Your Daily Dose of Financial News

Demolition of an old house
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A recap of last week’s US jobs numbers, which, though smaller than expected, were awfully solid – NYTimes and WSJ

Last week, we looked at Angola’s near-miss on a $500 million scam stopped at the last possible second by a diligent teller. Today, we consider the plight of Denmark’s Tax Agency, which wasn’t so lucky.  Like “$2 billion is missing” kind of unlucky – NYTimes

The slowly rising interest rates in recent years have helped boost profits for banks, but we’re rapidly heading into other-side-of-the-coin territory, as those same banks now face consumers’ wariness over more expensive mortgages and the need to start paying depositors more – WSJ

China’s central bank will pump $174 billion into its economy, a move designed to “help small and midsize businesses in particular” that some are interpreting to mean that China’s economy “is really not doing well” – NYTimes

It’s also considering more creative ways to hit back against US tariffs. Think less one-for-one levies and more deal disruption – NYTimes

Law360 suggests that the boundaries of the OCC’s fintech charter offering are more than likely to be shaped by “a wave of litigation” that will test the business model of the startups partnering with banks – Law360

Ford’s taking pains to clarify that it’s not in crisis mode.  Still, with a falling stock and declining sales overseas, the American automaker has outlined plans to eliminate several thousand jobs and engage in global partnerships with other car companies like Volkswagen and Mahindra – NYTimes and WSJ

Dutch-based search and data software company Elastic NV powered through a rough Friday for tech stocks and doubled its value on its IPO day on the NYSE – Bloomberg and Fortune

Target’s hoping to compete with bargain hunters with its Smartly brand—a low-cost (mostly sub-$2) line of consumer staples meant to keep shoppers from heading to Aldi or Dollar General for certain basics – WSJ and Bloomberg

I mean, seriously.  There are pranks.  And then there’s the next level of evil genius that Banksy pulled off immediately after a version of his “Girl With Balloon” sold at Sotheby’s for 1 million pounds.  Just bow down, folks – NYTimes

MDR

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