Financial Daily Dose 3.9.2021 | Top Story: Troubled Greensill Capital Files for UK Bankruptcy Protection

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Recently troubled SoftBank-backed financing firm Greensill Capital has filed for bankruptcy protection in Britain, just weeks after its insurer “refused . . . to renew its coverage for the company’s loans” - NYTimes and WSJ and Law360

After a torrid 2020, tech shares are bearing the early brunt of what appears to be a slowly growing light at the end of the Covid tunnel. Take the markets on Monday as a case in point - NYTimes and WSJ

Now let’s see if they correct the correction - Bloomberg and WSJ

PE giant Apollo Global Mgmt will “reabsorb” Athene Holding Ltd., the insurance company it spun off with a 2016 IPO that left Apollo with a 35% stake, in a “move to consolidate the investment giant’s ownership of its highly successful insurance affiliate” that also represents an effort by Apollo to “improve its governance in the wake of the revelations of ties between co-founder and Chief Executive Leon Black and disgraced financier Jeffrey Epstein” - WSJ

Meanwhile, fintech startup SoFi has acquired community lender Golden Pacific for $22 million in an effort to “accelerate its push into the banking business” - WSJ

Interesting look by the Bloomberg folks at the different lessons learned by China and the U.S. following 2008’s Great Recession that are driving divergent approaches to the Covid economic crisis in the two superpowers - Bloomberg

The pandemic has pushed the fast-food industry to innovate at breakneck speed, and don’t expect a return to normal when the vaccines kick in. We’re talking better apps, multiple drive-thru lanes, and even the introduction of order-predicting AI. Welcome to the future, kids - NYTimes

Twitter is suing Texas AG Ken Paxton “to shut down an investigation of its moderation practices that he started after the social media giant banned” the former President. Twitter described the probe as an “attempt to ‘intimidate, harass and target’ the company in retaliation for its exercise of the First Amendment right to free speech” - Bloomberg

The numbers are in for the big Royals/Oprah sit-down. And despite a masterclass in interviewing from O, the real takeaway is that the “old-style prime-time television moment” of yore is definitely not what it used to be - NYTimes and WSJ and Bloomberg

As we bid farewell to a strange and yet at-times reassuringly normal hockey seasons here in Minnesota, enjoy this recap by DIY Pete of Year 3 of his jealousy-inducing massive backyard rink in Bozeman’s foothills of the Rockies - DIYPete

Stay safe.

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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