Financial Daily Dose 6.7.2019 | Top Story: Markets Keep Eye on US Jobs Report


Jobs Report Friday again! Lots to look for in the numbers this month, especially considering the economic uncertainty that’s defined the past few weeks – WSJ and Bloomberg and NYTimes

Wells Fargo will fork over $385 million to resolve force-placed insurance allegations from customers who have accused the bank of signing them up for auto insurance “without their knowledge or consent when they took out a car loan” – Bloomberg

The FCC took a sweeping step this week to end the growing wave of robocalls, voting to allow “phone carriers to start automatically blocking both illegal robocalls and robocalls that carriers simply don’t want.” The plan, introduced last month by FCC Chair Ajit Pai, marks a self-dubbed “dramatic expansion” of current FCC policy on robocalls and has drawn the ire of debt collectors, health care companies, credit unions, and others who rely on robocalls to contact customers and debtors – Law360 and HuffingtonPost and CNet

Elliott Management is closing in on a deal to buy Barnes & Noble and again take it private. While terms aren’t known, the bookseller at a market value of $311 million as of yesterday afternoon – WSJ and MarketWatch

This week’s abrupt end (for now) to a potential Renault/Fiat Chrysler merger has prompted more than a few to regard the entire auto industry as particularly fraught with peril at the moment. And from climate change, to Uber, to an escalating trade war—who can blame them? – NYTimes

The U.S. is considering delaying making good on White House threats of tariffs on Mexican goods based on concerns that negotiations between the two countries could extend well beyond the Monday deadline – Bloomberg

Thanks to a persistent effort by the U.S., Huawei has found itself on the outs with many countries that had looked to it for their 5G infrastructure. Not all countries, though, are on board. And Russia may be most prominent on that list – NYTimes

Antitrust issues be damned, according to Google, at least, who announced yesterday that it’s made a $2.6 billion offer to buy data analytics company Looker—part of Google’s “bid to catch up to rivals in the business of cloud computing” – NYTimes and MarketWatch

The tech giant is also reportedly working on securing space in a new office development in downtown Toronto that will add more than 400,000 square feet to the city’s financial district. It’s not known how much of that Google is eyeing – Bloomberg

JPMorgan’s millennial-targeting Finn effort—a “no-fee banking brand designed to meet the financial needs of younger consumers”—is no more, a year after the bank launched it nationally – WSJ

Opioid drug maker Insys announced this week that it will pay $225 million to resolve federal civil and criminal charges that it “illegally marketed a highly addictive fentanyl painkiller to doctors.” A federal jury in Boston last month found Insys founder John Kapoor guilty of “conspiring to fuel sales of the drug, Subsys, by bribing doctors and misleading insurance companies” – NYTimes and Law360

Really enjoyed this New Yorker mini-feature on Theodore Geisel—that’s Dr. Seuss to most of us—and a look at a new book about him that explores his rise as one of the pioneers in children’s literature – NewYorker

Have a great weekend,

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