Tag Archives: Chapter 11

Financial Daily Dose 8.3.2020 | Top Story: Microsoft in Talks to Acquire ByteDance’s U.S. TikTok Operations

BY: Michael D. Reif | August 3, 2020

Following recent histrionics from the White House, ByteDance, “the Chinese internet giant that owns TikTok, has offered to sell all of the popular video app’s American operations as a way to save the business from being banned” by the administration. Microsoft is one of several notable suitors for the site, though its precise path forward … Continue reading

Financial Daily Dose 7.17.2020 | Top Story: Consumer Spending Up in June

BY: Juvian Hernandez | July 17, 2020

Consumer spending at stores and auto dealerships increased in June, the second straight month, but the recent uptick in coronavirus cases could slow future growth. – WSJ and NYTimes Big banks state that economic uncertainty will likely continue until a vaccine is developed for coronavirus. – Bloomberg Market Snapshot: S&P 500 Index increased 0.2% to 3,333.30 as of … Continue reading

Financial Daily Dose 7.13.2020 | Top Story: OPEC Weighs Expanded Oil Production Just Months After Agreeing on Cuts

BY: Michael D. Reif | July 13, 2020

OPEC and its oil-producing allies (in Russia and elsewhere) are reportedly working on a plan to ease cuts on oil production they agreed upon in April “amid signs that demand is returning to normal levels following coronavirus-related lockdowns” and internal pressure from the Saudis – WSJ and Bloomberg and NYTimes Disney World’s back open, even … Continue reading

Financial Daily Dose 7.6.2020 | Top Story: Uber to Acquire Food Delivery Rival Postmates for $2.65 Billion

BY: Michael D. Reif | July 6, 2020

Uber has reportedly finalized a deal to acquire Postmates for $2.65 billion in an all-stock deal, a  venture aimed at taking on DoorDash and other food delivery rivals – Bloomberg and NYTimes and MarketWatch and HuffPost Unable to right the ship that’s been traversing choppy waters for years, German lender Commerzbank’s CEO and Board Chair … Continue reading

Financial Daily Dose 7.1.2020 | Top Story: Airbus to Cut 15,000 Jobs in Effort to Weather Pandemic-induced Drop in Air Travel

BY: Michael D. Reif | July 1, 2020

French aircraft giant Airbus is cutting 15,000 jobs—the “largest downsizing in the company’s history”—as it prepares for a “lasting decline” in airline demand in the wake of the coronavirus pandemic – NYTimes and WSJ and MarketWatch More on the U.S.’s suddenly hot tech cold war with China, with the FCC on Tuesday designating Chinese telecomm … Continue reading

Financial Daily Dose 6.29.2020 | Top Story: Fracking Giant Chesapeake Energy Files for Ch. 11 Protection

BY: Michael D. Reif | June 29, 2020

Fracking pioneer Chesapeake Energy has filed for bankruptcy, “unable to overcome a mountain of debt that became unsustainable after a decade of stubbornly low gas prices.” The company grew wildly in the early 2000s under co-founder and former CEO Aubrey McClendon, but it also amassed $20 billion in debt before McClendon was pushed out in … 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 5.28.2020 | Top Story: Canadian Court Clears U.S. Extradition Path for Huawei Exec

BY: Michael D. Reif | May 28, 2020

The path for extradition of Huawei exec Meng Wanzhou is much clearer now that a Canadian court has ruled that “the conduct she is accused of in the United States, if proved, also constitutes a crime in Canada.” That finding—the legal concept known as “double criminality”—was essential for Canada to transfer Ms. Meng to the … Continue reading

Financial Daily Dose 5.22.2020 | Top Story: U.S. Sees 2.4 Million More Unemployment Claims and Concerns Over Undercounting

BY: Michael D. Reif | May 22, 2020

This week’s latest initial unemployment filings numbered 2.4 million, a “slight drop-off in the wave of historically high weekly filings” since the pandemic hit the U.S. economy. Don’t get too excited, though. Continuing benefit payouts are in the 25 million range as states struggle to keep up with the surge in claims since early March … Continue reading