Financial Daily Dose 9.4.2019 | Top Story: UK Parliament Rebels to Defy Prime Minister on Brexit

columns of courthouse or government building

Aaaand, we’re back at it.  Hope all enjoyed a good holiday weekend.

One can prorogate all one wants, but raise the ire of British MPs, and a price will be paid, my friends. So goes the story for PM Boris Johnson, against whom British lawmakers “rose up” on Monday to “prevent him from taking the country out of the European Union without a formal agreement” – NYTimes and Bloomberg and MarketWatch

Members of the Prime Minister’s own Tory party are central to the drama – NYTimes and Bloomberg

Even as the White House promised “crumbl[ing]” Chinese manufacturing in the wake of weekend tariffs on a range of Chinese-made consumer goods, new economic data shows the trade war “washing back to American shores” and damaging US manufacturing activity – NYTimes and Bloomberg and WSJ

Meanwhile, Chinese President Xi Jinping urged a gathering of the ruling Communist Party to “brace for a ‘long term’ struggle against a variety of threats”—a fairly generic statement, but one potent enough to drive markets down back here in the U.S. – Bloomberg

AT&T has named WarnerMedia chief John Stankey as “CEO heir apparent” and winner of the succession battle to current chief exec Randall Stephenson. Stankey will take over as president and COO next month while continuing to serve as head of the unit “that houses HBO, the Warner Bros. studio and cable channels like CNN” – WSJ

Royal Park Investments announced this week that it’s reached a tentative deal with HSBC Bank over allegations that the bank caused more than $1 billion “in alleged investor losses on three pre-crisis residential mortgage-backed securities trusts that the bank oversaw as trustee” – Law360

A spate of recent cancellations is causing heartburn for American Airlines and CEO Doug Parker, who just years ago had promised to “trounce” rival carriers after overseeing the merger of US Airways with American after the latter emerged from bankruptcy – Bloomberg

Just weeks after Cathay Pacific Airways’ CEO Rupert Hogg left, the airline’s board chair and executive director John Slosar announced that he’s heading out the door, too. The departures are generally viewed as a direct result of the chaos that’s embroiled Hong Kong in recent months – NYTimes and Bloomberg

Untroubled by a lack of public evidence, Chinese tech giant Huawei has accused the U.S. government of pressuring “the company’s employees to turn against it” and using cyberattacks to “infiltrate the firm’s computer systems in recent months.” The allegations “appeared as bullet points at the end of [a company] news release” – NYTimes and WSJ

Bank of America, JPMorgan, and other big banks have moved SDNY Judge George Daniels to dismiss allegations of Libor manipulation against them, arguing that plaintiffs’ suit is based on little more than speculation – Law360

Speaking of, here’s a look at the post-crisis rise to global dominance by US banks – WSJ

Checking in on a wild and raucous run at the U.S. Open (already), where a 23-year-old Russian has delighted in trolling a hostile NYC crowd by making it to the quarters – NYTimes


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