Activist investor Nelson Peltz is officially taking on his biggest target yet—consumer-products giant Procter & Gamble. The announcement begins the public stage of a fight we’ve been waiting for since Peltz’s Trian Fund Mgmt disclosed its $3.5 billion stake in P&G in February – WSJ and NYTimes

A common streak among big banks’ 2nd quarter results (which were almost universally strong) was a decline in both fixed income and equity trading – NYTimes

No surprise here—the other shoe is officially dropping in the subprime auto lending market, and recently released information from Banco Santander shows the perils of lax underwriting practices – Bloomberg

Tranquility continues to be the name of the game for markets, with the VIX hitting a 24-year low at the end of last week – WSJ

With Kalanicks and Shkrelis kicking across the headlines these days, the Times considers the best way to deal with execs who have a penchant for acting like “spoiled brats” – NYTimes

Not a good weekend for Bitcoin. Not at all – WSJ

The SEC has upheld the dismissal of insider-trading charges against a former Wells Fargo trader—a rare loss for the agency’s enforcement division in a fast-tracked proceeding that some defendants [we’ve tracked a lot of them over the past 2 years] have called unfair – NYTimes and Law360

Bloomberg chronicles the rise and fall of telecommuting – Bloomberg

Chinese president Xi Jinping has unveiled a new group, the State Council Financial Stability and Development Committee, to help tighten financial controls and ensure that the country’s financial regulators better coordinate their efforts – WSJ

Big news from the land of the Tardis—after 36 seasons and 12 leads, Dr. Who will finally be regenerated into a female – NYTimes