Tag Archives: ECB

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 7.6.2020 | 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 6.4.2020 | Top Story: DOJ Indicts Top Chicken Industry Execs Over Price-Fixing Allegations

BY: Michael D. Reif | June 4, 2020

The DOJ has begun the prosecutorial phase of its chicken price-fixing investigation with a one-count indictment accusing current and former senior execs at Pilgrim’s Pride and Claxton Poultry Farms—including their current presidents—of fixing prices and rigging bids from 2012 to 2017 – WSJ and Bloomberg and MarketWatch and NYTimes and Law360 Movie theater chain AMC … Continue reading

Financial Daily Dose 5.1.2020 | Top Story: Latest Reporting Pushes US Jobless Count to 30 Million in Last 6 Weeks

BY: Michael D. Reif | May 1, 2020

Another round of unemployment reporting has pushed the newly jobless figure over 30 million in just the past 6 weeks, as the coronavirus continues to wreak economic havoc  in the U.S.  Even that staggering figure is inaccurate, though, as state-erected barriers to unemployment benefits have made undercounting rampant – NYTimes and WSJ With those numbers … Continue reading

Financial Daily Dose 3.13.2020 | Top Story: COVID-19 Fears Push Wall Street to Worst Losses Since Black Monday

BY: Michael D. Reif | March 13, 2020

It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial Average since Black Monday in 1987. The Dow lost 10%, … Continue reading

Financial Daily Dose 1.24.2020 | Top Story: OCC Hits Former Wells Fargo Execs With Enforcement Actions Over Sham-account Scandal

BY: Michael D. Reif | January 24, 2020

The OCC announced yesterday that it’s bringing enforcement actions against five former Wells Fargo bank executives as part of their alleged roles in the bank’s sales practices scandal. The agency further revealed that it’s already settled with three additional execs, including former CEO John Stumpf, who will pay $17.5 million and lose access to the … Continue reading

Financial Daily Dose 1.21.2020 | Top Story: World Economic Forum Kicks Off in Davos

BY: Michael D. Reif | January 21, 2020

As it kicked off its 50th annual gathering today, the World Economic Forum in Davos is facing some hard questions—both about the state of the ideals it has long espoused (“open borders, liberal democracy and free borders,” to name a few) and about the uber-elite gathering itself – NYTimes Here’s what’s on the agenda other … Continue reading

Financial Daily Dose 12.13.2019 | Top Story: US Announces Phase One Trade Agreement With China, But No Confirmation From Chinese

BY: Michael D. Reif | December 13, 2019

The US and China have reportedly reached an initial agreement on the “final terms of a phase one trade deal, moving both countries closer to signing a pact that” the White House originally announced in October and averting new December tariffs. Under those terms, the U.S. would “slash the overall rate on the tariffs . … Continue reading

Financial Daily Dose 10.25.2019 | Top Story: ECB Holds Rates Steady as Draghi Departs

BY: Michael D. Reif | October 25, 2019

Mario Draghi presided over his final ECB meeting yesterday, with the central bank deciding to hold rates steady and let current stimulus measures play out for the time being. His departure (and the arrival of former IMF chief Christine Lagarde) coincides with a debate over his legacy at the bank—is he “savior of the Eurozone” … Continue reading

Financial Daily Dose 9.13.2019 | Top Story: ECB Cuts Rates and Restarts QE in Effort to Preempt European Downturn

BY: Michael D. Reif | September 13, 2019

The ECB was even more aggressive than expected in its moves to “head off a downturn before it gained momentum,” cutting a key interest rate and reviving “a money-printing program.” At the same time, the central bank “issued an unusually strong call for eurozone governments to do more of the economic heavy lifting” – NYTimes … Continue reading