Your Daily Dose of Financial News

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Now to be fair, Starbucks Executive Chair Howard Schultz has stepped away before.  But this time feels more definitive, especially with the call of politics apparently swimming around in his post-Sbux plans – NYTimes and WSJ and Bloomberg

The Journal gives us a primer on how China’s steel companies have found ways to avoid US tariffs (largely by shutting down domestic production and focusing on owning production abroad) – WSJ

Meanwhile, not a blockbuster weekend for those hoping for Sino-American trade progress to de-escalate trade war speculation – Marketplace

Your WWDC 2018 update—from device-addiction controls to more private browsers and a whole bunch more – NYTimes and WSJ and Bloomberg and Wired

More details on Microsoft’s Monday announcement that it was buying up GitHub—a “software development company used by 28 million programmers”—for $7.5 billion, a move that acknowledges the important role that developers are playing in the future of tech and marks a pretty significant departure for Microsoft – NYTimes and WSJ and Bloomberg

French banking giant Societe Generale SA will pay $1.3 billion to French and US authorities to “resolve allegations it engaged in a multiyear bribery campaign in Libya and schemed to manipulate key benchmark interest rates” – Law360

Aussie banking week continues, as we check in with the accusations of “cartel conduct” against ANZ, Citi, and Deutsche Bank by Australian antitrust regulators over a 2015 fundraising round for ANZ – WSJ

The CFTC voted 2-1 on Monday to approve a proposed rule that would “permanently set the threshold for swap-dealer registration at $8 billion in annual notional value”—$5 billion more than the prior proposed threshold—in a move that will allow many companies to “avoid registering as swap dealers, providing a reprieve to some firms that use swaps to hedge risks” – WSJ

New reports suggest that older millennials are no longer sitting on the sidelines of the housing boom, with first-time home buyers (with a median age of 32) accounting for nearly half of all new mortgages – Bloomberg

One of the stories in our regular bedtime rotation includes a character who fears the ocean because of the “lurking, murky ickiness factor of the water.” Turns out the pig wasn’t wrong – NYTimes

MDR

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