Tag Archives: TikTok

Financial Daily Dose 10.9.2020 | Top Story: New Jobless Claims Top 800,000 Again As U.S. Recovery Stalls

BY: Michael D. Reif | October 9, 2020

Yesterday’s jobless numbers were down a bit from a week earlier but still topped 800,000 for the 4th week in a row. “Claims remain above the pre-pandemic peak of 695,000 and are higher than in any previous recession for records tracing back to 1967” – WSJ and Marketplace and NYTimes We’ve been talking in the … Continue reading

Financial Daily Dose 10.8.2020 | Top Story: Feds fine Citi $400M over “Longstanding” Governance Failures

BY: Michael D. Reif | October 8, 2020

Federal regulators—including the Federal Reserve and the OCC—have fined Citigroup $400 million over “longstanding” failures in the areas of risk management, data governance, and internal controls. In addition to the fine, the OCC will require Citi to seek its approval before making even minor acquisitions of credit-card portfolios or non-bank companies  – Law360 and WSJ … Continue reading

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 9.8.2020 | 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 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 8.28.2020 | Top Story: In Major Policy Shift, Fed Embraces Inflation to Keep Rates Low

BY: Michael D. Reif | August 28, 2020

In hotly anticipated comments on Thursday—and yes, such a designation applies to a speech on monetary policy—Federal Reserve Chair Jay Powell “announced a major shift in how the central bank guides the economy, signaling it will make job growth pre-eminent and will not raise interest rates to guard against coming inflation just because the unemployment … Continue reading

Financial Daily Dose 8.27.2020 | Top Story: TikTok CEO Resigns After Just 4 Months on Job

BY: Michael D. Reif | August 27, 2020

Still-new TIkTok CEO Kevin Mayer has stepped down, “just months after taking the helm of the viral short video app.” ByteDance had appointed Mayer in May in an effort “to make the case that TikTok operates as a separate entity from its Beijing-based parent to assuage concerns about national security,” but the White House was … Continue reading

Financial Daily Dose 8.24.2020 | Top Story: TikTok Confirms Plans to Sue U.S. over Recent Executive Orders Targeting App

BY: Michael D. Reif | August 24, 2020

More on TikTok’s plans to sue the U.S. over the White House’s recent executive orders seeking to block the app on American soil and force its owner, ByteDance, to sell its American assets. The company intends to argue that the EOs “deprived it of its due process and [claimed] it had been unfairly and incorrectly … 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 8.18.2020 | Top Story: U.S. Further Restricts Huawei Access to American Components

BY: Michael D. Reif | August 18, 2020

Another day, another major U.S. restriction on Chinese tech. The Commerce Department is out with new rules “curbing Huawei Technologies Co.’s access to foreign-made chips.” The measures would “prohibit non-U.S. companies from selling any chips made using U.S. technology to Huawei without a special license” and places “potentially severe new limits on Huawei’s ability to … Continue reading