Your Daily Dose of Financial News


Markets took a beating yesterday, with investors apparently put off by tech stocks, tensions with China, a recent jump in interest rates and government bond yields, and a tightening Fed monetary policy – WSJ and NYTimes and Bloomberg

Oh, and lucky us, everyone’s getting in on the action – Bloomberg and NYTimes and WSJ

The White House on Wednesday announced plans to expand its review system for foreign investments in American companies, a move that would give the US “greater authority to block Chinese and other foreign transactions on national security grounds” – NYTimes and WSJ

Volkswagen, still struggling to build back trust in the U.S. after its diesel emissions cheating scandal, has named American (and Audi division alum) Scott Keogh to take over its United States operations – NYTimes

An SDNY jury heard opening statements yesterday in the DOJ’s case against former forex traders from Barclays, Citi, and JPMorgan for their alleged collusion to “suppress competition in the forex market.”  This particular trio is infamous for its use of a chatroom named “the cartel” to allegedly conspire – Law360

The DOJ has filed charges against the publishers of Newsweek magazine for their alleged role at “the center of a multimillion-dollar fraud and money-laundering conspiracy” in which their officials misrepresented the magazine’s financial health and created fake financial statements to “dupe lenders” into putting up millions in 2015 and 2016 – NYTimes and WSJ

Congress is reacting to Google’s months-long delay in disclosing its Google Plus unit’s data vulnerability by arguing that tech industry self-regulation is no longer sufficient to protect consumers – WSJ

The DOJ has given conditional approval of the $69 billion merger between CVS Health and health insurer Aetna, so long as Aetna sells off its private Medicare drug plans – NYTimes and WSJ and MarketWatch and Law360

After a mostly quiet summer, Wall Street’s fear index, the VIX, has been blinking again this week – MarketWatch

Canadian regulators are harshing the mellow of the now-booming cannabis-related companies heading into the mainstream, telling the industry that it needs to “improve their disclosure practices or face regulatory action” – Law360

The Journal’s not so sure that SoftBank’s mammoth WeWork investment was its best bet – WSJ

Breakingviews on what the specter of Howard Schultz—and any 2020 presidential ambitions he harbors—looming over Starbucks means for the coffee giant – NYTimes

Sigh . . . the trials and tribulations of being a barefoot runner in the fall.  Here’s a quick slice of life from Nordeast Mpls (with bonus points for pulling the unicycle crowd into the fight) – CityPages


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