Spotify valued at $8.4 billion; Harvard Business School has a nice little side gig; Citi's top risk exec to exit; "Biden puts Bloomberg’s grandson’s pacifier in his mouth"; and more.

$$$ Dow Hits Highest Close Ever [WSJ] $$$ Venezuela's Hugo Chavez dies from cancer [Reuters] $$$ FBI joins SEC in computer trading probe [FT] $$$ Wall Street 'Deal Toy' Indicator Flashes a Bullish Sign [CNBC] $$$ A Friendly Conversation with a Banker [The Billfold] $$$ There Is A Petition To Make R Kelly's “Ignition (Remix)” The National Anthem [BuzzFeed] $$$ An international trading house is looking for a Dodd-Frank compliance officer for its swap dealer business [DBCC] $$$ Citigroup Books $579M for Pay Plan Shareholders Panned [Bloomberg] $$$ Board Patience Wears Thin at Penney [WSJ] $$$ Buybacks, M&A, and de-equitisation [FTAV] $$$ ISDA to Send Credit-Default Swaps Changes to Traders [MarketBeat] $$$ The FBI is looking for a drone, if you've seen it [FBI]

$$$ Third Point’s Loeb Warns Yahoo Chief of Looming Proxy Fight [DealBook] $$$ "LightSquared has retained two of the most prominent conservative litigators in the country — Theodore Olson and Eugene Scalia — in a sign it could be preparing to launch a court battle against the FCC." [Politico] $$$ SEC Details Charges Against Pre-IPO Funds [WSJ] $$$ Surprisingly, placing third at the Jewish Olympics makes you only an average ping-pong player [BI] $$$ "Talk about selfish, such accomplishments didn't help anyone but him! There is no customer that will pay for self-indulgent status climbing in irrelevant hierarchies, regardless of how much we encourage our kids to play such games. That is, ping pong is a fabulous avocation, a pathetic vocation." [Falkenblog] $$$ How would you like to be an equity portfolio associate for PIMCO in Newport Beach? [DBCC] $$$ Bernanke says Fed to make bank rules clearer [Reuters] $$$ Pension funds don't want 100-year gilts [FT] $$$ Fitch Revises U.K.’s Sovereign Rating Outlook to Negative [Bloomberg] $$$ Pulitzer Prize-winning financial reporter Jesse Eisinger explains how he prepared for his role in The Social Network: "I became a billionaire to see what it felt like. I already knew about how to be rejected by girls, so that was easy. My role in Zombieland was much more difficult to prepare for." [Reddit] $$$ Former brothel owner makes Olympic team [MSN]

$$$ RBS speeds up investment arm split [Telegraph] $$$ How much value does the finance industry create? [Noahpinion] $$$ Leverage can increase volatility and diversification can reduce risk [WSJ] $$$ Why London hedge fund wives don’t do Switzerland [EFC] $$$ Cheese fire causes traffic meltdown in Norway tunnel [Reuters] $$$ Registration for the 5th annual Decathlon starts today! This year’s competition takes place on July 28th, and also includes monthly “Throw Downs” where all registered Decathletes compete in 1-2 Decathlon events and collect charity bets on head-to-head match-ups (40 yard dash! Pull-ups! Bench press!). All proceeds benefit the Memorial Sloan-Kettering Cancer Center. $$$ A hedge fund in New York is looking for a quantitative macro strategist/economist [DBCC] $$$ Wells Fargo Lifts Quarterly Dividend 14% [FBN] $$$ Deutsche Bank Said to Be Asked by Bafin to Simulate Split [Bloomberg] $$$ Schroders Worker Among FSA Insider-Trading Probe Arrests [Bloomberg] $$$ Is seducing executives in order to get and trade on inside information illegal? [NetNet / John Carney] $$$ ‘Your Cat Is Not Innocent’: New Zealand Man Launches Campaign to Rid Country of Cats [Gawker]