Your Daily Dose of Financial News


Let the reaction to Disney’s blockbuster $52.4 billion deal for much of Rupert Murdoch’s entertainment empire continue. Pick your poison: [Murdoch’s connections] NYTimes and [Murdoch as King Lear] NYTimes and [Importance of streaming content] WSJ and [Wall Street’s reaction] Bloomberg and [Relationship to the tax bill] MarketWatch and [The challenge to Silicon Valley] Marketplace

Breakingviews’ take on the deal today focuses on the impact on European telecoms and their recent ambitions for producing content of their own – NYTimes

The NLRB has overruled a 2015 decision in Browning-Ferris Industries that expanded the board’s test for joint employment – Law360

Generic drugmaking giant Teva Pharmaceuticals will cut 25% of its workforce (around 14,000 jobs) and shutter manufacturing and R&D facilities in an effort to “simplify its structure and reduce its debt” – NYTimes and WSJ

The criminal trial of two ex-Deutsche Bank traders over alleged Libor rigging has been delayed by the possibility of “tainted” testimony compelled in the UK – Law360

Famed economist Robert Schiller’s Bitcoin take—something “between gambling and investing” – NYTimes

Yet another activist battle front for Elliott Management—this time, with oil-and-gas company Hess Corp., who Elliott engaged last in 2013 in an successful effort for board seats and to remove CEO John Hess as board chair – WSJ

Bitcoin’s influence on commodities may be realized more in the blockchain technology that undergirds the cryptocurrency than in the currency itself – Bloomberg

ICOs have topped $4 billion and set off a new round of hand-wringing among US regulators – WSJ

Finally, perhaps the best take on the Disney/Fox merger: please, Disney, restore A New Hope to its original glory – Mashable

Have a great weekend,