Financial Daily Dose 10.4.2019 | Top Story: Markets Watching US Jobs Report for Clues on More Fed Rate Action

Robins Kaplan LLP

Robins Kaplan LLP

Jobs report Friday again. Here’s what to look for in the numbers [and let’s temper those expectations, okay?] – Bloomberg and NYTimes and WSJ

Here’s why most expect that the figures, along with manufacturing and other economic data that rolled in this week, are probably troublesome enough to push the Fed to cut again at its upcoming October meeting – NYTimes

MGM Resorts will pay up to $800 million to resolve lawsuits from victims of “the October 2017 mass shooting in Las Vegas that left 58 people dead and hundreds of others injured.” Based on reports from various plaintiff’s attorneys, the settlement would resolve “substantially all” claims against MGM—some 4,500—related to the massacre – NYTimes and WSJ

A deeper dive into this week’s news that the WTO green-lighted new US tariffs on EU imports suggests that your weekend plans are likely to become noticeably more expensive – NYTimes and Barron’s

It’s Big Mouse vs. Big Jeff in a dispute over ad revenue, and the fallout could say a lot about whether your Amazon Fire device will feature Disney apps (including ABC, ESPN, and the Disney channel) – WSJ

HP is set to cut up to 9,000 jobs in the next three years as part of a major overhaul unveiled by incoming CEO Enrique Lores and CFO Steve Fieler – MarketWatch and NYTimes and WSJ

Volkswagen may add “sharing” to its list of post-emissions-cheating-scandal efforts to change the narrative – Bloomberg

A new Uber Technologies app looks to go beyond rides and match interested gig-workers with companies in need of temporary help, all while using “an algorithm to set the wages for jobs that employers list on its app, instead of the employers doing it” – WSJ

New York AG Letitia James is accusing Pennsylvania’s Higher Education Assistance Agency of “harmful servicing practices” that amounted to “’fail[ing] miserably’ in its handling of a federal loan forgiveness program” – Law360

Tokio Marine Holdings, which controls one of Japan’s top insurance companies, as agreed to buy Pure Group, a US insurance company “that caters to wealthy Americans,” in a $3.1 billion deal – WSJ

Europe’s highest court found yesterday that “an individual country can order Facebook to remove content across the globe that its national courts deem defamatory,” a ruling that the ‘book and others warned “could have a chilling effect on freedom of expression” – Law360

In true “Darwin’s grinning somewhere” news, scientists have managed to map out the mere three genetic mutations that took monarch butterflies from  susceptible to poison milkweed to thriving on it (and even storing the plant’s toxins to use for the insect’s own defenses) – NYTimes

Have a great weekend.

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Robins Kaplan LLP

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