Tag Archives: Amazon

Financial Daily Dose 7.31.2020 | Top Story: Amazon a Juggernaut?

BY: Juvian Hernandez | July 31, 2020

Amazon a juggernaut? Quarterly sales and profit prove how indispensable tech giants have become to our society. In the midst of a pandemic, Big Tech mostly shows gains. – WSJ Market Snapshot: S&P 500 Index increased 0.3% as of 8:23 a.m. London time; Bloomberg Dollar Spot Index declined 0.3%; 10-year Treasuries fell one basis point to … Continue reading

Financial Daily Dose 7.29.2020 | Top Story: Tech Titans to Testify About Antitrust Concerns Today

BY: Michael D. Reif | July 29, 2020

Much more on what to expect from Big Tech’s “Big Tobacco Moment” on the Hill today, at which Google, Amazon, Facebook, and Apple’s CEOs will endeavor to make the case that their massive companies don’t “stifle[] rivals and harm[] consumers” – NYTimes and WSJ and Bloomberg and MarketWatch An extra challenge for Apple’s Tim Cook, … Continue reading

Financial Daily Dose 7.28.2020 | Top Story: SEC Warns Under Armour Execs of Enforcement Action Over Past Accounting Practices

BY: Michael D. Reif | July 28, 2020

The SEC has served Wells notices to Under Armour, warnings that the company and its execs could “face civil-enforcement action related to the sportswear maker’s past accounting practices,” including “the company’s disclosures around its accounting in 2015 and 2016 and ‘pull forward’ sales during those periods” – WSJ and Bloomberg and Law360 Speaking of both … Continue reading

Financial Daily Dose 7.7.2020 | Top Story: Treasury Department Releases Details of $660 Billion PPP Loans

BY: Michael D. Reif | July 7, 2020

With the Treasury Department’s release of PPP data on Monday, we now have a clearer picture of the top recipients of the government’s “$660 billion small business relief program,” with “restaurants, medical offices and car dealership” leading the pack based on an initial analysis – NYTimes and WSJ and Bloomberg and MarketWatch Palantir Technologies, the … Continue reading

Financial Daily Dose 6.30.2020 | Top Story: Supreme Court Allows President to Fire CFPB Director, Lets Agency Remain

BY: Michael D. Reif | June 30, 2020

By a 5-4 margin, the Supreme Court has ordered the restructuring of the Consumer Financial Protection Bureau, “ruling the agency’s structure was unconstitutional because its director held too much unchecked power.” The fix, according to the Court, is allowing the President to remove the CFPB’s director “for any reason,” which it deemed sufficient to reject … Continue reading

Financial Daily Dose 6.25.2020 | Top Story: Bayer Inks $10 Billion+ Deal to Settle Roundup Cancer Claims

BY: Michael D. Reif | June 25, 2020

Bayer, the German parent company of Monsanto, will pay more than $10 billion to resolve “tens of thousands of claims in the United States that its popular weedkiller Roundup causes cancer.” The settlement covers an estimated 95,000 cases and includes some $1.25 billion “to deal with future claims from people who used Roundup and may … Continue reading

Financial Daily Dose 6.16.2020 | Top Story: Supreme Court Issues Landmark Decision Protecting LGBTQ and Transgender Workers

BY: Michael D. Reif | June 16, 2020

On Monday, the Supreme Court delivered a surprising and monumental win for LGBTQ and transgender Americans, ruling 6-3 that the Civil Rights Act of 1964 applies to protect “gay and transgender workers from workplace discrimination.” The “vastly consequential” decision extended workplace protections to the millions of workers in states where, until yesterday morning, “it was … Continue reading

Financial Daily Dose 6.15.2020 | Top Story: Reopening-Related COVID Surge Pauses Recent Market Rally

BY: Michael D. Reif | June 15, 2020

Rising infection rates around the U.S. and the globe are worrying markets, as fear of a second wave of cases linked with the reopening of the economy freaks out traders – WSJ and Bloomberg and MarketWatch Coronavirus-related litigation looks to be a hot topic in America for months and years to come, which is why … Continue reading

Financial Daily Dose 6.12.2020 | Top Story: American Airlines Pledges Loyalty Program as Collateral for COVID Stimulus Package

BY: Juvian Hernandez | June 12, 2020

American Airlines Group Inc. stated that it plans to pledge its loyalty program “as collateral for a $4.75 billion government loan as it seeks to shore up capital to manage through the coronavirus pandemic.” The company expects second quarter revenue to be down about 90%. – WSJ Market Snapshot: S&P 500 gained 1.9%; Bloomberg Dollar Spot … Continue reading

Financial Daily Dose 6.11.2020 | Top Story: Europe to Charge Amazon with Antitrust Violations Over Treatment of Third-Party Sellers

BY: Michael D. Reif | June 11, 2020

The European Union’s antitrust authority is reportedly within days of filing charges against Amazon for the company’s “treatment of third-party sellers,” the latest step in a “two-year probe into Amazon’s alleged mistreatment of sellers that use its platform” related to its “dual role as a marketplace operator and a seller of its own products” – … Continue reading