Tag Archives: cryptocurrency

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 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

Financial Daily Dose 8.13.2019 | Top Story: Global Volatility Sends Bonds Yields to Near-Record Lows

BY: Michael D. Reif | August 13, 2019

A volatile August on Wall Street has insiders asking whether we should be taking our cues from 1998 or 2007 – NYTimes With that in mind, our financial term of the week is “countercyclical capital buffer,” a wonkish special for you econ diehards out there that’s a potential new tool for the Fed that would … Continue reading

Financial Daily Dose 7.29.2019 | Top Story: Pfizer and Mylan Join Forces to Create Generics Powerhouse

BY: Michael D. Reif | July 29, 2019

Drug giants Pfizer and Mylan have inked a deal that will merge the former’s off-patent drugs with the latter’s generics business, a tie-up that creates a mammoth global seller of lower-priced medicines – WSJ and Bloomberg and NYTimes Friday’s GDP report showed US economic growth slowing to 2.1% in Q2, as higher consumer spending helped … Continue reading

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 7.17.2019 | Top Story: EU Antitrust Regulators Probing Amazon Third-Party Seller Data Collection

BY: Michael D. Reif | July 17, 2019

EU regulators announced today that they’ve been conducting an investigation into Amazon and “how it collects and uses data from third-party sellers who appear on the retailing giant’s website” with an eye to potential antitrust violations. Amazon requires the sellers to share certain information with it, and the probe will center on “how Amazon uses … Continue reading

Financial Daily Dose 7.16.2019 | Top Story: Regulators Raise National Security Concerns About Facebook’s Libra Crypto

BY: Michael D. Reif | July 16, 2019

Treasury Secretary Steven Mnuchin is the latest prominent government official to express concerns about Facebook’s coming Libra launch. Speaking at a briefing yesterday, Mnuchin focused on national security issues related to the planned cryptocurrency – WSJ and Bloomberg and Law360 Facebook will have a chance to address those (and many other) matters during Senate Banking … 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