Tag Archives: Uber

Financial Daily Dose 12.20.2019 | Goldman nearing $2B deal with DOJ to resolve 1MDB scandal claims

BY: Michael D. Reif | December 20, 2019

Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s subsidiary in Asia”—might be completed as early as late January 2020 – NYTimes and WSJ Tucked within the spending bill that … Continue reading

Financial Daily Dose 12.19.2019 | Top Story: Uber Settles With EEOC Over “Culture of Sexual Harassment” Allegations

BY: Michael D. Reif | December 19, 2019

So . . . financial news.  Amiright? Ride-hailing company Uber has resolved EEOC charges related to its alleged “culture of sexual harassment” and will “start a $4.4 million class fund to compensate victims of sexual harassment or retaliation from as early as Jan. 1, 2014” – WSJ and MarketWatch and Law360 and NYTimes A hacked … Continue reading

Financial Daily Dose 12.17.2019 | Top Story: USMCA Back on Track After Last-minute Wrangling

BY: Michael D. Reif | December 17, 2019

The United States and Mexico appear poised to move past a last-minute snag over new language on Labor Department attaches to posts in Mexico. Mexico feared that the diplomats would “act as labor inspectors,” and for a day or so, the planned congressional vote on the new Nafta was back in jeopardy – WSJ and … 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 11.25.2019 | Top Story: London denies Uber license, sowing chaos for its 45k drivers there

BY: Michael D. Reif | November 25, 2019

The City of London has denied Uber’s request to extend its license in the city over concerns for rider safety. The decision puts Uber’s 45,000 drivers there in limbo, though they’ll be able to continue operating while the company appeals the decision – Bloomberg and NYTimes and WSJ Two possible deals that we discussed in … Continue reading

Financial Daily Dose 11.15.2019 | Top Story: New Jersey Targets Uber Over “Independent Contractor” Worker Classification

BY: Michael D. Reif | November 15, 2019

Sending a shot across the bow of the gig economy, New Jersey is seeking nearly $650 million from Uber for “years of unpaid employment taxes for its drivers, arguing that the ride-hailing company has misclassified the workers as independent contractors and not as employees.” Uber says it’s challenging the state’s findings, but Jersey’s not alone … Continue reading

Financial Daily Dose 11.12.2019 | Top Story: WeWork in Talks with T-Mobile’s John Legere for CEO Job

BY: Michael D. Reif | November 12, 2019

WeWork is reportedly looking to swap out co-founder Adam Neumann for a similarly long-tressed and eccentric figure, T-Mobile’s John Legere. Legere is currently quite occupied with his company’s merger with Sprint, and his interest in the job is unclear  – WSJ and NYTimes and Bloomberg The Journal’s breaking news of a secretive Google effort—dubbed Project … Continue reading

Financial Daily Dose 11.05.2019 | Top Story: Uber Posts Billion-dollar Q3 Losses But Improved Revenue

BY: Michael D. Reif | November 5, 2019

Uber reported another quarter of billion+ dollar losses, but as so many things on Wall Street & Silicon Valley tend to go, the news wasn’t all bad because those numbers were far better than the $5.2 billion it lost in Q2. Throw in a 30% revenue increase, and it was something of a solid day … Continue reading

Financial Daily Dose 10.15.2019 | Top Story: Uber lays off 350 more corporate workers in effort to control costs

BY: Michael D. Reif | October 15, 2019

Ride-hailing giant Uber laid off 350 workers on Monday as part of an ongoing effort to pare costs that now represents 1000 jobs cut since July – NYTimes and Bloomberg and WSJ Not an ideal start to the week for Deutsche Bank, which—as revealed on Monday—spent the better part of 20 years wooing China’s communist … Continue reading

Financial Daily Dose 10.4.2019 | Top Story: Markets Watching US Jobs Report for Clues on More Fed Rate Action

BY: Michael D. Reif | October 4, 2019

Jobs report Friday again. Here’s what to look for in the numbers [and let’s temper those expectations, okay?] – Bloomberg and NYTimes and WSJ Here’s why most expect that the figures, along with manufacturing and other economic data that rolled in this week, are probably troublesome enough to push the Fed to cut again at … Continue reading