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Financial Daily Dose 5.11.2021 | Top Story: FBI Identifies Hackers Behind Pipeline Attack

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More details on that massive ransomware hack that hit Colonial Pipeline over the weekend. The FBI has confirmed that hacking group DarkSide was responsible and that it’s “looking for any ties the group might have to...more

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The DC Circuit Court of Appeals dealt the DOJ a blow yesterday with a ruling that “rejected the government’s claim that a lower court had applied antitrust laws incorrectly in allowing the merger” between AT&T and Time Warner...more

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I wish I had some better news for you heading into Christmas, but Wall Street was not in the holiday spirit, with all major indices diving another 2% or so on Thursday....more

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PM May will live to fight another day after surviving Wednesday’s no-confidence vote. But her prospects of getting the controversial Brexit plan through the UK parliament are still poor, at best....more

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The Fed released minutes from its November meeting yesterday, and they reinforced the expected December rate hike while showing a more uncertain path for hikes in 2019....more

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The Federal Reserve bank released the minutes from its September meeting yesterday. Among other things, we learned that the Fed Governors moved largely in lockstep on September’s rate hike, even as the crew was less unanimous...more

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Blackstone CEO Stephen Schwarzman and BlackRock CEO Larry Fink have joined JPMorgan’s Jamie Dimon and a growing list of other business titans who have withdrawn from Saudi Arabia’s “Davos in the Desert” investment conference...more

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Dealbook gives us this uncomfortable take on China’s “nuclear option” in the trade war with the United States—its holdings of more than $1 trillion in US foreign debt and the possibility of stepping back from buying (or even...more

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Honda is joining forces with General Motors in an effort to win the race to develop self-driving cars through a $750 million stake in GM’s Cruise Holdings autonomous vehicle unit. The Japanese carmaker plans to contribute a...more

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Though he was apparently ready to go with his “verbal agreement with the Saudis” defense, Elon Musk capitulated to pressure “from his lawyers and investors of Tesla” and agreed to resolve all SEC allegations of wrongdoing,...more

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The latest round of big bank stress tests are in, and the Fed has rejected the capital plan of Deutsche Bank and limited the payouts of Goldman Sachs and Morgan Stanley....more

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New York’s Department of Financial Services has reached an agreement with Deutsche Bank that will see the German firm pay $205 million as part of a settlement to resolve state banking law violations over its Forex operations....more

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A day of massive lows (opening bell) and impressive rallies (with the dow up 230 by the end of the day) marked a wild Wednesday on Wall Street....more

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China’s latest response to the White House’s aluminum and steel tariff plans came in the form of a no-joke April 1 announcement of its own tariffs of roughly $3 billion in 128 U.S.-made products ranging from pork to wine and...more

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A roundup on Richard Thaler, the U Chicago professor named Monday as the winner of this year’s Nobel Prize in economics for his groundbreaking work in behavioral economics (and the consistently irrational human nature)....more

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Travis is still kicking around at Uber, and he made that quite clear late last week by using his “outsize voting rights” to name two directors to the 8-member board ahead of a vote to reduce Kalanick’s voting power at the...more

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So much for the quiet off-ramping for SoFi’s Mike Cagney. The fintech company’s board announced on Friday that Cagney is out immediately as CEO, not at the end of the year as Cagney had announced earlier in the week....more

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As anticipated, the Fed raised its benchmark interest yesterday (for only the second time since the 2008 financial crisis) to somewhere between .5 and .75 percent and, perhaps more critically, revealed its expectation for...more

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China’s expected to announce Q3 economic growth of 6.7 percent this week—a number envied by any other country in the world but the sign of major slowdown there. Dealbook looks at what, exactly, a less-gangbusters Chinese...more

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