Your Daily Dose of Financial News

by Robins Kaplan LLP
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The Times gives us a breakdown of the machinations behind Dara Khosrowshahi’s selection as Uber’s next CEO – NYTimes

While the Journal considers the ever-growing list of headaches for Khosrowshahi, including a new federal bribery probe over potential Uber FCPA violations – WSJ [and Bloomberg]

Even as another wave of rain hits Houston and its surrounding region, insurers are taking stock of what’s an already-historic loss event – NYTimes and WSJ and Marketplace

Domino’s and Ford—a match made in [driverless] pizza delivery heaven – NYTimes

A group of homebuyers is seeking class status in their lawsuit accusing Bana, Countrywide, and appraisal firm LandSafe Inc. of conducting sham appraisals to “rip off loan applications” – Law360

Also in housing news, Wells Fargo is facing class-action charges in San Francisco alleging that it charged mortgage borrowers extra fees for delays in their applications [rate-lock extension fees]—even when the bank (and not the borrower) caused the delay – LATimes and Law360

Messaging startup Kik is going all in on an ICO. The Canadian-based company is looking for a cash infusion of more than $100 million, not from VCs but from regular folks interested in snapping up Kin—tokens that can be used to buy services on its platform – Bloomberg

[A move, by the way, that could be an early sign of the growth in the buzzed-about “token economy” – Blockchain-revolution.com]

An SEC in-house judge has dismissed fraud claims against former S&P ratings exec Barbara Duka over changes to the company’s MBS ratings methodology, finding her merely negligent instead – Law360

United Technologies is reportedly nearing a $20+ billion deal to buy Rockwell Collins, a pairing that would “create one of the world’s biggest aircraft-equipment makers” – WSJ

The UK’s Financial Conduct Authority needed to reach out to everyday Brits about the rather dry issue of payment protection insurance.  Enter the disembodied robot head of Arnold Schwarzenegger.  Because Britain, that’s why – 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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