Tag Archives: Tariffs

Financial Daily Dose 9.13.2019 | Top Story: ECB Cuts Rates and Restarts QE in Effort to Preempt European Downturn

BY: Michael D. Reif | September 13, 2019

The ECB was even more aggressive than expected in its moves to “head off a downturn before it gained momentum,” cutting a key interest rate and reviving “a money-printing program.” At the same time, the central bank “issued an unusually strong call for eurozone governments to do more of the economic heavy lifting” – NYTimes … Continue reading

Financial Daily Dose 8.14.2019 | Top Story: U.S. Backs Off New Tariffs on China Until December

BY: Michael D. Reif | August 14, 2019

In the internal battle between keeping China off balance and keeping Wall Street happy, the White House has decided once again to focus on the latter, walking back the latest tariff escalation by postponing promised enforcement until mid-December, a move that Wall Street considered “Christmas-saving” and rewarded with a surge in trading – NYTimes and … Continue reading

Financial Daily Dose 8.5.2019 | Top Story: HSBC Ousts CEO After 18 Months and Cuts 4,000 Jobs

BY: Michael D. Reif | August 5, 2019

HSBC chief John Flint is out just 18 months after he assumed the role as head of the London-based bank, likely due to clashes with Board Chair Mark Tucker and the lender’s focus on expanding in China. HSBC also announced it will shed 4,000 jobs in an effort to improve finances – Bloomberg and NYTimes … Continue reading

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 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 6.11.2019 | 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

Financial Daily Dose 6.10.2019 | Top Story: U.S. Reverses Course on Tariffs Set to Hit Mexican Goods Today

BY: Michael D. Reif | June 10, 2019

The White House announced on Friday that the US and Mexico reached a deal that it deemed sufficient to keep from levying the threatened 5% tariffs on Mexican goods that was set to take effect today. As details of that deal have emerged, however, officials familiar with the negotiations are raising questions about what, exactly, … Continue reading

Financial Daily Dose 6.7.2019 | Top Story: Markets Keep Eye on US Jobs Report

BY: Michael D. Reif | June 7, 2019

Jobs Report Friday again! Lots to look for in the numbers this month, especially considering the economic uncertainty that’s defined the past few weeks – WSJ and Bloomberg and NYTimes Wells Fargo will fork over $385 million to resolve force-placed insurance allegations from customers who have accused the bank of signing them up for auto … 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