Your Daily Dose of Financial News

2.1_iStock_3994514_BW
image_pdf

Even while we’ve spent that past few weeks looking back at the origins of the 2008 financial crisis a decade later, market watchers are keeping an eye on the roots of the next one that “might already be taking hold.” Some potential areas of concern: student loan debt, corporate debt, increasing lending to risky companies, emerging markets, and shadow lending, among others – NYTimes and MarketWatch

The Times profiles Mary Daly, the incoming head of the San Francisco Fed, whose path to that august position includes dropping out of high school before eventually earning her doctorate from Syracuse – NYTimes and Bloomberg

New trade talks and major business opposition be damned, the White House is set to unveil new tariffs this week on $200 billion in Chinese imports – WSJ and Bloomberg

Amazon’s facing a bribery scandal centered on employees—with the aid of external intermediaries—reportedly leaking internal data, deleting negative reviews, and restoring banned accounts in exchange for cash – WSJ and Cnet

Citigroup will pay $12 million to resolve an SEC inquiry into its alleged practice of misleading investors “who thought they were paying a premium to keep their trading activity shielded from interference by high-frequency traders” – NYTimes and Law360

“Queen of the Internet” Mary Meeker is decamping from Silicon Valley VC powerhouse Kleiner Perkins by the end of the year and taking other Kleiner alums with her to start up her own firm that will focus on late-stage investing – NYTimes and WSJ and Bloomberg

Salesforce.com founder Marc Benioff is joining a spate of other tech-world giants in buying up a traditional news publication with his $190 million purchase of Time Inc. from Meredith Corp. – WSJ and NYTimes

New York’s state bank regulator has sued to bar the OCC from offering a special purpose national bank charter to Fintech companies, arguing that the plan is “lawless, ill-conceived, and destabilizing of financial markets that are properly and most effectively regulated by New York state.” But, you know, other than that . . .  – Law360

Wells Fargo is reporting that its years of scandals and governance issues are catching up with its business lending operations. The bank announced on Friday that its total loans outstanding at the end of Q2 were down by $3 billion as compared to the prior quarter – WSJ

French fashion icon Chanel is transferring its global corporate operations from New York to London, one of the few bits of corporate news for the post-Brexit UK – Bloomberg

The incredible Maya Rudolph, ladies and gentlemen, and the path to her uncanny everywomanness – NYTimes

MDR

Leave a Reply

Email addresses and comments are not displayed publically.