Tag Archives: China

Financial Daily Dose 7.18.2019 | Top Story: Netflix Loses U.S. Streaming Subscribers For First Time

BY: Michael D. Reif | July 18, 2019

Netflix has been priming markets for bad news, and it delivered on Wednesday, reporting the loss of 126,000 paid U.S. subscribers in Q2—the company’s first domestic decrease since it started its streaming service 12 years ago. The drops coincided with Netflix’s March rate hike, in which it raised rates 13-18% – NYTimes and WSJ and … Continue reading

Financial Daily Dose 7.15.2019 | Top Story: FTC Fines Facebook $5 billion Over Privacy Violations

BY: Michael D. Reif | July 15, 2019

Late Friday, the Federal Trade Commission hit Facebook with a $5 billion fine for the social media company’s range of privacy violations over the past few years – NYTimes and Wired and WSJ and Bloomberg The amount is massive, yet the sheer size and power of Facebook is enough that the general consensus is that … Continue reading

Financial Daily Dose 7.11.2019 | Top Story: Fed Chair Primes Markets for July Rate Cut

BY: Michael D. Reif | July 11, 2019

The big takeaway from Day 1 of Fed Chair Powell’s Congressional testimony is that a July rate cut is still definitely on the table, despite last week’s strong US jobs numbers.  As the Times puts it, “That the Fed is considering a rate cut a moment when the United States economy is strong and job … Continue reading

Financial Daily Dose 7.10.2019 | Top Story: US Softens Some Huawei Restrictions

BY: Michael D. Reif | July 10, 2019

Commerce Secretary Wilbur Ross announced yesterday that the US will, mere weeks after blacklisting Huawei altogether, allow some American companies to keep doing business with the Chinese telecom company. The reversal appears to be part of the White House’s move to restart trade talks with China – NYTimes and WSJ and Law360 More on what … Continue reading

Financial Daily Dose 7.9.2019 | Top Story: Deutsche Bank Cuts 18,000 Jobs Globally

BY: Michael D. Reif | July 9, 2019

Lots more details on what turned out to be something of a bloodbath for Deutsche Bank employees around the world, with the bank starting to make good yesterday on its plans to cut nearly 18,000 employees worldwide – NYTimes and WSJ and Bloomberg and Marketplace and Law360 All of which is really a Deutsche Bank … Continue reading

Financial Daily Dose 7.8.2019 | Top Story: Friday’s Solid Jobs Report Prompts Rate-Cut Concerns

BY: Michael D. Reif | July 8, 2019

We managed to miss Jobs Report Friday because of the holiday break, so here’s the lowdown on a very strong set of numbers—224,000 jobs added—and the seemingly incongruous market reaction to the good news (it’s all about the Fed and interest rates, my friends) – NYTimes and WSJ and Bloomberg and MarketWatch and Marketplace Turkey’s … Continue reading

Financial Daily Dose 7.3.2019 | Top Story: IMF Chief Lagarde to Succeed Draghi as ECB President

BY: Michael D. Reif | July 3, 2019

Big Euro (and global) financial news emerging on Tuesday, as European officials rather surprisingly nominated current IMF chief Christine Lagarde to succeed Mario Draghi as European Central Bank president – NYTimes and WSJ and Bloomberg Across the ocean, the White House formally chose Judy Shelton, the current US executive director of the European bank of … Continue reading

Financial Daily Dose 7.2.2019 | Top Story: OPEC Nations Cut Production into 2020

BY: Michael D. Reif | July 2, 2019

OPEC nations met yesterday and agreed to continue their production cutting goals into 2020 in an effort to, according to the experts, “prop[] up prices while demand for oil is weakening” – NYTimes and Bloomberg Beverage giant AB InBev is launching a massive Hong Kong-based IPO for its Asia Pacific beer unit that’s expected to … Continue reading

Financial Daily Dose 7.1.2019 | Top Story: US and China Pledge to Resume Trade Talks

BY: Michael D. Reif | July 1, 2019

The US and China agreed to resume trade talks after a  7-week hiatus, “averting for now an escalation of their multibillion-dollar tariff war that has roiled global markets and threatened the future of the world’s two largest economies.” An easing of the White House’s Huawei restrictions and China’s agreement to “buy a ‘tremendous amount’ of … Continue reading

Financial Daily Dose 6.27.2019 | Top Story: DOJ Criminal Inquiry Into Chicken Industry Price Fixing

BY: Michael D. Reif | June 27, 2019

The DOJ has jumped on board claims made in existing civil class-action lawsuits and is considering criminal price-fixing charges against “some of the biggest American poultry companies, including Tyson Foods and Pilgrim’s Pride” based on allegation that Big Chicken “conspired to manipulate chicken prices” – NYTimes and Law360 Despite reportedly holding off on promised tariffs … Continue reading