Your Daily Dose of Financial News


More than 800,000 government employees missed their first paycheck last Friday because of the continuing government shutdown. But the pain extends well beyond those workers and has put loads of government contractors in a world of hurt that doesn’t come with back pay – NYTimes [and WSJ and MarketWatch]

California utility giant PG&E, still reeling from “mounting wildfire liabilities,” is in the market for a new CEO after Geisha Williams stepped down over the weekend. It’s also planning to notify workers of a “potential Chapter 11 filing” – Bloomberg and NYTimes and WSJ and MarketWatch

For years, investors decried the monotony of the bull market and looked desperately for yields. Now, with the return of volatility, the search for safety is all the rage – NYTimes

A host of US agencies, including the SEC, Commerce Department, and a Treasury Department-led panel, have opened a probe into Boeing’s relationship with a Chinese government-backed satellite startup – WSJ

Workplace messaging company Slack revealed late last week that it intends to follow Spotify’s lead and pursue a direct-listing public offering and “bypass a traditional IPO” – WSJ

The NLRB on Friday issued “a surprise two-extension of the public comment period” in its proposal to “roll back its controversial Browning-Ferris joint employer test.” The comment period, already extended several times, has seen nearly 30,000 comments filed and a “sharp divide between pro-business and pro-labor factions over how broad the standard should be” – Law360

Elon Musk’s rocket venture, SpaceX, announced that it’s cutting roughly 10% of its workforce as part of what its framing as a “necessary cutback to position the company for an unchartered future” – NYTimes and WSJ and Mashable

Forex strikes again. On Friday, “hundreds of institutional investors” accused banking giants—including Barclays, Citi, HSBC, and JPMorgan, among others—of “conspiring to rig the foreign exchange market” and are “seeking billions of dollars in damages for antitrust violations” in London’s High Court – Law360

How about this blast from the past for those of us of a certain vintage.  The publisher of the “Choose Your Own Adventure” book series has sued Netflix over its recently released “Black Mirror: Bandersnatch,” an interactive film – WSJ

Troubled Danish lender Danske Bank is prepping for France to launch a formal investigation into the bank’s AML practices that potentially violated France’s anti-money laundering legislation between 2007 and 2014 – Law360

Not exactly your Indiana Jones brand of archaeology, but, considering that this is actually real, involves tartar, and may help rewrite women’s place in medieval history, we’ll definitely take it – NYTimes


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