Your Daily Dose of Financial News

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So about that whole going private thing.  Change of plans for Elon & co. Here’s the inside scoop on the reversal – NYTimes and WSJ and Bloomberg and MarketWatch

The US and Mexico are reportedly nearing a breakthrough on several “key issues holding back renegotiation” of Nafta, including industry exemptions, local content requirements, and the investor-state dispute settlement system – WSJ and Bloomberg

US/China talks on the other hand . . . .  Well, that’s a different story altogether – WSJ and Bloomberg

An analysis of Chair Powell’s Jackson Hole keynote address from Friday, including an endorsement of the “strong” economy and a rejection of fears of overheating inflation – NYTimes and Bloomberg

Not everyone was impressed with Powell’s big speech – NYTimes

While we’re thinking about the American economy, here’s an interesting Upshot piece on the outsized impact that the mix of “superstar firms” (that dominate “many leading industries”) and Amazon are having on the overall economy—perhaps to the detriment of the Fed and its ability to effectively steer the ship – NYTimes and Bloomberg and Marketplace

The SEC has agreed to reconsider a staff decision rejecting 9 proposed bitcoin-based ETFs at the commissioner level, “meaning agency leaders will take a closer look at a potentially innovative but untested investment idea that worries skeptics about fraud possibilities” – Law360

Korea’s antitrust authorities are proposing pretty significant changes for the country’s famed chaebols (massive family-run conglomerates—like Samsung, for example) that would “make it harder for such businesses to muscle through their agendas at the expense of minority shareholders” – Bloomberg

Last week, the Second Circuit rejected government argument that would’ve expanded the reach of the Foreign Corrupt Practices Act to “foreign nationals without ties to U.S. entities for bribery crimes that take place outside of the U.S.” – Law360

We’ve long been told of Americans’ love affair with automobiles.  And while that’s not changing, the kind of automobile is.  Big time. As in, so long, sedans.  It’s been real – WSJ

Enjoying this ode to night owls from a card-carrying DSPSer – NYTimes

MDR

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