Financial Daily Dose 5.15.2019 | Top Story: Disney to Assume Full Control of Hulu

Robins Kaplan LLP

Robins Kaplan LLP

Disney will take total control of the TV and movie streaming service Hulu after forking over at least $5.8 billion to buy out last remaining partner, Comcast. That price won’t be determined for a while, though, as the sale won’t be finalized for “at least five years,” according to the parties – NYTimes and WSJ

The NLRB delivered a major win to Uber yesterday, finding that the company’s drivers “are contractors, not employees”—a major “blow to drivers’ efforts to band together to demand higher pay and better working conditions from Uber” and its rival Lyft – NYTimes and Law360

Why the latest round of tariff volleys between China and the US has some worrying about the end to “Chimerica”—the “tight economic bonds that have formed between the world’s two largest economies” – NYTimes

And why, in the face of all that, stocks made their way back to the black on Tuesday – NYTimes and WSJ and Bloomberg

Even as the global economy may have a harder time being so resilient – NYTimes

New 737 Max reporting is making a troubled FAA look even worse, with an internal agency review tentatively determining that “senior agency officials didn’t participate in or monitor crucial safety assessments of a flight-control system” for that Boeing model – WSJ and NYTimes

Google’s straying out of its lane, and for Amazon, that means another tech behemoth looking for disruption. The turf of the moment? Web commerce, Amazon’s baby. And Google’s move comes, not coincidentally, as Amazon has started challenging Google’s longtime sweet spot, digital advertising – NYTimes

Streetwise weighs in on Uber’s disastrous IPO, suggesting that the its bad rollout “will put a damper on other stocks waiting to come to market,” though also recognizing that the current IPO arena wasn’t all that it was cracked up to be, anyway – WSJ

Kansas City Fed chief Esther George is officially on the record with a warning that any discussions of cutting rates in order to jumpstart inflation (and help move it toward the Fed’s 2% target) should be a nonstarter. George fears that doing so could “fuel asset price bubbles, create financial imbalances, and ultimately a recession” – Bloomberg

Danish officials have opened an investigation on a former Danske Bank senior executive “in connection with the money laundering case against the bank”—one of 10 individuals wrapped up personally in a criminal probe over the $225 billion that ran through the bank’s Estonian branch – Law360

SoftBank’s serious capital churn hasn’t troubled lenders enough to keep them from pouring more cash into Masa Son’s coffers – WSJ

Between the boomers and the millennials (literally), Gen X rarely gets the pop-culture airtime it deserves. Well, the Times is changing that this weekend, and here’s a sneak peek at their Style section focus on the “Gen X Mess” – NYTimes

We’re out on assignment for the rest of the week.  See you back here on Monday.

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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