Tag Archives: trade talks

Financial Daily Dose 8.1.2019 | Top Story: Fed Cuts Rates for First Time Since 2008

BY: Michael D. Reif | August 1, 2019

The Fed delivered on its expected quarter-point rate cut yesterday, the first decrease in short term rates since 2008. Fed Chair Powell cited “the implications of global developments for the economic outlook as well as muted inflation pressures” as reasons for the move, though by not promising a “rate-cutting campaign,” Powell gave markets plenty of … Continue reading

Financial Daily Dose 7.31.2019 | Top Story: Fed Likely to Cut Interest Rates

BY: Michael D. Reif | July 31, 2019

At this point, pretty much everyone on Wall Street is expecting the Fed to cut interest rates as its FOMC meeting breaks later today. Some thoughts on what’s likely to happen and how the Street could react to the news – MarketWatch and NYTimes and WSJ and Bloomberg Even as trade talks between the US … Continue reading

Financial Daily Dose 7.30.2019 | Top Story: Capital One Reveals Data Breach Affecting 106 Million

BY: Michael D. Reif | July 30, 2019

Financial giant Capital One, the fifth-largest credit card issuer in the U.S., announced on Monday that a hacker illegally accessed “the personal information of approximately 106 million card customers and applicants, one of the largest ever data breaches of a big bank.” CapOne’s unfortunate reveal coincided with the arrest of the alleged hacker, a former … Continue reading

Financial Daily Dose 7.24.2019 | Top Story: DOJ Launches Big Tech Antitrust Probe

BY: Michael D. Reif | July 24, 2019

The announcement itself isn’t a shock, but given the potential players, it’s headline-worthy anyway: the DOJ announced yesterday that it’s officially opening an antitrust probe into Big Tech companies and “whether they had acted to reduce competition” as they amassed market power – NYTimes and WSJ and Bloomberg and MarketWatch US regulators are likely to … Continue reading

Financial Daily Dose 7.22.2019 | Top Story: Equifax Nears $700 million Settlement Over Privacy Breach

BY: Michael D. Reif | July 22, 2019

Credit bureau Equifax is closing in on an agreement with federal and state authorities in which it would pay $650-700 million to resolve claims related to the massive breach it revealed in September 2017 that exposed personal data of more than 145 million people – NYTimes and WSJ and MarketWatch A recent reported dip in … Continue reading

Financial Daily Dose 7.18.2019 | Top Story: Netflix Loses U.S. Streaming Subscribers For First Time

BY: Michael D. Reif | July 18, 2019

Netflix has been priming markets for bad news, and it delivered on Wednesday, reporting the loss of 126,000 paid U.S. subscribers in Q2—the company’s first domestic decrease since it started its streaming service 12 years ago. The drops coincided with Netflix’s March rate hike, in which it raised rates 13-18% – NYTimes and WSJ and … 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 7.10.2019 | Top Story: US Softens Some Huawei Restrictions

BY: Michael D. Reif | July 10, 2019

Commerce Secretary Wilbur Ross announced yesterday that the US will, mere weeks after blacklisting Huawei altogether, allow some American companies to keep doing business with the Chinese telecom company. The reversal appears to be part of the White House’s move to restart trade talks with China – NYTimes and WSJ and Law360 More on what … 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 7.1.2019 | Top Story: US and China Pledge to Resume Trade Talks

BY: Michael D. Reif | July 1, 2019

The US and China agreed to resume trade talks after a  7-week hiatus, “averting for now an escalation of their multibillion-dollar tariff war that has roiled global markets and threatened the future of the world’s two largest economies.” An easing of the White House’s Huawei restrictions and China’s agreement to “buy a ‘tremendous amount’ of … Continue reading