Tag Archives: PGE

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 4.23.2020 | Top Story: PE Firm Sycamore Partners Backs Out of Deal for Victoria’s Secret over COVID-19 Response

BY: Michael D. Reif | April 23, 2020

PE firm Sycamore Partners, which “agreed to buy a majority of Victoria’s Secret from its embattled owner, L Brands, in February,” is looking to back out of the deal “because of the retail chain’s response to the coronavirus pandemic,” including its alleged failure to “essentially conduct business as usual and to refrain from changing ‘any … Continue reading

Financial Daily Dose 3.24.2020 | Top Story: Fed’s “Unlimited” QE Promise Doesn’t Reassure Markets Amid D.C. Deadlock

BY: Michael D. Reif | March 24, 2020

A promise of “unlimited” QE from the Fed Monday morning briefly turned the tides on Dow futures but wasn’t enough to overcome another day of COVID-19-related fears and DC gridlock over the $1.8 trillion stimulus package III that combined to drive markets down still further by day’s end – NYTimes and WSJ and MarketWatch Early … Continue reading

Financial Daily Dose 3.17.2020 | Top Story: The Bear Market Roars, with Markets Falling nearly 13% as Whole Sectors of US Economy Shut Down

BY: Michael D. Reif | March 17, 2020

As Americans [way-too] slowly come to the realization that COVID-19 is a very real and very present threat, the business world is changing around them at a staggering pace. Stocks nosedived again on Monday, with the three major indices in the U.S. charting a drop of between 12-13% in the worst single day since markets … Continue reading

Financial Daily Dose 3.11.2020 | Top Story: New Wells Fargo CEO Scharf Emerges Unscathed After House Testimony

BY: Michael D. Reif | March 11, 2020

Wells Fargo’s latest CEO, Charles Scharf—the bank’s third chief in the past four years—faced a hostile but less pitchfork-and-torch wielding House Financial Services Committee hearing on Tuesday, distancing himself from his predecessors and stressing the bank’s renewed efforts at “appeasing . . . regulators” – NYTimes and WSJ and MarketWatch PepsiCo is closing in on … Continue reading

Financial Daily Dose 2.5.2020 | Top Story: Amazon Joins Trillion-Dollar Market Cap Club

BY: Michael D. Reif | February 5, 2020

Amazon closed out the trading day yesterday as an official member of the $1 trillion club for the first time. Because Jeff really needed a win, folks. The company joins Microsoft, Alphabet, and Apple in that rarified “four-comma club” – Bloomberg and MarketWatch NYSE owner Intercontinental Exchange has submitted a takeover offer for eBay Inc. … Continue reading

Financial Daily Dose 12.18.2019 | Top Story: Fiat Chrysler and Peugeot Boards Agree to $50 Billion Merger

BY: Michael D. Reif | December 18, 2019

Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales” – WSJ and MarketWatch Freshly emboldened by a sizeable win in last week’s general election, UK PM Boris … Continue reading

Financial Daily Dose 12.09.2019 | Top Story: States Begin Trial Today Challenging T-Mobile/Sprint Merger on Antitrust Grounds

BY: Juvian Hernandez | December 9, 2019

Thirteen states and the District of Columbia are suing to block the $26 billion plan to merge T-Mobile US Inc. and Sprint Corp. The trial is slated to begin today with state officials arguing the deal would create “a more staid market with prices higher than they would otherwise be . . . .” – … Continue reading

Financial Daily Dose 12.05.2019 | Top Story: CBS and Viacom Finalize Deal to Reunite Media Empire

BY: Michael D. Reif | December 5, 2019

CBS and Viacom are back together again. The deal to reunite the former partners, which closed late yesterday, was pushed by National Amusements’ chief Shari Redstone since 2016 and hasted along recently by the precipitous fall from grace of CBS’ Les Moonves last year – NYTimes and Bloomberg The OCC has “rebuked” Wells Fargo’s HR … Continue reading

Financial Daily Dose 11.20.2019 | Top Story: Utility PG&E Struggles with Fires and Path Out of Bankruptcy

BY: Michael D. Reif | November 20, 2019

PG&E’s woes continue. Not only is the company still in the midst of a dangerous fire season, but it’s struggling to find a path out of bankruptcy while fending off a growing chorus of cities and state officials “threatening to take over California’s largest utility unless executives improve its safety record” – NYTimes and WSJ … Continue reading