Tag Archives: JPMorgan

Financial Daily Dose 3.18.2020 | Top Story: Markets Gain on Stimulus Promise as Volatility Rules

BY: Michael D. Reif | March 18, 2020

Volatility’s the name of the game these days on Wall Street. So what was down on Monday was up (a bit, at least) yesterday, although the basics of the situation haven’t improved at all – NYTimes and WSJ and Bloomberg A good chunk of that upswing likely came from moves by the White House and … Continue reading

Financial Daily Dose 3.6.2020 | Top Story: Volatility Reigns as Stocks Dive Over Continued COVID-19 Fears

BY: Michael D. Reif | March 6, 2020

Volatility’s the name of the game again, folks, and we have COVID-19 to thank. Just a day after markets jumped in response to central bank and Super Tuesday news, the dove again some 3% as virus-related fears took hold again – NYTimes and WSJ and Bloomberg and MarketWatch Soooooo . . . . who’s excited … Continue reading

Financial Daily Dose 1.14.2020 | Top Story: Amazon Hit with Antitrust Case by India’s Government

BY: Juvian Hernandez | January 14, 2020

BlackRock Inc. will sell out of all companies “that get more than 25% of sales from thermal coal.” This threshold, however, won’t affect larger, diversified miners—which includes some of the biggest coal shippers. – Bloomberg and NYTimes MGM Resorts International agreed to sell the MGM Grand and Mandalay Bay and casinos to Blackstone Group Inc. Blackstone would own … Continue reading

Financial Daily Dose 12.12.2019 | Top Story: Fed Holds Rates Steady And Looks to Stay There

BY: Michael D. Reif | December 12, 2019

As expected, the Fed kept interest rates unchanged on Wednesday while also signaling that “they would wait to see how the economy fared before making another move” – NYTimes and WSJ and Bloomberg and MarketWatch Aramco shares surged upon hitting markets on Wednesday, but “the stock offering fell short of the royal family’s goal of … Continue reading

Financial Daily Dose 11.21.2019 | Top Story: UAW President Resigns After GM Accuses Fiat Chrysler of Bribery

BY: Michael D. Reif | November 21, 2019

More than a bit of drama in the auto world yesterday, with General Motors suing rival Fiat Chrysler, accusing it of “bribing United Auto Workers officials to gain competitive advantages in contract negotiations.”  The UAW’s president resigned within hours of GM’s filing – NYTimes and WSJ and Bloomberg and MarketWatch and Law360 The latest from … Continue reading

Financial Daily Dose 11.18.2019 | Top Story: Aramco Seeks Valuation of $1.7T, Well below Original Goal

BY: Michael D. Reif | November 18, 2019

Saudi Aramco’s slow trickle of IPO-related information continued this weekend, including its goal of setting overall company market value at a staggering $1.7 trillion. The figure, though massive, is still well short of the $2 trillion valuation originally floated by MBS – NYTimes and WSJ and Bloomberg As the 737 Max grounding heads into its … Continue reading

Financial Daily Dose 10.29.2019 | Top Story: AT&T Reaches Accord with Elliott Management to End Activist Challenge

BY: Michael D. Reif | October 29, 2019

AT&T announced yesterday that it’s resolved an ongoing battle with activist Paul Singer and his Elliott Management by agreeing to keep CEO Randall Stephenson on the job through “at least 2020,” with the chair and CEO roles to be split upon his departure. AT&T also revealed that it will shed up to $10 billion of … Continue reading

Financial Daily Dose 10.14.2019 | Top Story: WeWork Board Weighing Bailout Options from SoftBank and JPMorgan

BY: Michael D. Reif | October 14, 2019

We Work’s largest investor, SoftBank, is reportedly sketching out plans in which it would drop billions of additional money on the company in return for giving Masa Son control of WeWork “and further sidelin[ing] its founder Adam Neumann.” WeWork’s board is also considering a JPMorgan option, hoping that the bank could help it raise billions … 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 9.18.2019 | 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