Your Daily Dose of Financial News

Robins Kaplan LLP

As many expected, DC Federal District Judge Any Jackson has blocked the proposed Anthem/Cigna healthcare mega-merger, citing harm to customers and other anticompetitive effects as insurmountable roadblocks – NYTimes and WSJ and Bloomberg

The Journal warns that a lethal mix of a shrinking US role in the global grain market, a strong dollar, and high seed costs are helping lead to the next American farm bust right before our eyes – WSJ

Though the rule itself is in an odd kind of limbo at the moment, the DOL’s celebrating another win over its ability to promulgate its fiduciary rule—this time in Texas federal court against a challenge from the US Chamber of Commerce – Law360

While Wall Street’s been waiting with bated breath for the big Snap IPO, Jose Cuervo (yes, that Jose Cuervo, via parent company Becle) has briefly stolen a bit of its public offering thunder with its plans to sell shares on the Mexican Stock Exchange in the hopes of raising upwards of $740 million (or 15.3 billion pesos) – NYTimes and WSJ and Bloomberg

The SEC appears within months of approving a bitcoin ETF, raising concerns about a speculative rush into the virtual currency. Remember our Social Network lesson: if it’s good for the Winklevii, it’s probably not good for the rest of us – WSJ

The ECB’s QE over the past year has largely worked in helping the European economy stay afloat despite the shock of Brexit. Still, long-simmering debt crises and struggling economies  in Italy and Greece still threaten to crash the Euro – NYTimes

Looks like PayPal may have some AML compliance explaining to do – WSJ and Bloomberg and Law360

When it comes to the Blackstone Group’s fortunes, Stephen Schwarzman’s your man.  But the country itself?  Sequoia Capital partner Michael Moritz suggests that the White House look elsewhere for inspiration – NYTimes

There’s a storm a-brewin’ for the Northeast.  We’ve got you covered (food-wise, at least) – NYTimes

Admit it.  You’ve been dying to know what the hell was going on with that I YT.S. tank that Tommy was sporting this summer.   All of your answers (and lots of Bolognese talk), right here – GQ

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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