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Milwaukee-based Harley-Davidson announced on Monday that it will shift some of its motorcycle production overseas “to avoid retaliatory tariffs imposed by the European Union” in response to the White House’s trade moves – NYTimes and WSJ and Bloomberg and Law360

Markets were back in the [serious] red on yesterday after late-week and weekend trade machinations from the US, China, and the EU caught up with investors – NYTimes and WSJ and MarketWatch

And while we’re talking China, President Xi told a gathering of business leaders at a Global CEO Council meeting in Beijing last week that China will be “punch[ing] back” against the latest round of US trade measures – WSJ

Seems like a good time for Streetwise to weigh in on this whole mess – WSJ

GE has announced that it will spin off its health-care business and divest in oilfield-services giant Baker Hughes as new CEO John Flannery continues to pare back GE’s focus and ambitions – WSJ and Bloomberg and NYTimes

The UK Serious Fraud Office’s Euribor-rigging case against 5 former Barclays and Deutsche Bank employees in in the jury’s hands. The defendants are charged with conspiring to defraud by “agreeing to submit ‘false or misleading’ rates into the process of setting the Euro interbank offered rate” – Law360

Plenty more from the Supreme Court as it heads into its summer hiatus.  Among the decisions out yesterday was the Court’s determination that American Express did not violated antitrust laws by “insisting in its contracts with merchants that they do nothing to encourage patrons to use other cards.” Of note was the Court’s focus on the “two-sided platforms” created by credit card networks – NYTimes and WSJ and Law360

A split Second Circuit panel has again upheld the insider-trading conviction of former SAC Capital Advisors partner Mathew Martoma, though it “dialed down criticism of a previous ruling requiring prosecutors to prove a close relationship between tipper and tippee” – Law360

Cryptos’ precipitous slide over the past few months aren’t keeping well-known VC firm Andreessen Horowitz away. The outfit just created its first dedicated crypto and blockchain fund, the $300 million A16z, to be managed by former federal prosecutor (and first female general partner) Katie Haun – NYTimes and Wired

The Supreme Court has denied cert on a pair of appeals by Nomura and RBS securities, a move that will keep in place the more-than $800 million damages awarded to the FHFA over the firms’ sale of toxic RMBS – Law360

A new estimate puts Facebook-owned Instagram’s solo valuation at somewhere in the $100 billion neighborhood. The site reached 1 billion monthly active users this month and expects to haul in mover $10 billion in revenue over the coming year – Bloomberg

The Smithsonian on why the T. Rex has become our dinosaur obsession (or, in its words, “our tyrant lizard king”) of choice –

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