Your Daily Dose of Financial News

Robins Kaplan LLP

Yesterday, federal officials unveiled an ongoing EEOC investigation into whether Uber “discriminated against women in hiring and pay” that began last August. The news extends Uber’s streak of investigations and brutal PR well over 18 months – NYTimes and WSJ

FCC Chair Ajit Pai has generally been considered a friend to business during his tenure on the Commission. So word on Monday that Pai had “serious concerns” about Sinclair Broadcast Group’s planned acquisition of Tribune Media for $3.9 billion raised a few eyebrows – NYTimes and WSJ and Law360

It’s a two horse race no more; Goldman Sachs is expected to name president David Solomon (aka, DJ D Sol) as successor to current CEO Lloyd Blankfein as early as sometime this week.  Blankfein is likely to stay on in an interim role for some time – NYTimes

New Deutsche Bank CEO Christian Sewing has only been on the big chair for 3 months, but his tenure is already looking surprisingly solid upon news that DB will report more than double the profit for Q2 than analysts were expecting – NYTimes and WSJ

Netflix, on the other hand, missed its own subscriber expectations by more than a million, sending shares down 14% in after-hours trading – WSJ and Bloomberg and MarketWatch

Last week’s Executive Order eliminating the “competitive examination and selection procedures” for appointing ALJs has “heightened concerns that both the ALJ hiring process and decisions made by the judges will be unduly influenced by politics.” The EO came in response to the Supreme Court’s recent Lucia v. SEC decisions – Law360

Another bipartisan financial deregulation package is working its way through the House and could head to the Senate this week. The collection of bills “is largely aimed at making it easier for companies to raise money by lowering barriers to invest in startups and simplifying regulations for businesses to go public” – Bloomberg

BofA and JPMorgan have moved to dismiss Libor-rigging charges against certain subsidiaries and affiliates that they argue were unconnected to the alleged conspiracy – Law360

For the record, Mpls. Fed President Neel Kashkari thinks that now’s not the time to play fast and loose with an inverted yield curve. Other Fed presidents agree, and we’ll be paying particularly close attention to Chair Powell’s Senate Banking Committee testimony this morning – Bloomberg and WSJ

This primer on making the most of Prime Day 2018 presupposes an important detail: that the site actually worked. It didn’t – Bloomberg and WSJ

Blockbuster is dead.  Long live the Bend Blockbuster – 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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