Tag Archives: Apple

Financial Daily Dose 9.9.2020 | Top Story: Luxury-Goods Giant LMVH Pulls Out of $16 Billion Deal to Acquire Tiffany & Co.

BY: Michael D. Reif | September 9, 2020

Blaming a “U.S. move to impose tariffs on French goods,” luxury brand conglomerate LMVH is pulling out of a proposed $16 billion deal to buy jeweler Tiffany & Co. Tiffany is now suing to enforce the ill-fated agreement – Bloomberg and NYTimes and WSJ and MarketWatch Markets continued their slide on Tuesday, with tech stocks … Continue reading

Financial Daily Dose 9.8.2020 | Top Story: Markets Slide Amidst So-So Jobs Report and Tech Reset

BY: Michael D. Reif | September 8, 2020

Last Friday’s US Jobs Report saw unemployment fall to 8.4%, but the end of federal aid programs and a solid-but-not-gangbusters 1.4 million jobs gained in August leads many to fear a much worse employment picture ahead – NYTimes and WSJ and Bloomberg and Marketplace It certainly didn’t do enough to reverse already falling stocks, which … Continue reading

Financial Daily Dose 8.27.2020 | Top Story: TikTok CEO Resigns After Just 4 Months on Job

BY: Michael D. Reif | August 27, 2020

Still-new TIkTok CEO Kevin Mayer has stepped down, “just months after taking the helm of the viral short video app.” ByteDance had appointed Mayer in May in an effort “to make the case that TikTok operates as a separate entity from its Beijing-based parent to assuage concerns about national security,” but the White House was … 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 8.25.2020 | Top Story: U.S. and China Resume Trade Talks Over Phase One Status

BY: Michael D. Reif | August 25, 2020

Despite an earlier White House promise to postpone, American and Chinese trade negotiators met via videoconference on Monday to discuss “the status of the trade deal both nations signed in January, a pact that continues to open up some commerce between the world’s largest economies even as the bilateral relationship deteriorates in other areas” – … Continue reading

Financial Daily Dose 8.24.2020 | Top Story: TikTok Confirms Plans to Sue U.S. over Recent Executive Orders Targeting App

BY: Michael D. Reif | August 24, 2020

More on TikTok’s plans to sue the U.S. over the White House’s recent executive orders seeking to block the app on American soil and force its owner, ByteDance, to sell its American assets. The company intends to argue that the EOs “deprived it of its due process and [claimed] it had been unfairly and incorrectly … Continue reading

Financial Daily Dose 8.21.2020 | Top Story: Court Stays CA Gig-Worker Law; Uber and Lyft to Keep Operating in State During Appeal

BY: Michael D. Reif | August 21, 2020

A state appeals court in California has preempted Uber and Lyft’s threatened state-wide shutdown over a new state law ordering them to reclassify their drivers as employees by “allowing them to continue operating [under their current model] while the court weighs their appeal” – NYTimes and WSJ and Bloomberg and MarketWatch and Marketplace Initial U.S. … Continue reading

Financial Daily Dose 8.20.2020 | Top Story: Apple Becomes First U.S. Company to Hit $2 Trillion Valuation Mark

BY: Michael D. Reif | August 20, 2020

Apple tipped the $2 trillion mark this week, the first U.S. company to reach that valuation milestone, doing so just 2 years after it first hit $1 trillion. That it’s done so in the middle of a pandemic only punctuates how the coronavirus crisis “has been a bonanza for the tech giants” – NYTimes and … 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 8.14.2020 | Top Story: Top Story: Apple Removes Fortnite from App Store; Epic Games Responds with Lawsuit

BY: Michael D. Reif | August 14, 2020

Apple has removed spectacularly popular video game Fortnite from its App Store after accusing maker Epic Games of violating App Store Guidelines. Specifically, Epic has been encouraging users to make app payments directly to Epic rather than going through Apple or Google (where the tech giants take a 30% fee), citing Apple’s alleged “unreasonable restraints” … Continue reading