The Fed Chair waiting game is officially over, with the White House affirming its confidence in Chair Powell on Monday by indicating that it will renominate him to another 6-year term at the helm of the central bank. ...more
11/23/2021
/ Administrative Appointments ,
Biden Administration ,
Charitable Donations ,
Comcast ,
Department of Labor (DOL) ,
Federal Contractors ,
Federal Reserve ,
Final Rules ,
Gas Prices ,
Hulu ,
Internet Streaming ,
Jeff Bezos ,
JPMorgan Chase ,
Minimum Wage ,
Oil Reserves ,
Tesla ,
Theranos ,
Wage and Hour
We thought that more regulatory action was in the offing for Wells Fargo, and the OCC definitely delivered, hitting Wells on Thursday with an additional $250 million fine for “unsatisfactory remedial progress” in addressing...more
9/10/2021
/ Amazon ,
Biden Administration ,
China ,
Coronavirus/COVID-19 ,
Federal Reserve ,
Financial Markets ,
Fines ,
Ford Motor ,
OCC ,
OSHA ,
Ponzi Scheme ,
Wells Fargo
Coinbase, the “largest cryptocurrency exchange” in the U.S., revealed on Wednesday that SEC officials are threatening to sue it “over a proposed financial product that would let customers earn interest on digital asset...more
9/10/2021
/ Bitcoin ,
Bonds ,
Coinbase ,
Consumer Financial Products ,
Cryptocurrency ,
El Salvador ,
Federal Reserve ,
Financial Markets ,
Fraud ,
Mergers ,
Securities and Exchange Commission (SEC)
Fed officials wrapped their June meeting yesterday with the news that “they expected to raise interest rates from rock bottom sooner than they had previously forecast.” That translates to a potential two incremental increases...more
6/17/2021
/ Affordable Housing ,
Anticompetitive Behavior ,
Cannabis-Related Businesses (CRBs) ,
Clean Energy ,
Department of Justice (DOJ) ,
Electric Vehicles ,
Federal Reserve ,
Interest Rates ,
Investment Opportunities ,
Merger Controls ,
Microsoft ,
Real Estate Development ,
Rebranding ,
Southwest Airlines ,
Special Purpose Acquisition Companies (SPACs) ,
Victoria Secret
The Federal Reserve’s “first-ever foray into the corporate bond market” will wrap up by the end of the year, with the central bank pledging to sell off all of the ETF-investments and direct bond holdings it began purchasing...more
6/3/2021
/ Activist Investors ,
Blockchain ,
Corporate Bonds ,
Corporate Taxes ,
Cybersecurity ,
Decentralized Finance (DeFi) ,
Economic Development ,
ETFs ,
Exxon Mobil ,
Federal Reserve ,
Financial Services Industry ,
Foreign Investment ,
International Labor Organization (ILO) ,
Job Creation ,
Meat Processing Plants ,
Ransomware ,
Tariffs ,
Tyson Foods
A weeks long slide for Bitcoin and other cryptos turned into a “frenzied selloff” on Wednesday, crashing the digital currencies back to earth after what had been a pandemic year of impressive gains....more
5/20/2021
/ Bitcoin ,
Cryptocurrency ,
Electric Vehicles ,
Federal Reserve ,
Ford Motor ,
Generic Drugs ,
Hedge Funds ,
Inflation Adjustments ,
Initial Public Offering (IPO) ,
Martin Shkreli ,
McDonalds ,
Pipelines ,
Ransomware
Despite the reemergence of inflation and bubbles as the concerns-of-the-day that caused markets to quiver their way to a 3-month low yesterday, Fed officials remained committed to their “wait and see” strategy on removing...more
5/12/2021
/ Antitrust Violations ,
App Store ,
Apple ,
Artificial Intelligence ,
Bankruptcy Court ,
Biden Administration ,
Census ,
CFTC ,
Chapter 11 ,
China ,
Clean Energy ,
Commercial Bankruptcy ,
Consumer Price Index ,
Criminal Investigations ,
Deutsche Bank ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Google ,
Inflation Adjustments ,
Job Creation ,
Legislative Agendas ,
Mobile Apps ,
NRA ,
OCC ,
Renewable Energy ,
Sales Commissions ,
True Lender ,
UK ,
Unemployment ,
Whistleblower Awards
Treasury Secretary Yellen perhaps inadvertently dipped back into Fed Chair mode for a bit on Tuesday, acknowledging that some movement in interest rates may be necessary to “keep the economy from overheating given the large...more
5/5/2021
/ Apple ,
China ,
Criminal Prosecution ,
Electric Vehicles ,
EPIC ,
Federal Reserve ,
Fraud ,
Goldman Sachs ,
Grants ,
Inflation Adjustments ,
Initial Public Offering (IPO) ,
Interest Rate Adjustments ,
Nonprofits ,
Pfizer ,
Quarterly Report ,
Theranos ,
Vaccinations
It didn’t come as a feature of the big Berkshire Hathaway shareholder extravaganza over the weekend, but Mr. Buffett made news nonetheless by revealing in an interview with CNBC that Gregory Abel ...more
5/4/2021
/ Acquisition Agreements ,
AOL ,
Apple ,
Automotive Industry ,
Berkshire Hathaway ,
Construction Project ,
Economic Downturn ,
Enforcement Actions ,
EPIC ,
Failure To Disclose ,
Federal Reserve ,
LA Times ,
Securities and Exchange Commission (SEC) ,
Supply Chain ,
Verizon ,
Yahoo!
The Fed’s Open Market Committee meeting broke yesterday leaving rates at near-zero and pledging to “continue buying government-backed bonds at a steady pace as it tries to support the economy’s recovery from the coronavirus...more
4/29/2021
/ Administrative Appointments ,
Administrative Resignation ,
AOL ,
Apple ,
Biden Administration ,
Big Tech ,
Chipotle Grill ,
Earnings Reports ,
Economic Growth ,
Elon Musk ,
Exxon Mobil ,
Facebook ,
Federal Reserve ,
Ford Motor ,
Human Rights ,
Interest Rate Adjustments ,
Labor Law Violations ,
Legislative Agendas ,
Microchip Technology ,
Recovery Plans ,
Securities and Exchange Commission (SEC) ,
Supply Chain ,
Verizon ,
Work Schedules ,
Yahoo!
Big bank earnings season kicked off this week, and impressive Q1 results from JPMorgan, Goldman Sachs, and Wells Fargo has Wall Street feeling especially bullish. This, despite “sobering signs,” including climbing infections...more
4/15/2021
/ Amazon Marketplace ,
Banks ,
Bernie Madoff ,
Bonds ,
CBS ,
Coinbase ,
Federal Reserve ,
Fine Art ,
Internet Retailers ,
Ponzi Scheme ,
Quarterly Report ,
Securities and Exchange Commission (SEC) ,
Share Price
PE firm CVC Capital Partners has made an unsolicited bid to acquire Japan’s Toshiba Corp. “in a deal that could be valued at more than $20 billion if completed.” The proposal, which would need Japanese government approval...more
4/8/2021
/ Airlines ,
Bonds ,
Credit Cards ,
DoorDash ,
Federal Reserve ,
Financial Services Industry ,
Hong Kong ,
IKEA ,
Interest Rates ,
JPMorgan Chase ,
Microchip Technology ,
Retail Market ,
Supply Chain ,
Target ,
Tax Reform ,
Toshiba ,
Toyota
Intel has unveiled plans to spend $20 billion to build two new chip manufacturing factories near existing facilities in Arizona—a “surprise bet that could please government officials worried about component shortages and...more
3/24/2021
/ Amazon Marketplace ,
Disney ,
Federal Reserve ,
Hartford Insurance Company ,
Inflation Adjustments ,
Initial Public Offering (IPO) ,
Intel ,
Internet Streaming ,
Janet Yellen ,
Manufacturing Facilities ,
Maritime Transport ,
Microchip Technology ,
Mobile Apps ,
Movies ,
Robinhood Financial ,
Takeover Bids ,
Television Commercials ,
Wells Fargo
The Biden administration is reportedly preparing a series of infrastructure, anti-inequality, environmental, and family-focused initiatives that could involve a combined $3 trillion of spending, though details “remain in...more
3/23/2021
/ Biden Administration ,
Citibank ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Goldman Sachs ,
Initial Public Offering (IPO) ,
Janet Yellen ,
Legislative Agendas ,
Microsoft ,
Private Equity ,
Relief Measures ,
Resignation
Mega rail news to start our week, as Canadian Pacific will joined forces with Kansas City Southern in a $25 billion deal, “creating the first railroad to traverse Canada, the U.S. and Mexico.” Industry watchers suggest that...more
3/22/2021
/ Anti-Competitive ,
Antitrust Violations ,
AstraZeneca ,
Capital Requirements ,
CFTC ,
Coinbase ,
Coronavirus/COVID-19 ,
Crypto Exchanges ,
Data Collection ,
Department of Justice (DOJ) ,
E-Commerce ,
Federal Reserve ,
Financial Stimulus ,
Infectious Diseases ,
Initial Public Offering (IPO) ,
Special Purpose Acquisition Companies (SPACs) ,
Tesla ,
Turkey ,
Vaccinations ,
Visa Inc ,
Volkswagen
The latest and greatest from Fed Chair Powell as the Fed’s March Open Markets Committee meeting wrapped yesterday, including a markets-pleasing assurance that better-than-expected economic growth wasn’t enough to push the...more
3/18/2021
/ Administrative Appointments ,
Aircraft ,
Biden Administration ,
Boeing ,
Coronavirus/COVID-19 ,
Disney ,
Federal Aviation Administration (FAA) ,
Federal Reserve ,
Filing Deadlines ,
Financial Markets ,
Financial Services Industry ,
GameStop ,
Infectious Diseases ,
Interest Rates ,
IRS ,
Retail Investors ,
Stock Trades ,
Supply Chain ,
Tax Returns
Purdue Pharma has outlined its own plan to remove Sackler family control and restructure the pharmaceutical giant on the other side of bankruptcy—a 300-page effort that amounts to the company’s “formal bid to end thousands of...more
3/16/2021
/ Alibaba ,
Artificial Intelligence ,
Biden Administration ,
Coronavirus/COVID-19 ,
Corporate Restructuring ,
Federal Reserve ,
Financial Markets ,
Financial Stimulus ,
Google ,
Hospitality Industry ,
Infectious Diseases ,
Investment ,
Opioid ,
Pharmaceutical Industry ,
Purdue Pharma ,
Radio Stations ,
Real Estate Transactions ,
Share Price ,
Unemployment ,
Volkswagen
In the wake of McKinsey’s $600 million settlement with states over sales advice it had given drugmakers on opioids, partners at the consulting powerhouse have voted out the firm’s top executive, Kevin Sneader. ...more
2/25/2021
/ CBS ,
Child Care ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Federal Contractors ,
Federal Reserve ,
Financial Services Industry ,
GameStop ,
Infectious Diseases ,
Internet Streaming ,
Market Manipulation ,
Market Volatility ,
Opioid ,
SoftBank ,
Stock Prices ,
Unemployment ,
USPS ,
Viacom
Your Federal Reserve update based on Chair Powell’s testimony before the Senate Banking Committee on Tuesday, including pushing back against concerns that the “economy is on the cusp of running too hot” ...more
2/24/2021
/ Amazon Marketplace ,
Audits ,
Bitcoin ,
Bonds ,
Capital Markets ,
Corruption ,
Cryptocurrency ,
Ether ,
Federal Reserve ,
GameStop ,
Gender Discrimination ,
Interest Rate Adjustments ,
McDonalds ,
PricewaterhouseCoopers ,
Retaliation ,
Square ,
Stock Prices ,
Whistleblowers
After more than half a year without a leader, the WTO is poised to welcome its “first woman and first African” to the role in the form of Nigerian economist and former finance minister Dr. Ngozi Okonjo-Iweala. ...more
2/16/2021
/ American Express ,
Apple ,
Biden Administration ,
Big Tech ,
Bristol-Myers Squibb ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Credit Cards ,
Department of Justice (DOJ) ,
Economic Downturn ,
Facebook ,
Federal Reserve ,
Fraudulent Marketing ,
Goldman Sachs ,
Google ,
Infectious Diseases ,
Infrastructure ,
Interest Rates ,
Investment Portfolios ,
Nissan ,
OCC ,
Pharmaceutical Industry ,
Recovery Plans ,
Robinhood Financial ,
Sanofi ,
Severe Weather ,
Small Business ,
Tesla ,
White Collar Crimes ,
WTO
In a much-anticipated [well, for some of us central bank nerds, at least] to the Economic Club of NY, Fed Chair Powell on Wednesday acknowledged that pent-up consumer demand unlocked by a big government stimulus package could...more
2/11/2021
/ Biden Administration ,
Business Losses ,
China ,
Citigroup ,
Coronavirus/COVID-19 ,
Corruption ,
Cryptocurrency ,
Dating Services ,
Federal Reserve ,
Fidelity Investments ,
Financial Markets ,
GameStop ,
General Motors ,
Infectious Diseases ,
Initial Public Offering (IPO) ,
Investment ,
Job Creation ,
Manufacturers ,
Merck ,
Robinhood Financial ,
Uber ,
Unemployment ,
Vaccinations ,
Vanguard
After months of drama that we dutifully catalogued right here, the U.S. plan to “force the sale of TikTok’s American operations” to Oracle and Walmart “has been shelved indefinitely.” The forced sale has “languished since...more
2/10/2021
/ Abuse of Discretion ,
Arbitrary and Capricious ,
Biden Administration ,
China ,
Commercial Leases ,
Coronavirus/COVID-19 ,
Corporate Branding ,
Eli Lilly ,
FCC ,
Federal Reserve ,
Financial Markets ,
Financial Stimulus ,
Huawei ,
Infectious Diseases ,
Interest Rates ,
Main Street Lending Programs ,
Mobile Apps ,
National Security ,
Oracle ,
Poverty ,
Race Relations ,
Relief Measures ,
Salesforce ,
Securities and Exchange Commission (SEC) ,
Social Media ,
Special Purpose Acquisition Companies (SPACs) ,
TikTok ,
Wal-Mart ,
Workplace Romances
U.S. drug giant Merck is shuttering its coronavirus vaccine development “after early trial data showed [its pair of vaccines] failed to generate immune responses comparable to natural infection or existing vaccines.” ...more
1/25/2021
/ Administrative Appointments ,
Amazon Marketplace ,
Antitrust Violations ,
Bank of America ,
Biden Administration ,
Citibank ,
Clinical Trials ,
Coronavirus/COVID-19 ,
Deutsche Bank ,
DuPont ,
Federal Reserve ,
FOMC ,
Hiring & Firing ,
Infectious Diseases ,
Initial Public Offering (IPO) ,
Internet Streaming ,
Janet Yellen ,
JPMorgan Chase ,
Layoffs ,
Merck ,
NBC ,
Pharmaceutical Industry ,
Postmates ,
Special Purpose Acquisition Companies (SPACs) ,
Vaccinations
A big jump in unemployment claims, as reported yesterday, confirmed fears that a “resurgent pandemic” is challenging U.S.’s economic recovery. Some 1.15 million workers filed initial claims for state unemployment benefits...more
1/15/2021
/ Antitrust Provisions ,
Biden Administration ,
CARES Act ,
Cisco ,
Coronavirus/COVID-19 ,
Emergency Management Plans ,
Federal Reserve ,
Fitbit ,
General Electric ,
Google ,
Infectious Diseases ,
Interest Rate Adjustments ,
Misappropriation ,
Oil & Gas ,
Paycheck Protection Program (PPP) ,
Siemens ,
TikTok ,
Trade Secrets ,
Unemployment
The Fed’s Open Markets Committee meeting wrapped on Wednesday, and in remarks following the meeting, Fed Chair Powell called the case for fiscal policy right now “very, very strong,”—a not-so-subtle nudge to Congress to act...more
12/17/2020
/ Accounting Fraud ,
Apple ,
AT&T ,
Bitcoin ,
Coronavirus/COVID-19 ,
Facebook ,
Federal Reserve ,
Financial Stimulus ,
Google ,
HBO ,
Infectious Diseases ,
iPhone Tracking ,
Legislative Agendas ,
Monopolization ,
Online Advertisements ,
Relief Measures ,
Roku ,
Securities and Exchange Commission (SEC)