Your Daily Dose of Financial News

Demolition of an old house
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As expected based on buzz from late last week, longtime CBS chief Les Moonves is out at the network he’s led for more than 20 years.  While his exit has been in the works for some time, a report out yesterday detailing new sexual harassment allegations against him likely influenced the timing of his departure – NYTimes and WSJ and Bloomberg

Alibaba’s Jack Ma is taking a more graceful (if equally sudden) leave from Alibaba, the $420 billion internet company that he co-founded. CEO Daniel Zhang will assume the chairperson’s seat after a year’s transition period – NYTimes and WSJ and Bloomberg

The Upshot takes to the Delorean to consider whether we’re living in an economic throwback to the mid-90s—the “strongest period of growth and prosperity in recent decades.” There are, to be sure, more than a few parallels – NYTimes

We’re not even in GDPR territory, but Google’s appeal this week before the EU’s top court will do much to decide the limits of nations’ legal authority over the internet across country lines. At issue is a lower court order that extended the EU’s “right to be forgotten” to Google’s search engines across the globe – WSJ

Here’s something to keep an eye on in coming years—the Times profiles Lina Khan, the 29-year-old antitrust prodigy who has her academic sights set on Amazon and the rest of Big Tech – NYTimes

Your Daily Dose financial term of the week: “countercyclical capital buffer”—a regulatory tool that central banks developed after the 2008 financial crisis that require large banks to “sock away additional capital during good times so they have more to fall back on when loans go bad during bad times” [which the Fed is considering putting in play now while times are good] – WSJ

A roundup of last Friday’s solid jobs report – Marketplace

Citigroup picked an unfortunate time to come up with “a relatively safe method of trading in crypto” with its digital asset receipts, or DARs – Bloomberg

The Journal gives us this interesting look on what, exactly, happened to risk taking in the years after the last financial crisis – WSJ

The SEC has accused former Teva Pharmaceutical chair Phillip Frost (and a handful of others) of masterminding a pump-and-dump scheme that generated more than $27 million for those involved – WSJ and Law360

The busy agency also halted trading in two crypto-linked securities (Bitcoin Tracker One and Ether Tracker One) over the weekend “citing investor confusion regarding the assets” – Bloomberg and MarketWatch

It was an eventful women’s final at the U.S. Open this weekend, but in the end, we were treated to a display of class from Serena that matched Naomi’s prowess on the court – MarketWatch

MDR

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