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Financial Daily Dose 3.22.2021 | Top Story: Canadian Pacific and KC Southern strike $ 25 billion rail merger | Robins Kaplan LLP

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Mega Rail News to kick off our week, as Canadian Pacific Railway partners with Kansas City Southern in a $ 25 billion deal, “creating the first railroad to cross Canada, the United States and Mexico”. Industry watchers suggest that the deal, if finalized, “could very well be the latest chapter in the saga of railway mergers that was started by deregulation in the 1980s and was credited with having saved a dying industry ”- Bloomberg and New York Times and WSJ

DOJ officials have launched an antitrust investigation into Visa’s debit card market practices – in particular, whether the payment card giant “has limited the ability of merchants to route debit card transactions over credit card networks. cards which are often cheaper ”- WSJ and Law360

The Fed is allowing a temporary exemption to expire “from a rule that dictates the amount of capital banks must keep in reserve”, but also indicates its willingness to consider “future regulatory changes if changes are deemed necessary to maintain the proper functioning of essential markets ”- New York Times and WSJ

We followed VW’s big electric bet last week. This piece suggests that the dark night of the soul induced by the automaker’s diesel scandal may have ‘helped pave the way for its makeshift reversal’ – New York Times

Some rare good news for the AstraZeneca vaccine today, which researchers have found to be 79% effective in preventing symptomatic infections, “higher than seen in previous clinical trials,” while causing “no serious side effects. “. AZ said he was likely to seek emergency clearance from the FDA “in the coming weeks” – New York Times and WSJ and Bloomberg

Seeking to stay on the safe side of the world’s two superpowers (and following Chinese military concerns over Tesla cameras relaying footage of Chinese equipment and personnel to the United States), Elon Musk vowed that his company would never provide the US government. with the data collected by its vehicles in China or in other countries ”- WSJ

Crypto-exchange operator Coinbase Inc. is paying $ 6.5 million to resolve allegations by the CFTC that it has inflated its trading volume in a way that could “trick others into believing it” there is more liquidity than there really is ”- WSJ and Law360

Meet Pinduoduo, the five-year-old e-commerce app that “turned discount shopping into online game” and in so doing disrupted Alibaba and JD.com’s “stranglehold” on the Chinese consumer market. online shopping – WSJ

Booming IPOs and the rise of PSPCs mean that startups’ weaker interest in going public is likely to start a flood of offers now that blank control firms are looking for “a limited pool of potential targets.” “- New York Times

Turkish President Recep Tayyip Erdogan surprised the financial world on Friday by unexpectedly ousting the governor of Turkey’s central bank in a “move that risks plunging the country into further economic turmoil” – WSJ and Bloomberg

Former Treasury Secretary Larry Summers is doing all he can to make it known that he opposes Covid’s recent stimulus package, calling the approach “the least responsible macroeconomic policy in four decades.” Thanks, Larry – Bloomberg

Bloomberg embarks on Greensill’s postmortem match – Bloomberg

To go to the silent library or to go wild – the Journal offers some tips from psychology researchers for finding the right sound balance when working at home – WSJ

Be careful.

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