Your Daily Dose of Financial News


Samsung, beset by top-level resignations and a mess of bribery allegations reaching the former South Korean President and the crown prince of the family’s chaebol, has announced a new slate of execs “In an effort to bring stability to its top ranks” – NYTimes and WSJ

US-based hedge fund Aristeia Capital is pushing for a proxy fight on distant soil—China, in fact—where Sina (parent of social media giant Weibo) is based. The battle, a first in pitting an American investor against a Chinese company, comes down to Sina’s corporate governance practices – NYTimes

Tesla’s mad rush to kick start its Model 3 production (and meet Elon’s aggressive monthly goals) appears to be prompting major labor repercussions – WSJ

The FDIC’s opposing defendant banks’ request for the Supreme Court to overturn a 2d Circuit opinion on FIRREA’s extender statute, arguing that defendants present no changed circumstances that would warrant deviating from the three prior denials of cert – Law360

With most focus on the White House’s choice for next Fed chief rather than actual policy, it’s been lost in the shuffle a bit that the FOMC has been meeting this week. The Committee’s expected to sit tight on rates again this month while prepping markets for a December move – Bloomberg

In yet another step towards mainstream financial legitimacy, Bitcoin will join oil and gold as part of the commodity futures market by year’s end, according to CME Group, Inc., the world’s biggest exchange group – WSJ and Bloomberg and MarketWatch

Breakingviews crunches some Q3 numbers to show how Aetna could provide some welcome cover to CVS Health and the expected Amazon onslaught – NYTimes

A still-recovering Puerto Rico has forced the federal board charged with “shoring up [the island’s] finances and restructuring its debts” to revise its fiscal recovery plan in the aftermath of Hurricane Maria – Law360

We noted Sears’ latest troubles yesterday, with the retailer burning through the final 60 million of a $200 million loan from its owner Eddie Lampert. Now the Journal gives an inside look at the decline of the once-dominant “Amazon of the 20th century” – WSJ

It was freezing last night, but nothing close to my memorable 6th grade Halloween of ’91. Whoa, Nellie – StarTribune

Game 7, baby.  Game 7 – NYTimes


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