Tag Archives: White House

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 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 9.1.2020 | Top Story: Walmart to Roll Out Shipping Membership to Challenge Amazon’s Prime Dominance

BY: Michael D. Reif | September 1, 2020

Walmart is again preparing to roll out its answer to Amazon Prime: Walmart+, a sub-$100/year membership service that features gas discounts and some free shipping (at qualifying thresholds) – NYTimes and WSJ and Bloomberg Even with the Dow and S&P 500 slipping a bit on Monday, the three major U.S. indices wrapped August with 7+% … 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 8.27.2020 | 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 8.25.2020 | Top Story: U.S. and China Resume Trade Talks Over Phase One Status

BY: Michael D. Reif | August 25, 2020

Despite an earlier White House promise to postpone, American and Chinese trade negotiators met via videoconference on Monday to discuss “the status of the trade deal both nations signed in January, a pact that continues to open up some commerce between the world’s largest economies even as the bilateral relationship deteriorates in other areas” – … 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 8.19.2020 | 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