet in the Illinois Republican primary for governor Tuesday after the suburban mayor he helped lift out of relative obscurity lost to a staunch conservative who benefited from Democratic advertising.
Darren Bailey, a southern Illinois farmer and state senator endorsed last weekend by former President Donald Trump, was declared the GOP winner by the Associated Press. He will face Democratic Gov. J.B. Pritzker, a billionaire and the nation's wealthiest elected official, on November's ballot.
Colombia Peace Commission Calls For Overhaul of Army and U.S.-backed War on Drugs
BOGOTA, Colombia-A panel investigating atrocities during Colombia's epic civil war called for overhauling the country's armed forces and critiqued the U.S.-backed war on drugs as part of its final report. The president-elect said he would consider the recommendations.
The report, made public Tuesday by a truth commission created as part of the government's 2016 peace pact with Marxist rebels, offered the most comprehensive study yet of the half-century conflict that has cost some 260,000 Colombian lives and forced millions to flee the war-battered countryside.
Lack of Progress on Deforestation Puts Net-Zero Targets at Risk, Study Says
Many big companies working in agriculture and other sectors that drive deforestation won't hit their climate targets without immediate action to protect forests, according to a study published on Tuesday.
The study, commissioned by the United Nations-affiliated Race to Zero climate campaign, analyzed the environmental programs of 350 companies in the forestry, land use and agriculture sectors that have a major impact on the world's forests. It found that 148 of those companies have committed to net zero but judged that only nine were making strong progress on curbing deforestation.
Write to email@example.com TODAY IN CANADA
Corus Entertain 3Q
Field Trip Health 4Q
mdf commerce 4Q
Shaw Commun 3Q
Expected Major Events for Wednesday
00:30/JPN: May Detailed Import & Export Statistics
05:00/JPN: Jun Consumer Confidence Survey
06:45/FRA: May Housing starts
08:00/GER: Jun Bavaria CPI
08:00/GER: Jun Brandenburg CPI
08:00/GER: Jun Hesse CPI
08:00/GER: Jun Baden-Wuerttemberg CPI
08:30/UK: May Capital issuance
08:30/GER: Jun North Rhine Westphalia CPI
09:00/GER: Jun Saxony CPI
11:00/US: 06/24 MBA Weekly Mortgage Applications Survey
12:00/GER: Jun Provisional CPI
12:30/US: 1Q Revised Corporate Profits
12:30/US: 1Q U.S. final growth figures for first quarter of 2022
14:00/US: May Metropolitan Area Employment & Unemployment
14:30/US: 06/24 EIA Weekly Petroleum Status Report
23:01/UK: May UK monthly automotive manufacturing figures
23:50/JPN: May Preliminary Industrial Production
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Wednesday
AMMO Inc (POWW) is expected to report $0.06 for 4Q.
Avid Bioservices Inc (CDMO) is expected to report $0.00 for 4Q.
Barnes & Noble Education Inc (BNED) is expected to report $-0.17 for 4Q.
Bed Bath & Beyond Inc (BBBY) is expected to report $-1.46 for 1Q.
BeyondSpring Inc (BYSI) is expected to report $-0.24 for 1Q.
Corus Entertainment Inc - Class B (CJR.B.T,CJREF) is expected to report $0.20 for 3Q.
Culp Inc (CULP) is expected to report $-0.50 for 4Q.
Duck Creek Technologies Inc (DCT) is expected to report for 3Q.
Elite Pharmaceuticals Inc (ELTP) is expected to report for 4Q.
Franklin Covey Co (FC) is expected to report $0.18 for 3Q.
General Mills (GIS) is expected to report $1.03 for 4Q.
MSC Industrial Direct Co Inc (MSM) is expected to report $1.74 for 3Q.
McCormick & Co (MKC) is expected to report $0.65 for 2Q.
MillerKnoll Inc (MLKN) is expected to report $0.44 for 4Q.
National Beverage Corp (FIZZ) is expected to report $0.41 for 4Q.
Neptune Wellness Solutions Inc (NEPT,NEPT.T) is expected to report for 4Q.
NovaGold Resources Inc (NG,NG.T) is expected to report $-0.02 for 2Q.
Patterson Companies (PDCO) is expected to report $0.48 for 4Q.
Paychex Inc (PAYX) is expected to report $0.79 for 4Q.
Portage Biotech Inc (PBT.U-L,PRTG) is expected to report for 1Q.
SMART Global Holdings Inc (SGH) is expected to report $0.38 for 3Q.
Schnitzer Steel Industries Inc (SCHN) is expected to report $2.23 for 3Q.
Shaw Communications Inc - Class B (SJR,SJR.A.V,SJR.B.T) is expected to report $0.33 for 3Q.
Tecsys is expected to report $0.06 for 4Q.
UniFirst Corp (UNF) is expected to report $1.57 for 3Q.
mdf commerce inc (MDF.T) is expected to report for 4Q.
Powered by Onclusive and Dow Jones.
ANALYST RATINGS ACTIONS
Banner Corp Raised to Buy From Neutral by Janney Montgomery Scott
Boston Beer Cut to Sell From Neutral by Goldman Sachs
eBay Cut to Neutral From Buy by UBS
Epizyme Cut to Market Perform From Outperform by Cowen & Co.
Fortinet Raised to Outperform From Market Perform by BMO Capital
JELD-WEN Cut to Equal-Weight From Overweight by Wells Fargo
Microchip Tech Raised to Buy From Hold by Stifel
Molson Coors Beverage Raised to Neutral From Sell by Goldman Sachs
Ovintiv Raised to Overweight From Neutral by JP Morgan
Portland General Electric Cut to Neutral From Buy by Mizuho
Shenandoah Telecom Cut to Market Perform From Strong Buy by Raymond James
Snowflake Raised to Buy From Hold by Jefferies
State Street Cut to Hold From Buy by Deutsche Bank
Universal Tech Institute Raised to Buy From Hold by Argus Research
Zendesk Cut to Equal-Weight From Overweight by Barclays
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires