The author who literally wrote the book on the Enron is warning that the next financial crisis is lurking underground—aka, fracking has “turned the energy world upside down,” and it’s pulled in a bunch of Wall Street along the way – NYTimes
On Friday, Minneapolis police arrested Richard Liu, the billionaire founder of JD.com—one of “China’s largest and most successful online retailers”—for “alleged sexual misconduct.” Liu was released a day later, and in a statement on Weibo, JD.com said he was falsely accused – NYTimes and WSJ and Bloomberg
Shhhh. Lego’s changing everything (but not telling anyone) in order to drop its dependence on petroleum-based plastics – NYTimes
When it comes to the future of Tesla and SpaceX (and all of Elon’s other ventures), the Journal casts the true battle as Musk vs. Musk – WSJ [and MarketWatch agrees]
Boston’s Bain & Co. is admitting that it did “shoddy” work (despite charging $11 million to “advise South Africa’s tax agency on an ambitious restructuring plan”) and that it “might have been a pawn in local political wrangling,” too. All in all, not a good look for the famed consulting company – NYTimes
MarketWatch has put out an official warning: September could be awfully bearish, as a wild mix of financial and political factors threaten to make it a very stressful month – MarketWatch
France’s Societe Generale SA bank is forecasting paying in the neighborhood of $1.3 billion to resolve an outstanding dispute with US regulators over Libor-fixing and sanctions-busting allegations – WSJ
A bit of Tuesday morning quarterbacking for Coke’s deal for the UK’s Costa Coffee chain – WSJ
Visa got a big win in federal court in Texas on Friday, with Judge Lynn Hughes granting the credit-card giant summary judgment after finding that plaintiff Pulse Network lacked standing to bring its antitrust suit because “other competitors have since adopted credit card transfer strategies similar to the ones Pulse is challenging,” meaning that Pulse could not demonstrate injury – Law360
Bloomberg Opinion (highlighting an OECD paper) gives us this interesting take on how China’s one-child policy has set the stage for major demographic challenges in China, which are set to hit just as the Chinese economy overtakes the US economy in size – Bloomberg
The Federal Reserve and FDIC have agreed to give foreign banks Barclays, Credit Suisse, UBS, and Deutsche Bank as well as nonbank Prudential Financial an extra year in which to submit their “living wills”—the wind-down plans in the event of financial distress – Law360
One might wonder why tech companies are pushing for a federal online privacy law. That is, until one remembers that such a law could preempt California’s new privacy law, which threatens to wreak GDPR-like havoc when it goes into effect in 2020 – Marketplace
A group of investors who have sued Snap Inc. for allegedly misrepresenting user growth and engagement in IPO-related documents has moved to certify a class, arguing that it’s far more efficient based on the number of impacted investors – Law360
Consider it a deconstructionist approach to lifestyles of the rich and famous—the Journal looks at a new crop of highly successful homeowners who, craving “normalcy and privacy,” are hiding “luxury living in plain sight” – WSJ
