Tag Archives: Goldman Sachs

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

Financial Daily Dose 2.5.2020 | Top Story: Amazon Joins Trillion-Dollar Market Cap Club

BY: Michael D. Reif | February 5, 2020

Amazon closed out the trading day yesterday as an official member of the $1 trillion club for the first time. Because Jeff really needed a win, folks. The company joins Microsoft, Alphabet, and Apple in that rarified “four-comma club” – Bloomberg and MarketWatch NYSE owner Intercontinental Exchange has submitted a takeover offer for eBay Inc. … 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 1.16.2020 | Top Story: US and China Make Phase One Official While Trade Questions Linger

BY: Michael D. Reif | January 16, 2020

Well, Phase One is official, thanks to a White House signing yesterday that included Chinese Vice Premier Liu He. With that act comes our first substantive look at the deal that’s been thus-far shrouded in secrecy. Some highlights: commitments from China to purchase “an additional $200 billion worth of American goods and services by 2021,” … Continue reading

Financial Daily Dose 1.10.2020 | Top Story: Ransomware Attack on Travelex Sows Chaos Across Foreign Exchange Sector

BY: Michael D. Reif | January 10, 2020

Hackers who targeted airport currency exchange mainstay Travelex in a ransomware attack on New Year’s Eve have alerted British media that they possess 5 GB of sensitive customer data from the company “since gaining access to Travelex six months ago and intended to sell it if there was no response by Jan. 14” to their … Continue reading