Your Daily Dose of Financial News

Demolition of an old house

Uber’s throwing in the towel on Otto, its self-driving truck unit that was at the center of an IP-theft scandal with Waymo and will shift its focus to autonomous cars – TechCrunch and DailyMail

The CBS board of directors has agreed to keep now-embattled CEO Les Moonves in his job while it (and the outside law firm it hires) investigates allegations of sexual harassment against Moonves – NYTimes and WSJ and Bloomberg

Dealbook’s White Collar Watch has its eye on the effect of SCOTUS’s Kokesh opinion on SEC’s enforcement actions—in particular, the agency’s reaction to the new 5-year window to seek repayment of any ill-gotten gains and its ability to prosecute cases successfully within that period – NYTimes

The US has dropped all remaining claims against former Jeffries Group managing director Jesse Litvak stemming from his alleged lies to clients rather than heading to a third trial. Coupled with the jury acquittal of former Cantor Fitzgerald trader David Demos, it was a rough Monday for the DOJ – Bloomberg and Law360

Hoping for a similar fate, former Barclays trader Robert Bogucki is seeking dismissal of criminal “front running” claims against him by arguing that he and his former employer owed “no duty to act in the best interests of Hewlett Packard Co.” in a nearly $8 billion forex options transaction – Law360

The Journal gives us this disturbing snapshot of the pension hole that US cities and states are staring down at the moment and, oh by the way, it’s a hole the size of Japan’s economy.  That’s $5 trillion. Yikes – WSJ

Yes, the US economy is currently humming along at a very fine clip.  But that doesn’t mean that Morgan Stanley’s not looking around the corner for a correction that will make February’s dip look tame (and a nasty couple of days for the Nasdaq aren’t helping) – Bloomberg and MarketWatch

A quick reminder that a worst-case Brexit-no-deal scenario would be an unmitigated disaster for Britain, with border gridlock and food shortages among the more prominent results of the failure – NYTimes

Today’s look at the ramifications of White House tariff policies focuses on the US meat industry – WSJ

The 9th Circuit has refused to revive a class action against Barclays for allegedly “misleading institutional investors about their expose to high-frequency traders in its so-called LX dark pool” over plaintiffs’ failure to spell out the “who, what, when, where and how” of their alleged reliance on the bank’s dark pool marketing – Law360

Bloomberg explores the “spectacular collapse” of Arif Naqvi and his Dubai private equity firm, Abraaj, which finds itself defaulting on a staggering $1.1 billion of debt at the moment – Bloomberg

Facebook’s been dropping some cash on apology ads in an effort to win back users troubled by its data-harvesting scandals. But for anyone out there who’s not quite buying Zuck’s mea culpa—well, you’re far from alone – LastWeekTonight


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