Tag Archives: pandemic

Financial Daily Dose 9.8.2020 | Top Story: Markets Slide Amidst So-So Jobs Report and Tech Reset

BY: Michael D. Reif | September 8, 2020

Last Friday’s US Jobs Report saw unemployment fall to 8.4%, but the end of federal aid programs and a solid-but-not-gangbusters 1.4 million jobs gained in August leads many to fear a much worse employment picture ahead – NYTimes and WSJ and Bloomberg and Marketplace It certainly didn’t do enough to reverse already falling stocks, which … Continue reading

Financial Daily Dose 9.2.2020 | Top Story: Treasury Secretary Calls for More Virus-Related Relief As U.S. Economic Recovery Stalls

BY: Michael D. Reif | September 2, 2020

In a House Select Subcommittee meeting on Tuesday, Treasury Secretary Steven Mnuchin called for more Congressional action to provide coronavirus relief and promised a White House initiative to protect renters from eviction. Most in Congress agree, though no bipartisan path forward has yet emerged  – WSJ and Bloomberg and NYTimes Meanwhile, the Fed’s doing its … Continue reading

Financial Daily Dose 8.21.2020 | Top Story: Court Stays CA Gig-Worker Law; Uber and Lyft to Keep Operating in State During Appeal

BY: Michael D. Reif | August 21, 2020

A state appeals court in California has preempted Uber and Lyft’s threatened state-wide shutdown over a new state law ordering them to reclassify their drivers as employees by “allowing them to continue operating [under their current model] while the court weighs their appeal” – NYTimes and WSJ and Bloomberg and MarketWatch and Marketplace Initial U.S. … Continue reading

Financial Daily Dose 8.20.2020 | Top Story: Apple Becomes First U.S. Company to Hit $2 Trillion Valuation Mark

BY: Michael D. Reif | August 20, 2020

Apple tipped the $2 trillion mark this week, the first U.S. company to reach that valuation milestone, doing so just 2 years after it first hit $1 trillion. That it’s done so in the middle of a pandemic only punctuates how the coronavirus crisis “has been a bonanza for the tech giants” – NYTimes 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 6.3.2020 | Top Story: New Class Action Seeks Billions From Google Over Alleged Privacy Violations

BY: Michael D. Reif | June 3, 2020

A proposed class action filed in federal court in California on Tuesday accuses Google of “surreptitiously amass[ing] billions of bits of information—every day—about internet users even if they opt out of sharing their information.” The complaint seeks upwards of $5 billion in damages – Bloomberg and MarketWatch and Law360 Highlights (term used generously) from Zuck’s … 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 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 3.11.2020 | Top Story: US Markets Officially Hit Bear Territory as COVID-19 Fallout Continues

BY: Michael D. Reif | March 12, 2020

Go ahead and put Tuesday, March 11th in the history books. The same day the WHO declared the COVID-19 outbreak as an official pandemic, the US stock market’s 11-year bull run officially came to an end, with the Dow closing 20% below its high from just a month ago. The S&P 500 was right on … Continue reading