Your Daily Dose of Financial News

Demolition of an old house

Some analysis of last week’s jobs report, including thoughts on why a sub-4% unemployment rate poses a problem for a Fed still set on a slow and steady rate hike plan – WSJ and Bloomberg

Last week we discussed the recent round of executive shake-ups at Nike over workplace harassment and bias allegations. Nike’s CEO Mark Parker—after addressing all employees at a rare company-wide meeting last week—is promising more changes – NYTimes

Mr. Buffett’s well on his way to sketching out a Warren-less future for Berkshire Hathaway, as alluded to at this weekend’s annual BuffettapaloozaWSJ

Wells Fargo will pay $480 million to end a consolidated securities class action in California federal court involving allegations of “fraud and insider trading by the bank’s top brass over its yearslong illegal creation of up to 3.5 million unauthorized accounts” – Law360

Everyone agreed.  Libor was a scandal-ridden mess. It was time to just scrap it and move on. Except, turns out Libor wasn’t playing along, and now $370 trillion of “instruments across various currencies” hangs in the balance – Bloomberg

Yet another important look at one of the world’s most feared regulators—European Union antitrust enforcer Margrethe Vestager, a Dane whose “rulings against Apple, Facebook, Google and Qualcomm have positioned the European Union, rather than Washington, as the world’s de facto Big Tech regulator” – NYTimes

Kraft spinoff Mondelez International is in talks to buy Tate’s Bake Shop in a deal potentially worth $500 million – WSJ

Meanwhile, former Kraft partner Starbucks has agreed to a $7 billion deal with Nestle in which the Swiss company will take over Sbux’s “retail marketing and sales business” and the “rights to sell the chain’s coffee, tea and food products in grocery stores and other outlets globally” – WSJ and MarketWatch

The Times looks at the death of women (less than 10%) heading up mutual funds – NYTimes

The Journal suggests that the dustup around Elon Musk’s Tesla investor call last week is mere distraction from the real barnburner of a story: Tesla’s finances are “deteriorating” – WSJ

US/China trade talks wrapped last week with strong demands from both sides but relatively few signs of a concrete deal between the two superpowers – NYTimes

One of the Times Sunday Magazine’s “Crime Pays” stories explored the 2016 attempt to steal nearly $1 billion from Bangladesh’s central bank by exploiting weaknesses in the international bank transfer order network Swift – NYTimes

What’s that? Time for an April local news recap?  Sounds about right – NewsBeFunny


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