Your Daily Dose of Financial News

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Uber’s got more than a spot of bother on its hands in London after this morning’s announcement that the company’s largest market in Europe won’t renew the ride-hailing service’s license to operate in the city (citing “a lack of corporate responsibility . . . which have potential public safety and security implications) – NYTimes and WSJ and Bloomberg

Google, with seemingly renewed interest in the smartphone hardware game, has snapped up HTC for $1.1 billion – NYTimes

The SEC’s facing criticism and accusations of a double standard for its slow response to the 2016 cyberhack that exposed its EDGAR system and opened the door to possible insider trading – WSJ and Bloomberg

S&P’s a few months late to the party, but it, too, sees problems with China’s surging debt load and has joined Moody’s in downgrading its rating on China – NYTimes and WSJ and Bloomberg

The FSOC is reportedly weighing dropping AIG’s SIFI label—a potentially huge step for a company “at the center of the global markets meltdown in 2008” – WSJ

The DOJ has signed off on a real-time payment system among 24 big US banks that will allow for immediate transfers between these financial institutions – Law360

European grocery giant Aldi is looking to take a bit out of its American competition with an interesting strategy: lower prices (yes) but way, way less choice – WSJ

As the Fed officially begins winding down its bond portfolio, Streetwise asks some big (and uncomfortable) questions about the efficacy of quantitative easing, all $2 trillion worth – WSJ

This month’s edition of the Daily Dose Book Club highlights the “scandalous friendship” with radical philosopher David Hume that helped define the work of the father of modern capitalism, Adam Smith – NYTimes

Have a great weekend,
MDR

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