Your Daily Dose of Financial News

Demolition of an old house

The SEC has an opened an investigation into whether companies are improperly rounding up their earnings per share reporting to the next highest cent—an inquiry reportedly prompted by a noticeable lack of “4s” in the tenths place of companies’ earnings reports – WSJ

The Upshot delivers us this dispatch from the front lines (think LEDs, boats, and flat-screens) of the ever-growing trade war with China [which is turning rapidly qualitative, despite the Treasury Secretary’s objections] – NYTimes

And with those front lines in mind, here’s a look at some of the companies benefitting from early tariff waivers (and those left out, for now) – NYTimes

Meanwhile, Europe’s preparing to act again in retaliation after the White House floated the possibility of duties on European autos – Bloomberg

Annnnd, it’s talking increased cooperation with China, citing nothing less than preventing global recession as a prime mover – Bloomberg

Even as stocks have settled down a bit, all of this global trade uncertainty is taking a toll on currency markets, which are showing signs of much-increased volatility – Bloomberg

The SEC has halted all cases currently pending before its in-house courts following the Supreme Court’s ruling last week finding that the agency’s ALJs were improperly appointed – WSJ

That decision also has some concerned about an increase in political influence on future administrative law judges – Law360

Businessweek’s not kidding around with this latest look at the damage that fully realized Brexit could cause London, suggesting that the UK’s departure from the EU threatens to undo all of the economic power that London’s amassed and exercised since the Big Bang in October of ’86 – Bloomberg

While we’re talking UK, let’s consider the battle that Uber has there this week, as it begins an appeal of a decision by British regulators to revoke its operating license. At stake is nothing less than Uber’s existence in one of its “most lucrative markets” – NYTimes

How a Lehman-style accounting trick to disguise debt with repos could be helping companies game the system in countries that require leverage-ratio reporting only quarterly (ahem, France, Germany, and Switzerland, among others) – Bloomberg

Exhibit BB in our ongoing consideration of Amazon as the ultimate disrupter: using its considerable influence (and big consumer-provided data) to steer buyers away from brand names and toward its nearly 100 private label brands – NYTimes

Since summer is now officially upon us, it’s time to stop messing around with grilling.  Step one: choosing your weapon – Bloomberg


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