Your Daily Dose of Financial News

by Robins Kaplan LLP
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Jobs Report Friday! Here’s what to keep in mind as you look at the numbers – WSJ

The White House has made it official and nominated Fed governor Jerome Powell as the next Chair of the Federal Reserve. Powell is expected to continue the basic fiscal (though not necessarily regulatory) policies of the Yellen FedNYTimes and WSJ and Bloomberg and Law360

The Journal is reporting that T-Mobile and Sprint are, thanks to a new offer from T-Mobile, “working to salvage their potential blockbuster merger” despite SoftBank’s apparent call earlier this week to end talks – WSJ

The official unveiling of the House tax plan yesterday raised some big questions for the housing industry thanks to a proposed change in the mortgage interest deduction that would “echo loudly through higher-priced cities on the coasts” and could affect the entire housing market – NYTimes and Bloomberg

Dealbook’s Common Sense on a particularly damning detail about the travel practices of former GE chief Jeff Immelt (and the fitting metaphor it provided) – NYTimes

Streetwise is going all big picture on us by linking the 500-year anniversary of Martin Luther’s 95 theses to the financial future of China. Read on to see how Mr. Mackintosh pulls it all together [hint: it’s all about individualism] – WSJ

Aristeia Capital’s proxy war with Chinese internet giant Sina proved decidedly short lived – NYTimes

FinCEN has fined Texas lender Lone Star National Bank $2 million for its “willful” violation of AML laws, including a failure to “collect and analyze the kind of information it needed to assess the risks of money laundering by its customers” – Law360

For the first time in a decade, the Bank of England raised interest rates and, while doing so, also warned that “uncertainties associated with Brexit” would lead to some measure of economic discomfort for the island nation – NYTimes and WSJ and Bloomberg

The move, in the context of other central bankers’ actions in the past few months, has prompted Bloomberg Businessweek to declare the “Age of Easy Money Is Nearly Over” – Bloomberg

The Times is really going out on a limb here by positing that the NFL’s MVP could be a punter. [We’re not at grape salad-level limbs yet, but give it time]. Still, the argument for Rams punter Johnny Hekker is an interesting one – NYTimes

Have a great 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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