Tag Archives: PPP

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 8.31.2020 | Top Story: New Chinese Tech Law Threatens U.S. Bids for TikTok

BY: Michael D. Reif | August 31, 2020

Whoever emerges as the victor in the competition for TikTok will have to contend with another complication—this time from China, where on Friday the country “updated its export control rules to cover a variety of technologies it deemed sensitive, including technology that sounded much like TikTok’s personalized recommendation engine.” The change means that TikTok parent … Continue reading

Financial Daily Dose 7.8.2020 | Top Story: Deutsche Bank to Pay $150 Million Over Epstein-Related Failures

BY: Michael D. Reif | July 8, 2020

German lender Deutsche Bank has reached a $150 million settlement with NY’s Department of Financial Services over its yearslong failure to “detect or prevent millions of dollars of suspicious transactions” from flowing through the account of the infamous Jeffrey Epstein – NYTimes and WSJ and MarketWatch and Law360 Big news in the solar energy world … 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 6.22.2020 | Top Story: In Reversal, U.S. Gov’t Will Reveal Details of PPP Loan Recipients

BY: Michael D. Reif | June 22, 2020

After weeks of “backlash over a lack of transparency,” the Treasury Department has agreed to make public information detailing “borrower information for recipients of millions of small-business loans through the $660 billion Paycheck Protection Program.” The disclosures will apply to companies receiving more than $150k through the PPP and will include “business names, addresses, demographic … 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 6.11.2020 | 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 5.8.2020 | Top Story: U.S. and China to Resume Trade Talks

BY: Michael D. Reif | May 8, 2020

Deep breaths, people. It’s Jobs Report Friday – NYTimes and WSJ and Bloomberg and MarketWatch and Marketplace Still, as weekly unemployment claims show a slowing pace, stocks found enough good news to rally on Thursday, with the Nasdaq up enough to erase all of its 2020 losses. The Dow and S&P500 are still down roughly … Continue reading

Financial Daily Dose 5.7.2020 | Top Story: Markets Prepping for Brutal April Jobs Report

BY: Michael D. Reif | May 7, 2020

Tomorrow’s jobs report is going to be a doozy. Here’s what you need to know in advance of the “terrible” expected figures – NYTimes and Marketplace and Bloomberg and WSJ and MarketWatch Sure, the Christmas commercial was an epic failure.  But all it took was a pandemic and global lockdown for Peloton to bounce right … Continue reading

Financial Daily Dose 5.1.2020 | Top Story: Latest Reporting Pushes US Jobless Count to 30 Million in Last 6 Weeks

BY: Michael D. Reif | May 1, 2020

Another round of unemployment reporting has pushed the newly jobless figure over 30 million in just the past 6 weeks, as the coronavirus continues to wreak economic havoc  in the U.S.  Even that staggering figure is inaccurate, though, as state-erected barriers to unemployment benefits have made undercounting rampant – NYTimes and WSJ With those numbers … Continue reading