Your Daily Dose of Financial News


A federal jury in Brooklyn has found former HSBC Holdings exec Mark Johnson guilty on 9 counts of front-running that grew out of the DOJ’s investigation into forex manipulation at HSBC – WSJ and Law360 and Bloomberg

John Flannery’s recent cuts at GE haven’t been just about a new CEO putting his stamp on the place. No, GE’s in the midst of a rough patch, with “horrible” quarterly earnings and a stock price down 25% this year. Breakingviews thinks it might not be that far-fetched to see a Dow Jones without it – NYTimes and Bloomberg

A recent Treasury Department report is the latest sign that the CFPB’s arbitration rule is feeling the new administration’s heat, even as efforts to nullify it in Congress are struggling – Law360

Amazon’s feeling the love.  All 238 cities worth of it – NYTimes and WSJ

What’s bad for Chipotle is glorious for headline writers – WSJ

EU investigators looking into possible price-fixing in vehicle components have expanded their inquiry beyond BMW to include Daimler and Volkswagen—the Big 3 of the German auto industry – NYTimes

A proposed class action of traders has dropped its claims against Goldman Sachs over its alleged “last look” practice allowing Goldman to review a trade order before it goes through. The traders argued that the practice allowed the bank to cheat traders on its forex platform by rejecting trades it found unfavorable – Law360

The Journal explores the 2017 state of American farming and finds that family mega farms are squeezing out smaller operations, with 4% of the nation’s farms now producing more than 2/3 of the country’s agricultural output – WSJ

Thanks to the 4am genius of Mikey and Bobby (with a strong dose of Hanx thrown in the mix), we get to celebrate the 1 year anniversary of David S. Pumpkins in a few days.  Here’s everything you need to know about the bizarrely winning sketch – Vulture


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