Business Briefs – March 10, 2019

Wall Street’s New Dress Code Raises Question: What to Wear?

NEW YORK (AP) – Business casual has become such an entrenched trend that even Goldman Sachs surrendered to it with a memo to employees announcing a flexible dress code. That has complicated the calculation for bankers trying to navigate a more laid-back era that has provided fertile ground for missteps.

Feds Probe Alleged Prison Cellphone Use by ‘Pharma Bro’

NEW YORK (AP) – Federal authorities are investigating claims that Martin Shkreli has been running his pharmaceutical company from behind bars. The U.S. Bureau of Prisons said Friday that it has opened an inquiry into whether the so-called “Pharma Bro” used a contraband smartphone inside a New Jersey prison. The Wall Street Journal reported this week that Shkreli has been calling the shots at Phoenixus AG despite the seven-year sentence he’s serving for securities fraud.

China’s Yi Affirms Pledge To Avoid Devaluation for Trade

BEIJING (AP) – China’s central bank governor on Sunday affirmed an official promise to avoid manipulating its currency to boost exports, an issue he said American and Chinese negotiators discussed in their latest talks aimed at ending a tariff war.

Yi Gang gave no indication the two sides reached agreements beyond previous commitments produced by meetings of the Group of 20 major economies. He spoke at a news conference during the annual meeting of China’s ceremonial legislature.