Your Daily Dose of Financial News

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With new data pointing to similarities between the Lion Air and Ethiopian Air Boeing 737 Max 8 crashes, the White House has decided to override the FAA and ground all models of the plane in the US – NYTimes and WSJ and Bloomberg and MarketWatch

Federal prosecutors are reportedly conducting multiple probes into “data deals Facebook struck with some of the world’s largest technology companies,” with a New York grand jury already considering subpoenaed records from smartphone makers who “had entered into partnerships with Facebook, gaining broad access to the personal information of hundreds of millions of its users” – NYTimes and MarketWatch

Speaking of the ‘Book, the site—and its Instagram and WhatsApp apps—had a rough Wednesday.  All at the same time – NYTimes and WSJ

A SoftBank-led consortium of investors is in “late-stage talks to invest $1 billion or more” in Uber’s autonomous vehicle unit, a move that would help the company present a strong case for investors in its coming IPO – WSJ and Bloomberg and NYTimes

The highly anticipated trade meeting between Chinese and American leaders that had been rumored for March is getting bumped, with Chinese President Xi reportedly scrapping plans to travel to the US following his European trip later this month – Bloomberg

UK lawmakers, just a day after rejecting PM May’s latest Brexit proposal, “unexpectedly ruled out a no-deal exit” from the EU yesterday, throwing yet another wrench in the already insane Brexit process – WSJ and Bloomberg

In an effort to fend off the ever-encroaching Amazon, Walmart is trying its own hand at food delivery, and its early foray into the delivery biz has already exposed some of its perils – WSJ

SDNY Judge Naomi Reice Buchwald has dismissed all claims by investors against JPMorgan related to a $17 million Ponzi scheme. The investors accused the bank of helping the scheme or intentionally turning a blind eye to it, but the Judge disagreed – Law360

Fiat Chrysler has recalled nearly 863,000 vehicles after some did not meet federal emissions standards. Among the affected models are the Dodge Journey, Avenger, and Caliber and Jeep Compass – WSJ

Soaking up this photo essay of Russia’s half-century-old launch pad in Baikonur, Kazakhstan—the decidedly retro but still active site of the Soyuz program that currently serves as America’s space taxi to the ISS – NYTimes

MDR

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