In a major reversal of recent trends, workers at an Amazon warehouse not far from the first to unionize just last month rejected a similar effort to organize by a 2-1 margin. The result “was a setback for the upstart Amazon Labor Union” and “points to the possible limits of an uptick in worker interest in unionizing at Amazon and beyond” - NYTimes and WSJ and Bloomberg and MarketWatch and TechCrunch
Spirit Airlines has formally rejected the 11th-hour bid by JetBlue for the low-cost carrier, citing challenges in gaining regulator approval for the deal as a reason for rejection. The move sets Spirit back on a path to merge with Frontier Airlines—“a deal that predates JetBlue’s offer and that Spirit argued reflected the best interests of long-term shareholders” - NYTimes and WSJ
Stocks clawed their way back into the black after an early selloff to begin the week marginally higher, with the Nasdaq leading the way - WSJ and MarketWatch
EU antitrust authorities have levied new charges against Apple, accusing Cook & Co. of “unfairly undercutting companies whose payment services competed with Apple Pay” by “not giving PayPal and others access [to] technology in the iPhone and Apple Watch that lets people make a purchase with a quick tap.” The charges stem from a 2020 European Commission investigation - NYTimes and WSJ and Bloomberg and TechCrunch
Some good stuff from the WSJ Glossary folks on how asset bubbles form (and “what happens when they burst”) - WSJ
Citibank acknowledged yesterday that “one of its trading desks was behind a flash crash in Europe, which sent shares across the continent tumbling after a sudden 8% decline in Swedish stocks.” Citi said it identified and corrected the error “within minutes,” but by then the damage was done - Bloomberg
In what we’d have to call a mixed bag for BP, the energy giant this week “reported its highest profit in a decade” but also wrote off “about $25.5 billion on its nearly 20 percent holding in Rosneft, Russia’s state-controlled oil company, and other ventures in that country” - NYTimes and WSJ and Marketplace
The CFPB lives to fight another day. On Monday, the 5th Circuit ruled that the consumer agency “can continue an enforcement action against a payday loan company challenging the agency’s constitutionality, saying the U.S. Supreme Court already answered the interlocutory question” and “stopped short of striking down the agency entirely” – Law360
Your behind-the-scenes look at how Elon convinced the Twitter board to get on board with his massive $44 billion buyout proposal - NYTimes
And, while we’re at it, the mega risk that the plan signifies for the voluble South African - NYTimes
The real content you came here for: the slushie deep dive. Oh yeah, 80’s babies, drink it in - TheAtlantic
Stay safe,
MDR
The Robins Kaplan Financial Daily Dose features top stories and latest news headlines in financial markets, banking, securities and technology topics.
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