Tag Archives: Facebook

Financial Daily Dose 10.23.2020 | Top Story: CA Appeals Court Tells Uber and Lyft to Treat Drivers as Employees

BY: Michael D. Reif | October 23, 2020

A California appeals court has affirmed a lower court decision requiring Uber and Lyft to “treat their California drivers as employees, providing them with the benefits and wages they are entitled to under state labor law.” The ruling places even greater importance on a “ballot initiative sponsored by gig economy start-ups to exempt themselves from … Continue reading

Financial Daily Dose 9.10.2020 | Top Story: EU Regulators Challenge Facebook Data Transfers

BY: Michael D. Reif | September 10, 2020

New concerns from Ireland’s Data Protection Commission about Facebook’s protection of information from American government surveillance may soon force the social networking giant to “overhaul its operations to keep data on Europeans stored within the European Union, an immensely complicated task given the way Facebook moves data among data centers around the world” – NYTimes … Continue reading

Financial Daily Dose 8.27.2020 | Top Story: TikTok CEO Resigns After Just 4 Months on Job

BY: Michael D. Reif | August 27, 2020

Still-new TIkTok CEO Kevin Mayer has stepped down, “just months after taking the helm of the viral short video app.” ByteDance had appointed Mayer in May in an effort “to make the case that TikTok operates as a separate entity from its Beijing-based parent to assuage concerns about national security,” but the White House was … Continue reading

Financial Daily Dose 8.24.2020 | Top Story: TikTok Confirms Plans to Sue U.S. over Recent Executive Orders Targeting App

BY: Michael D. Reif | August 24, 2020

More on TikTok’s plans to sue the U.S. over the White House’s recent executive orders seeking to block the app on American soil and force its owner, ByteDance, to sell its American assets. The company intends to argue that the EOs “deprived it of its due process and [claimed] it had been unfairly and incorrectly … Continue reading

Financial Daily Dose 8.6.2020 | Top Story: Facebook Launches Instagram Reels to Compete with TikTok

BY: Michael D. Reif | August 6, 2020

Never one to let a competitor’s misfortune pass by without looking for an opportunity, Facebook’s Instagram is hoping to capitalize on TikTok’s questionable U.S. status by launching Reels, a new feature that allows users to create easily sharable 15-second videos while syncing up their recordings “with clips of music or audio files that they record … 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

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