Tag Archives: Hertz

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 7.2.2020 | Top Story: Resurgent virus threatens nascent US economic recovery

BY: Michael D. Reif | July 2, 2020

A resurgent virus is spelling trouble for the promised return of the American economy, with states seeing big Covid blooms now losing ground on the economic activity and hiring that helped propel markets to their best quarter since the late 1990s – NYTimes and WSJ and MarketWatch and Bloomberg We’ll be poring through the June … Continue reading

Financial Daily Dose 6.18.2020 | Top Story: SEC Intervenes to Halt Bankrupt Hertz’s Planned Stock Sales

BY: Michael D. Reif | June 18, 2020

Some rare last-minute SEC intervention forced Hertz to suspend its planned sale of up to $500 million in shares of the bankrupt car-rental company while the agency undertakes a closer review of the offering- WSJ and Bloomberg and MarketWatch and Law360 PepsiCo’s Quaker Oats responded rapidly to the furor that followed a Monday TikTok post … 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 6.11.2020 | Top Story: Europe to Charge Amazon with Antitrust Violations Over Treatment of Third-Party Sellers

BY: Michael D. Reif | June 11, 2020

The European Union’s antitrust authority is reportedly within days of filing charges against Amazon for the company’s “treatment of third-party sellers,” the latest step in a “two-year probe into Amazon’s alleged mistreatment of sellers that use its platform” related to its “dual role as a marketplace operator and a seller of its own products” – … Continue reading

Financial Daily Dose 5.28.2020 | Top Story: Canadian Court Clears U.S. Extradition Path for Huawei Exec

BY: Michael D. Reif | May 28, 2020

The path for extradition of Huawei exec Meng Wanzhou is much clearer now that a Canadian court has ruled that “the conduct she is accused of in the United States, if proved, also constitutes a crime in Canada.” That finding—the legal concept known as “double criminality”—was essential for Canada to transfer Ms. Meng to the … Continue reading

Financial Daily Dose 5.27.2020 | Top Story: AT&T Officially Enters Streaming Wars With Its Pricey HBO Max Offering

BY: Michael D. Reif | May 27, 2020

With HBO Max entering the fray today, we’ve got your latest dispatch from the streaming wars, including thoughts on Max’s ability to deliver on its promise to “crush” Netflix despite a very crowded playing field, a spendy monthly price tag (at the wrong time), and a late start – NYTimes and Bloomberg and Cnet Speaking … Continue reading

Financial Daily Dose 5.26.2020 | Top Story: Covid-19 Drives Already-Troubled Hertz to Bankruptcy

BY: Michael D. Reif | May 26, 2020

Unable to reach a last-minute deal with investors, rental car mainstay Hertz filed for bankruptcy late Friday night, doing so “without a clear plan with creditors in place—a rare move for a company of its size.” Though, like the other big-name bankruptcies in recent weeks, the pandemic pushed the company over the edge, Hertz has … Continue reading

Financial Daily Dose 5.22.2020 | Top Story: U.S. Sees 2.4 Million More Unemployment Claims and Concerns Over Undercounting

BY: Michael D. Reif | May 22, 2020

This week’s latest initial unemployment filings numbered 2.4 million, a “slight drop-off in the wave of historically high weekly filings” since the pandemic hit the U.S. economy. Don’t get too excited, though. Continuing benefit payouts are in the 25 million range as states struggle to keep up with the surge in claims since early March … Continue reading

Financial Daily Dose 4.30.2020 | Top Story: Fed Holds Rates Near Zero, Pledges to Use All of its Tools to Protect US Economy

BY: Michael D. Reif | April 30, 2020

The Fed closed out its April Open Markets Committee by holding rates steady at nearly zero but also pledging to “use its ‘full range of tools’ to insulate the economy as coronavirus lockdowns sap economic growth and throw millions out of work.” That strong reassurance helped drive markets up even as the US revealed on … Continue reading