Your Daily Dose of Financial News


Former AIG chief Hank Greenberg and his co-defendant, AIG’s former CFO, reached an “unexpected” settlement last week with NY officials. The duo will fork over about $10 million in bonuses payments and admit that they participated in transactions that inaccurately portrayed AIG’s financial results, but neither admitted to fraud – NYTimes and WSJ and Law360

As Snap’s official offering date nears, Wall Street is evaluating the messaging company with an increasingly skeptical eye – WSJ

The Upshot weighs in on a plan to overhaul the tax code that’s appealing to many (in theory) but another thing entirely when it comes to actually pulling it off – NYTimes

Ever feel like the glut of hedge funds has made it just too hard to tell the good from the bad?  Luckily, Denmark’s Danske Bank is doing something about it for you [hint, look for the ones that actually know how to hedge] – Bloomberg

A NY appellate panel has refused to revive a suit by liquidators for Bear Stearns feeder funds in their attempt to hold the big three ratings agencies responsible for misrepresenting the creditworthiness of subprime-backed debt obligations – Law360

Ford, one of America’s oldest carmakers, is intent on staying relevant, at it sees A.I. as a means of making that happen. On Friday, Ford announced a billion dollar investment in Argo AI, a nascent start-up focusing on autonomous vehicle technology – NYTimes

The tight ties between the “news sentiment” and market performance are, it seems, tighter than ever these days – Bloomberg

We’ll give Amazon this: they’re not exactly sitting around on their laurels – NYTimes

Say what you’d like about this group of Caymanian hockey players (and their impressive level of sponsorship), but you’ve gotta give it up for this level of devotion to the game – NYTimes

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