Your Daily Dose of Financial News

Demolition of an old house

The latest from the Redstone/CBS dispute, with news late yesterday that even as Shari Redstone is “moving to block CBS Corp.’s efforts to strip her family of voting control” [WSJ], a Delaware judge has temporarily blocked her from “interfering” with CBS’s preparation of a “defensive measure to ward off a merger with Viacom Inc.” until at least later today – Bloomberg and Law360

The SEC showed off some uncharacteristic “digital communications savvy” this week, launching its own version of a cryptocurrency scam in order to education the public about what to watch for if playing in the ICO game – WSJ and Bloomberg and MarketWatch and Law360

The agency also did some old-school helping, with its enforcement co-director telling a House committee on Wednesday that the Supreme Court’s 2017 Kokesh v. SEC decision (limiting disgorgement to a five-year statute of limitations) has cost investors more than $800 million since it was issued – WSJ

We’ve been talking trade wars for months now, but let’s back out for some bigger perspective of the $700 billion/year trade relationship between the United States and China—namely, what would it even look like if the two countries were not so closely linked – NYTimes

SDNY Magistrate Judge Barbara Moses has issued not-messing-around $1k/day sanctions against Royal Park Investments starting next week if it fails to comply with a discovery order to produce certain sworn statements or testimony in its RMBS suit against Deutsche Bank – Law360

How’s this for a comforting thought—the US economy right now is essentially MoviePass: spend big, grow quickly, use investor cash to subsidize losses, and figure out profitability later. Not scary at all, right? – NYTimes

SDNY Judge Colleen McMahon has ruled that former Deutsche Bank trader Gavin Black must face Libor-rigging charges, finding that his compelled testimony to U.K. investigators did not “fatally taint[ ] the U.S. criminal case” – Bloomberg

After initially playing coy, Zuck has agreed to meet European Parliament members in Brussels [though not UK officials] to address questions about Facebook’s privacy practices. The meetings are expected to be held in private which is, itself, causing some consternation among European lawmakers – NYTimes and MarketWatch

Kroger’s doing its part to advance its cause in the ongoing grocery wars by snapping up a stake in UK online grocer Ocado Group in order to bring its considerable grocery e-commerce expertise to the US – Bloomberg

We’re not exactly in Total Recall land yet, but scientists announced this week in the journal eNeuro that they’ve successfully transferred memories from one set of snails to another (in the form of implanting brain cell molecules from trained snails to untrained snails) – NYTimes and TheGuardian


Leave a Reply

Email addresses and comments are not displayed publically.