Your Daily Dose of Financial News

Robins Kaplan LLP

European antitrust authorities have delivered a stinging rebuke to Google in the form of a $5.1 billion penalty over its Android operating system practices. The sum displaces last year’s $2.7 billion fine, also against Google, over its handling of search results – Bloomberg and NYTimes and WSJ

Still-new Texas Instruments CEO Brian Crutcher—after less than two months at the helm—is out over “violations of the company’s code of conduct.” Crutcher, previously TI’s COO, had been at the company for 22 years – NYTimes and WSJ and Bloomberg

Some thoughts on what changes to expect under DJ D Sol’s reign at Goldman. For starters, nothing all that much – NYTimes

Though perhaps not quite so close to the vest – WSJ

On Tuesday, NLRB administrative law judge Lauren Esposito rejected a proposed settlement between McDonald’s and the government’s top labor-law prosecutor “in a case that could threaten the viability of the franchise business model.”  At issue is the matter of McDonald’s alleged “joint employer” status relative to franchisee-hired workers – NYTimes and Law360

Meal-kit maker Chef’d has hit the skids after burning through “tens of millions of dollars in cash from venture capitalists and big food companies” without finding a recipe for financial success – WSJ

Equifax is hoping that federal judge Thomas Thrash will agree that banks and credit unions have no place in the sprawling MDL over last year’s massive data breach, arguing they “can’t show standing as no fraudulent charges were made on payment cards issued by the financial institutions” – Law360

I’d say it was the most prominent example of misspeaking this week, but there are other contenders.  Still, Coinbase’s admission that it had not actually received approval from the SEC and FINRA to buy Keystone Capital, Venovate, and Digital Wealth LLC (as part its plan to operate as a broker dealer) is not quite the shrug-it-off event as it would like us to think – Bloomberg

An update from Chair Powell’s testimony before the Senate Banking Committee, where White House trade policy and slow wage growth were among the more dominant themes – NYTimes and WSJ and Bloomberg

Powell also took the opportunity to defend the Fed’s handling of big bank stress tests – Law360

As off-putting as a blooper reel can be for a drama (trust me), there’s usually little better than one for your favorite comedy. Case in point, this collection (especially Parks & Rec, which is just inspired) – Mashable

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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