Your Daily Dose of Financial News

Demolition of an old house
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We’ll say this—it’s not been dull over in the UK. There’s Wimbledon, the march of the Three Lions, oh, and also, less than a day after Brexit secretary David Davis and a key associate quit her government, PM May’s foreign secretary (Boris Johnson) announced his departure – NYTimes and WSJ and Bloomberg

Wall Street’s love of rental-home investments is only increasing, with major investors (think Blackstone Group, Starwood Capital, and Goldman’s Pretium Partners) snapping up 60% more homes in 2017 as compared to a year earlier—all based on a bet that home ownership is no longer a cornerstone of the American Dream  – WSJ

Add Nissan to the list of Japanese automakers who have admitted to falsifying product-quality data. An internal review made public yesterday showed that Nissan inspectors used “altered measurement values” on emission inspection reports. The admission comes less than a year after Nissan shut down production and recalled 1.2 million cars after discovering that uncertified technicians had performed vehicle inspections – NYTimes

A proposed class of 21st Century Fox investors is alleging that Fox violated the Securities and Exchange Act by “misrepresenting financial figures in documents” filed with the SEC related to the $71 billion deal it reached with Disney last month – Law360

Love the idea of ICOs? If so, you better love rolling the dice, too. Because more than half of crypto startups die within 4 months of their token sales, a rather staggering figure revealed by a new Boston College study – Bloomberg

Some thoughts on what China’s voracious appetite for soybeans will mean as the Sino-American trade war heats up – NYTimes

Smuckers is unloading the Doughboy, selling its US baking business to private equity firm Brynwood Partners for $375 million – WSJ

Our recession spidey senses are starting to tingle again, thanks to the 2% spread between the corporate Baa bond index and 10-year Treasurys – Bloomberg

Uber’s dropped some of its cash for a stake in electric scooter company Lime, just months after adding electric bike company Jump to its stable—all part of “a furious land grab in the transportation world” – NYTimes and Bloomberg and Marketplace

Incredibly, we’re just about halfway through 2018—an accomplishment that merits a spin down viral boulevard – Mashable

MDR

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