In major media news yesterday, Gannett has bypassed Tribune Publishing’s leadership and gone directly to its shareholders with a $815 million takeover offer. If accepted, the move would add the LA Times and Chicago Tribune to the USA Today parent company’s holdings – NYTimes and WSJ and Bloomberg

The Fed, FDIC, and OCC are expected to drop details today of a new regulation aimed at big banks that would require a year’s worth of liquidity on hand to avoid a repeat of 2008. The mechanism for doing so is the net stable funding ratio (NSFR), which would force big banks “to show that they have sufficient ‘stable funding’ to help them endure a year of extreme duress” – WSJ

Meanwhile, on the “after” side of M&A, Federal regulators have moved to approve Charter Communications’ $65.5 billion acquisition of Time Warner Cable—though the “yes” came with “many restrictions . . . meant to ensure competition in the nascent online video business and to spread Internet connectivity given that  broadband has been deemed a utility” – NYTimes and WSJ and Bloomberg and Law360

Both Group Fnac and Steinhoff Int’l have again upped their bids for French electronics and appliance retailer Darty, with the former, at least, claiming to have made its final offer – NYTimes

Bloomberg offers a few thoughts on the forthcoming Federal Open Market Committee meeting, where the FOMC will try to keep a June rate hike in play even while the markets have already ruled it out – Bloomberg

Streetwise’s James Mackintosh on the year’s volatility in commodities and the tendency of investors to track their compatriots rather than market fundamentals, which makes market guessing that much harder – WSJ

Valeant’s named drug-company veteran exec Joseph Papa (current head of Perrigo) as J. Michael Pearson’s replacement in a move seen as a “solid pick” based on Papa’s experience in the industry, if not for his work as a turnaround artist – NYTimes

We have more insight—thanks to a lighter redaction hand this time around—on what exactly is ailing Theranos these days, at least as far as US health regulators are concerned – WSJ

The Supreme Court has swatted down another challenge to the SEC’s in-house court system – Law360

It’s been a little while since our last Big Billy Gross update.  Luckily, not much has changed. BBG’s still smarting from his unceremonious departure from Pimco, and he views beating them with his Janus fund as the only way to feel better – NYTimes

So long plastic figurines and temporary tattoos . . . Cracker Jack’s going mobile – Marketplace

Oh yeah, and in case you missed it this weekend. If Jay-Z gives you lemons (and you’re Queen Bey), you make Lemonade.  Whoa – NYTimes