Your Daily Dose of Financial News


Mr. Buffett’s decided to sell his massive 10.6 million share stake in General Electric, withdrawing from the company to which he lent roughly $3 billion to help see it through the 2008 financial crisis – WSJ and Bloomberg

The Times looks at the software update agreement that helps explain the weekend surge in Bitcoin value – NYTimes

Dealbook’s White Collar Watch laments the devolution of corporate culture (and sees Wells Fargo as an unfortunate case study). It suggests that company boards are failing in their Caremark duty standard by passively delegating oversight responsibility to management – NYTimes

A mess of big banks accused of indirect forex manipulation have moved to dismiss the matter, arguing that their alleged misconduct “had nothing to do with the plaintiffs’ supposed losses” – Law360

We’ve had our issues with ratings agencies here in the States.  But by comparison to Chinese counterpart Dagong Global Credit Rating Co., the US big three look downright airtight when it comes to Wanda bonds – Bloomberg

Former Whole Foods thorn-in-the-side Jana Partners has revealed that it’s taken a 2% stake in the struggling Blue Apron, the food delivery service whose IPO was decimated by news of the Whole Foods/Amazon deal – WSJ

Pandora is hoping that a new station [chief] will help it work though a rough patch that has seen its growth stall and stock price lag – NYTimes

Unsurprisingly, in the ADP/Ackman war over CEO Carlos Rodriguez, Pershing Square’s suggesting a different account of how it’s all gone down so far – WSJ

Leave it to Coach Jim to surprise us with some surprising advising for aspiring pigskinners – WSJ

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