Tag Archives: Antitrust

Financial Daily Dose 10.23.2020 | Top Story: CA Appeals Court Tells Uber and Lyft to Treat Drivers as Employees

BY: Michael D. Reif | October 23, 2020

A California appeals court has affirmed a lower court decision requiring Uber and Lyft to “treat their California drivers as employees, providing them with the benefits and wages they are entitled to under state labor law.” The ruling places even greater importance on a “ballot initiative sponsored by gig economy start-ups to exempt themselves from … Continue reading

Financial Daily Dose 10.8.2020 | Top Story: Feds fine Citi $400M over “Longstanding” Governance Failures

BY: Michael D. Reif | October 8, 2020

Federal regulators—including the Federal Reserve and the OCC—have fined Citigroup $400 million over “longstanding” failures in the areas of risk management, data governance, and internal controls. In addition to the fine, the OCC will require Citi to seek its approval before making even minor acquisitions of credit-card portfolios or non-bank companies  – Law360 and WSJ … Continue reading

Financial Daily Dose 8.26.2020 | Top Story: American Airlines to furlough 19,000 in coming months

BY: Michael D. Reif | August 26, 2020

American Airlines is pushing forward with plans to furlough 19,000 workers this fall, even as the airline industry lobbies a stalemated Congress for another multi-billion dollar bailout. That figure, “when combined with the thousands of employees who have taken buyout packages or agreed to take long-term leave,” will leave the airline with at least 40,000 … Continue reading

Financial Daily Dose 8.17.2020 | Top Story: White House Sets 90-day Deadline for TikTok Owner to Divest in U.S.

BY: Michael D. Reif | August 17, 2020

The White House has “doubled down” on its recent actions against TikTok by “formally giving ByteDance, the Chinese owner of the popular video-sharing app, 90 days to divest from its American assets and any data that TikTok had gathered in the United States” – NYTimes and WSJ and Bloomberg and MarketWatch and Law360 and Mashable … Continue reading

Financial Daily Dose 8.12.2020 | Top Story: 9th Circuit Reversed Antitrust Ruling Against Qualcomm

BY: Michael D. Reif | August 12, 2020

Big win for Qualcomm this week, with a 9th Circuit panel reversing an antitrust verdict against the company that “had threatened the chip maker’s business model.” The appellate court, in flipping the district court’s ruling, found that “Qualcomm had no duty under antitrust law to license its competitors” – NYTimes and WSJ and Law360 The … 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 6.24.2020 | Top Story: Top German Court Upholds Antitrust Ruling Against Facebook Over Illegal Data Harvesting

BY: Michael D. Reif | June 24, 2020

Germany’s Federal Court of Justice upheld a decision by the country’s antitrust watchdog on Tuesday that “Facebook had abused its dominance in social media to illegally harvest data about its users”—a “major victory for proponents of tougher regulation of the world’s largest technology companies” – NYTimes and Law360 Meanwhile, here in the States, the DOJ … 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 6.11.2020 | 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

Financial Daily Dose 5.19.2020 | Top Story: US Markets Surge on Hopes for Covid-19 Vaccine

BY: Michael D. Reif | May 19, 2020

Optimism over promising results for a coronavirus vaccine from Moderna helped drive stocks up on Monday after a rough go of it last week – WSJ and NYTimes and Bloomberg and MarketWatch Inside sources suggest that the DOJ is preparing to file “antitrust charges against Google as early as this summer . . . in … Continue reading