Your Daily Dose of Financial News


Breakingviews on what the White House’s intervention into Broadcom’s [dropped] bid for Qualcomm could mean for the US-based chip maker.  [Hint, it involves China, and it’s not great for the big Q] – NYTimes [and WSJ]

Also, some thoughts on Huawei’s role in all of this – Bloomberg

As impressive as a $7 billion valuation would be for Dropbox, that figure would amount to a roughly 25% haircut from the company’s $10 billion private valuation.  So what gives? Just another example of the less-than-perfect tech startup valuation model – NYTimes

Ratings agency Moody’s has managed to avoid former managing director Eric Kolchinsky’s fifth attempt to revive his suit against the firm accusing it of violating “the False Claims Act when it gamed ratings to preserve business in the lead-up to the 2008 financial crisis” – Law360

It’s the Journal’s turn to reflect on the Bear Stearns bailout, ten years on, and to ask if Wall Street has learned anything from one of the precursors to the Great Recession – WSJ

California federal judge Richard Seeborg has affirmed his own judgment—including a nearly $8 million penalty and injunction—against mortgage servicer Nationwide for “misleadingly market[ing] a mortgage payment program” – Law360

As Tesla struggles with Model 3 production issues, VW’s looking to pivot away from its emission scandal and steal Elon’s electric vehicle thunder with its announcement yesterday of a $25 billion acquisition in battery supplies to “underpin an aggressive push into electric cars in the coming years” – Bloomberg

Can anyone get bitcoin on the straight and narrow? Never fear. The Winklevii are here – Law360 and MarketWatch

The fine involved—less than $400k—is minor in the grand scheme of things, but the SEC’s settlement with foreign affiliates of three major accounting firms over allegations of improperly using other firms to help them audit a South African company? Well, that’s something to keep an eye on – WSJ and Law360

In search of the latest and greatest in transportation technology? You’d do well to become an honorary Kiwi, as Alphabet’s Larry Page and New Zealand PM Jacinda Ardern have announced an agreement to test Page’s Kitty Hawk project—fully electric, self-piloting flying taxis—on the island in hopes that it will lead to “a commercial network of flying taxis” there by 2021 – NYTimes and Mashable

So long, Stephen, and thanks.  Say hi to Isaac and Albert and Carl for us, will you? – NYTimes and Wired