Tag Archives: JPMorgan

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 9.9.2020 | Top Story: Luxury-Goods Giant LMVH Pulls Out of $16 Billion Deal to Acquire Tiffany & Co.

BY: Michael D. Reif | September 9, 2020

Blaming a “U.S. move to impose tariffs on French goods,” luxury brand conglomerate LMVH is pulling out of a proposed $16 billion deal to buy jeweler Tiffany & Co. Tiffany is now suing to enforce the ill-fated agreement – Bloomberg and NYTimes and WSJ and MarketWatch Markets continued their slide on Tuesday, with tech stocks … 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 7.14.2020 | Top Story: US Deficit Hits New Monthly High in June on Covid Relief Spending

BY: Michael D. Reif | July 14, 2020

The Treasury Department announced on Monday that the U.S. budget deficit hit a new record in June–$864 billion—“as the federal government continued pumping money into the economy to prop up workers and businesses affected by the coronavirus pandemic” – NYTimes and MarketWatch That outlay won’t be shrinking any time soon, either, especially now that a … Continue reading

Financial Daily Dose 5.11.2020 | Top Story: Tesla Sues to Reopen its California Factory

BY: Juvian Hernandez | May 11, 2020

Tesla sues to reopen its California factory; Elon threatens to move the company out of state. The company asked a federal judge to reopen the factory, arguing that the “local government’s insistence that it remain closed . . . defies the U.S. Constitution.” – WSJ Stocks decline by 0.5%; the Dow  Jones Industrial Average sank 0.9%; … Continue reading

Financial Daily Dose 4.1.2020 | Top Story: Markets fall again to close out devastating month on Wall Street

BY: Michael D. Reif | April 1, 2020

Markets closed down on Tuesday, a fitting conclusion to the worst month on Wall Street since October 2008 that was marked by wild volatility and record-setting point drops – NYTimes and WSJ and MarketWatch The long-term global economic outlook isn’t exactly inspiring stuff, either – NYTimes We’re learning more about a new loan program from … Continue reading

Financial Daily Dose 3.18.2020 | Top Story: Markets Gain on Stimulus Promise as Volatility Rules

BY: Michael D. Reif | March 18, 2020

Volatility’s the name of the game these days on Wall Street. So what was down on Monday was up (a bit, at least) yesterday, although the basics of the situation haven’t improved at all – NYTimes and WSJ and Bloomberg A good chunk of that upswing likely came from moves by the White House and … Continue reading

Financial Daily Dose 3.6.2020 | Top Story: Volatility Reigns as Stocks Dive Over Continued COVID-19 Fears

BY: Michael D. Reif | March 6, 2020

Volatility’s the name of the game again, folks, and we have COVID-19 to thank. Just a day after markets jumped in response to central bank and Super Tuesday news, the dove again some 3% as virus-related fears took hold again – NYTimes and WSJ and Bloomberg and MarketWatch Soooooo . . . . who’s excited … Continue reading

Financial Daily Dose 1.14.2020 | Top Story: Amazon Hit with Antitrust Case by India’s Government

BY: Juvian Hernandez | January 14, 2020

BlackRock Inc. will sell out of all companies “that get more than 25% of sales from thermal coal.” This threshold, however, won’t affect larger, diversified miners—which includes some of the biggest coal shippers. – Bloomberg and NYTimes MGM Resorts International agreed to sell the MGM Grand and Mandalay Bay and casinos to Blackstone Group Inc. Blackstone would own … Continue reading

Financial Daily Dose 12.12.2019 | Top Story: Fed Holds Rates Steady And Looks to Stay There

BY: Michael D. Reif | December 12, 2019

As expected, the Fed kept interest rates unchanged on Wednesday while also signaling that “they would wait to see how the economy fared before making another move” – NYTimes and WSJ and Bloomberg and MarketWatch Aramco shares surged upon hitting markets on Wednesday, but “the stock offering fell short of the royal family’s goal of … Continue reading