May 11, 2018

Novartis payments to Michael Cohen were excessive by D.C. standards

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Michael Cohen walking down Park Avenue. Photo: Yana Paskova/Getty Images

STAT reports that there "weren’t any contracts under which an individual company paid a single lobbying firm [as much as] $1.2 million in 2017," the amount the Swiss drug maker paid Michael Cohen.

The big picture: Cohen was expected to help the company navigate through political challenges as a consultant but was paid more than any lobbyist in D.C.

"The record-setter was PricewaterhouseCoopers, which brought in $950,000 to represent the Alliance for Competitive Taxation in 2017, according to a Politico analysis of 2017 filings."

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Coronavirus spreads to more countries, and U.S. ups its case count

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus continues to spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting those are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the U.S. Meanwhile, Italy reported its first virus-related death on Friday.

The big picture: COVID-19 has now killed at least 2,359 people and infected more than 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel, Lebanon and Iran.

Go deeperArrowUpdated 8 hours ago - Health
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Orion Rummler

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Go deeperArrow10 hours ago - Economy & Business