Tag Archives: Trade War

Financial Daily Dose 8.30.2019 | Top Story: E-cig Company Juul Faces Federal Probes into Marketing and Health Concerns

BY: Michael D. Reif | August 30, 2019

The FTC has opened a probe into e-cigarette maker Juul’s marketing practices, including allegations that the company “used influencers and other marketing to appeal to minors” – WSJ The inquiry only adds to Juul’s federal agency concerns – Bloomberg Saudi Aramco unveiled plans on Thursday for a two-stage IPO that with debut on the Saudi … Continue reading

Financial Daily Dose 8.27.2019 | Top Story: OK Judge Hits Johnson & Johnson With $572 Million Fine in Opioid Trial

BY: Michael D. Reif | August 27, 2019

A bad day for J&J in Oklahoma at the close of the state’s trial against Johnson & Johnson means that the company’s on the hook for upwards of $572 million for its role in the opioid crisis that’s decimated swaths of the state. The trial was the first against an opioid manufacturer and bodes ill … Continue reading

Financial Daily Dose 8.26.2019 | Top Story: Amgen to Pay More Than $13 Billion for Otezla

BY: Michael D. Reif | August 26, 2019

Amgen will pay $13.4 billion in cash to buy psoriasis treatment Otezla, a deal that will “pave the way for Bristol-Myers Squibb to complete its acquisition of Celgene” by addressing “regulatory concerns over their union” – WSJ Fed Chair Powell seemed to hit just about all the right notes in Jackson Hole on Friday (with … Continue reading

Financial Daily Dose 8.21.2019 | Top Story: Fed “Tailoring” to Weaken Big Bank Capital Requirements

BY: Michael D. Reif | August 21, 2019

Beyond the revamped Volcker Rule we discussed yesterday, Federal Reserve officials are “slowly, but steadily,” making a series of regulatory changes likely to weaken “capital requirements installed in the wake of the [2008 financial] crisis to prevent the largest banks from suffering the kind of destabilizing losses that imperiled the United States economy.” Most Fed … Continue reading

Financial Daily Dose 8.20.2019 | Top Story: Top Execs Signal Shift in Corporate Priorities Beyond Just Shareholder Gain

BY: Michael D. Reif | August 20, 2019

A survey of the country’s most powerful CEOs by the Business Roundtable shows an interesting shift in how they view their top priority—no longer does advancing the interests of shareholders take the top spot. Instead, the leaders identified investing in employees, delivering value to customers, and dealing “fairly and ethically with their suppliers” as primary … Continue reading

Financial Daily Dose 8.19.2019 | Top Story: US Weighing Huawei Reprieve to Smooth Trade Talks with China

BY: Michael D. Reif | August 19, 2019

The White House is reportedly extending the temporary license for some US businesses to work with Huawei, a move that would likely help smooth the way for trade negotiators between the US and China to see their way back to the table – WSJ and MarketWatch After last week’s drama, it doesn’t feel like a … Continue reading

Financial Daily Dose 8.16.2019 | Top Story: Cathay Pacific CEO Resigns Amidst Turmoil in Hong Kong

BY: Michael D. Reif | August 16, 2019

Hong Kong-based Cathay Pacific Airways CEO Rupert Hogg has resigned in order to “take responsibility” a week “after the carrier was rebuked by China for staff involvement in the anti-Beijing protests rocking Hong Kong.” Hogg had been on the job for just 2 years – Bloomberg and NYTimes and WSJ and MarketWatch The Labor Department … 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 8.9.2019 | Top Story: Uber posts massive Q2 losses and slowing growth

BY: Michael D. Reif | August 9, 2019

Uber went big on Thursday. Unfortunately, for everyone (including fans of cinnamon gum and oversized gingers) it was Big Red, as the ride-hailing company posted a $5.2 billion loss for Q2—its largest ever since it began disclosing financials in 2017 – NYTimes and WSJ and Bloomberg and MarketWatch Tech behemoths weren’t the only ones having … Continue reading

Financial Daily Dose 8.8.2019 | Top Story: L Brands CEO Claims Epstein Misappropriated “Vast Sums”

BY: Michael D. Reif | August 8, 2019

Les Wexner, the billionaire CEO of Victoria’s Secret and Bath & Body Works parent company L Brands, has accused his former money manager and confidant, Jeffrey Epstein, of misappropriating “vast sums of money” from Wexner and his family. Wexner claims he first learned of the wrongdoing in 2007 – NYTimes and WSJ and Bloomberg China … Continue reading