Tag Archives: Bayer

Financial Daily Dose 8.28.2020 | Top Story: In Major Policy Shift, Fed Embraces Inflation to Keep Rates Low

BY: Michael D. Reif | August 28, 2020

In hotly anticipated comments on Thursday—and yes, such a designation applies to a speech on monetary policy—Federal Reserve Chair Jay Powell “announced a major shift in how the central bank guides the economy, signaling it will make job growth pre-eminent and will not raise interest rates to guard against coming inflation just because the unemployment … 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 7.8.2020 | Top Story: Deutsche Bank to Pay $150 Million Over Epstein-Related Failures

BY: Michael D. Reif | July 8, 2020

German lender Deutsche Bank has reached a $150 million settlement with NY’s Department of Financial Services over its yearslong failure to “detect or prevent millions of dollars of suspicious transactions” from flowing through the account of the infamous Jeffrey Epstein – NYTimes and WSJ and MarketWatch and Law360 Big news in the solar energy world … 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 5.26.2020 | Top Story: Covid-19 Drives Already-Troubled Hertz to Bankruptcy

BY: Michael D. Reif | May 26, 2020

Unable to reach a last-minute deal with investors, rental car mainstay Hertz filed for bankruptcy late Friday night, doing so “without a clear plan with creditors in place—a rare move for a company of its size.” Though, like the other big-name bankruptcies in recent weeks, the pandemic pushed the company over the edge, Hertz has … Continue reading

Financial Daily Dose 2.18.2020 | Top Story: Apple Cuts Revenue Expectations and HSBC Axes Jobs as Coronavirus Infects Business Outlook

BY: Michael D. Reif | February 18, 2020

Apple announced that the coronavirus outbreak that’s brought Chinese manufacturing to a near-standstill and continues to spread around the world will affect its quarterly sales expectations.  The news makes Apple “one of the first companies to publicly disclose the extent of the chain effect from China and the virus on the business world” – NYTimes … Continue reading

Financial Daily Dose 1.17.2020 | Top Story: Senate Passes USMCA by Wide Margin to Update NAFTA

BY: Michael D. Reif | January 17, 2020

While there’s plenty of other business afoot in D.C. these days, it also happens to have been a pretty big week for trade deals. A day after Phase One with China was inked, the Senate overwhelmingly approved a revised NAFTA—now officially the USMCA—which will get final executive approval next week – NYTimes and WSJ and … Continue reading

Financial Daily Dose 8.29.2019 | Top Story: South Korea High Court Could Send Samsung Heir Back to Jail

BY: Michael D. Reif | August 29, 2019

A ruling this morning from South Korea’s top court means that Samsung’s de facto leader, its vice chair and chaebol heir Lee Jae-yong, could be heading back behind bars. The high court found that a lower appeals court “had underestimated the value of the bribes” he provided to former South Korean president Park Geun-hye, jeopardizing … 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 7.16.2019 | Top Story: Regulators Raise National Security Concerns About Facebook’s Libra Crypto

BY: Michael D. Reif | July 16, 2019

Treasury Secretary Steven Mnuchin is the latest prominent government official to express concerns about Facebook’s coming Libra launch. Speaking at a briefing yesterday, Mnuchin focused on national security issues related to the planned cryptocurrency – WSJ and Bloomberg and Law360 Facebook will have a chance to address those (and many other) matters during Senate Banking … Continue reading