Your Daily Dose of Financial News

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Most insiders are chalking up last week’s CVS/Aetna news to a recent Amazon push into the pharma world.  The Journal breaks down exactly what that means—both for the industry and for Amazon, which faces a series of challenges in making an online pharmacy work – WSJ

Bloomberg, in fact, explores how the merger and Amazon’s entry are likely to be driving forces behind a whole new way of paying for drugs – Bloomberg

Breakingviews on the power of the theoretical tax cut for the US economy – NYTimes

The Journal, among others, expects the White House to name current Fed governor Jerome Powell the new Fed chief sometime this week – WSJ

As notoriety goes, Alibaba’s Joseph Tsai generally plays Paul Allen to Jack Ma’s Bill Gates. Which is fitting, because like Allen, Tsai’s now part of the wild and crazy world of pro sports ownership – NYTimes

The SEC is facing a lawsuit arguing that, thanks to the Supreme Court’s June Kokesh v. SEC decision, the agency is liable for all of the roughly $15 billion that it collected through disgorgement proceedings over the past 6 years.  Plaintiff is the liquidating trustee for the now-defunct F-Squared, a company that disgorged $30 million to the SEC before filing for bankruptcy – Law360

You may not be actively tracking the staggering stock collapse of PetroChina, but given the $800 billion in value it’s lost over the past decade, it might be worth at least having on your radar – Bloomberg

The Times’ Tech column does us all a favor and breaks down exactly what the buzzy Initial Coin Offering actually means (and how they work) – NYTimes

At least 5 states’ AGs (some capitalizing on their state’s unique data breach laws) are pressuring Equifax to explain its 6-week delay in disclosing the massive data hack – WSJ

The Times’ Adam Bryant has been interviewing CEOs for years with his Corner Office Feature. He’s hanging up the pen and pad, but before he goes, he offers a summary of what he’s learned over a decade of these fascinating features – NYTimes

Frog and Toad: meme superstars – NYTimes

MDR

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