Your Daily Dose of Financial News

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Uber made it official today, announcing that controversial CEO Travis Kalanick will be taking an indefinite leave of absence, though even the announcement and board commentary that followed seemed to highlight the “bad-boy culture” that has been part of Kalanick’s undoing – NYTimes and WSJ and Bloomberg

Dealbook on the challenges at GE facing incoming CEO John Flannery – NYTimes

Researchers at West Virginia University appear to have revealed a sizeable discrepancy between Fiat Chrysler’s diesel engine lab emissions and road emissions tests, adding fuel to the VW-like fire that appears to be headed the carmaker’s way – WSJ

Bloomberg View is fine with the Fed’s expected quarter-point interest rate hike today.  It’s the Fed’s balance sheet that has it worried—namely, how to shrink its $4.5 trillion in bond holdings back without scaring markets to death – Bloomberg [and WSJ]

Three former London-based Forex traders at the heart of the “Cartel” or “Mafia” scandal have agreed to drop their extradition fight and appear voluntarily in US court to face charges that they colluded to manipulate currency trades – NYTimes and Law360

Yahoo—one of the earliest web giants—is officially no more, thanks to Verizon’s completed purchase yesterday for $4.48 billion. Y! will be combined with AOL to create a new Verizon division called Oath – NYTimes

A Bloomberg investigation has revealed that two major online consumer lenders—Prosper Marketplace and LendingClub—are hit and miss when it comes to verifying borrower income and employment, and neither treats application mistakes (like overstated income) as fatal in the loan process – Bloomberg

Looking to get off the beaten path on your next Italian holiday?  Word on the street is that you could do a lot worse than the local library – NYTimes

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