Financial Daily Dose 1.9.2020 | Top Story: “Highlights” from Carlos Ghosn’s Accusatory Press Conference

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A recap of Carlos Ghosn’s big media moment on Wednesday, which was short on the escape details everyone wanted to hear and long on accusations against other execs at Nissan and Japan’s justice system – NYTimes and WSJ and Bloomberg and MarketWatch

The Journal’s reporting that food-delivery company Grubhub, which went public nearly 6 years ago, is “considering strategic options including a possible sale amid increased competition and a recent decline in its sales” – WSJ and Bloomberg

Gangbusters-popular video app TikTok had, until quite recently, “serious vulnerabilities that would have allowed hackers to manipulate user data and reveal personal information”—such were the findings of Check Point, an Israel-based cybersecurity company that published research into the app yesterday. TikTok, which learned of Check Point’s conclusions in late November, “said it had fixed all of the vulnerabilities by Dec. 15” – NYTimes and Law360

New data from the Fed shows that US consumer borrowing cooled some in November (at least compared to forecasts) just a month after October saw the biggest gain in three months – Bloomberg

Barclays has asked a Louisiana state court judge to dismiss it from a suit accusing major banks of rigging the price of Fannie & Freddie issued bonds, “arguing the state attorney general can’t tie it to the U.S. or the case’s specific allegations” – Law360

A new SEC proposal seeks to “loosen the control that big U.S. exchanges [read the NYSE and Nasdaq] exert over the flow of real-time stock prices to the public in an effort to lower costs for investors.” The changes would take dead aim at the current two-tier system that allows the big exchanges “to charge their largest customers higher fees for faster proprietary feeds, leaving smaller players to rely on a slower public stream” – WSJ

Fed officials are in the midst of hashing out competing visions for the central bank’s contributions to a rewrite of the 1977 Community Reinvestment Act, the “rules that govern lending to poor communities.” The OCC and FDIC offered their take on a revamped CRA in December, but the Fed, “concerned about the changes and the rushed process, declined to sign on.” Fed governor Lael Brainard has introduced an alternative just this week – NYTimes and WSJ

The great bow tie debate, 2020 edition: distinguished or “too precious” – WSJ

MDR

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