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Bar Equifax from federal work, Senator says; Ackman seeks ADP owners' votes


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Bar Equifax from federal work, Senator says; Ackman seeks ADP owners' votes

Citing Equifax Inc.'s cybersecurity breach that compromised sensitive information for up to 145.5 million people, Sen. Sherrod Brown, D-Ohio, asked the Treasury Department to have the credit reporting agency barred from contract work with the federal government. Just earlier this month, Politico reported that the Internal Revenue Service awarded Equifax a contract worth about $7.3 million to verify taxpayer identities and help prevent fraud.

In the latest news on William Ackman's proxy war with fintech firm Automatic Data Processing Inc., the Pershing Square Capital Management LP CEO purchased advertisements in newspapers throughout the U.S. — as well as ads on Google, Facebook and Twitter — to direct ADP investors to a webcast the asset manager is hosting at 7 p.m. ET today, the New York Post reports. Pershing Square seeks to win the favor of ADP's shareholders to get board seats on ADP's shareholder meeting on Nov. 7. In a press release, Ackman said "we're asking investors to assist us in adding a few fresh perspectives to the Board to help oversee the company's transformation."

And in regulation-related news, bond manager Bill Gross of Janus Henderson Investors said that the Federal Reserve is to be blamed for "fake markets," Reuters reports. Gross said that with the U.S. central bank's loose monetary policy, investors are chasing yield and producing tight corporate spreads across the globe, the report adds.

In other parts of the world

Asia Pacific: Indonesia to probe StanChart asset transfer; Reliance General files for IPO

Europe: Italy's bad loan concerns; Deutsche's Cryan loses support; Danske blacklisted

Middle East & Africa: SBM offers to buy Chase Bank; NBK Q3 profit up; Zimbabwe gets new finance chief

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng rose 0.58% to 28,490.83, while the Nikkei 225 rose 0.64% to 20,823.51.

In Europe, around midday, the FTSE 100 was up 0.20% at 7,522.78 and the Euronext 100 was 0.07% higher at 1,046.02.

On the macro front

The NFIB Small Business Optimism Index and Redbook are due out today.

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