Your Daily Dose of Financial News

2.5_iStock_000001809476_BW
image_pdf

Comcast has withdrawn from its bidding war with Disney over 21st Century Fox’s assets, but it will continue in its pursuit of British satellite TV provider Sky PLC – NYTimes and WSJ and Bloomberg and Law360

The White House’s rather heavy-handed intervention in the Broadcom/Qualcomm takeover dispute from a few months ago was all about protecting San Diego-based Qualcomm. But fallout from the Administration’s trade war with China is putting Qualcomm through an equally trying ringer – NYTimes

Alcoa’s found that the tariffs—the first round of which were seemingly specifically designed to benefit America’s top aluminum producer—have made life much more complicated (and expensive), too – NYTimes

The shelving of its own public offering appears not to be deterring Saudi Aramco from going shopping – WSJ

As Wells Fargo struggles to climb out of a mammoth scandal hole of its own digging, it’s currently working through a process of refunding monthly fees to customers for add-on products that they didn’t understand or request – WSJ and Bloomberg

Hedge fund investors pulled roughly $3 billion from funds in Q2—the first “quarterly outflow since early 2017”—with investors moving away from bets on economic trends “as global trade tensions rise” – Bloomberg

Forbes blows open the doors on a whole mess of cultural problems at Papa John’s beyond John Schnatter’s recent foibles – Forbes

As if Jay Powell doesn’t have enough to juggle, he’s now reacting to Presidential criticism over his planned interest-rate hike timeline—a “rare rebuke by a sitting president that upends longstanding executive branch protocol to avoid commenting on monetary policy” – NYTimes and WSJ and MarketWatch

Yesterday’s confirmation hearings for the White House’s CFPB pick, Kathy Kraninger, were the bumpy road that many expected – Law360

Oft-maligned Philly is in the midst of a bit of revival, with hipsters and immigrants alike making it an ex-New York destination of choice in a quest for a more affordable American Dream – NYTimes

Carnoustie’s nasty 18th looks to again be a major factor in this weekend’s hunt for the Open Championship – NYTimes

On the road again early next week, so enjoy a brief respite, and we’ll see you back here on the 26th.

Have a good weekend,

MDR

Leave a Reply

Email addresses and comments are not displayed publically.