Your Daily Dose of Financial News

Demolition of an old house
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A recap of Black Friday 2018—big, but not quite as insane as in years past – NYTimes and Bloomberg

Amidst all of that Black Friday and general holiday craziness, the White House released a blockbuster report issued by a collection of 13 federal agencies on Friday warning that, if left unchecked, global climate change could “knock as much as 10% off the size of the American economy by century’s end” – NYTimes and CNN and MarketWatch

We’ve looked in pretty good detail at Third Point’s interest in Campbell Soup and the activist fund’s bid to oust five of the company’s directors in favor of its own slate. Here’s the story of the “long-simmering family tensions” among the Dorrance clan that’s put the company in play in the first place – WSJ

Exxon is hoping to make New York’s climate change probe go extinct by citing a recent NDNY decision involving the National Rifle Association and the First Amendment, arguing that the state’s action is “suppress[ing] the company’s free speech rights on climate change” – Law360

Rather incredibly, after two years of drama and wrangling, Theresa May has an EU-backed Brexit deal.  Now she needs her government to approve it—a dicey prospect in its own right – CNBC and NYTimes and Bloomberg and WSJ

The ongoing Ghosn scandal has hastened a power struggle between Renault and Nissan for control over the alliance that Carlos built and carefully managed over the past 20 years – Bloomberg and WSJ

And let’s not forget about Mitsubishi – NYTimes

New Journal reporting reveals that PayPal’s Venmo unit faced higher-than-expected payment fraud losses in Q1 2018 that led it to “shut down some user features to control the damage” – WSJ

A Danske Bank whistleblower at the center of the massive $230 billion money-laundering fraud at the bank’s Estonian outpost alleges that “almost all” of the money at issue “passed through banks in the U.S.”—an accusation that likely means the scandal is going to get bigger before it fades away – Law360

A deep look at the combination of production costs, supply chains, and market demands through the lens of Columbia Sportswear that makes the current protectionist trade bent coming out of D.C. a nearly impossible to adjust to, even in the face of major tariffsNYTimes

Facebook’s year of major consumer-facing and PR struggles provide the perfect opportunity to step back and assess what some have dubbed the “founder’s dilemma”: when’s the right time for a company to push an iconic founder to “step back before it’s too late” – WSJ

The Journal used Turkey Day this year to consider the holiday as a “management story”—that is, how “extraordinary leaders build happy, productive teams” – WSJ

Need some beyond-the-prosaic ideas for your Cyber Monday buying spree? Don’t worry.  Bloomberg’s got you covered with these “next-level” gift ideas – Bloomberg

MDR

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