Your Daily Dose of Financial News

Robins Kaplan LLP

Back at it.  Hope everyone had a good 4th.  Let’s get caught up . . . .

Some analysis of a pretty solid US Jobs Report for June—the last, mind you, before the trade war went hot – NYTimes and Marketplace and WSJ

Ahh yes, the trade war.  Things didn’t neatly solve themselves while we were gone.  Here’s the latest—and it’s a doozy – NYTimes and WSJ and Bloomberg and MarketWatch

We’ve got a new take on the rise of the machines; it now appears we’ve been underestimating the power of AI, which is harnessing the power of algorithms to target white-collar work previously considered safe from automation – NYTimes

The European Central Bank has become its slow process of looking for a successor to current President Mario Draghi, who won’t leave his post for more than a year.  Still, the battle for control—which will involve a “delicate political dance”—is already well underway – WSJ

Brexit discussions continue to be a struggle for PM Theresa May and her government, and the departure of Brexit Secretary David Davis over the weekend isn’t helping her cause – Bloomberg and WSJ

Credit Suisse will pay $77 million to the DOJ and SEC to resolve allegations that it ran afoul of the Foreign Corrupt Practices Act by hiring relatives of influential Chinese officials in order to grease the wheels there – NYTimes

The Winklevii’s bitcoin exchange continues to move mainstream, as demonstrated in past days with its hire of Robert Cornish—the NYSE’s top tech executive – WSJ

A former SocGen executive facing Libor manipulation charges in NY federal court is seeking dismissal based on an argument that she and a fellow female exec were “targeted for prosecution because of their gender, while their male higher-ups skated” – Law360

Univision is looking to unload its Fusion Media Group arm—home of Gizmodo, Deadspin, and others in the ex-Gawker family—just a year after its bid to sell a 20% stake in Fusion met great indifference in the markets – WSJ

Chinese tech “darling” Xiaomi’s shares were down 4% within hours of their public debut in Hong Kong. Analysts are watching intently to see how the disappointment will affect other Chinese tech companies mulling IPOs of their own – NYTimes and WSJ and Bloomberg

And while we’re talking public offerings, the long-anticipated Aramco IPO appears—after more than two years of prep work—to in an indefinite holding pattern – WSJ and Bloomberg

With a tidy 2-0 win over Sweden on Saturday, England’s in the semis and making a run at the Copa Mundial. Why, you might ask? A bit of Southgate, some Pickford, and a dash of Kane, to be sure.  But don’t overlook the power of a good “It’s coming home” meme – WSJ

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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