Tag Archives: Facebook

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 7.29.2020 | Top Story: Tech Titans to Testify About Antitrust Concerns Today

BY: Michael D. Reif | July 29, 2020

Much more on what to expect from Big Tech’s “Big Tobacco Moment” on the Hill today, at which Google, Amazon, Facebook, and Apple’s CEOs will endeavor to make the case that their massive companies don’t “stifle[] rivals and harm[] consumers” – NYTimes and WSJ and Bloomberg and MarketWatch An extra challenge for Apple’s Tim Cook, … 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 7.10.2020 | Top Story: Gilead Reports Strong Remdesivir Results

BY: Juvian Hernandez | July 10, 2020

Gilead Sciences Inc. reports that its remdesivir virus treatment has been positively correlated with a 62% reduction in death risks compared with the standard of care in an initial analysis. The results still need to be confirmed by other clinical trials. Bloomberg Market Snapshot: The S&P 500 Index fell 0.5%; The Bloomberg Dollar Spot Index fell … Continue reading

Financial Daily Dose 7.7.2020 | Top Story: Treasury Department Releases Details of $660 Billion PPP Loans

BY: Michael D. Reif | July 7, 2020

With the Treasury Department’s release of PPP data on Monday, we now have a clearer picture of the top recipients of the government’s “$660 billion small business relief program,” with “restaurants, medical offices and car dealership” leading the pack based on an initial analysis – NYTimes and WSJ and Bloomberg and MarketWatch Palantir Technologies, the … 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 6.5.2020 | Top Story: The U.S. Job Market Sees Surprising Gains

BY: Juvian Hernandez | June 5, 2020

The U.S. market is improving, with employers adding 2.5 million jobs. For some perspective, “[t]he economy shed 22.1 million jobs combined in March and April.” So, we have a ways to go before we’ve fully recovered. WSJ and NYTimes and Bloomberg On that news, equities ticked up with the S&P 500 Index climbing 2.3%; the Bloomberg Dollar Sport … Continue reading

Financial Daily Dose 6.3.2020 | Top Story: New Class Action Seeks Billions From Google Over Alleged Privacy Violations

BY: Michael D. Reif | June 3, 2020

A proposed class action filed in federal court in California on Tuesday accuses Google of “surreptitiously amass[ing] billions of bits of information—every day—about internet users even if they opt out of sharing their information.” The complaint seeks upwards of $5 billion in damages – Bloomberg and MarketWatch and Law360 Highlights (term used generously) from Zuck’s … Continue reading

Financial Daily Dose 6.2.2020 | Top Story: CBO Projects Decade of Recovery and GDP-Contraction From Pandemic-Induced Econ Harm

BY: Michael D. Reif | June 2, 2020

New estimates from the Congressional Budget Office suggest that the “U.S. economy could take the better part of a decade to fully recover from the coronavirus pandemic and related shutdown” and see as much as a 3% contraction in GDP over that period – WSJ and NYTimes and MarketWatch Zuck and Co. are facing a … Continue reading