Tag Archives: Zoom

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 8.25.2020 | 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 6.30.2020 | Top Story: Supreme Court Allows President to Fire CFPB Director, Lets Agency Remain

BY: Michael D. Reif | June 30, 2020

By a 5-4 margin, the Supreme Court has ordered the restructuring of the Consumer Financial Protection Bureau, “ruling the agency’s structure was unconstitutional because its director held too much unchecked power.” The fix, according to the Court, is allowing the President to remove the CFPB’s director “for any reason,” which it deemed sufficient to reject … Continue reading

Financial Daily Dose 6.8.2020 | Top Story: Bureau of Labor Statistics Admits Massive Undercount of May Jobless Figures

BY: Michael D. Reif | June 8, 2020

So about those May jobs numbers . . . . The return of 2.5 million jobs in May was a welcome and largely unexpected surprise. But the Bureau of Labor Statistics admitted later on Friday that the unemployment rate—reported as falling from 14.7% in April to 13.3% in May—“would have been three percentage points higher … 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 6.2.2020 | Top Story: CBO Projects Decade of Recovery and GDP-Contraction From Pandemic-Induced Econ Harm

BY: Michael D. Reif | June 2, 2020

New estimates from the Congressional Budget Office suggest that the “U.S. economy could take the better part of a decade to fully recover from the coronavirus pandemic and related shutdown” and see as much as a 3% contraction in GDP over that period – WSJ and NYTimes and MarketWatch Zuck and Co. are facing a … Continue reading

Financial Daily Dose 5.14.2020 | Top Story: Fed Chair Warns About US Economy, Urges Congressional Action

BY: Michael D. Reif | May 14, 2020

The latest from Chair Powell and the Fed from his Peterson Institute appearance yesterday, including the stark warning that the U.S. was “experiencing an economic hit ‘without modern precedent’” that could “permanently damage the economy if Congress and the White House did not provide sufficient financial support to prevent a wave of bankruptcies and prolonged … 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 4.21.2020 | Top Story: Oil Prices Dip to Negative as Global Demand Dries Up During Pandemic

BY: Michael D. Reif | April 21, 2020

Monday saw U.S. oil prices take an unprecedented plunge into negative territory, as “concerns grew that storage tanks in the United States were near capacity and unable to hold all the unused code” (with the “bizarre movement . . . exaggerated by a quirk in the way oil prices are set”) – NYTimes and WSJ … Continue reading

Financial Daily Dose 4.14.2020 | Top Story: SoftBank warns of likely $17 billion loss for its tech-focused Vision Fund

BY: Michael D. Reif | April 14, 2020

All is not coming up aces for Masa Son and his faltering SoftBank empire, which warned investors on Monday of a coming $16.7 billion loss to its landmark Vision Fund, the tech-focused venture that’s been hammered by “the fallout from the coronavirus and by big bets on unprofitable companies like WeWork” – NYTimes and WSJ … Continue reading