Your Daily Dose of Financial News

Demolition of an old house

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


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