Tag Archives: DOJ

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 7.9.2019 | 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 7.1.2019 | 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

Financial Daily Dose 6.26.2019 | Top Story: US Tech Firms Find Ways to Resume Sales to Huawei

BY: Michael D. Reif | June 26, 2019

Some U.S. tech firms are finding ways to get around the White House’s Huawei no fly zone, with Micron, Qualcomm, and Intel leading the way – Bloomberg and NYTimes and WSJ Meanwhile, a more cautious Chinese consumer appears to be weakening President Xi’s hand as he prepares to talk trade with the U.S. on the … Continue reading

Financial Daily Dose 6.25.2019 | Top Story: Allergan and AbbVie Combine Forces in $63 Billion Deal

BY: Michael D. Reif | June 25, 2019

Massive pharma news to start the day, with AbbVie announcing that it’s reached a deal to buy Allergan for roughly $63 billion. The tie-up is seen as giving AbbVie a “dominant position in the $8 billion-plus market for Botox and other beauty drugs” is it “braces for the end of patent protection for the world’s … Continue reading

Financial Daily Dose 6.6.2019 | Top Story: FiatChrysler Withdraws Offer to Merge With Renault

BY: Michael D. Reif | June 6, 2019

Well, that was short lived.  FiatChrysler broke news late yesterday that it’s withdrawing its offer to merge with France’s Renault, mere weeks after the companies bowled over the auto world with the proposal. Fiat blamed the French government for taking too long to support the deal, though it appears Nissan also played a role in … Continue reading

Financial Daily Dose 6.4.2019 | Top Story: DOJ, FTC, and Congress Set to Investigate Big Tech

BY: Michael D. Reif | June 4, 2019

Much more on the suddenly hot topic of Big Tech antitrust oversight, including a negotiated agreement among regulators that will see the DOJ handling Apple and Google while the Federal Trade Commission will take on Facebook and Amazon. Separately, the House Judiciary Committee is taking up its own probe of the tech industry giants – … Continue reading

Financial Daily Dose 6.3.2019 | Top Story: DOJ Mulling Google Antitrust Action

BY: Michael D. Reif | June 3, 2019

The DOJ is considering joining its European counterparts in targeting Google for potential antitrust violations focused on Google’s “advertising practices and influence in the online advertising industry,” possibly including the company’s search practices – NYTimes and  WSJ and Bloomberg Such a probe would be consistent with a marked shift in Washington’s thoughts on Big Tech—from … Continue reading

Financial Daily Dose 5.21.2019 | Top Story: FCC Approves T-Mobile/Sprint Merger

BY: Michael D. Reif | May 21, 2019

FCC Chair Ajit Pai gave his agency’s stamp of approval to the pending $26 billion T-Mobile/Sprint merger on Monday, helping move the deal towards completion based on pledges from the companies to develop “a robust 5G network and sell off Boost Mobile, a Sprint-owned service produce that sells prepaid services” – NYTimes and WSJ and … Continue reading