Your Daily Dose of Financial News

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As expected, Theresa May’s Brexit deal was roundly defeated in Parliament yesterday by an overwhelming 230-vote margin, the biggest House of Commons loss for a PM “in recent British history.” Following the vote, Labour Party leader Jeremy Corbyn called for a no-confidence vote – NYTimes and WSJ and Bloomberg and MarketWatch and Marketplace and Law360

The DOJ has charged two overseas traders with hacking the SEC’s Edgar corporate filing system between February 2016 and March 2017 in an effort to commit securities fraud – NYTimes and WSJ and Law360

The Journal is reporting that WeWork CEO Adam Neumann is making millions by leasing buildings he owns back to WeWork, raising concerns about a “potential conflict of interest in which the CEO could benefit on rents or other terms with the company” – WSJ

The White House is reportedly considering naming former Pepsi CEO Indra Nooyi as World Bank president – NYTimes and WSJ

PE firm Apollo is close to finalizing a deal to purchase aerospace-parts maker (and former part of Alcoa) Arconic for more than $10 billion, “ending months of negotiation over what would be one of the largest leveraged buyouts in recent years” – WSJ

UK prosecutors have kicked off their second trial of three former Barclays employees “accused of participating in a conspiracy to rig global interest rates to rip off counterparties that did business with them” after a hung jury in the first trial – Law360

Eddie just can’t quit Sears, and if a bankruptcy judge approves, his ESL Investments fund will be allowed to keep the retailer in business (in at least some of its locations) – Bloomberg and WSJ

Netflix is hiking prices for subscribers by the largest amount—“anywhere from 13 to 18 percent depending on the subscription plan”—since it began offering streaming services 12 years ago.  Considering the company’s commitment to spending more than $18.6 billion on content, the news was virtually inevitable – NYTimes and WSJ and Bloomberg and MarketWatch

The Council of Economic Advisers has released revised numbers showing that the longest government shutdown ever is causing twice as much damage to the American economy as originally projected – NYTimes

A Japanese court has denied former Nissan chair Carlos Ghosn’s bid for bail, raising the prospect that he could face six months to a year in jail before his trial begins – WSJ

Snap Inc. CFO Tim Stone is out after just 8 months on the job at the Snapchat parent company – Bloomberg and MarketWatch

One could be forgiven for thinking that an ad encouraging men to confront toxic masculinity and to get on the right side of the #MeToo movement would be a good thing.  But that would be too easy, it seems – NYTimes

MDR

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