Tag Archives: Facebook

Your Daily Dose of Financial News

BY: Michael D. Reif | May 2, 2019

We were pretty sure that the Fed would keep interest rates steady as it wrapped its Open Market Committee meetings yesterday, and Fed Chair Powell delivered on that expectation. He also admitted that the same lack of inflation that bedeviled the Yellen-helmed Fed is still an issue for the central bank [all while assuring markets … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | May 1, 2019

Zuck and Co. are launching a major platform redesign as Facebook attempts to move beyond years of privacy-related scandals and promote group-based communications rather than the public-square newsfeed – NYTimes and WSJ and MarketWatch and Bloomberg The latest on the White House’s Fed Board pick Stephen Moore’s chances to join the central bank, a less-than-certain … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | April 26, 2019

More fun for Facebook, just a day after it revealed a coming FTC fine, with the news on Thursday that Canadian privacy commissioners “violated national and local laws in allowing third parties access to private user information through ‘superficial and ineffective safeguards and consent mechanisms’” – NYTimes and WSJ And the Canadians aren’t alone – … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | April 25, 2019

Facebook revealed on Wednesday that it’s expecting a one-time $3 to 5 billion FTC fine over privacy violations, an amount that would be a “record penalty for a technology company by the agency.” In preparation, Zuck & co. have set aside $3 billion for the charge while announcing north of $15 billion in Q1 revenue … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | April 23, 2019

Aaaand, we’re back at it.  Let’s get caught up. Samsung announced yesterday that it’s postponing the official mass-market introduction of its new foldable smart phone (originally set for the end of the week) based on reports that the pricey device has been malfunctioning – NYTimes and WSJ and Bloomberg and MarketWatch Controversial pick Herman Cain … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | April 4, 2019

Not shockingly, the White House’s recent insistence on keeping tariffs in place on China (to ensure deal compliance) is proving to be a major stumbling block in negotiations on a grand trade deal between the US and China. We’ll be keeping an eye on that dynamic as China’s Vice Premier Lui heads to the White … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 29, 2019

Wells Fargo CEO Timothy Sloan is out after a rocky two-plus-year tenure in arguably the hottest seats in finance over the past several years. He’ll be replaced on an interim basis by Wells’ GC C. Allen Parker – Law360 and Bloomberg and NYTimes and WSJ The US Department of Housing and Urban Development has announced … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 22, 2019

Facebook revealed yesterday that “millions of user account passwords had been stored insecurely, potentially allowing employees to gain access to people’s accounts without their knowledge.” The company said it “had found no evidence of abuse,” but the news was yet another setback for a company beset by privacy problems in recent weeks – NYTimes and … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 15, 2019

Just days after Facebook announced its shift to more private communications, the company’s chief product officer (and longtime Zuck inner-circler) Chris Cox and WhatsApp head Chris Daniels are both heading out the door, adding uncertainty to an already troublesome week for the social media giant – NYTimes and WSJ and Bloomberg and MarketWatch China’s gradual … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 14, 2019

With new data pointing to similarities between the Lion Air and Ethiopian Air Boeing 737 Max 8 crashes, the White House has decided to override the FAA and ground all models of the plane in the US – NYTimes and WSJ and Bloomberg and MarketWatch Federal prosecutors are reportedly conducting multiple probes into “data deals … Continue reading