Tag Archives: Goldman Sachs

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 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 8.13.2020 | 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 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 7.27.2020 | Top Story: Goldman Sachs Settles Out of 1MDB Scandal for $3.9 B

BY: Michael D. Reif | July 27, 2020

Aaaand, we’re back. Let’s get to it. Goldman Sachs has reached a deal for $3.9 billion with the Malaysian government to resolve allegations of wrongdoing related to the massive 1MDB scandal. Goldman was the “main banker for the Malaysian fund” and raised “billions of dollars” for it, “much of which was allegedly stolen by people … Continue reading

Financial Daily Dose 7.16.2020 | Top Story: Crypto Scheme Hacks Big-name Twitter Users

BY: Michael D. Reif | July 16, 2020

A Twitter-based crypto scam managed to hack some high-profile accounts yesterday. VERY high profile – MarketWatch and NYTimes and WSJ and Bloomberg and Law360 In a surprise ruling, the European Court of Justice—the EU’s top court—has struck down the popular Privacy Shield tool, which more than 5000 companies use “to transfer data from the EU … 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 7.1.2020 | 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 2.27.2020 | Top Story: Ninth Circuit Limits First Amendment Application on Tech Platforms

BY: Michael D. Reif | February 27, 2020

The Ninth Circuit has ruled unanimously that privately operated internet platforms are “free to censor content they don’t like”—a “not unexpected” ruling that nonetheless “marks the most emphatic rejection . . . that YouTube, Twitter, Facebook and other giant tech platforms are bound by the First Amendment” – WSJ and Law360 Getting to know new … Continue reading