Should Personal Finance Become Political? (We Say Yes!)

  • POUND FOOLISH: Should personal finance writers be political? Washington Post columnist and author of Pound Foolish, Helaine Olen says yes.

  • CENTRAL BANK: The European Central Bank cut its key interest rate on Thursday, the Wall Street Journal reported. The move is an attempt to turn things around in the global economy.

  • NEGOTIATION CLASSES: Free salary negotiation classes are springing up all over, according to CNBC. Check one out and report back if you can!

  • LATE CAPITALISM: We should have guessed that the next #girlboss-inspired product would be a Ms. Monopoly game. It's almost TOO on the nose.

  • BOARD SEATS: New research discussed in the Harvard Business Review shows that when women join boards, men become less confident.

  • TOXIC FRIENDS: Are you obsessed with the Caroline Calloway-Natalie Beach saga? Read this piece in The Cut and let us know what you think.

Markets Calm As Trade War Slows And No-Deal Brexit Looms

  • MARKET UPDATE: While the 30-year and 3-month yield curve inverted this week, the market did what it has been doing for a few weeks now: dropped 2 percent, then bounced back up. For now, it appears that things are calm, but we'll continue to cover major moves in this newsletter and on our Instagram stories. Be sure to follow along!

  • TRADE WAR: China signaled on Thursday that it and the United States are hopeful that a trade deal will be cut, according to Reuters. Which is likely a good thing, because a trade war with China will be more expensive for women than for men in the United States, according to Sunday Brunch Cafe.

  • HOUSEWORK GAP: The average full-time working woman spends 21 hours per week on housework, just seven hours less than the average time a woman spent in 1900. This is despite all kinds of technological advances. Bloomberg explains why.

  • WOMEN'S ADVICE: Consumers are looking for female financial advisers, according to the Wall Street Journal, and firms are taking note.

  • BREXIT: Boris Johnson, the prime minister of the United Kingdom, has suspended Parliament just days after it returns from a summer recess next week. The move is controversial because it shortens the length of time available for Parliament to come to a deal on Brexit. CNN has live updates on the move.

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Is It Just Us, Or Does The News Seem Especially Dystopian This Week?

  • THE AMAZON IS ON FIRE: No, not that one. The forest. And it's bad. The Amazon has been burning for roughly three weeks, and the fires were likely man-made, according to GQ.

  • BUYING GREENLAND: President Donald Trump said this week that he wants to buy Greenland from Denmark. On its face, it seems wild, right? Well, not so much, according to NPR. Trump isn't the only U.S. president to consider purchasing the country.

  • MARKET UPDATE: The markets slowed their roll this week, staying relatively stable as compared to last week's drop. In case you missed it, check out our guide to handling the recession. BuzzFeed News also had a helpful piece on it!

  • PLANNED PARENTHOOD: Planned Parenthood has stopped taking federal funding as the gag rule -- which would prevent the group from sharing information about abortions -- goes into effect, the LA Times reports.

  • WW: Weight Watchers' new app for children spurred this incredible New York Times opinion piece from Christy Harrison, which quotes friend of the newsletter Sophia Carter-Kahn.

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Markets Drop While WeWork Tries To Go Public

  • MARKET MOVES: The stock market fell roughly three percent on Wednesday, then stabilized Thursday. More details below in our She Saves section, but this Reuters piece on the U.S.-China trade war is related.

  • WEWORK: WeWork, the office space provider, has filed an S-1, or the document necessary to complete an initial public offering in the United States. It's bonkers. ReCode has more.

  • UNFAIR: When Glenn Thrush and Maggie Haberman's book deal fell through, Thrush, despite sexual harassment allegations against him, got to keep the money. Haberman did not, according to BuzzFeed News.

  • FAMILY LEAVE: A couple working for the law firm Jones Day is suing it over paid family leave, according to the New York Times.

  • WW: Weight Watchers has released an app for children, which is really bad. Elle explains why.

U.S. Faces Domestic Terrorism Via Mass Shootings, Again

  • GUN VIOLENCE: Following mass shootings in Dayton, Ohio, and El Paso, Texas, 200 mayors called on the Senate to impose stricter gun control laws. Reuters reports that Senate leader Mitch McConnell refused to act.

  • DEATH OF A GREAT: Incredible African American author Toni Morrison died this week at 88, the New York Times reports. Read her writing in the New Yorker about work here.

  • BETTER BIRTH CONTROL: Better birth control is inching into existence, with a contraceptive gel close to being mass-marketed. Bloomberg explains why innovation has taken so long.

  • REFI: Following interest rate cuts, home mortgage rates have dropped quite a bit. Mortgage rates are at their lowest in three years, which has many homeowners considering refinancing, the Wall Street Journal reports.

  • RESENTING THIS: Baby boomers have twelve times the wealth that millennials do, all because of housing prices, stagnant wages and the Great Recession, CNBC reports.

  • SOULCYCLE: The owner of SoulCycle and Equinox, Stephen Ross, faced backlash this week for planning a fundraiser for Donald Trump, CNN reports. SoulCycle's explanation for the matter is that Ross is a passive investor... but that doesn't mean the company he owns and profits from shouldn't face criticism.

How Did Epstein Make His Millions? And Will The Federal Reserve Cut Interest Rates?

  • MUST-READ: If you read anything this weekend, read this piece from the Dallas News on a U.S. citizen who was held in an immigration detention center for 23 days.

  • LATE PAYMENTS: If you're a freelancer or contract worker constantly chasing payments from your clients, you have to read this piece on Medium on what one writer did to get paid.

  • FOOD STAMPS: The Trump administration has taken steps to curtail food assistance for citizens, Bloomberg reports.

  • SUMMER READING: The Group, which was written by Mary McCarthy in 1963, is your perfect beach read for the year, according to LitHub. Already read it? The Staunchly newsletter has a roundup of amazing recommendations for more reading.

  • YOURS TRULY!: We were featured in CNBC this week! Our founder, Alicia, chatted with the author about money diaries.

  • ALL-MALE NO MORE: The last all-male board in the S&P 500, at Copart Inc., has finally appointed a woman, according to Bloomberg.

Gag Rule Goes Into Effect (But We're All Focused on The Squad)

  • GAG RULE: The Trump administration started enforcing the federal gag rule this week, which bars organizations like Planned Parenthood that receive federal funding through Title X, from discussing abortion as an option with folks, Politico reports. Planned Parenthood said it has limited emergency funds that it can use to tide it over while it dukes it out with the administration in court.

  • THIRDLOVE: Thirdlove, which is considered Victoria's Secret's biggest competitor, is opening a pop-up shop, Bloomberg reports.

  • MONEY TALKS: Vox's The Goods launched a new feature this week called Money Talks, which is all about the intersection of money and relationships.Check it out.

  • EPSTEIN BANKING: Deutsche Bank was the financial institution facilitating Jeffrey Epstein's financial business, Bloomberg reports. The bank severed ties with Epstein just this year. Related: Hedge-fund billionaire Glenn Dubin and his wife Eva Dubin (a model-turned-doctor), had financial, social and philanthropic ties to Epstein, Business Insider reports. Yikes.

  • WEWORK: WeWork co-founder Adam Neumann has cashed out of his WeWork stake just before the company lists itself publicly, the Wall Street Journal reports.

  • SQUAD FOREVER: We love the Squad, that is all.

How Did Epstein Make His Millions? And Will The Federal Reserve Cut Interest Rates?

  • MAJOR CREEP: Jeffrey Epstein is finally facing consequences for years-long repulsive behavior toward underage girls. He is allegedly a billionaire, but no one knows how he made his money. Business Insider had a scoop on this, while New York Magazine had a few conspiracy theories.

  • LOWERED PRICES: FLEX founder Lauren Schulte Wang announced that her company is lowering prices this week, in a bid to prioritize people over profits. Cool!

  • INTEREST RATE CUTS?: Federal Reserve chairman Jerome Powell signaled this week that he may cut interest rates, The Wall Street Journal reports.

  • FRENCH GIRL BUY: Private equity firm Permira has bought a stake in everyone's favorite tiny dressmaker, Reformation, City A.M. reports.

  • NO LOANS: SunTrust is joining the ranks of Bank of America and JPMorgan, refusing to loan money to private prison companies, Bloomberg reports. Related: the New York Times is reporting that ICE raids will start this weekend. Be prepared, using this guide from Informed Immigrant.

  • GAGA'S HAUS: Lady Gaga is launching a new beauty line, according to Business of Fashion.

Bank of America Joins Others in Denying Loans to Private Prison Companies Housing Children at the Border

  • BORDER CRISIS: Read this New Yorker article about one of the facilities holding children separated from their parents in deplorable conditions.

  • #MARSHAEJONES: An Alabama woman has been charged with manslaughter after having been shot five times in the abdomen, all because she miscarried as a result of the injuries, reports.

  • NO LOANS: Bank of America has joined Wells Fargo and JPMorgan in refusing to loan money to private prison companies, Bloomberg reports.

  • SHE/HER/HERS: Those pronoun email signatures aren't going away anytime soon, according to Quartz.

  • MEN'S TEAM: The US Women's Soccer Team is still paid less than the men's team. Deadspin asked the men's team how they felt about this. Their responses? No comment.

Slack Goes Public Via Direct Listing, Five NY1 TV Anchors File Suit

  • SLACK GOES PUBLIC: Everyone's favorite messaging app went public this week using a direct listing instead of an initial public offering, which means that it has no underwriters. CNBC reported on how quickly the firm's stock soared following the listing.

  • SHE'S POWERFUL: One of the most powerful women in the hedge fund industry doesn't manage money, The Wall Street Journal reports. Instead, she's a recruiter.

  • QUEEN JODIE: We can't wait for the Daria revamp, which centers on Jodie Landon, Daria's smart, resonant pal from the initial series. Neither can Man Repeller.

  • LAWSUIT: Five NY1 television anchors are suing their employer for sex and age discrimination, the New York Times reports.

  • VC GAP: The venture capital fundraising gap is worse for deep-tech startups run by women, according to Bloomberg.

Wall Street's Men Are Struggling To Take Paid Family Leave, While Its Women are Suing Goldman Sachs

  • PERSONAL FINANCE SCAM: A writer for GQ penned a smart essay on what the personal finance industry needs to do to be better. 

  • MILLENNIAL ART: White millennial women who write books and television shows centered on asshole women are having a moment in the media. But at what cost? asks Another Gaze

  • EMAIL RESPONSES: Illustrator Dani Donovan has a fantastic comic on how to respond to emails like a boss. Definitely saving this one. 

  • PARENTAL LEAVE: Dads on Wall Street are struggling to take their parental leave, Bloomberg reports. 

  • RESISTING: A group of women suing Goldman Sachs for gender discrimination are refusing to settle out of court with the bank, according to Bloomberg

  • THERANOS: What happens to your resume when you work for a company like Theranos? One Quartz reporter found out. 

Joe Biden's Abortion Problem

  • THIS WEEK IN ABORTION: Presidential candidate Joe Biden said he'd still support the Hyde Amendment, which bars federal dollars from being spent on abortions, except in the case of rape, incest or the mother's life is in danger, The Hill reports. In an MSNBC town hall, Elizabeth Warren explained why it's harmful to folks in poverty. Also, anti-abortion campaigners are running a period tracking app, the Guardian reports. 

  • QUEEN KESHA: Kesha released our new summer anthem this week, Pitchbook reports. It includes a line on equal pay, so it's obviously perfect. 

  • TRADE WAR: A trade war between the United States and Mexico heated up this week, as leaders from both nations negotiated in Washington, D.C., Reuters reports. The talks have arisen because President Donald Trump threatened to slap a 5% tariff on the country if it didn't stem migration from other Latin American countries to the United States. Said tariff would increase by 5% each month up to 25%. 

  • BREAK UP: Fiat Chrysler was set to buy fellow carmaker Renault. Then the deal fell apart, causing Renault shares to plunge. The Wall Street Journal explains what happened. 

  • EMILY DOE: The woman who was assaulted by Brock Turner is writing a novel, The Cut reports. 

Missouri is Facing A Closure of Its Last Abortion Provider

  • CLINIC CLOSURE: Missouri is about to become the first state without a clinic that performs abortions thanks to a procedural issue with the state's health department, according to NPR. The license expires today, so stay tuned for whether or not the courts will intervene. If you want to take action against this restrictive abortion ban, and others, check out these ideas

  • SHAREHOLDER VOTE: Facebook shareholders voted against splitting the company's chairman and CEO roles on Thursday, according to The Wall Street Journal. Doing so would have taken some power away from Mark Zuckerberg.  

  • ON BEAUTY: Feminism and the pursuit of beauty often feel at odds. Contrapoints shared a video this week on the issue from a trans perspective, which was fantastic. 

  • FAILURE TO DIVEST: Transportation Secretary Elaine Chao said she would divest her shares of Vulcan Materials. Then, she didn't, according to The Wall Street Journal.

  • NO AID: A lone representative in Congress, Tennessee's John Rose, has opposed a major financial aid bill for natural disasters for the third time this week, Buzzfeed reports. 

  • FREE FALLING: La Croix's shares are freefalling, as sales have dropped 9.4 percent in the last 12 weeks, according to Business Insider

The Fight Against Restrictive Abortion Laws Continues, Tesla Shares Tank

  • HE APOLOGIZED: If you don't read anything else this weekend, read this opinion piece in The New York Times, penned by Michelle Alexander. In it, sheshares how she made the decision to get an abortion after she was raped (her rapist apologized), and how she told her daughter about it years later. 

  • RETURN: Hedge fund giant David Tepper is returning his clients' capital after years in the industry, The Wall Street Journal reports. 

  • WYNN MONEY: The Republican party has accepted $400,000 in donations from ex-casino magnate Steve Wynn, who was accused of sexually harassing and assaulting employees last year, Politico reports. 

  • FARE SURGE: Uber and Lyft drivers are working together at Reagan National Airport to ensure that fares surge by shutting down the apps at the same time, then re-opening them to take advantage of the higher payout, WJLA reports. Sounds like the beginnings of a union, no? 

  • PENSION WAR: The Maryland State Pension Fund is working to divest assets from Alabama-based companies and brokers after the state passed its restrictive abortion ban, Institutional Investor reports. 

  • TESLA TROUBLE: Elon Musk wrote an email to employees this week saying that customer demand for their cars is still high, despite analyst concerns to the contrary, Business Insider reports. Tesla's stock tanked this month after skeptical reports on the company's growth prospects were published. 

Three States Pass Restrictive Abortion Laws, Igniting Concerns Over A Future Supreme Court Case Challenging Roe v. Wade

  • ABORTION LAWS: Three states passed restrictive abortion laws this week: Georgia, Alabama and Missouri. While it is still legal to get abortions in those states now, when the laws go into effect, most pregnant folks won't be able to access the necessary health care service. Things are bad, but if you want to make change, reach out to your representatives on a state and local level, and sign up to volunteer at your local abortion provider. Donate to groups like the Yellowhammer Fund. New York magazine has a great list of ideas on what to do here

  • TURBOTAX SCAM CONTINUES: It turns out that TurboTax forced a lot of people to pay to do their taxes who shouldn't have. ProPublica has more. 

  • OPIOID EFFECT: One opioid maker, Insys Therapeutics, told shareholders this week that it could be forced to file for bankruptcy, The Wall Street Journal reports. Its stock tanked 74% as a result. 

  • THERANOS 2.0?: Startup uBiome is using stock photos for customer testimonials on its website, The Wall Street Journal reports.

  • LGBTQ FAMILIES: The Trump administration has started de-recognizing the U.S. citizenship of children born to same-sex couples who are U.S. citizens, the Daily Beast reports. 

Donald Trump Wrote Down More Than $1 Billion In Tax Losses, His Former Chief Of Staff Profits From Role With New Board Seat

BILLION DOLLAR LOSER: President Donald Trump's tax returns show that he has written down at least $1 billion in business losses, according to the New York Times

  • ABORTION BAN = FORCED BIRTH: Georgia governor Bryan Kemp signed a bill into law this week that would prevent abortions in the state after six weeks. The bill criminalizes abortion, which means that women who attempt to leave the state to have the procedure, or who attempt it illegally could be charged with murder,Slate reports. 

  • HIDDEN DATA: The Consumer Financial Protection Bureau has moved to limit home loan data, which would severely limit the public's ability to keep an eye on discriminatory lending practices, according to Reveal

  • #FREEBLACKMAMAS: Black Lives Matter is working to raise bail money for black incarcerated mothers this weekend, per Medium.

  • FACE BREAKING: The co-founder of Facebook is now calling on the government to break the company up on the basis of it being a monopoly, per New York Times Opinion.

  • QUESTIONABLE BOARD SEAT: Former White House chief of staff John Kelly now sits on the board of a company, Caliburn International, that operates the largest shelter for migrant children, CBS reports. Seems suspect...

Several Publicly-Traded Companies Paid $0 in Federal Taxes, 50 Cent Got His Money By Monday

  • ZERO TAXES: Several publicly-traded companies including Amazon and General Motors paid $0 in federal taxes in 2018. Voters, according to The New York Times, are fed up.

  • CALLED OUT: Brown Brothers Harriman, a major investment firm, is advertising its financial advisory services for women. One problem, though, as Ellevest points out: The firm doesn't have all that many women employed in its top ranks.

  • BILLIONAIRES WORRIED: Some of the top-earning Wall Streeters are sounding the alarm on class inequality, DealBook reports. But it seems like their concerns are driven by concerns about economic growth, not because they think this is a problem that needs to be solved. Your thoughts? 

  • LIVE-IN HELP: Want to know why top-earning men are able to earn so much? It turns out that many of them have partners who stay at home, Quartz reports.

  • MONEY BY MONDAY: There truly is nothing better than a public feud between celebrities, especially one involving money. Lala Kent from Vanderpump Rules squared off with 50 Cent (also known as 'Fofty') last weekend. The Cut explains why. 

Tax Filing Bill Under Scrutiny, Private Equity Firms are Investing in EVERYTHING

  • TURBO SCAM: Turbotax makes it incredibly hard to file taxes for free, ProPublica reports.

  • THEY DID WHAT?: A former junk bond saleswoman for Cantor Fitzgerald wants to have her day in court company, claiming that her former co-workers allegedly sexually harassed her, Bloomberg reports. Lee Stowell claims her coworkers defecated in her Bernie Sander mug among other offenses. No wonder Cantor Fitzgerald wants to keep the case in mandatory arbitration and out of the public eye. 

  • SOROS FUND MANAGEMENT: The woman leading the Soros family office, Dawn Fitzpatrick, is making sweeping changes at the $25 billion firm, The Wall Street Journal reports. 

  • DEUTSCHE FOR SALE: UBS and Deutsche Bank are reportedly in serious merger talks, according to the Financial Times

  • TESLA TANKS: Tesla reported earnings this week and the results left something to be desired, according to The Wall Street Journal

Market Ignores Mueller Report, Billionaires Finance Notre Dame Rebuild

MUELLER REPORT: The Mueller Report, which details the months-long investigation into President Donald Trump, landed Thursday. While some expected that the stock market would falter as a result of the findings, it largely shrugged things off, Barron's reports

  • TWO QUEENS: Janelle Monae interviewed Lizzo for them. Need we say more?

  • SERENA: Ever wonder how Serena Williams invests? Now you can find out by checking out her venture capital fund's website

  • FED: Herman Cain is still under consideration for the Federal Reserve Board, despite concerns about his experience. Now, one woman who says Cain sexually harassed her has offered to describe to the Senate Banking Committee how his private parts look to corroborate her story, the Daily Beast reports.

  • NOTRE DAME: The Notre Dame burned this week, and private equity giants are stepping in to help defray the costs, Institutional Investor reports.

  • MLM: Is academia an MLM? Anne Helen Petersen ponders the question in her newsletter. Bonus reading: The Gentrification of the Mind by Sarah Schulman

  • INFLUENCERS AND "FEMINISM": Influencers love to bastardize the term "feminism," but at what cost? Blue Collar Red Lipstick explores the issue on her blog. 

Netflix, Jones Day Face Discrimination Lawsuits From Former Female Employees

  • DISCRIMINATION SUITS: A former Netflix executive, Tania Zarak, says she was fired from the company because she got pregnant. She filed a lawsuit against the company this week, Vox reports. Major law firm Jones Day was also sued this week by six former female employees, who allege that the firm discriminated against them based on their gender, The New York Times reports.

  • BEZOS DIVORCE: The divorce between Amazon founder Jeff Bezos and his wife, novelist and nonprofit head Mackenzie Bezos, has been finalized. Mackenzie is set to receive 4% of Amazon's common stock, according to Marketwatch

  • CAIN TO THE FED: President Donald Trump is set to name former presidential candidate Herman Cain to the Federal Reserve Board, Axios reports. Cain previously served on the Federal Reserve Bank of Kansas, but he does have a history of sexual harassment.  

  • VAWA PASSES HOUSE: The House of Representatives has passed a stricter version of the Violence Against Women Act, Politico reports.