Your Daily Dose of Financial News

Robins Kaplan LLP

In this week’s Common Sense entry, James Stewart lets us in on how an entity that loses so much money (Snap) could be worth so much [it gained 44 percent on its offering price in the first day of trading]. The answer is being okay with some “very lofty assumptions” and banking seriously on growth – NYTimes

Federal agents raided 3 Caterpillar buildings near its Peoria, IL headquarters today in what’s being called an “escalation of an inquiry” into CAT’s offshore tax practices – NYTimes and WSJ and Bloomberg and Law360

The running post-crisis fine total for the world’s biggest banks now tops $321 billion – Bloomberg

Amazon Web Services went down this week and took an impressive chunk of the internet with it. The culprit, as it turns out? Human error, in the form of a typo – WSJ and Bloomberg

Pimco’s Income Fund has more than emerged from the long shadow of former Bond King Bill Gross, and it has Dan Ivascyn to thank – Bloomberg

Moody’s has convinced a NY Federal Judge to dismiss a False Claims Act suit by a former managing director over the company’s ratings during the lead-up to the financial crisis – Law360

The bitcoin roller coaster is back at the top of the hill, with prices surging yesterday to a new all-time high and, for a day, at least, eclipsing the price of gold – WSJ

Bloomberg suggests that the reports of Dodd-Frank’s imminent demise may have been a bit exaggerated – Bloomberg

He may not be with the Vikes that much longer, but just your average man on the street?  Hardly – StarTribune

Have a good weekend.

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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