Your Daily Dose of Financial News

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We used to call it Nafta.  If the White House has its way, we may be talking about M/USTA and C/USTA.  Doesn’t exactly roll off the tongue, does it? – NYTimes

Also, we’ll see what any trade deals look like now that both Mexico [NYTimes] and Canada are actively fighting back against US steel and aluminum tariffs – TheGuardian

China, on the other hand, is reportedly offering to buy roughly $70 billion in US goods in exchange for the White House abandoning threatened tariffs – WSJ

Tesla’s annual shareholder meeting was far from the lovefest to which Elon & Co. have been accustomed. Instead, several investor proposals sought to replace board members or force Musk to give up one of his two top positions. All, however, were defeated – NYTimes and MarketWatch

UK regulators have indicated that they’re prepared to give the nod to a pared-down Fox in its move for satellite broadcaster Sky. The green light, however, is less clear sailing for Rupert Murdoch than it is the near-certain kickoff of a bidding war between Comcast and Fox – NYTimes and WSJ

Wells Fargo is trimming the size of its branch network, agreeing this week to sell 52 Indiana, Michigan, Ohio, and Wisconsin locations to Flagstar Bancorp. Wells hopes to pare back the number of its retail branches by nearly 800 more over the next few years – WSJ and AP

Former Nomura RMBS trader Michael Gramins—convicted of conspiracy last year on allegations of “padding transactions with secret commissions” —will get a new trial based on the 2d Circuit’s reversal of former Jeffries Group trader Jesse Litvak’s conviction last month – Law360

Facebook revealed on Tuesday that it gave data access to at least four Chinese electronics companies, including Huawei—the telecommunications equipment company “flagged by American intelligence officials as a national security threat” – NYTimes and Bloomberg and Law360

Nothing’s sacred in 2018, it would seem.  So long, IHOP.  It’s been a good ride.  If we really need a “b” to let everyone know that you serve more than just pancakes . . . well, then I’m not sure we deserved you anyway – USAToday

MDR

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