Tag Archives: cryptocurrency

Financial Daily Dose 11.13.2019 | Top Story: Buffeted by Changing Consumer Demands, Dean Foods Declares Bankruptcy

BY: Michael D. Reif | November 13, 2019

Dean Foods, the largest milk company in the U.S., has filed for bankruptcy protection, a “fresh setback to a U.S. dairy industry struggling against declining U.S. milk consumption and rising competition.”  Industry experts have noted that the company’s attempts to streamline in recent years haven’t kept up with declining sales, making yesterday’s announcement close to … Continue reading

Financial Daily Dose 11.05.2019 | Top Story: Uber Posts Billion-dollar Q3 Losses But Improved Revenue

BY: Michael D. Reif | November 5, 2019

Uber reported another quarter of billion+ dollar losses, but as so many things on Wall Street & Silicon Valley tend to go, the news wasn’t all bad because those numbers were far better than the $5.2 billion it lost in Q2. Throw in a 30% revenue increase, and it was something of a solid day … Continue reading

Financial Daily Dose 10.24.2019 | Top Story: Lawmakers Grill Zuckerberg on Libra and Political Ads

BY: Michael D. Reif | October 24, 2019

We didn’t get flop sweat Zuck, but it was still a hot seat indeed for Facebook’s founder and CEO on the Hill yesterday, who fielded a wide range of questions from Libra to political freedom of expression on his platform – NYTimes and WSJ and Bloomberg and MarketWatch and Law360 In an effort to avoid … Continue reading

Financial Daily Dose 10.22.2019 | Top Story: WeWork Bailout Would Cost Company $39 billion in Valuation

BY: Michael D. Reif | October 22, 2019

SoftBank’s plan to help bail out WeWork would mean not only a takeover by Masa Son’s crew but also “would slash the co-working company’s valuation to about $8 billion”—a staggering drop of nearly $40 billion. The plan would alleviate WeWork’s cash crunch via a $5 billion loan and an offer to buy more than $1 … Continue reading

Financial Daily Dose 10.17.2019 | Top Story: GM and UAW Reach Tentative Deal to End Month-long Strike

BY: Michael D. Reif | October 17, 2019

Good news out of Detroit late yesterday, with officials from General Motors and the United Autoworkers Union striking a “tentative agreement on a new labor contract that could end the monthlong strike that has idled G.M. plants across the Midwest and the South.” The UAW’s local officials will meet this morning to vote on whether … Continue reading

Financial Daily Dose 10.14.2019 | Top Story: WeWork Board Weighing Bailout Options from SoftBank and JPMorgan

BY: Michael D. Reif | October 14, 2019

We Work’s largest investor, SoftBank, is reportedly sketching out plans in which it would drop billions of additional money on the company in return for giving Masa Son control of WeWork “and further sidelin[ing] its founder Adam Neumann.” WeWork’s board is also considering a JPMorgan option, hoping that the bank could help it raise billions … Continue reading

Financial Daily Dose 10.11.2019 | Top Story: France’s Renault Cans CEO Over Ties to ex-Nissan Chief Carlos Ghosn

BY: Michael D. Reif | October 11, 2019

Because the Nissan leadership scandal is about as well-contained as Chernobyl in the early days [thanks, HBO], French automaker Renault has voted this morning to remove Chief Executive Thierry Bolloré amid concerns over the car maker’s performance and Bolloré’s close ties to former Nissan chair Carlos Ghosn – NYTimes and WSJ and Bloomberg Top leaders … Continue reading

Financial Daily Dose 10.9.2019 | Top Story: Chair Powell says Fed will Expand its Treasury Securities Holdings

BY: Michael D. Reif | October 9, 2019

Fed Chair Powell, speaking at an economics conference in Denver yesterday, made news by indicating that the central bank would “once again begin expanding its portfolio of government-backed securities”—a shift in policy hastened by recent repo market shortages requiring Fed intervention – NYTimes and WSJ and Bloomberg and MarketWatch and Law360 A Philly jury has … Continue reading

Financial Daily Dose 10.8.2019 | Top Story: US blacklists 28 Chinese Tech Firms Even While Trade Talks Resume

BY: Michael D. Reif | October 8, 2019

The US has blacklisted 28 Chinese companies—mostly in the tech sector—over China’s “campaign targeting Uighurs and other predominantly Muslim minorities in the autonomous region of Xingjiang,” a move that’s drawn both criticism in China and also comes as the U.S. has actively sought to protect US tech giants in its various bilateral trade agreements – … Continue reading

Financial Daily Dose 10.7.2019 | Top Story: Talks Between GM and UAW Falter as Strike Hits Fourth Week

BY: Michael D. Reif | October 7, 2019

Talks between General Motors and the striking UAW broke down yesterday, threatening the progress the two sides “appeared to make in recent days,” a troubling sign as the strike heads into its 4th week – NYTimes and WSJ and Bloomberg Things at Nissan are getting worse—much worse—before getting better in the wake of the Carlos … Continue reading