Your Daily Dose of Financial News

Robins Kaplan LLP

GM’s Monday announcement about cutting 14,000 North American jobs drew the ire of the White House yesterday, which threatened to “end federal tax credits” that have helped subsidize the company’s electric-vehicle fleet – NYTimes and WSJ and Bloomberg

Another day, another Amazon Empire-expansion story. This time, the focus is Bezos & Co.’s sale of software that will “mine patient medical records for information that doctors and hospitals could use to improve treatment and cut costs” – WSJ

The Times has devoted serious ink over the past week to China, and this piece on China’s Economy (defying the West in order to chart its own path to economic powerhouse status) is worth a gander – NYTimes

Conde Nast CEO Robert Sauerberg is stepping down, just months after announcing a “sweeping plan to address the struggles” at the glossy magazine publisher, which lost more than $120 million in 2017 – NYTimes and WSJ

A California federal judge has thrown a wrench in the SEC’s plans to serve as the go-to regulator of cryptocurrencies and ICOs. In a Tuesday ruling denying the SEC’s bid for a preliminary injunction against a crypto company, Judge Gonzalo Curiel found that the agency “has failed to definitively show the tokens are securities” – Law360

British and Dutch privacy officials have hit Uber with $1.2 million in fines over its 2016 breach that exposed millions of customer records – Law360

Zuck’s empty chair didn’t make it any less of a hot seat for Facebook at an international committee hearing in the UK yesterday—just one of his European headaches – WSJ and Mashable and Law360 and NYTimes

A Bloomberg Businessweek series takes a look at the “debt-collection machine that’s chewing up small businesses across America,” thanks to an “arcane legal document called a confession of judgment” – Bloomberg

Hedge fund Ascend Capital is joining what’s turning into a decent-sized club of fund who are returning investor money and shutting down operations.  In this case, Ascend plans to turn itself into a family office  – WSJ

Goodbye ESL, hello Cyrus Capital Partners. The hedge fund emerged the “winner” after a “bidding war in a courthouse hallway” and will provide Sears with a loan that will keep its stores open during bankruptcy proceedings – Bloomberg

New NFL rules have meant healthier quarterbacks, better ratings, and, for you hotdogs at heart, some inspired touchdown celebrations.  Here’s a collection of the season’s best so far – 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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