Your daily dose of financial news The Brief – 5.12.16

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Record-setting executive compensation aside (hey, that was so last year), hedge funds have been hammered by the recent spate of mega-deals come undone. Particularly hard hit are the funds focusing on “merger arbitrage”—a type of trading that “places bets on the likelihood that deals will be completed” – NYTimes

The big banks aren’t faring well in the deal-bust environment, either – WSJ

Google’s extending the reach of recent corporate social activism into the realm of finance, announcing yesterday that as of this July it’s enacting a global ban on all ads on its website for payday loans and related products – NYTimes and WSJ and Law360

Even as Mitsubishi is acknowledging that the scope of its own emissions cheating scandal is wider than originally reported, Nissan’s reportedly looking into snapping up its fellow Japanese carmaker – Bloomberg

Theranos is taking action to regain credibility in the face of a criminal investigation and regulatory pressure. The embattled blood-testing company is replacing its COO and expanding its board, some of its biggest moves yet – NYTimes and Bloomberg

JPM’s Jamie Dimon vs. the head of a community banking group.  Seems like a fair fight, doesn’t it? – WSJ

Some insta-feedback from the internet on Insta’s logo change—you fools, change it back – NYTimes

It’s hard to imagine more chaos in Brazil these days.  President Dilma Rousseff is well on her way to being impeached. Olympic preparations are a mess. And its economic slowdown continues without an end in sight.  Yet, as the Journal reports, betting against its stock market at the moment is a big mistake – WSJ

The Minnesota All Tournament Hockey Hair’s getting some deserved national attention, thanks to master of mullets Barry Melrose and the E:60 instant classic: Minneflowta – ESPN

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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