Your Daily Dose of Financial News

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Tesla’s hoping that a manufacturing plant in China—the first in the country wholly owned by a foreign manufacturing company—will translate into big sales in the Chinese market. With the Chinese government loath to give up the steep tariffs that are the norm for foreign imports, though, who could benefit more from the factory is still an open question – NYTimes and WSJ and Bloomberg

Give a few minutes to this Times long-read on economic boost that online powerhouses like Amazon, Zulily, and Walmart have provided for some communities around the US—including plenty that have been hard hit in recent decades by the loss of manufacturing jobs – NYTimes

Fidelity Investments is struggling to address “long-simmering” workplace culture issues after a spate of harassment and bullying allegations led to the dismissal of yet another high-profile employee – WSJ and Bloomberg

The UK’s Financial Conduct Authority has fined Merrill Lynch more than $45 million under the European Markets Infrastructure Regulation for failing to report nearly 70 million exchange-traded derivative transactions over the span of two years – Bloomberg

Wells Fargo’s sales-practices scandal inquiry has reportedly bled beyond its retail-banking operation and into its investment bank arm. Also, Wells has fired four Forex bankers and is facing a damning OCC report over its auto-insurance practices. So, there’s a Monday for you – WSJ

Not, apparently, cowed by Blue Apron’s difficult IPO, HelloFresh has its sights set on a public rollout that would value the meal-kit company at just shy of $2 billion – Bloomberg

This weekend’s Fair Game spends some time with TIAA, whose “image as a benevolent provider of investment advice is in question” of late thanks to allegations that it’s pushed “customers into products that do not add value and may not be suitable but that generate higher fees” – NYTimes

As it prepares to start selling its own bond holdings and move away from QE policies, the Fed will likely be keeping an eye on the ECB’s tapering plans—and on the central banks outside of the Eurozone whose currencies “either track or are hugely influenced by the euro” – WSJ

We love keeping tabs on Elon Musk and his various Tesla/SolarCity/SpaceX adventures here. But, rather quietly (and despite its dubious role in “Who Killed the Electric Car”), General Motors “has delivered the world’s first affordable, long-range” electric vehicle. Ladies and gentlemen: the Chevy Bolt – MarketWatch

MDR

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