Your Daily Dose of Financial News


Even as JPMorgan has set the playing field for his successor (Daniel Pinto v. Gordon Smith, FYI), head honcho Jamie Dimon is making it clear that he’s not about to go anywhere anytime soon – WSJ and NYTimes

Speaking of Uncle Jamie, how would you feel about trusting him and Warren and Jeff with your health care? Because JPMorgan, Berkshire Hathaway, and Amazon are working on a new venture aimed at disrupting the health care market—starting with their employees and then, well, we’ll see – NYTimes and WSJ and Bloomberg and Law360

That health care bombshell was part of what drove a far-from-banner Tuesday on Wall Street – WSJ

The DOJ and SEC have opened an inquiry into whether Apple violated securities laws over its disclosures about a software update from early 2017 that slowed older iPhone models – Bloomberg and WSJ

Xerox announced this morning that it will cede operational control to Fujifilm Holdings as part of its joint venture with the Japanese company, ending Xerox’s 115-year run as an independent entity – NYTimes and WSJ

Private-equity behemoth Blackstone Group is reportedly in “advanced talks” to snap up a major stake in Thomson Reuters’ financial and risk business, the company’s largest operation, in a deal valued at $20 billion – WSJ and NYTimes and Bloomberg

A group of bond investors led by BlackRock and PIMCO are seeking class certification against Deutsche Bank over its role as trustee in the handling of a group of RMBS trusts that collapsed in the wake of the financial crisis – Law360

The Times’ Shift column is not all about Kodak’s “dubious” cryptocurrency gamble, and there are a host of reasons (from the company’s suspect partners for the venture to the questionable demand for KodakCoin resale) to be wary of the offering set for today – NYTimes

And it’s not the only one with suspicions.  Facebook announced this week that it is banning all ads for bitcoin and other cryptocurrencies on its network – NYTimes and Bloomberg and MarketWatch

Then again, why mess around with ICOs when you can raise money for your other projects by selling flamethrowers.  Right, Elon?  – Mashable