Your Daily Dose of Financial News


With the phrase “humiliating defeat” being bandied about quite freely by opposition leaders and Tory backbenchers alike, PM May delayed a parliamentary vote for her EU-backed Brexit plan that had been set for today. The Northern Ireland question that had plagued negotiations was an important element in lawmakers dissatisfaction with the plan – NYTimes and WSJ and Bloomberg and MarketWatch and Marketplace

On Monday, Qualcomm revealed that a November 30 Chinese court order instructed Apple to “stop selling older iPhone models in China” based on a finding that Apple infringed on two Qualcomm patents. Apple called Qualcomm’s effort to stop its sales a “desperate move” and said that it planned to keep selling all phone models in China – NYTimes and WSJ and Bloomberg and MarketWatch

Google will quicken the pace of its Google+ social network shutdown after learning that it had inadvertently “exposed the private profile information of 52 million users to outside app developers,” the second serious data breach for the platform this year – WSJ and Law360

We’ll be watching to see whether the breach comes up today when Google CEO Sundar Pichai testifies before the House Judiciary Committee about the company’s data collection and its search business. Pichai is expected to back federal privacy legislation in his scripted remarks to the committee – Bloomberg and NYTimes

Investors suing Deutsche Bank over its alleged failures as RMBS trustee and the bank itself filed competing motions for summary judgment last week, both hoping to narrow (or dismiss entirely) the issues left for a fact-finder to resolve – Law360

At this point, should anyone really be surprised when the Amazon disruption machine sets its sights on another industry—no matter how seemingly unexpected? So now, we’re talking computer chips, and Intel’s taking notice – NYTimes

A bit of SCOTUS news with potential sweeping regulatory implications. The High Court has agreed to take up a challenge to “so-called Auer or Seminole Rock deference”—which tells judges to “defer to an agency’s interpretation of its own ambiguous regulation” and “gives federal agencies an important tool to defend themselves against lawsuits related to regulatory actions” – Law360

Activist investor Starboard is using its nearly 10% stake in to push the company to “improve its performance or consider selling itself or making management changes,” just 9 months after the company and fund reached an apparent truce – Bloomberg

The White House is expected to nominate a Treasury Department official, Heath Tarbert, to replace J. Christopher Giancarlo as CFTC chief sometime early in the new year. Tarbert currently works on international markets and represents the U.S. at the FSB and other regulatory bodies – WSJ

Some ruminating about what the arrest of Huawei’s Meng Wanzhou means for the future of corporate travel, especially for execs in both China and Silicon Valley – NYTimes

Against that fun backdrop, the US and China have reinitiated trade negotiations, though only via phone at this point – WSJ

Thanks to New York’s Landmarks Commission, Philip Johnson and John Burgee’s AT&T building, a post-modern masterwork, will live to see a new day in a form substantially similar to its original presentation. But turning the famed “decorated shed,” in Venturi and Scott Brown-speak, into a workable 21st century office building will still take some doing – NYTimes


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