Jobs Report Friday! Here are some things to watch as you peruse the numbers – WSJ and Bloomberg and NYTimes

In less sunny jobs news, GE Power is cutting 12,000 of them globally as it moves forward with Jon Flannery’s streamlining plans and reacts to a rapidly changing energy picture around the world – NYTimes and WSJ and Bloomberg

The UK and EU made a significant breakthrough early this morning to “unlock” Brexit divorce negotiations. The still-rough agreement would see Britain repaying $53 billion and addressed in at least vague terms thorny issues like the Irish border and the official transition period – Bloomberg and NYTimes

Breakingviews has considered the effect of the new tax plan on Citigroup, and it finds that the bank might be surprisingly receptive to the $20 billion write-down largely due to the deferred tax-asset recalculation – NYTimes

The Fed has proposed giving banks more insight into its stress test modeling techniques, arguing that the move would give banks and the public a better understanding of how the Fed judges bank performance – Law360

Some of that regulatory easing seems to have seeped into the “last chapter of the banking rule book they began writing after the financial crisis began in 2008” inked by global central bank governors and bank regulators this week. The agreement takes the form of Basel IV, which will require banks to “reduce their dependence on borrowed money so they are less susceptible to losses from bad loans, market turmoil or other problems” but leaves most big banks “relatively unscathed” – NYTimes and Bloomberg and Law360

Caterpillar Inc. unit United Industries LLC—a railcar repair company—has admitted to cheating companies by “performing unnecessary repairs” and dumping parts into the ocean to hide the evidence. The unit has agreed to pay $25 million in criminal fines and restitution, but the biggest hit is likely to CAT’s reputation – WSJ

Investors suing BNY Mellon over its alleged failures as a RMBS trustee are vigorously opposing the bank’s move to split off claims for an individual trust in which BNY acted as a master servicer rather than trustee – Law360

Your obligatory bitcoin update: Mr. Nakamoto’s Wild Ride continues, and $16k is the latest milestone now in the rear view mirror – WSJ and MarketWatch

I mean, I think he was just getting going there . . . – LACity.org

Have a great weekend.