Opening Bell 5.25.18

Regulation Rollbacks; Amazon Eavesdrops; Crematorium Cannons and More!
Author:
Publish date:

Trump signs the biggest rollback of bank rules since the financial crisis [CNBC]

President Donald Trump signed the biggest rollback of bank regulations since the global financial crisis into law Thursday.
The measure designed to ease rules on all but the largest banks passed both chambers of Congress with bipartisan support. Backers say the legislation will lift burdens unnecessarily put on small and medium-sized lenders by the Dodd-Frank financial reform act and boost economic growth.

Amazon's Alexa Eavesdropped and Shared the Conversation [Bloomberg]

The tech company responded Wednesday to a KIRO 7 news report that the pair got a phone call recently from the acquaintance, one of the husband’s employees, saying "unplug your Alexa devices right now. You’re being hacked." The Portland couple used Amazon’s voice-activated devices throughout their home to control heat, lights and security, according to the news report.

Shares and dollar recover, Italy markets set for big weekly loss [Reuters]

Markets were soothed somewhat by the Pyongyang’s measured response to Trump’s announcement, with Vice Foreign Minister Kim Kye Gwan expressing hope for a “Trump formula” to resolve the standoff over its nuclear programNorth Korea tensions aside, markets’ appetite for risk was kept in check by concern over Italy’s president opposing the incoming coalition government’s plan to appoint a politically inexperienced eurosceptic as economy minister.

General Data Protection Regulation. What Data You Agree to Surrender [WSJ]

Companies say they use data about you to personalize services, such as search results, as well as to personalize advertising to fund those services. Advertising is widely considered more valuable if it is more targeted, which is why companies use information from tracking users’ web browsing or from other providers like data brokers to sell targeted ads. Most now either ask for consent or allow users to opt out of such targeting, but with some exceptions they do not allow users to opt out of the collection of that data.

Crematorium Shoots Human Ashes into The Sky in Freak Accident [NY Post]

Heavy smoke containing human ashes spread through the San Diego air after an emergency Thursday afternoon at the Cortez Family Crematorium in National City, news station KGTV reported.Fire officials said the crematorium’s furnace door wasn’t properly closed, causing remains to spew out of the chimney and open doors.

Related

Trump.Paulson

Opening Bell: 11.4.16

Pensions spring for sex shops and sewage; election triggers Wall Street bros; Paulson's hedge fund reeling on pharma bets; RedtTube's election prediction; and more.

garylloyddivorce

Opening Bell: 12.13.16

How will Gary Cohn fill his post-Goldman void? Will Trump live-tweet the FOMC meeting? How does one blow $2 million on boats and strippers? And more.