Markets used news of the FDA’s full approval of the Pfizer BioNTech coronavirus vaccine as the excuse they needed to jump back up after a few days of losses. All three major indices were up near the 1% range, with the Nasdaq leading the pack - NYTimes and Barrons and Bloomberg
That FDA imprimatur was enough for Chevron, CVS, and other big companies to move to mandate vaccines for at least some of their workforce - WSJ and Bloomberg and NYTimes
A new measure in the South Korean legislature “expected to face a crucial vote this week” would “be the first law in the world to require companies that operate app stores to let users in Korea pay for in-app purchases using a variety of payment systems” and prohibit developer exclusivity requirements. App-store giants Apple and Google have been fighting the legislation tooth and nail, and they’ve recently turned to “an unlikely ally”—the U.S. government, itself newly interested in reining in Big Tech’s monopoly powers—in an effort to upend the law - NYTimes
Boeing has agreed to invest in Richard Branson’s Virgin Orbit’s planned $3.2 billion SPAC listing even as “the plane maker’s own space program faces hurdles” - WSJ and TechCrunch
Still, Big B would probably take a little public space-related humility over a new FAA review of how the company handles reports of safety concerns following a survey suggesting certain Boeing employees faced “pressure and hurdles to transparency” - WSJ
A search for yield—what else—is driving yet another Wall Street return to bundling private-label mortgages into bonds to willing investors. Though Fannie & Freddie-backed mortgages dominate the market, Q2 saw the most private market bonds hit the market “since the pandemic started and almost the most for any quarter since the last financial crisis.” Because whatever could go wrong? - WSJ
Some bargain hunting works, too, and this morning it’s helping drive investors back into the market for Chinese tech stocks (despite the well-publicized regulatory crackdown by Beijing in recent months). Ark’s Cathie Wood is helping lead the charge - Bloomberg
The Upshot on why, exactly, we need to care about an overheated economy. There’s plenty for economists to debate, but much of the concern, in short, comes down to whether prices are rising faster than average wages - NYTimes
Here’s how Chair Powell and his colleagues are hoping to deal with it all (and what we may hear from him at Friday’s virtual Jackson Hole gathering) - WSJ and Bloomberg
A pair of former FinCEN officials are using the Supreme Court as the battleground for a turf war with the SEC over anti-money laundering enforcement. In a Friday filing, ex-FinCENers chimed in supporting “a penny-stock brokerage firm’s petition claiming that the SEC had brazenly usurped FinCEN’s authority to enforce violations of the Bank Secrecy Act” – Law360
As we prepare for the Elizabeth Holmes/Theranos inundation coming with the start of her criminal fraud trial at the end of the month, the Times considers the less obvious but real long “shadow” Holmes cast over young female entrepreneurs, many of whom are still dealing with the adverse effects of Holmes’s “seemingly indelible image of how female founders can push boundaries” - NYTimes
Likely looking to do its part to fill that gaping Toys R Us void, Target announced on Monday that it will triple the number of “shop-in-shop” Disney pop-ups to more than 160 in anticipation of the coming holiday season - WSJ
Putting into cotext Amazon’s recent announcement that it’s taking a few small steps into the brick-and-mortar department store realm with a basic truth: “some things are just better done in person, both logistically and spiritually” - TheAtlantic
Stay safe, and get vaxxed,
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