The US’s ongoing trade war with China—which just isn’t going away any time soon—has prompted the White House to propose a new “$16 billion bailout for farmers hurt by Beijing’s tariffs.” At the same time, leaders from both countries appeared intent on preparing for the long haul – NYTimes and WSJ and Bloomberg
Federal prosecutors have indicted Stephen Calk, the chair of the Chicago-based Federal Savings Bank, on a charge that “he issued millions of dollars in high-risk loans” to Paul Manafort “in an effort to obtain a senior position” in the new Administration – NYTimes and WSJ and Bloomberg and Law360
A new SEC-issued rule set for a final vote on June 5 will, if adopted, require stockbrokers “to disclose more about conflicts of interest that can bias investment advice.” Despite that increased burden, the rule is “favored by Wall Street” and is the product of years of battling between the financial industry and regulators in the wake of the Obama administration’s proposed fiduciary rule for financial advisers – WSJ and Law360
An excruciating week for PM May appears to be ending with a self-proposed timetable for her departure as the head of her Tory party (and eventually away from 10 Downing) in early June – Bloomberg and NYTimes and WSJ
The Journal looks at why magazine giant Meredith, which snapped up Time Inc. last year and its stable of glossies—including Time, Fortune, Money, and Sports Illustrated—decided to ditch some of these prestigious titles “with little nostalgia” – WSJ
The Fed’s considering taking action this fall on “proposed cybersecurity standards for big banks and their vendors in the face of increasingly prevalent cyberthreats,” front-burnering rulemaking that it, the OCC, and FDIC first began back in October 2016 – Law360
It was far from a fun Thursday for Deutsche Bank CEO Christian Sewing and Board Chair Paul Achleitner, but they and other DB leaders managed to survive the shareholder shaming session and the subsequent vote to retain their seats – NYTimes
Food delivery startup DoorDash raised $600 million in a recent funding round, a sum that puts the company’s at a staggering $12.6 billion—nine times its estimated valuation from just a year ago – WSJ
Happily sending you into the holiday weekend with a strong dose of late-80s nostalgia courtesy of the Lonely Island crew – YouTube
See you back here on Tuesday.
