Financial Daily Dose 10.28.2019 | Top Story: The EU gives Britain flexible 3-month Brexit extension

Robins Kaplan LLP

Robins Kaplan LLP

The EU has granted the UK another extension for the Brexit process, giving Britain until January 31 to leave (unless its Parliament passes a divorce deal sooner) – Bloomberg and NYTimes and WSJ and MarketWatch

The luxury brand consolidation craze continues, as Louis Vuitton owner LVMH announced that it’s exploring adding Tiffany & Co. to its stable of big-name companies for a reported $14.5 billion – Bloomberg and NYTimes and WSJ

GM workers have approved their new deal with management, putting an end to a 6-week walkout by workers across the country – NYTimes

Wall Street’s having something of an identity crisis these days, balancing repeated runs at record highs with a deep-seeded fear of a repeat of last year’s brutal Q4 selloff that wiped out all of 2018’s gains and more – WSJ

The Fed and consumers are playing by their own Wall Street rules, too – Bloomberg

As Gates and Bezos jockey for title of the world’s richest man (Jeff’s still hanging on, despite a rough Q3 for Amazon), Microsoft’s celebrating a big win over its rival on a $10 billion Department of Defense contract focused mostly on cloud computing – NYTimes and MarketWatch and Law360

Here’s what we’re watching as the Fed gets ready to meet this week – MarketWatch

The Times helps us understand how Boeing helped include language in the FAA Reauthorization Act of 2018 that “undercut[] the government’s role in approving the design of new airplanes.” And while this kind of back-room dealing isn’t a surprise in D.C., the timing of this bill just weeks before the first 737 Max crash in Indonesia is raising eyebrows about this particular example of industry influence – NYTimes

Xi Jinping’s down with blockchain. Ergo, Chinese tech investors are too, to the tune of a 5.3% surge on the Shenzhen tech index and a jump in Bitcoin, too – Bloomberg and WSJ

Infamous 80s junk bond king Michael Milken + 2017 Tax Bill-created opportunity zones = nothing to see here, right? – NYTimes

New York state court justice Barry Ostrager “stunned” the AG’s office on Friday by threatening to end the state’s case “if it failed to streamline its presentation.” NY had ended the trial day early on two consecutive days after Exxon failed to cross witnesses for as long as the state anticipated, prompting the Justice to note “if you don’t have a witness, you rest” – Law360

Masa Son’s SoftBank backers and credit-rating firms are starting to ask some harder questions about the firm after the conglomerate’s massive $10 billion WeWork bailout last week, a move that brings with it fears of “rising risks and weak controls” – WSJ and MarketWatch

H&M’s CEO is calling fast-fashion social shaming an existential threat to his company and its ilk – Bloomberg

Popeye’s is bringing back its spicy chicken sandwich. And it’ll be ready this time – WSJ

Let’s get listy, shall we? Here are 49 from the Journal to help you kick off your week – WSJ

Written by:

Robins Kaplan LLP

Robins Kaplan LLP on:

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