Your Daily Dose of Financial News

Robins Kaplan LLP

Jobs Friday again. Here’s what to look for in the numbers – WSJ

An early look at the reaction from allies Canada, Mexico, and the EU to this week’s announcement from the White House that it was moving forward with steel and aluminum tariffs against these US trading partners – NYTimes and WSJ and Bloomberg and MarketWatch

In The Upshot’s view, the tariffs themselves are likely something the US economy can weather.  The us vs. the world on trade wars, on the other hand, is an entirely different matter – NYTimes and Bloomberg

They also threaten to wreak havoc on already delicate Nafta renegotiation talks – WSJ

Masayoshi Son and his SoftBank Fund have dropped $2.25 billion into GM’s driverless car venture known as GM Cruise Holdings – NYTimes and WSJ

The Federal Reserve has issued a “rare censure for a major financial institution” by deeming Deutsche Bank’s US business in “troubled condition”—a downgrade that occurred nearly a year ago in secret and represents “one of the lowest designations employed by the Fed” – WSJ and Bloomberg

The latest salvo in the CBS/Redstone war comes from a CBS investor, who on Thursday sued Redstone and her family’s National Amusements Inc. for allegedly “wrongly blocking a CBS share dividend that would have given more stockholders voting rights while diluting Redstone’s control” – Law360

Newly released information shows that US regulators opened a criminal probe into whether traders “manipulated prices in the $550 billion market for corporate bonds issued by Fannie Mae and Freddie Mac” during the Obama era that continues to this day, with a particular focus on coordination among traders across banks – Bloomberg

Samsonite CEO Ramesh Tainwala has resigned and stepped down from the company’s board a week after short seller Blue Orca Capital accused Tainwala had “misrepresented himself as having a doctorate” and questioned the company’s accounting practices and corporate governance – WSJ and Bloomberg and MarketWatch

The FDIC and OCC are on board with the Fed’s proposed Volcker Rule overhaul – Law360

Ahhh, playoff hockey. The Caps/Knights (seriously, who knew?) Cup looks like an instant classic after just two games.  Plus, it gives us a chance to go down the rabbit hole of Alexander Ovechkin, Vladimir Putin, and the web that is Russian hockey and politics – 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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