Another week, another Elon tantrum. This time, Mr. Musk and his legal team have dispatched a “crisp, six-paragraph letter” to Twitter, accusing it of “actively resisting and thwarting” Musk’s rights while “completing a $44 billion deal to buy the social media service.” It characterized Twitter’s refusal to comply with Musk’s data requests (largely about fake accounts on the platform) as a “clear material breach” of the deal—even though Elon “had waived his rights to do due diligence on Twitter when he bought it” - NYTimes and WSJ and Law360 and Bloomberg
Wisconsin’s Kohl’s Corp. is “in advanced talks” with Franchise Group Inc. to be acquired “in a deal that could value the department-store chain at roughly $8 billion” - WSJ
The Fed is giving itself some wiggle room on rate hikes as it attempts to navigate that fine line between appropriately warning markets about coming hikes and reassuring traders that it will be watching the impact on the economy as it carries out its inflation-fighting plans - Bloomberg
Friday delivered another fairly robust jobs report, with figures topping expectations by nearly 60k jobs. The Times looks at the potential “dark side” of the ongoing labor market strengths, including forgoing higher education and training now to take a job that could cost you “more job stability in the longer run” - NYTimes
BoJo lives to party another day - Bloomberg and NYTimes and WSJ
Stung by recent reports of managers conducting “sham interviews of nonwhite and female candidates” in order to satisfy its “diverse slate” policy, Wells Fargo announced this week that it’s “temporarily suspending” the initiative to “give the bank’s leaders time to study its use and make changes” - NYTimes
Keeping tabs on the SEC’s Gary Gensler ahead of some big rules releases tomorrow that have the potential to “reshape how [the] stock market operates.” Among the proposals is a possible change to the way “trades are handled after an investor places a so-called market order with a broker to buy or sell a stock” that would help do away with the “payment for order flow” process that Gensler says “creates a conflict of interest and limits competition for individual orders” - WSJ and Bloomberg
All the hits from Apple’s latest Worldwide Developers Conference event, including M2 chip updates and the latest MacBook Air model - Bloomberg and NYTimes and WSJ and TechCrunch
The White House is pausing new solar tariffs for two years in an effort to appease “importers who have complained the levies are threatening broader adoption of solar energy in the United States.” The move “goes against the wishes of some American solar manufacturers and their defenders, who have been pushing the administration to erect tougher barriers on cheap imports to help revive the domestic industry” - NYTimes and WSJ
CityLab’s hot take on the overhauled LGA. Transformed? Yes. Transformational? Not quite - Bloomberg
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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