Your Daily Dose of Financial News

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US banks are reporting that cases of financial abuse of seniors are on the rise. Treasury department data showed a 2-fold increase in suspected cases from just 5 years ago and a 12% increase from just a year ago – WSJ

A look at the creep of spytech into the business realm, particularly in the form of “small and inexpensive ‘cube satellites,’” which startups are employing (along with their cameras and sensors) to deliver information on activity in and around businesses all over the globe – NYTimes

The 10th Circuit has determined that the Dodd-Frank Act allows the SEC to pursue extraterritorial securities fraud claims in certain circumstances. In the case at hand, the agency sought to prosecute a Utah man who was selling securities online abroad in a likely Ponzi scheme – Law360

Following its split with Carlos Ghosn yesterday, French automaker Renault named Michelin chief executive Jean-Dominique Senard as its new Chair and Renault COO Thierry Bollore as new CEO. The “quick transaction” should help shore up the flagging relationship between Renault and Nissan – NYTimes and WSJ

BuzzFeed joined a spate of other news organizations making cuts this week and announced plans Wednesday night to lay off as many as 200 employees, or roughly 15% of its workforce – NYTimes

The DOJ this week told ND. Ill. Federal Judge John Tharp that spoofing is wire fraud and that the ex-Deutsche Bank traders its pursuing should be found guilty regardless of whether they made any affirmative misstatements to others – Law360

America’s major airlines are complaining that the ongoing partial government shutdown is pushing them towards a “tipping point” that would mean not only huge problems for the nation’s air infrastructure but major difficulties in rebounding even after the impasse is solved – Bloomberg

More on the efforts from both sides of the aisle to solve the problem of Fannie and Freddie under government control – WSJ

ECB chief Mario Draghi has “sounded the alarm” about rising economic risks in Europe and has signaled that the European Central Bank “could be even more cautious about any withdrawal of crisis-era stimulus this year”—a change from even 6 weeks ago, in which he described risks as “broadly balanced” – Bloomberg

Streetwise is using this year’s Davos as an opportunity to get all big picture on us—as in, what’s this whole finance thing about, anyway? For some in finance, at least, it needs to be more about a sense of ownership and less about financial tourism – WSJ

The latest and greatest in cuisine thousands of miles away from the Big Apple? You’d better believe that the Twin Cities are in the mix (and, yes, we’ll forgive the whole “new” label) – Bloomberg

Have a great weekend,

MDR

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