Tag Archives: DOJ

Financial Daily Dose 11.08.2019 | Top Story: US and China Set to Roll Back Tariffs as Part of Trade Deal First Phase

BY: Michael D. Reif | November 8, 2019

The U.S. and China have tentatively [maybe?] agreed that a first phase of a trade agreement “would roll back a portion of the tariffs placed on each other’s products, a significant step toward defusing tensions between the world’s largest economies.” Though nothing’s signed at this point, the commitment-in-principle “marks the first time the United States … Continue reading

Financial Daily Dose 9.25.2019 | Top Story: WeWork Ousts Co-Founder CEO in Bid to Save IPO

BY: Michael D. Reif | September 25, 2019

Well, that was remarkably quick. Just days after WeWork’s board announced that it was considering replacing co-founder Adam Neumann to help clear a path to the work-share-startup’s initial public offering, Neumann stepped down as CEO—“a stunning fall for the entrepreneur who oversaw the meteoric rise of one of the most valuable start-ups to emerge in … Continue reading

Financial Daily Dose 9.18.2019 | Top Story: Fed Carries Out Rare Market Operation to Steady Rates

BY: Michael D. Reif | September 18, 2019

The Federal Reserve took the rare step yesterday of stepping “into financial markets . . . to keep interest rates from rising above its target, the first time the central bank has had to carry out this type of ‘market operation’ since the global financial crisis.” The NY Fed carried out the maneuver—though not without … Continue reading

Financial Daily Dose 9.17.2019 | Top Story: WeWork to Delay Planned IPO Until at Least October

BY: Michael D. Reif | September 17, 2019

Shared office-space company WeWork, which had committed to moving forward with its planned IPO this week despite recent turmoil, appears likely to postpone the offering until at least October in an effort to shore up its sinking valuation – Bloomberg and NYTimes and WSJ and Barron’s Additional reaction (market and otherwise) to Sunday’s attacks on … Continue reading

Financial Daily Dose 9.11.2019 | Top Story: Hong Kong Stock Exchange Makes Surprise Bid for London Exchange

BY: Michael D. Reif | September 11, 2019

There’s some surprise market wheeling and dealing afoot this morning. The Hong Kong stock exchange has offered to buy its London counterpart as part of a deal valued at $37 billion that would connect “the established financial markets in the West with the emerging financial markets in the East” – NYTimes and WSJ and Bloomberg … Continue reading

Financial Daily Dose 9.9.2019 | Top Story: Fed on Track to Cut Rates Again in September

BY: Michael D. Reif | September 9, 2019

Friday remarks from Fed Chair Powell in Zurich confirmed the central bank’s dedication to keeping the US economic expansion on track and appear to have signaled the Fed’s plan to cut interest rates for a second time this year – NYTimes and WSJ Last week’s jobs numbers don’t appear to significantly alter that plan – … 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 8.22.2019 | Top Story: CBO Projects $1 Trillion Annual US Deficit in 2020

BY: Michael D. Reif | August 22, 2019

The CBO sent shivers down the spines of deficit hawks yesterday with its latest forecast that shows federal cost overruns hitting $1 trillion for fiscal 2020, an increase of more than $100 billion from projections just 3 months ago – NYTimes and WSJ and Bloomberg Not that there’s any definite cause-and-effect at play here, but … Continue reading

Financial Daily Dose 8.6.2019 | Top Story: Market Dive on Worries About Trade War With China

BY: Michael D. Reif | August 6, 2019

Last week’s wild economic ride combined with China’s currency-devaluing response (and, arguably, months more of trade-war-driven global uncertainty) led to the worst day on Wall Street since last December, with the Dow plummeting more than 700 points and major US indices each taking a nearly 3% hit on Monday – NYTimes and WSJ and Bloomberg … Continue reading

Financial Daily Dose 7.26.2019 | Top Story: In a reversal, ECB to revive stimulus measures to boost EU economy

BY: Michael D. Reif | July 26, 2019

The European Central Bank announced on Thursday that is likely to revive the quantitative easing program aimed at “pump[ing] money into the region’s financial system,” a major reversal from just 6 months ago, when the ECB began winding down the bond-buying program – NYTimes and WSJ and Bloomberg McKinsey’s been in hot water with bankruptcy … Continue reading