Your Daily Dose of Financial News

Demolition of an old house

Your guide to Fed Chair Powell’s first FOMC decision day, where most expect a rate hike and are keeping an eye on just how many we’ll see this year – Bloomberg and NYTimes and WSJ

Facebook’s bad week now includes still-sliding shares, a departing chief security officer, and an FTC inquiry  – NYTimes and WSJ and Bloomberg

A group of Zuck’s shareholders have already filed a stock-drop suit in California federal court over the scandal – Law360

The European Commission has drafted a new set of digital taxes as an answer to last year’s US tax overhaul that imposed a new minimum tax on the overseas efforts of companies with US operations. The EU’s plan would require Silicon Valley’s tech giants to pay taxes “based on where they generate revenue, rather than where they have their regional headquarters”—a move that could cost tech giants a mess of cash and that would only deepen tax and trade tensions between the US and Europe – NYTimes

The Senate Banking Committee has apparently been busy quietly delivering a message to its House counterparts over the recent bipartisan Dodd-Frank overhaul bill that passed the Senate last week: hey—don’t mess this up – WSJ

German prosecutors on Tuesday raided BMW’s Munich headquarters as part of their “continuing investigation into an emissions-cheating scandal that has badly damaged other German carmakers.” BMW, to this point, has emerged “relatively unscathed” by the scandal – NYTimes

The Supreme Court has ruled that state courts can continue to hear certain securities class actions brought under federal law, unanimously ruling that “amendments to the federal Securities Act of 1933 do not in fact give the federal courts exclusive jurisdiction over covered class actions brought under the law” – Law360

The SEC’s recent warnings about the viability of ICOs and the agency’s intention to scrutinize them appear to be making a mark. Though March offerings are still expected to raise nearly $800 million, that figure represents a 45% decrease from February’s total – WSJ

Speaking of the agency, its chief Jay Clayton on Monday gave a few more hints about the look of the SEC’s forthcoming fiduciary duty proposal – Law360

Travel site Orbitz yesterday disclosed a possible data breach of its operations that could impact the personal information of nearly 900,000 payment cardholders – WSJ and HuffPo and Law360

Marketplace on how a host of recent bankruptcies are making it unmistakably clear that those teen years are lost and gone forever – Marketplace

Fascinating look at the rise in the participation of veterans at the Paralympic games [and while we’re at it, how about another ridiculous US hockey win – NBC] – NYTimes