Your daily dose of financial news - The Brief – 6.30.16

Robins Kaplan LLP

US banks made a strong showing in part 2 of the latest round of the Fed’s stress tests. Only Morgan Stanley didn’t pass unconditionally (concerns over the company’s “internal controls and processes” tripped it up), while the US subsidiaries of Deutsche Bank and Santander were at the bottom of the pack (both have failed in previous years, too) – NYTimes and WSJ and Bloomberg

Speaking of Deutsche Bank, the German finance giant has agreed to pay FINRA $6 million for reporting inaccurate trade data to the agency and the SEC for 7 years – Law360

With US stocks bouncing back, we’ve dropped our Brexit coverage to just ONE, incredibly enough.  But it’s a good one, with Streetwise giving investors some good advice about not messing with the UK’s FTSE 100, despite a good Wednesday showing – WSJ

Film studio Lionsgate is reportedly nearing a deal to snap up premium cable outlet Starz in a merger that would create an entertainment company with a combined market value of nearly $6 billion – NYTimes and Bloomberg

GE’s roughly year-long process of shedding assets (including its recent US restaurant holdings) finally paid off, as regulators agreed to strip it of its “systemically important financial institution” (SIFI) label (and the extra regulatory requirements that came with it) – NYTimes and WSJ and Law360

Google Capital’s making a bold new move into publicly traded companies with a $46 million investment in, a company that helps connect families and caregivers. The move makes the Alphabet investment arm’s biggest shareholder – NYTimes and Bloomberg

Winklevii? Bitcoin? BATS? ETF? Can’t pass up that combo – WSJ

There’s an IPO coming soon . . . Honest – Bloomberg

Some just lovely reflections on the passing of Times street style-documenting fixture Bill Cunningham—a man whose joy for his job and for fashion was on fantastic display in the 2010 documentary Bill Cunningham New York.  Do yourself a favor and give it a watch – NYTimes

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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