Your Daily Dose of Financial News


The emissions cheating scandal that recently cost VW $4.3 billion and a mess of criminal indictments isn’t, it seems, confined to the Germans.  We heard months ago about a similar probe into Mitsubishi, and yesterday we learned that the EPA has accused Fiat Chrysler of installing cheating software in its diesel vehicles – NYTimes and WSJ

Even as traditional brick & mortar stores are crumbling, Amazon is popping up warehouses around the country, with plans to hire 100,000 new employees in the next 18 months – NYTimes and WSJ

For what at times can be a pretty atonal group, the various regional Federal Reserve presidents are showing a remarkable amount of harmony these days when it comes to future rate hikes – WSJ

A former currency exchange trader for Citigroup has become the second  guilty plea in the DOJ’s Forex manipulation investigation – Law360

The rise of the robots is real, McKinsey confirms.  Just maybe slower and a little less pervasive than first feared (jobwise, at least) – NYTimes

Speaking of robots, the SEC has announced that robo-advisers will be the a major focus for the agency in the coming year, joining senior abuse and new money market fund rule enforcement as areas of priority for the SEC’s Office of Compliance Inspections and Examinations – Law360

The agency also tried to give broker-dealers some comfort in dealing with the DOL’s new fiduciary duty rule, issuing a no-action letter yesterday that agreed brokers could “set their own commissions for sales of certain mutual funds” – Law360

There are bromances these days.  And then there’s this.  Pretty cool, regardless of your political stripes – NPR

We’re off Monday, so we’ll see you back here bright and early Tuesday morning.  Have a great weekend.

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