Chinese internet giant Tencent has purchased 8.17 million shares of Tesla—good enough for a 5 percent stake in the electric-car company – NYTimes and Bloomberg
Greenlight Capital’s David Einhorn is pushing GM to split its common stock into two classes—one for dividends and the other for all additional earnings—in an effort to boost the carmaker’s market cap. GM’s not on board – WSJ and Bloomberg
Parent-company Toshiba’s current struggles aside, Westinghouse has been in trouble for some time, and it filed for bankruptcy protection today—a major blow to the nuclear power industry it helped develop – NYTimes and WSJ and Bloomberg
In our on-again, off-again set of concerns over the rise of the robots, it appears that we’re in an “oh yeah, it’s on” phase—not just for manufacturing, but in finance, too [right, Blackrock?] – NYTimes and WSJ
“Deep Subprime”—that’s the category of bonds containing bundles of the riskiest car loans representing about a third of the market. It can’t end well, can it? – Bloomberg
Wells Fargo has earned a failing grade for its community lending according to the OCC, the bank’s regulator, thanks to Wells’ well-documented issues with “discriminatory and illegal credit practices” – NYTimes and WSJ and Law360
And on that front, the bank has agreed to pay $110 million to resolve class-action allegations regarding unauthorized account openings – Law360
Some thoughts on change in our national pastime and an urging to look to the past when gathering ideas – NYTimes
