Your Daily Dose of Financial News


Not shockingly, the White House’s recent insistence on keeping tariffs in place on China (to ensure deal compliance) is proving to be a major stumbling block in negotiations on a grand trade deal between the US and China. We’ll be keeping an eye on that dynamic as China’s Vice Premier Lui heads to the White House today to meet with the President – WSJ and MarketWatch and Bloomberg

The Upshot has a pretty good sense of America’s economic headwinds, and with all of the data it ingests, has focused on demographic decline as one of the biggest economic challenges facing the country in coming years. In fact, the issue, which traditional thinking has associated only with Japan and Western Europe, is already hitting parts of the US hard – NYTimes

And in not entirely unrelated news on a narrower scale, the current tight labor market in the US has many in the farming and construction industries calling for more immigrants to fill out their workforces – NYTimes

As we expected, Japan has indeed re-arrested former Nissan chief Carlos Ghosn, roughly a week before Mr. Ghosn promised to go public with his side of the story – WSJ and Bloomberg

It’s been a few weeks, so why not some more Facebook data disaster news? Researchers from a cybersecurity firm announced yesterday that they have discovered “troves of user information” from the social media company “hiding in plain sight, inadvertently posted publicly on Inc.’s cloud computing servers” – Bloomberg and Law360

A group of former female associates has sued Cleveland-born global law firm Jones Day for alleged “gender and pregnancy discrimination,” based on “underpaying them, thwarting their advancement and pushing them out once they had children” – NYTimes and Law360

MarketWatch is already worrying about the fallout from a second-straight disastrous jobs report. Here’s why – MarketWatch [and Bloomberg]

FASB has rejected a proposal by regional banks “to soften the impact of a change that will force banks to book losses on soured loans much faster,” which means that the planned change, known as CECL, will kick in at the start of 2020 for all publicly traded U.S. banks – WSJ

In something of a reversal from past rulings, the SEC decided yesterday via a no-action letter to allow an unregistered ICO from air charter services company TurnKey Jet Inc. to proceed after agreeing with the company’s “assurances that consumers aren’t buying the tokens to profit, but rather to buy air charter services” – Law360 and WSJ

Billionaire activist investor Carl Icahn unloaded his nearly 2.7% stake in Lyft ahead of the company’s IPO last week, and while we don’t know much about his reason for doing so or the exact nature of the deal, the Journal was confident in declaring it “a successful one” for Icahn, who invested $150 million in Lyft at a $2.5 billion valuation point (keep in mind that the company was valued at $24 billion when it went public) – WSJ

iHeartMedia, the broadcast radio giant, revealed plans for a potential IPO as it emerges from bankruptcy. Thus, if true, it would come in the same year that the company received court approval of a restructuring plan that cut $10 billion in debt associated with its media division – NYTimes and WSJ

Because sometimes when it comes to parking, you’ve just gotta take a stand – Mashable


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