Tag Archives: SEC

Financial Daily Dose 7.16.2019 | Top Story: Regulators Raise National Security Concerns About Facebook’s Libra Crypto

BY: Michael D. Reif | July 16, 2019

Treasury Secretary Steven Mnuchin is the latest prominent government official to express concerns about Facebook’s coming Libra launch. Speaking at a briefing yesterday, Mnuchin focused on national security issues related to the planned cryptocurrency – WSJ and Bloomberg and Law360 Facebook will have a chance to address those (and many other) matters during Senate Banking … Continue reading

Financial Daily Dose 7.11.2019 | Top Story: Fed Chair Primes Markets for July Rate Cut

BY: Michael D. Reif | July 11, 2019

The big takeaway from Day 1 of Fed Chair Powell’s Congressional testimony is that a July rate cut is still definitely on the table, despite last week’s strong US jobs numbers.  As the Times puts it, “That the Fed is considering a rate cut a moment when the United States economy is strong and job … Continue reading

Financial Daily Dose 7.9.2019 | Top Story: Deutsche Bank Cuts 18,000 Jobs Globally

BY: Michael D. Reif | July 9, 2019

Lots more details on what turned out to be something of a bloodbath for Deutsche Bank employees around the world, with the bank starting to make good yesterday on its plans to cut nearly 18,000 employees worldwide – NYTimes and WSJ and Bloomberg and Marketplace and Law360 All of which is really a Deutsche Bank … Continue reading

Financial Daily Dose 7.2.2019 | Top Story: OPEC Nations Cut Production into 2020

BY: Michael D. Reif | July 2, 2019

OPEC nations met yesterday and agreed to continue their production cutting goals into 2020 in an effort to, according to the experts, “prop[] up prices while demand for oil is weakening” – NYTimes and Bloomberg Beverage giant AB InBev is launching a massive Hong Kong-based IPO for its Asia Pacific beer unit that’s expected to … Continue reading

Financial Daily Dose 6.28.2019 | Top Story: Ford Announces Job Cuts in Europe

BY: Michael D. Reif | June 28, 2019

Ford announced major cuts to its European workforce yesterday, announcing that it would reduce its overall headcount there by 1/5 (or about 12,000 workers), roughly half of whom are salaried employees. Ford first revealed the cuts in broad strokes earlier this year – NYTimes and WSJ Nissan has unveiled a recall of nearly half a … Continue reading

ESG Investor Walden Scores Win on CorVel Shareholder Proposal Re LGBTQ Rights

BY: Lisa Coyle | June 18, 2019

On June 5, 2019, the Securities and Exchange Commission (SEC) declined to issue a no-action letter to CorVel Corporation with respect to CorVel’s intention to exclude from its proxy materials a shareholder proposal regarding the company’s omission of the words “sexual orientation” and “gender identity” from its written non-discrimination policy.  The proposal had been submitted … Continue reading

Financial Daily Dose 6.14.2019 | Top Story: Oil prices shoot up after attacks on tankers

BY: Michael D. Reif | June 14, 2019

In case you haven’t had your eye on matters of global intrigue of late, figured we’d get you a bit caught up so that you know why your gas prices are heading north in the next couple of weeks – MarketWatch and NYTimes Facebook has recruited a stable of major backers—including Visa, Mastercard, PayPal, and … Continue reading

Financial Daily Dose 6.6.2019 | Top Story: FiatChrysler Withdraws Offer to Merge With Renault

BY: Michael D. Reif | June 6, 2019

Well, that was short lived.  FiatChrysler broke news late yesterday that it’s withdrawing its offer to merge with France’s Renault, mere weeks after the companies bowled over the auto world with the proposal. Fiat blamed the French government for taking too long to support the deal, though it appears Nissan also played a role in … Continue reading

Financial Daily Dose 6.5.2019 | Top Story: SEC Votes Today on New Broker Conduct Standards

BY: Michael D. Reif | June 5, 2019

The SEC will vote today on what it’s calling Regulation Best Interest, “which says brokers can’t put their own paychecks ahead of a customer’s needs”—the more-industry-acceptable revision of an Obama-era fiduciary duty rule for advisors that has since died a slow death. Still left unclear under the new plan, however, is “whether it would disrupt … Continue reading

Financial Daily Dose 5.24.2019 | Top Story: White House plans $16 billion in farm aid amidst ongoing trade war

BY: Michael D. Reif | May 24, 2019

The US’s ongoing trade war with China—which just isn’t going away any time soon—has prompted the White House to propose a new “$16 billion bailout for farmers hurt by Beijing’s tariffs.” At the same time, leaders from both countries appeared intent on preparing for the long haul – NYTimes and WSJ and Bloomberg Federal prosecutors … Continue reading