Your daily dose of financial news - The Brief – 7.8.16

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June’s job report  is out today.  The Journal gave us a jump start with 5 Things to Watch [and some thoughts on why May’s rough numbers may not be an outlier]  – WSJ

And how the Brexit has made the report way more important – Bloomberg

The Dealbook looks at the week’s trend of UK property-based mutual funds barring investors from withdrawing their money and asks what it means for the wider British and global economy.  At minimum, we’re talking a serious case of the jitters – NYTimes

The Fed has pushed out application of the Volcker Rule (that would force banks to divest “legacy” investment funds barred by Dodd-Frank) to July 2017, a move signaled 3 years ago when the Fed was allowed to grant up to 3 year-long grace periods – Law360

The latest trouble for Theranos is right at the top. Today US regulators banned the blood-testing company’s founder and CEO Elizabeth Holmes from operating a medical laboratory for at least 2 years after a devastating review of Theranos’ lab procedures and results – NYTimes and WSJ

Hard to get worked up over changes to the bankruptcy code, but legislation aiming to do just that in Congress right now would also have the effect of having a major impact on “too big to fail” banks by making the bankruptcy of big banks more feasible – WSJ

It’s been a busy week for Libor news that saw arguments over antitrust standing, dropped US charges in the wake of UK acquittals, and multi-year sentencing for several ex-Barclays employees convicted of rate rigging – Law360

Breakingviews isn’t so hot on a new Treasury Department proposal intended to tamp down on tax-inversion deals by US companies, suggesting that the rules could hurt legitimate cash-management activities and funding practices – NYTimes

The results are in from Uber’s first leveraged loan, and it’s raked in another $1.15 billion for the ride-hailing company (who’s paying a 5% yield) – WSJ and Bloomberg

Everything about this Wired feature on cricket farming for human consumption creeped me out.  Everything.  So why not share that discomfort as we head into the weekend – Wired

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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