John Flannery’s been working hard to right the ship at GE, but the seas have turned choppy again this week on news that the company’s taking a $6.2 billion Q4 write-off “after conducting a review of the insurance portfolio that is part of GE Capital, the finance arm.” The charge is helping fuel further speculation about the company breaking itself apart – NYTimes and WSJ and Bloomberg
By comparison, you’d think Citigroup’s $22 billion tax-related charge would cause the Street to freak out. But investors apparently are taking the long view and pushed Citi shares higher yesterday based on the anticipated impact of the new tax law on earnings and higher than expected revenue – WSJ and MarketWatch
Hey, 9 major banks. Welcome to Canadian Libor [CDOR, eh?] – Law360
More on the continuing fallout from the UK’s Carillion collapse scandal – NYTimes
Dealbook’s Andrew Ross Sorkin takes up the pen on this look at BlackRock’s demand of the world’s largest companies—delivered via letter signed by the firm’s founder and CEO Laurence Fink—informing them that the support of his more-than $6 trillion fund will turn on those companies’ contributions to society, not just on the bottom line – NYTimes and WSJ and Bloomberg
A bit of Law360 Analysis explores the 2d Circuit’s clarification in Abacus of the standard of proof required to rebut class certification on allegations that a company’s misstatements “directly impacted its stock price” – Law360
The Mulvaney-helmed CFPB has announced plans to revisit an Obama-era rule that placed federal restrictions on high-interest payday loans – WSJ and Law360
As the UK juggles with weighty issues like Brexit and the Carillion disaster, other news—like its effort to plant and cultivate a coast-to-coast forest 50 million trees strong—may understandably slip under the radar. Well, no more – Wired
