Your Daily Dose of Financial News

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JPMorgan has agreed to pay $264 million to resolve allegations that it engaged in a vast foreign bribery scheme and shady hiring practices in order to make inroads in China – NYTimes and WSJ and Law360

NY Federal prosecutors have filed charges against former Philidor and Valeant executives for alleged fraud and conspiracy as part of a multimillion dollar kickback operation – NYTimes and WSJ and Law360

On the Hill yesterday, Fed Chair Yellen acknowledged that the recent election would likely mean changes for the economy, but she said it was “too soon” to predict the nature of that economic impact at this time (though that December rate hike sure looks a lot more likely than it did even last week) – NYTimes and WSJ and Bloomberg

VW’s reportedly cutting up to 30,000 jobs in the next 5 years as part of a global restructuring in the wake of its emissions cheating scandal – WSJ

There’s rampant speculation [but no consensus] on what the new administration will mean for the DOL’s fiduciary rule –Wealth Management

Tesla and Solar City shareholders have given Elon Musk the nod to move ahead with the grand consolidation of his business empire [the solar shingles probably helped] – NYTimes and Bloomberg

Goldman’s looking ahead and making guesses for a 2017 that I think we can all agree will be anything but predictable –Bloomberg

So much for tinkering with genes to make crops pest-resistant.  How about playing around with the very nature of how they grow.  Think of it as photosynthesis version 2.0 – NYTimes

Throwback works, and at $60—well, you’re going to see a lot of these under the Christmas tree this year – WSJ

Have a great weekend,

Follow me on Twitter: @reifmd

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