Your Daily Dose of Financial News

Demolition of an old house

Markets are joining the American mid-Atlantic and East Coast in bracing for Hurricane Florence and the estimated $27 billion in damages it could bring with it – Bloomberg

A longer look at the decades-long rise of CBS’s Les Moonves and the #MeToo events that helped bring about his rapid downfall [and the role of the Redstone dispute in it all] – NYTimes and WSJ

Here’s what CBS is doing to work through the leadership crisis – NYTimes

The Times Sunday business section featured this interesting take on Pinterest as the anti-unicorn unicorn that’s hoping to maintain its status as “the web’s last bastion of quaint innocence” despite a Silicon Valley culture obsessed with disruption, breaking things, and “growth at all costs” – NYTimes

Snap Inc.’s strategy chief Imran Khan is exiting the Snapchat parent, the “latest senior member of Chief executive Evan Spiegel’s circle to exit” as the company faces “challenges growing its number of users after a poorly received redesign of its app” – WSJ and NYTimes

Volvo’s IPO plans are on hold, and Breakingviews suggests that there’s more at play than a “brewing trade war” between the US and China – NYTimes

Bloomberg gives us a big-picture evaluation of just how ready the US economy and its movers are to handle another financial crisis as part of its marking of Lehman’s demise a decade ago – Bloomberg

Andrew Ross Sorkin’s getting in on that brand of fun, too – NYTimes

The SEC revealed late last week that it had reached a settlement with a former Nomura managing director over allegations that he had participated in a $7 million RMBS fraud – Law360

It remains to be seen whether Daniel Zhang can carve out his own cult of personality that Jack Ma has established at Alibaba in his decades-long run at the company he co-founded, but here’s a look at what we’re working with when it comes to Mr. Zhang – WSJ

The latest installment of Law360’s Expert Analysis tackles the implications of the DOL’s fiduciary rule unwinding thanks to a June 2018 5th Circuit mandate – Law360

Think you’ve got a handle on how to value your portfolio? Think again. Here’s why at least some are positing that a traditional price-to-book-value ratio measurement is outmoded – WSJ

Evan Osnos and the New Yorker give us this fascinating long read on Mark Zuckerberg and the ‘book, as both face something of a crossroads as to their place in the world (and, more specifically, American democracy) – NewYorker

Remembering New York (and D.C. and Pennsylvania), 17 years on – NYTimes


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