Tag Archives: coronavirus

Financial Daily Dose 10.9.2020 | Top Story: New Jobless Claims Top 800,000 Again As U.S. Recovery Stalls

BY: Michael D. Reif | October 9, 2020

Yesterday’s jobless numbers were down a bit from a week earlier but still topped 800,000 for the 4th week in a row. “Claims remain above the pre-pandemic peak of 695,000 and are higher than in any previous recession for records tracing back to 1967” – WSJ and Marketplace and NYTimes We’ve been talking in the … 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 9.2.2020 | Top Story: Treasury Secretary Calls for More Virus-Related Relief As U.S. Economic Recovery Stalls

BY: Michael D. Reif | September 2, 2020

In a House Select Subcommittee meeting on Tuesday, Treasury Secretary Steven Mnuchin called for more Congressional action to provide coronavirus relief and promised a White House initiative to protect renters from eviction. Most in Congress agree, though no bipartisan path forward has yet emerged  – WSJ and Bloomberg and NYTimes Meanwhile, the Fed’s doing its … 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 8.19.2020 | Top Story: S&P 500 Erases Pandemic Losses Despite U.S. Failure to Control Virus

BY: Michael D. Reif | August 19, 2020

Unlike much of the world, the U.S. has not turned the corner on the coronavirus outbreak. But you wouldn’t know it by looking at the markets. On Tuesday, the S&P 500 topped out at its highest level ever, “capping a remarkable rebound fueled by unprecedented government stimulus and optimism among investors about the world’s ability … Continue reading

Financial Daily Dose 8.13.2020 | Top Story: Uber and Lyft Warn Gig-Worker Ruling Could Push Them Out of California

BY: Michael D. Reif | August 13, 2020

Ride-hailing companies Uber and Lyft are warning that California’s new moves forcing them to classify their drivers as employees could force them both to shutter their operations altogether in that state (at least while they appeal the adverse ruling). The strategy’s become a tried-and-true approach for Uber at this point – Bloomberg and MarketWatch and … 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 8.10.2020 | Top Story: Twitter Enters Fray in Pursuit of TikTok

BY: Michael D. Reif | August 10, 2020

With “Twit-tok” trending this weekend, you should be unsurprised to learn that Twitter has joined the group of suitors for TikTok, revealing that it’s held preliminary talks with the video-sharing app about a possible combo.  Still, Microsoft remains, by all accounts, the front-runner in the quest for TikTok – WSJ and Bloomberg Meanwhile, NPR is … Continue reading

Financial Daily Dose 8.4.2020 | Top Story: Twitter to Pay FTC Up to $250 Over Privacy Violations

BY: Michael D. Reif | August 4, 2020

Twitter will pay the Federal Trade Commission up to $250 million to “resolve new charges . . . that the social media giant breached a 2011 consent decree by using data provided for security purposes to target users with advertisements.” Twitter had collected the personal info—like phone numbers and email addresses—after a massive cyberhack in … Continue reading

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