Tag Archives: Goldman Sachs

Financial Daily Dose 11.11.2019 | Top Story: Twitter Screed Prompts Investigation of Apple Card Gender Discrimination

BY: Michael D. Reif | November 11, 2019

Here’s about as 2019 as we can get in the financial world (with a healthy dose of 1950s-era gender discrimination for good measure): a series of tweets from tech entrepreneur David Heinemeier Hansson alleging gender discrimination “in the new Apple Card’s algorithms when determining credit limits” has prompted attention from New York’s financial watchdog, which … Continue reading

Financial Daily Dose 10.21.2019 | Top Story: Four Drug Companies Reach Last-minute Deal to Avoid Start of Federal Opioid Trial

BY: Michael D. Reif | October 21, 2019

A last-minute deal between defendants McKesson, Cardinal Health, AmerisourceBergen, and Teva and plaintiffs’ attorneys means that multidistrict opioid epidemic litigation set to kick off in Ohio federal court today will not feature them, though Walgreens could still see the courtroom today – WSJ In today’s “Don’t count your departures from coalitions of states before they … Continue reading

Financial Daily Dose 8.9.2019 | Top Story: Uber posts massive Q2 losses and slowing growth

BY: Michael D. Reif | August 9, 2019

Uber went big on Thursday. Unfortunately, for everyone (including fans of cinnamon gum and oversized gingers) it was Big Red, as the ride-hailing company posted a $5.2 billion loss for Q2—its largest ever since it began disclosing financials in 2017 – NYTimes and WSJ and Bloomberg and MarketWatch Tech behemoths weren’t the only ones having … Continue reading

Financial Daily Dose 6.11.2019 | Top Story: Opioid Maker Insys Files for Chapter 11 Protection

BY: Michael D. Reif | June 11, 2019

Opioid manufacturer Insys Therapeutics, which just last week agreed to pay $225 million to “settle a federal investigation into the marketing practices for its powerful fentanyl painkiller,” has filed for bankruptcy protection, announcing that it will continue operating while putting together a plan to pay its creditors – NYTimes and WSJ and Law360 More details … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | December 17, 2018

The Dow’s serious dive on Friday helped put all three major indices into correction territory (aka, all are now at least 10% below their peak from earlier this year) – WSJ and MarketWatch Which means that investors are desperate for a Santa Claus rally, even as coal for everyone in every sector seems more likely. … Continue reading

Your daily dose of financial industry news

BY: Michael D. Reif | September 22, 2015

Details are continuing to emerge about the size, scope, and audacity of Volkswagen’s diesel-engine cheating software scandal.  The German automaker issued a  “de facto profit warning” due to the $7.3 billion it’s setting aside to address issues related to the 11 million cars worldwide impacted by its deception – NYTimes and WSJ Breakingviews sees parallels … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | August 11, 2015

Rocked by a stock market crash and an economic slowdown, China has devalued its currency, the renminbi, by nearly 2% against the dollar in a move expected to heighten geopolitical tensions and disrupt markets – NYTimes and WSJ and Bloomberg A little martes intrigue in the ongoing Argentina debt scandal, with the 2d Circuit slapping … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | August 4, 2015

Puerto Rico’s officially gone down the old Greek road, defaulting on a $58 million bond payment that represents just a fraction of its current  $72 billion debt load. Unlike Greece, the Times notes, many of Puerto Rico’s bonds are part of everyday investors’ mutual funds’ portfolios, making this debt crisis real in a very different … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | August 3, 2015

In what’s being described as another [painful] step towards financial normalcy, the Athens stock exchange reopened today for the first time in 5 weeks. Despite restrictions on short selling, shares were down more than 20% in early trading – NYTimes and WSJ Though the parties have yet to officially comment, Goldman Sachs has reportedly reached … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | July 16, 2015

Despite protests and some intraparty defections (looking at you, Yanis), the Greek Parliament easily passed new austerity measures required to secure their bailout package – NYTimes  The rest of the eurozone is expected to approve the package as well – WSJ Meanwhile, the ECB is considering further loans to struggling Greek banks, which have been … Continue reading