Your Daily Dose of Financial News

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AT&T’s chief is weighing in the DOJ’s call to sell CNN in order to make its deal with Time Warner go through, and, as Randall sees it, “selling CNN makes no sense” – NYTimes and WSJ and Bloomberg

The Times on new Uber CEO Dara Khosrowshahi’s efforts to build a very different ride-haling giant—from culture to governance and just about everything in between – NYTimes

With Snap stock’s further fall this week thanks to tough Q3 numbers, the Journal traces the concerns that many financial experts and Snap insiders had about the company’s IPO and the decision to set aside such concerns in “a fever for a big listing” and with nearly $100 million in fees at stake – WSJ

Ahead of what should be a banner day for Alibaba this Saturday, Daniel Loeb’s Third Point has increased its stake in the Chinese e-commerce heavyweight to more than $1 billion – Bloomberg

We learned a few weeks ago that squeaky-clean TIAA might be facing some questions about its sales practices. This week, those questions are taking the form of a subpoena from the NY AG’s office about the methods the insurance and investment firm used to sell costly products that allegedly offered little to no value to clients – NYTimes

DOJ officials announced yesterday that the “eight-year wait is over” for the nearly 25k Madoff Ponzi scheme victims, who will soon start receiving their share of nearly ¾ of a billion dollars from a $4 billion compensation fund, the “largest distribution ever under the DOJ’s victim compensation fund” – Law360

The financial fallout from Equifax’s massive hack is already in the scores of millions and climbing, and the company’s stock is down 24% since it disclosed the hack – Bloomberg and NYTimes

New SEC chief Jay Clayton, in unscripted remarks in a New York speech yesterday, suggests that in his view Internet Coin Offerings have “a sufficient number of hallmarks of a security”—raising the specter of the agency’s “more aggressive stance” in the ICO world – WSJ

Breakingviews helps us understand Apple’s outsized (albeit indirect) role in Broadcom’s massive bid for Qualcomm – NYTimes

Marketplace gives us a look at the latest food hall craze—a concept that arrived here from Europe and that (if you squint) isn’t all that far removed from the suburban mall food court – Marketplace

Turns out that mass extinction—much like real estate—is all about location, location, location – NYTimes

Have a great weekend,
MDR

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