Your Daily Dose of Financial News

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If the London Times is to be believed, the John Cryan era at Deutsche Bank appears to be coming to a rather unceremonious close – Bloomberg and WSJ

After almost a year of fending off a hostile takeover bid from rival PPG Industries, Dutch paint and chemical giant Akzo Nobel has agreed to sell its specialty chemicals unit to PE firm Carlyle Group for $12.5 billion in a move intended to streamline its focus on paint and coatings (and make Paul Singer happier) – Bloomberg and WSJ

The Times explores the meteoric dealmaking rise of China’s HNA Group with a particular focus on the role of Wang Wei, the younger brother of HNA’s longtime co-chairman Wang Jian – NYTimes

Meanwhile, the news for China’s other former dealmaking power—Anbang Insurance Group—continues to get worse. China has accused Anbang’s founder Wu Xiaohui of defrauding investors of more than $10 billion just a month after seizing his debt-ridden company – NYTimes and WSJ

Alphabet’s driverless car division Waymo has been in the news lately for its epic dispute with Uber.  But, as indicated by its recently announced partnership with Jaguar Land Rover, it’s been busy in the lab as well – NYTimes and WSJ

The US Court of Appeals for the Federal Circuit dealt a mammoth blow—even by Googleplex standards—to Google yesterday by ruling that its “use of Java shortcuts to develop Android went too far and was a violation of Oracle’s copyrights,” a decision that could cost Google $8.8 billion (according to Oracle’s damages calculations). Most IP experts acknowledge that the ruling—which centers on the limits of the fair use doctrine—is important but caution that the war is far from over – Bloomberg and Law360

More big pharma news, as Japan’s Takeda confirmed that it’s considering a $50+ billion takeover of drugmaker Shire Plc – Bloomberg and WSJ

Benchmark interest rates like Libor appear to be rising at a quicker pace than the Fed’s short-term rates, a trend that’s making borrowing more difficult and that some analysts fear could slow economic growth – WSJ

Your casual market watcher would likely assume that Monday’s 670-point surge was nothing but a good thing. Your literal MarketWatch[er] would reach about as opposite a conclusion as possible – MarketWatch

The general consensus is that Jelena McWilliams’ arrival as head of the FDIC in April will only hasten the administration’s anti-regulation policies – WSJ

Motor City no more? There’s at least some basis for considering the moniker “Ag City,” given the surprising post-recession rise in urban farming in Detroit – Marketplace