Your Daily Dose of Financial News

Robins Kaplan LLP

We’re glad the steak dinner went well, but we’re also still anxiously awaiting actual details about what exactly is covered by the pause in the US/China trade war – NYTimes and Bloomberg

The markets were less concerned about the finer points, it would seem – NYTimes and WSJ and Bloomberg

DC Federal District Court Judge Richard Leon has thrown something of a wrench in the DOJ’s approval of CVS Health’s $70 billion acquisition of Aetna, revealing in a Monday hearing that he may require the merged firm to “hold Aetna’s assets separately while he considers the settlement between the companies and the government” – WSJ and Law360

A closer look at Fed Chair Powell’s comments last week on planned rate hikes and the meaning of “neutral” reveals a distinct lack of commentary about a changed economic outlook from the Federal Reserve.  So.  We’ll be watching his upcoming congressional testimony this week all the more carefully – WSJ

NY’s AG Office has opened a probe into “potential abuses by finance firms that offer quick money to small businesses nationwide”—a side effect of a recent Bloomberg series on the punishing use of confessions of judgment by many of these lenders and the brutal results that follow for the borrowers – Bloomberg

The Supreme Court took up the “distinctions between conduct and statements during oral arguments Monday” in a case in which the SEC has accused an investment banker of violating Rule 10b-5(a) and (c). The case is Lorenzo v. SEC, and it’s at the High Court on appeal from a D.C. Circuit opinion in which then-Judge Kavanagh dissented – Law360

E&Y chair Mark Weinberger has announced that he’ll be stepping down, effective July 1, 2019. The accounting giant will name his successor in January – WSJ

Marriott International is facing “at least a dozen putative class actions” in the US and Canada following its announcement last week that hackers had stolen the information of about 500 million of its Starwood guests – Law360

Meanwhile, Q&A website Quora announced late last night that it was the victim of a data breach affecting 100 million users – WSJ and NYTimes

After a rough roll-out, it now looks as if controversial new CFPB director Kathy Kraninger is on her way to confirmation. The details – Marketplace

Altria’s recent diversification buying spree may not be over, with news that the tobacco giant is in talks to acquire Canadian cannabis producer Cronos Group, the country’s fourth-largest marijuana company by market valuation – Bloomberg and MarketWatch

What happens when “I yam what I yam” means something altogether new?  It looks like we’re soon going to find out, thanks to YouTube and a new series of comic strips that will hit papers (and digital media, presumably) in 2019 – 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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