Tag Archives: IPO

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 11.05.2019 | Top Story: Uber Posts Billion-dollar Q3 Losses But Improved Revenue

BY: Michael D. Reif | November 5, 2019

Uber reported another quarter of billion+ dollar losses, but as so many things on Wall Street & Silicon Valley tend to go, the news wasn’t all bad because those numbers were far better than the $5.2 billion it lost in Q2. Throw in a 30% revenue increase, and it was something of a solid day … Continue reading

Financial Daily Dose 10.18.2019 | Top Story: Unpacking the UK/EU Brexit Deal and Its Rocky Road Ahead in Parliament

BY: Michael D. Reif | October 18, 2019

Details are trickling in on the tentative Brexit agreement reached between UK and EU negotiators this week, just 14 days ahead of the Halloween departure deadline.  A massive sticking point here remains the British parliament, in which PM Johnson does not, at this time, have the votes he needs to guarantee approval – NYTimes and … Continue reading

Financial Daily Dose 10.11.2019 | Top Story: France’s Renault Cans CEO Over Ties to ex-Nissan Chief Carlos Ghosn

BY: Michael D. Reif | October 11, 2019

Because the Nissan leadership scandal is about as well-contained as Chernobyl in the early days [thanks, HBO], French automaker Renault has voted this morning to remove Chief Executive Thierry Bolloré amid concerns over the car maker’s performance and Bolloré’s close ties to former Nissan chair Carlos Ghosn – NYTimes and WSJ and Bloomberg Top leaders … Continue reading

Financial Daily Dose 10.7.2019 | Top Story: Talks Between GM and UAW Falter as Strike Hits Fourth Week

BY: Michael D. Reif | October 7, 2019

Talks between General Motors and the striking UAW broke down yesterday, threatening the progress the two sides “appeared to make in recent days,” a troubling sign as the strike heads into its 4th week – NYTimes and WSJ and Bloomberg Things at Nissan are getting worse—much worse—before getting better in the wake of the Carlos … Continue reading

Financial Daily Dose 9.26.2019 | Top Story: Juul Labs and EBay join WeWork in Replacing CEOs This Week

BY: Michael D. Reif | September 26, 2019

This week’s CEO exodus continues, with Juul Labs CEO Kevin Burns taking a hike in the midst of “public and regulatory outrage over the soaring use of teenage vaping.” Altria exec KC Crosthwaite will replace Burns. Altria, the “major tobacco company that owns a 35 percent stake in Juul,” revealed on this week that it … 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 9.23.2019 | Top Story: WeWork Board Considering Ousting CEO

BY: Michael D. Reif | September 23, 2019

WeWork’s drama in past weeks—which includes a planned and postponed public offering thanks to rough financials and dicey corporate governance—is prompting the company to consider swapping out founder Adam Neumann as CEO to “salvage its troubled initial public offering” – Bloomberg and NYTimes and WSJ Last Friday’s combo of a cancelled farm trip by the … 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