Tag Archives: FDIC

Financial Daily Dose 5.19.2020 | Top Story: US Markets Surge on Hopes for Covid-19 Vaccine

BY: Michael D. Reif | May 19, 2020

Optimism over promising results for a coronavirus vaccine from Moderna helped drive stocks up on Monday after a rough go of it last week – WSJ and NYTimes and Bloomberg and MarketWatch Inside sources suggest that the DOJ is preparing to file “antitrust charges against Google as early as this summer . . . in … Continue reading

Financial Daily Dose 3.13.2020 | Top Story: COVID-19 Fears Push Wall Street to Worst Losses Since Black Monday

BY: Michael D. Reif | March 13, 2020

It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial Average since Black Monday in 1987. The Dow lost 10%, … Continue reading

Financial Daily Dose 2.11.2020 | Top Story: DOJ Indicts Four from Chinese Army Over 2017 Equifax Cyberattack

BY: Michael D. Reif | February 11, 2020

The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million Americans.”  The indictment places the Equifax episode in a broader scheme by the Chinese army and intelligence services to steal data … Continue reading

Financial Daily Dose 1.30.2020 | Top Story: Facebook Pays $550 Million to Resolve Privacy Class Action Over Use of Facial Recognition Tech

BY: Michael D. Reif | January 30, 2020

Facebook has agreed to pay $550 million to resolve a class-action lawsuit claiming that Zuck & Co.’s use of facial recognition technology violated Illinois’ biometric privacy law. Though the settlement is little more than “a rounding error for Facebook, which reported that revenue rose 25 percent to $21 billion in the fourth quarter,” it’s still … Continue reading

Financial Daily Dose 1.9.2020 | Top Story: “Highlights” from Carlos Ghosn’s Accusatory Press Conference

BY: Michael D. Reif | January 9, 2020

A recap of Carlos Ghosn’s big media moment on Wednesday, which was short on the escape details everyone wanted to hear and long on accusations against other execs at Nissan and Japan’s justice system – NYTimes and WSJ and Bloomberg and MarketWatch The Journal’s reporting that food-delivery company Grubhub, which went public nearly 6 years … Continue reading

Financial Daily Dose 12.16.2019 | Top Story: Boeing Execs Mull Halting 737 Max Production as FAA Clearance Stalls

BY: Juvian Hernandez | December 16, 2019

Boeing’s 737 MAX faces an uncertain future. Boeing is considering at least a temporary halt to its 737 Max production “as regulatory clearance for the grounded jet’s return looks increasingly likely to slip beyond January 2020.” Boeing has already cut production by some 20% on the plane since the second of two fatal crashes, and … Continue reading

Financial Daily Dose 9.19.2019 | Top Story: Fed Cuts Rates Another Quarter percent

BY: Michael D. Reif | September 19, 2019

As pretty much expected, the Federal Reserve cut interest rates a quarter point again yesterday, its second cut since late July. Fed Chair Powell also indicated in remarks after the FOMC broke that a “‘more extensive’ series of rate cuts would be appropriate,” though, for now, “a growing number of Fed officials expect just one … 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 8.20.2019 | Top Story: Top Execs Signal Shift in Corporate Priorities Beyond Just Shareholder Gain

BY: Michael D. Reif | August 20, 2019

A survey of the country’s most powerful CEOs by the Business Roundtable shows an interesting shift in how they view their top priority—no longer does advancing the interests of shareholders take the top spot. Instead, the leaders identified investing in employees, delivering value to customers, and dealing “fairly and ethically with their suppliers” as primary … 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