Old-school retailer Lord & Taylor has reached a deal with WeWork to sell its landmark New York flagship store for $850 million. L&T will continue on with a greatly decreased department store footprint in the space, but the move seems only to confirm that “even the grand physical shopping spaces of old are now worth more as office space catering to millennials” – NYTimes and WSJ and Bloomberg

McDonald’s hasn’t exactly been counted out, but it’s taken some blows of late with consumers’ healthier habits. So, Mickey D’s is undoubtedly celebrating the success of its recent strategy that focuses on budget-friendly fare to entice eaters and tempting them with innovative offerings once safely within the golden arches – NYTimes and Bloomberg

Uh, so much for “struggling.” The Senate took up the CFPB’s arbitration rule yesterday, and the VP broke a 50-50 tie in order to overturn the rule that would have prohibited class action bans from arbitration clauses – Law360 and WSJ

Another round of ransomware is plaguing infrastructure systems and companies in Europe and the US, though its damage is expected to be less severe than previous outbreaks – WSJ and Wired

MassMutual and Goldman Sachs have put to bed a $175 million dispute over toxic RMBS. The insurer had accused Goldman of lying about the quality of the loans in the securities – Law360

Some thoughts on the impact of ex-HSBC forex trader Mark Johnson’s front-running conviction on the $5 trillion FX market – Bloomberg and Law360

Hulu CEO Mike Hopkins is decamping after 4 years to take over the chair seat at Sony Pictures Television, a role that’s sat vacant for over a year – NYTimes

Tesla’s Solar City is planning to package up roughly $340 million of solar power-purchase agreements and leases into a bond offering. The offering follows on the heels of a $145 million securitization earlier in 2017 – Bloomberg

With ICOs booming despite plenty of regulators’ concerns, the co-founder of cybercurrency tech project Tezos has called into question the basic nature of the offerings by saying that those participating in ICOs would be better thought of as donors rather than investors – WSJ

If Oscars are any indication, it’s tough to deny that Brits can nail an American accent.  But when it comes to our dialogue, the results are decidedly more mixed – NewYorker

 

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