Your Daily Dose of Financial News


Just how bad is the Brexit crisis for Prime Minister May? Well, she’s considering crossing the aisle and, gulp, working with the Labour Party on a departure plan.  So really bad. And oh yeah, more time, please – NYTimes and WSJ and Bloomberg

The Massachusetts Gaming Commission has found that Wynn Resorts executives “helped hide sexual misconduct allegations against the company’s billionaire founder, Steve Wynn.” It reached the conclusion in a report released as the regulator begins 3 days of hearings on whether to allow the company to begin operating a $2.6 billion resort near Boston in June – NYTimes and WSJ and Law360

The White House isn’t letting up on blaming the Fed for “holding back the economy and stock market,” so “I guess I’m stuck with you” is what qualifies as a ringing job endorsement for Fed Chair Powell these days – WSJ and Bloomberg

Recent [unexplained] rally aside, a largely disastrous stretch for cryptos has cooled big Wall Street institutions on digital currencies and forcing many crypto aficionados “to confront how few of the big finance companies acted on their cryptocurrency plans” – NYTimes

Blackrock chief Larry Fink announced in a memo yesterday that his firm is engaging in a “massive overhaul” of its leadership in an effort to “cement client ties beyond the Americas, where most of its revenue still originates” – Bloomberg

Stanford Int’l Bank, which cratered after its senior execs were implicated in a Ponzi scheme, is seeking nearly $100 million from HSBC in London’s High Court over HSBC’s role in “allegedly processing the company’s missing money through its accounts” – Law360

A new LA County Superior Court lawsuit accuses Disney of discriminating against female workers “by paying them less than their male counterparts.” Plaintiffs are seeking to bring the case as a class action – NYTimes

IMF Managing Director Christine Lagarde is out with a depressing new assessment of the global economy, which she concludes has stalled since the start of the year – Bloomberg

Former Nissan chief Carlos Ghosn is set to tell his side of the story in a news conference next Thursday. But he can only do so if he’s a free man, and a new threat of a re-arrest under charges of breach of trust adds some serious uncertainty to that proposition – Bloomberg and WSJ

The DOJ has indicted North Carolina entrepreneur Greg Lindberg on “federal criminal charges of conspiring to bribe the state regulator overseeing his insurers.” Lindberg, as you may recall, was the subject of a lengthy Journal piece on his moves to bought up a series of life insurance firms and then diverted $2 billion into his own private entities – WSJ

As we prepare for the return of a Tradition Unlike Any Other (thanks, Jim) next weekend, it’s well worth remembering Marion Hollins—the early 20th century force of nature and phenomenal golfer who helped develop a California golf club that served as the template for Augusta National – NewYorker


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