Your Daily Dose of Financial News

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The G-20 summit in Buenos Aires wrapped this weekend with the nations agreeing to a joint statement that “affirms the importance of the multilateral trading system” while giving ground to both the US and China over language on protectionism and unfair trading practices – WSJ and Bloomberg and Law360

A China-US dinner on the sidelines of the G-20 helped lead to a temporary ceasefire in the tariff war between the world’s two biggest economies – Bloomberg and NYTimes

As the global economy “palpably weaken[s]” and major industrial countries contract or slow in growth, lingering wounds from the 2008 financial crisis are again rearing their ugly heads – NYTimes

The DOJ is accusing global consulting powerhouse McKinsey & Co. of failing to disclose its dual roles in at least three bankruptcy cases as a creditor of the companies it was advising – NYTimes and Law360

Amazon and Apple’s march toward a trillion has been dominating financial headlines over the past year. All the while, Microsoft has been quietly selling “humdrum yet fast-growing computing services to companies” and, in the process, has reclaimed its title as world’s most valuable company for the first time since 2003 – WSJ and MarketWatch

All three companies are on the Drucker Institute’s 2018 list of the top 25 best-run companies in the U.S. – WSJ

Qatar’s calling it quits in OPEC, announcing in leaving that it intends to focus on increasing its natural-gas production – WSJ and Bloomberg and MarketWatch

The Federal Rules of Civil Procedure governing class actions (that would be Rule 23, for you Civ Pro sticklers out there) changed over the weekend, with updates that focus on “the settlement approval process, class notice and objections, with objections seeing the biggest shift.” The new language is “meant to rein in so-called professional objectors” and will “require any objector who is receiving a payment to drop their criticism to get approval from the judge first” – Law360

White Collar Watch evaluates the recent news that the Justice Department and SEC are “looking at the account and disclosures of General Electric, Tesla and Snap” and reminds us that “the government rarely commits resources without evidence that there may be significant misstatements” contained within their books – NYTimes

Nissan’s Ghosn scandal appears to have its first non-Carlos-related casualty, as the automaker announced that it’s delaying unveiling a 2.0 version of its all-electric Leaf – WSJ

Basilicata, meet the rest of the world.  Like it or not – NYTimes

MDR

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