Your Daily Dose of Financial News

by Robins Kaplan LLP
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Uber’s board is sticking with the devil it knows.  And that means that CEO Travis Kalanick’s safe where he is, despite a few pretty awful months for the ride-hailing company and promises to change the company culture – NYTimes and WSJ and Bloomberg

Dutch paint and chemical company AkzoNobel has again said “No thanks” to a takeover bid from PPG despite a $2 billion sweetener this time around – NYTimes and WSJ

Lefty wasn’t up yesterday, but former Dean Foods chair Thomas C. Davis did some damage for the prosecution against Vegas sports gambler William T. Walters, to whom Davis admitted providing “an enormous amount of inside information.” Not the most helpful quote ever when defending oneself against insider-trading charges – NYTimes and Law360

The DOJ has subpoenaed Maersk, Hapag-Lloyd, and 18 other of the world’s top container-shipping companies as part of a probe on price-fixing. The investigation is intensifying a time when the shippers have grouped into three main alliances, “sharing port calls and vessels in an effort to save billions in annual operating costs” – WSJ

Commerzbank’s billion-dollar lawsuit against BNY Mellon for allegedly failing to properly vet RMBS it was overseeing is still alive after SDNY Judge George Daniels denied BNY’s motion to dismiss – Law360

MarketWatch gives us a sobering illustrated history of America’s march to a more-than $1 trillion student-loan-debt problem – MarketWatch

US banking regulators have informed Congress that they’re working on making life (in the form of capital rules) easier for small banks – WSJ

Our Daily Dose Book Club pick of the week: “The Spider Network,” WSJ-writer David Enrich’s look at Tom Hayes, his central role in the Libor-rigging scandal that helped define the financial-crisis era, and the unexpected sympathy he engendered in the author – NYTimes and Marketplace and Bloomberg

Though spending too much time on this How To Guide probably violates some of the tenets it espouses, do yourself (and your company) a favor and take a look – 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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