Your Daily Dose of Financial News

Robins Kaplan LLP

News emerged in past weeks that North Korean hackers were likely behind the theft of $81 million from the central bank of Bangladesh. You can add to that an attack on more than 20 Polish banks and an attempt at other financial institutions—the World Bank, ECB, and American companies like Bank of America—and it’s clear that we’ve got a “troubling new front in cyberwarfare” – NYTimes

State Street Corp.’s unveiling a new set of analytical tools for asset managers, pensions, and endowments aimed at helping them screen investments more easily for environmental, social, and governance risks – WSJ

Bloomberg on the rise of leveraged ETFs, which double or triple investor exposure to the index in question.  Potentially great, right? Yes, but only when you’re winning.  Read on and do that math on these—it gets far more interesting as you dive in – Bloomberg

Amazon’s already done what it can to blow up bricks-and-mortar stores from its perch as online behemoth.  But why stop there? The physical location creep has already started – NYTimes

American Airlines is nearing a deal to take a stake of up to $200 million in China Southern, the largest airline in Asia – Bloomberg and NYTimes

SDNY Judge Lorna Schofield last week kicked a class action suit by foreign currency buyers against the world’s largest banks (including JPMorgan and Barclays, among others) for alleged price-fixing activity, finding that the plaintiffs failed to show how they had suffered any antitrust injury – Law360

OPEC to its members: seriously, now, when we say cut production we really mean it – WSJ

Tesla’s set to start taking orders on its solar roof product as early as next month – Bloomberg

Our financial industries word of the week: tontine, the old-school annuity vehicle that’s all about outliving your fellow investors – NYTimes

Just when you think the French couldn’t get any more, well, French, there’s astronaut Thomas Pesquet – 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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