Your Daily Dose of Financial News

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China is answering the White House’s latest tariff announcement with another $60 billion in levies on US goods of its own – Bloomberg and WSJ and Marketplace

Thing is, the tit-for-tat numbers for China on that one don’t work out evenly – NYTimes

So we need to watch out for other areas of leverage – Bloomberg

A group of job seekers has filed charges with the EEOC against Facebook and 9 employers over the social media giant’s use of technology that helps employers exclude female candidates from recruiting campaigns – NYTimes and TheGuardian

The European Commission’s antitrust watchdog has opened an “in-depth investigation” into allegations that major German automakers VW, BMW, and Daimler AG “colluded to limit the development and implementation of certain emissions control systems.” The investigation has its roots in raids of the three companies’ HQs last October – Law360

White Collar Watch unpacks recent government efforts to bring some order to the generally Wild West feel of the initial coin offering world, thanks, in part, to a recent federal court decision out of Brooklyn – NYTimes

The NY AG’s office is out with a new report that finds many cryptocurrency exchanges “lack basic consumer protections and are vulnerable to exploitation by market manipulators” – WSJ and Bloomberg

Swaps broker Intercapital Markets LLC with fork over $50 million to settle CFTC allegations that it “helped banks manipulate the ISDAfix benchmark to benefit their derivative positions” for more than 5 years for the benefit of its banking clients – Law360 and WSJ

Tesla reported yesterday that the DOJ has opened an inquiry into Elon Musk’s now infamous “funding secured” tweet from early August. The inquiry coincides with the SEC’s “wide-ranging investigation into Tesla” – NYTimes and WSJ and Bloomberg and Law360

Insurance broker Marsh & McLennan has agreed to a $5.66 billion deal to purchase UK-based Jardine Lloyd Thompson Group, a move that M&M says will “strengthen its specialty risk-broking operations and expand its global reinsurance network”—particularly in high-growth emerging markets – WSJ

Meanwhile, in its day job, Marsh Ltd. sent some shivers down the spines of global businesses in a new report that questioned the insurability of GDPR fines – Law360

The one true American dressing?  Please.  Let’s think bigger.  For many, Ranch is something closer to a way of life – NYTimes

MDR

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