Financial Daily Dose 4.20.2021 | Top Story: Deadly Weekend Tesla Crash Prompts Federal Probe of Self-Driving Tech

Robins Kaplan LLP

Robins Kaplan LLP

A fiery, deadly Tesla crash outside of Houston over the weekend is prompting a federal probe of the company’s self-driving autonomous mode for “potential gaps in self-driving car technology.” Elon has already weighed in, of course, and claimed that the car’s autopilot mode was not engaged at the time of the crash – Law360 and WSJ and NYTimes and Bloomberg and MarketWatch

Canadian National Railway is taking a run at Kansas City Southern with a reported $30 billion offer meant to wrest the rail company away from rival Canadian Pacific. CanPac made (and KC Southern accepted) a $25 billion bid last month, but that extra $5B is awfully hard to pass up - Bloomberg and WSJ and MarketWatch

What angle, you may ask, did we find to work mention of the Super League into the Daily Dose? Why, JPMorgan, of course, which is now facing the unwelcome ire of a legion of European football fans for its role in bankrolling the proposed breakaway league - NYTimes and Bloomberg and WSJ and MarketWatch

We’ve tracked Argentina’s debt crisis and negotiations with creditors and the IMF here in recent years, including the Fund’s $57 billion bailout of the country in 2018. As the Times documents, the pandemic has managed to make a nearly impossible situation even worse, especially for Argentina’s population, which is facing troubling inflation that’s keeping an economic recovery from gaining needed momentum - NYTimes

Speaking at the Boao Forum on Asia, Chinese President Xi Jinping “called for greater global economic integration and warned against decoupling.” He also worked in a shot at the U.S. for “bossing others around” - Bloomberg and NYTimes

Next up in the IPO circus is the Oprah-backed Oatly, the Swedish vegan food and drink maker and oat-milk pioneer that’s hoping for a $100M offering - Bloomberg and WSJ

Netflix has kicked off what may be the next chapter of its quest for Hollywood disruption with its almost-$500M deal for two sequels of Rian Johnson’s “Knives Out” flick, positioning itself as a franchise-maker that’s prizing relationships with creative stars as much as existing blockbusters - NYTimes

A group of Credit Suisse investors is suing the bank in NY federal court over allegedly “misleading the public about its oversight of ‘high-risk clients’ Greensill Capital and Archegos Capital Management, whose recent implosions have cost the bank billions of dollars” – Law360

Recent and formerly rare forays by the Federal Reserve into the issues of climate change and racial economic inequality are ruffling some feathers. But the notoriously politically independent body has a pretty strong case to make that it simply can’t ignore issues that threaten, if left unaddressed, to “hold the economy back” - NYTimes

Union officials that pressed to organize workers at an Amazon warehouse in Bessemer, AL have filed a challenge over the recent vote, “saying the company violated legal restrictions throughout the election” - WSJ

From streaming entertainment to journalism to high-end dog food—digital subscription services have soared in recent years. But for all that focus on the new, “old, unfashionable advertising” has exploded “on virtually every platform,” but especially in digital media - NYTimes

Coke’s feeling the economic rebound love, as the solid vaccine rollout is helping open the “stadiums, cinemas and other venues” whose closure had taken a bite out of the company’s bottom line over the past year - WSJ

We pause to remember and appreciate a good and decent public servant. Walter Mondale was a legend in these parts, and rightfully so - StarTribune and NYTimes

Stay safe.

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Robins Kaplan LLP

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