Gillian Tan is a Bloomberg Gadfly columnist covering deals and private equity. She previously was a reporter for the Wall Street Journal. She is a qualified chartered accountant.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From Equifax Inc.'s need for a security dream team to what the latest speculation about Commerzbank AG says about the German banking system, here are four charts that tell you what you need to know in business today.

Taking Stock
After a blowout 2016, the E&P sector's issuance has slowed to a trickle. Anadarko is actually buying back stock, another sign of the industry's response to a wider shift in sentiment.
Source: Bloomberg
Note: Data for 2017 are year-to-date, as of Sep. 20.
Hack Whack
Equifax's stock plummeted when the company announced that its database of consumer financial information had been breached. Its board needs a security dream team.
Source: Bloomberg
A Position of Weakness
Germany's two biggest listed lenders trade at steep discounts to book value, including Commerzbank, which could be snapped up by a French rival.
Source: Bloomberg Intelligence
Dell Debt
Dell Technologies has some $49 billion dollars in debt related to the company's two borrowing-reliant buyout transactions. It, like other tech companies, can learn from the Toys "R" Us bust.
Source: Bloomberg

And don't miss Max Nisen on the disruptive Graham-Cassidy bill: "The ACA has been no cakewalk for insurers. But the unprecedented state-by-state changes and added Medicaid cuts of Graham-Cassidy would likely make even its critics look back at Obamacare wistfully." 

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story:
Gillian Tan in New York at

To contact the editor responsible for this story:
Mark Gongloff at