Your Daily Dose of Financial News

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Tuesday was yet another banner day on Wall Street, with the S&P 500 and Nasdaq closing at new highs.  Most market watchers think we have the Fed’s recent pivot on interest rates to thank for the continuing bull market (especially given the ongoing global uncertainty) – NYTimes and WSJ and Bloomberg and MarketWatch

Occidental Petroleum is hoping to swoop in with a significantly richer offer and steal Anadarko away from Chevron. Occidental’s package would value Anadarko at $57 billion compared to Chevron’s $33 billion deal – WSJ and Bloomberg and MarketWatch

As the Times intimated yesterday, Herman Cain’s withdrawal from consideration for the Fed Board has helped focus attention on the White House’s other pick for the Board, Stephen Moore—and that attention has of late centered on his paper and video trail – NYTimes and MarketWatch

A series of operational tweaks and increased efforts “to promote healthy discourse” has proven a winning combination for Twitter, which reported “record daily users and rising profit” in its Q1 results – WSJ and Bloomberg and MarketWatch

CBS halted its CEO search, reporting that acting chief Joseph Ianniello will stay on through the remainder of 2019. The announcement has helped fuel speculation that CBS is considering again joining forces with Viacom – Bloomberg and MarketWatch and NYTimes

Government attorneys dropped their spoofing case against software exec Jitesh Thakkar nearly two weeks after a jury deadlocked on aiding and abetting charges against him and the judge declared a mistrial – Law360

The Fed took steps this week to “make it easier for private-equity funds and other investors to own large stakes in banks without triggering its oversight”—a plan that could also help fintech firms get easier investment dollars in the door. The Fed’s new plan focuses on how the central bank assesses investor control of a bank – WSJ

And speaking of fintech, SoFi is reportedly in the “final stages” of a $500 million funding round deal with the Qatar Investment Authority and others that would value the company around the $4.3 billion level it hit during its 2017 funding round – Bloomberg

On Tuesday, SCOTUS “punted” on Emulex’s challenge to a 9th Circuit ruling that “investors must show the company was merely being negligent rather than intentionally engaging in wrongdoing when it allegedly misled shareholders about a merger offer,” calling its writ of cert on the matter “improvidently granted” – Law360

The Times’ celebrity profile guru, Taffy Brodesser-Akner, trains her considerable investigatory powers on uncovering a nasty and long-standing culture of sex discrimination, harassment, and worse at the Sterling Jewelers Inc. empire—home of brands like Kay, Jared, Osterman, and Zales – NYTimes

The ECB is out with a new report on the impact of US tariffs. And while there have been psychological costs, the “actual damage to European exports has been surprisingly mild” – NYTimes

Count me all in for the final season of GOT.  But know that if you’re not keeping up with GOJ, you’re missing the full experience – LateNight

MDR

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