Tag Archives: Brexit

Financial Daily Dose 9.16.2019 | Top Story: Weekend Attack on Aramco Oil Fields Sends Energy Prices Soaring

BY: Michael D. Reif | September 16, 2019

A drone attack on Saudi Aramco oilfields this weekend affected 5% of global production and sent “energy prices substantially higher” late Sunday and early today. Analysts don’t anticipate a “severe shock to energy markets and the world economy” for the long term, but that said, the political and military fallout from the attacks threaten to … Continue reading

Financial Daily Dose 9.13.2019 | Top Story: ECB Cuts Rates and Restarts QE in Effort to Preempt European Downturn

BY: Michael D. Reif | September 13, 2019

The ECB was even more aggressive than expected in its moves to “head off a downturn before it gained momentum,” cutting a key interest rate and reviving “a money-printing program.” At the same time, the central bank “issued an unusually strong call for eurozone governments to do more of the economic heavy lifting” – NYTimes … Continue reading

Financial Daily Dose 9.10.2019 | Top Story: Activist Investor Singer Discloses Stake in AT&T and Pushes for Change

BY: Michael D. Reif | September 10, 2019

Paul Singer’s Elliott Management hedge fund revealed a $3.2 billion stake in AT&T and, along with it, a healthy-skepticism of the company’s 2018 purchase of Time Warner and general calls to divest as part of a 24-page letter to the company outlining changes needed to help drive up its share price – NYTimes and WSJ … Continue reading

Financial Daily Dose 9.6.2019 | Top Story: A Preview of Today’s U.S. August Jobs Report

BY: Michael D. Reif | September 6, 2019

Jobs Report Friday! Here’s what to look for in the numbers – WSJ and Bloomberg and NYTimes The White House has rolled out its “long-awaited plan” to return federal mortgage giants Fannie Mae and Freddie Mac to the private sector. The proposal takes the form of a 49-recommendation approach that’s “unlikely to find an eager … Continue reading

Financial Daily Dose 9.5.2019 | Top Story: YouTube Fined $170 Million for Violating Kids’ Privacy Law

BY: Michael D. Reif | September 5, 2019

Google will pay a “record $170 million fine and make changes to protect children’s privacy on YouTube” as part of a deal it reached this week with the FTC and NY AG’s office, both of whom had accused YouTube of “violating the federal Children’s Online Privacy Protection Act, or COPPA.” Though the fine is the … Continue reading

Financial Daily Dose 9.4.2019 | Top Story: UK Parliament Rebels to Defy Prime Minister on Brexit

BY: Michael D. Reif | September 4, 2019

Aaaand, we’re back at it.  Hope all enjoyed a good holiday weekend. One can prorogate all one wants, but raise the ire of British MPs, and a price will be paid, my friends. So goes the story for PM Boris Johnson, against whom British lawmakers “rose up” on Monday to “prevent him from taking the … Continue reading

Financial Daily Dose 8.30.2019 | Top Story: E-cig Company Juul Faces Federal Probes into Marketing and Health Concerns

BY: Michael D. Reif | August 30, 2019

The FTC has opened a probe into e-cigarette maker Juul’s marketing practices, including allegations that the company “used influencers and other marketing to appeal to minors” – WSJ The inquiry only adds to Juul’s federal agency concerns – Bloomberg Saudi Aramco unveiled plans on Thursday for a two-stage IPO that with debut on the Saudi … Continue reading

Financial Daily Dose 8.29.2019 | Top Story: South Korea High Court Could Send Samsung Heir Back to Jail

BY: Michael D. Reif | August 29, 2019

A ruling this morning from South Korea’s top court means that Samsung’s de facto leader, its vice chair and chaebol heir Lee Jae-yong, could be heading back behind bars. The high court found that a lower appeals court “had underestimated the value of the bribes” he provided to former South Korean president Park Geun-hye, jeopardizing … Continue reading

Financial Daily Dose 8.28.2019 | Top Story: British PM to Suspend Parliament in Bid to Push Through Brexit

BY: Michael D. Reif | August 28, 2019

Man-of-the-people PM Boris Johnson is set to as the Queen to suspend parliament for 5 weeks in an attempt to squeeze the time for opposition to the October 31st Brexit deadline, a move that’s prompting concerns about a constitutional crisis in the UK – Bloomberg and NYTimes and WSJ and MarketWatch Mega-reunification news late yesterday, … Continue reading

Financial Daily Dose 8.26.2019 | Top Story: Amgen to Pay More Than $13 Billion for Otezla

BY: Michael D. Reif | August 26, 2019

Amgen will pay $13.4 billion in cash to buy psoriasis treatment Otezla, a deal that will “pave the way for Bristol-Myers Squibb to complete its acquisition of Celgene” by addressing “regulatory concerns over their union” – WSJ Fed Chair Powell seemed to hit just about all the right notes in Jackson Hole on Friday (with … Continue reading