Your Daily Dose of Financial News


Breakingviews suggests that the devil is definitely in the details in Sempra Energy’s apparent winning bid for Oncor. Control of the company, for example, isn’t as simple as it might seem – NYTimes

Berkshire Hathaway’s missed attempt for Oncor, meanwhile, has Bloomberg questioning Mr. Buffett’s dealmaking prowess – Bloomberg

Elliott Management, on the other hand, is looking good as BHP Billiton preps to sell its onshore US oil and gas operations – WSJ

We’ve read about the constitutional challenges to the SEC’s in-house courts here for years. But it turns out that the Fed has a similar (though more rarely used) venue for resolving financial regulatory disputes. The Times sheds some light on the court and a few of the cases that have come before it – NYTimes

2017 hasn’t been kind to Bill Ackman so far. He unceremoniously unloaded his Valeant stake a few months ago (after serious haircut), and now he’s facing a resurgent Herbalife, whose shares jumped 11% yesterday on news of a stock buyback and a potential sale. None of which is good news for Ackman’s Herbalife short – WSJ

Some Law360 analysis offers this warning to banks: in a world where payment speed is increasing dramatically, you’d better upgrade your technology so that fraud prevention tools keep pace with regs – Law360

Some in the Street are warning about the troubling (and as-yet unprepared-for) consequences associated with the Fed’s announced plans to start unwinding its massive bond portfolio in the coming months – Bloomberg

So about that Chinese governmental bar on overseas investment . . . . Apparently there’s a special carve-out for Jeeps? Great Wall Motor Company’s pursuit of Fiat Chrysler could get very interesting very quickly – NYTimes and WSJ

A group of RMBS investors suing Wells Fargo over alleged failings in its trustee role have lost the fight over their preferred damages and liability sampling methodology. With thousands of loans undergirding the securities at issue and a loan-by-loan analysis the alternative to sampling, the decision will dramatically affect plaintiff’s efforts – Law360

NY hedge fund Deerfield Management Company will pay $4.6 million resolve SEC allegations that it “failed to have adequate internal safeguards to ensure that managers didn’t make trades based on inside information they received from consultants.” The charges stemmed from trades Deerfield made during 2012-13 after receiving information “market-moving information” – WSJ

In the words of our senior Senator, the Eclipse is over—time to start talking about the Great Minnesota Get Together [aka, for the uninitiated, the State Fair]. I couldn’t agree more – StarTribune

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