Tag Archives: SDNY

Financial Daily Dose 8.19.2020 | Top Story: S&P 500 Erases Pandemic Losses Despite U.S. Failure to Control Virus

BY: Michael D. Reif | August 19, 2020

Unlike much of the world, the U.S. has not turned the corner on the coronavirus outbreak. But you wouldn’t know it by looking at the markets. On Tuesday, the S&P 500 topped out at its highest level ever, “capping a remarkable rebound fueled by unprecedented government stimulus and optimism among investors about the world’s ability … Continue reading

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 7.27.2020 | Top Story: Goldman Sachs Settles Out of 1MDB Scandal for $3.9 B

BY: Michael D. Reif | July 27, 2020

Aaaand, we’re back. Let’s get to it. Goldman Sachs has reached a deal for $3.9 billion with the Malaysian government to resolve allegations of wrongdoing related to the massive 1MDB scandal. Goldman was the “main banker for the Malaysian fund” and raised “billions of dollars” for it, “much of which was allegedly stolen by people … 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 3.13.2020 | Top Story: COVID-19 Fears Push Wall Street to Worst Losses Since Black Monday

BY: Michael D. Reif | March 13, 2020

It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial Average since Black Monday in 1987. The Dow lost 10%, … Continue reading

Financial Daily Dose 2.11.2020 | Top Story: DOJ Indicts Four from Chinese Army Over 2017 Equifax Cyberattack

BY: Michael D. Reif | February 11, 2020

The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million Americans.”  The indictment places the Equifax episode in a broader scheme by the Chinese army and intelligence services to steal data … Continue reading

Financial Daily Dose 1.21.2020 | Top Story: World Economic Forum Kicks Off in Davos

BY: Michael D. Reif | January 21, 2020

As it kicked off its 50th annual gathering today, the World Economic Forum in Davos is facing some hard questions—both about the state of the ideals it has long espoused (“open borders, liberal democracy and free borders,” to name a few) and about the uber-elite gathering itself – NYTimes Here’s what’s on the agenda other … Continue reading

Financial Daily Dose 1.8.2020 | Top Story: Speaker Company Sonos Sues Google for Patent Infringement

BY: Michael D. Reif | January 8, 2020

Home speaker maker Sonos has sued Google, accusing the company of “infringing on five of its patents, including technology that lets wireless speakers connect and synchronize with one another.” Sonos had originally partnered with Google in 2013 on a music service that would work easily with Sonos’ speakers (back when Google was merely “an internet … Continue reading

BuzzFeed Faces $11 Million in Defamation Suit by British News Agency

BY: Carly Kessler | February 21, 2017

BuzzFeed, the popular independent digital media company, was hit with an $11 million defamation suit in January 2016 by journalist Michael Leidig and Central European News (“CEN”). Leidig and CEN are demanding more than $11 million in damages over an August 24, 2015 BuzzFeed article titled “The King of Bullsh*t News” and subtitled “How a small British … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | July 1, 2015

The latest from Greece: Tsipras may have blinked? Still too early to say for certain (especially with the referendum days away), but Greek PM Alexis Tspiras reportedly sent a letter yesterday to the ECB, IMF, and other Eurozone countries telling them his country was “prepared to accept” the last deal offered over the weekend with … Continue reading