Tag Archives: Google

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 7.28.2020 | Top Story: SEC Warns Under Armour Execs of Enforcement Action Over Past Accounting Practices

BY: Michael D. Reif | July 28, 2020

The SEC has served Wells notices to Under Armour, warnings that the company and its execs could “face civil-enforcement action related to the sportswear maker’s past accounting practices,” including “the company’s disclosures around its accounting in 2015 and 2016 and ‘pull forward’ sales during those periods” – WSJ and Bloomberg and Law360 Speaking of both … Continue reading

Financial Daily Dose 7.15.2020 | Top Story: America’s Biggest Banks Setting Aside Tens of Billions for Anticipated Loan Losses

BY: Michael D. Reif | July 15, 2020

The latest quarterly reporting shows that America’s biggest banks—among them, JPMorgan, Citigroup, and Wells Fargo—are taking self-imposed hits now in anticipation of a “wave of loan losses” later. Those three are collectively stockpiling “$28 billion to cover losses as consumers and businesses start to default on their loans” – WSJ and Bloomberg and NYTimes Automakers … 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 7.7.2020 | 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 6.24.2020 | 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 6.15.2020 | Top Story: Reopening-Related COVID Surge Pauses Recent Market Rally

BY: Michael D. Reif | June 15, 2020

Rising infection rates around the U.S. and the globe are worrying markets, as fear of a second wave of cases linked with the reopening of the economy freaks out traders – WSJ and Bloomberg and MarketWatch Coronavirus-related litigation looks to be a hot topic in America for months and years to come, which is why … Continue reading

Financial Daily Dose 6.12.2020 | Top Story: American Airlines Pledges Loyalty Program as Collateral for COVID Stimulus Package

BY: Juvian Hernandez | June 12, 2020

American Airlines Group Inc. stated that it plans to pledge its loyalty program “as collateral for a $4.75 billion government loan as it seeks to shore up capital to manage through the coronavirus pandemic.” The company expects second quarter revenue to be down about 90%. – WSJ Market Snapshot: S&P 500 gained 1.9%; Bloomberg Dollar Spot … 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 5.29.2020 | Top Story: Google Cut Costs . . . .

BY: Juvian Hernandez | May 29, 2020

Google cut costs by rescinding offers to more than 2,000 contract workers due to the strains of the pandemic – NYTimes The S&P 500 Index fell 0.6%;  the Dow Jones Industrial Average decreased 1%; the Nasdaq Composite Index decreased 0.1%; the yield on two-year Treasuries decreased one basis point to 0.16%; the yield on 10-year Treasuries … Continue reading