Forget Big Brother and meet Big Parent, as Beijing released new strict limits “on how long minors can play online video games” on Monday. The rules, which bar kids and teens from online gaming on school days and limit them to...more
8/31/2021
/ China ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Markets ,
Jury Selection ,
NLRB ,
Online Gaming ,
Securities and Exchange Commission (SEC) ,
Starbucks ,
Unions ,
Video Games ,
Zoom®
As we anticipated, Fed Chair Powell—appearing virtually at the annual Jackson Hole gathering of Fed officials and watchers—signaled the possibility of central bank bond-purchase tapering as early as this year. More notable,...more
Trendy eyewear-maker (and Daily Dose fave) Warby Parker revealed plans on Tuesday to go public via direct listing—the latest in a series of companies in recent months to sidestep the traditional IPO process in favor of the...more
8/25/2021
/ Direct Listing ,
Disney ,
Financial Institutions ,
Financial Markets ,
Goldman Sachs ,
Initial Public Offering (IPO) ,
Pensions ,
Spotify ,
TikTok ,
Unions ,
Vaccinations
Bill Ackman and his Pershing Square SPAC were on the receiving end of a “novel” lawsuit on Tuesday “that could have far-reaching implications for the SPAC industry.” The action argues that Ackman’s SPAC “isn’t an operating...more
The National Highway Traffic Safety Administration announced on Monday that it’s opening a probe into Tesla’s Autopilot driver-assistance system “because of growing concerns that it can fail to see parked emergency vehicles.”...more
That CPI data we were expecting yesterday hit analysts’ projections just about on the mark, with prices increasing 5.4% last month compared to a year earlier. Though undeniably high, that figure suggests that “gains are...more
New figures coinciding with last week’s banner jobs report showed that employers “once again posted a record number of job openings in June,” (some 10.1 million, up from 9.5 million in May), but they also saw companies making...more
Jobs Report Friday again! Here’s what we’re watching for in the numbers, including some thoughts on recent positive trends and how the Delta variant may upend them...more
Robinhood, the trading app that helped facilitate the pandemic-era rise of meme stock craziness, has gone meme-level itself this week, with its shares rising more than 65% at one point on Wednesday before Nasdaq briefly...more
SEC chief Gary Gensler announced this week that his Commission will use its “existing authority” to “regulate cryptocurrency markets to the maximum extent possible” in an effort to address the “fraud, scams and abuse” that...more
Big Tech earnings are in, and BIG remains the operative modifier. Apple saw its profits almost double in Q2, Microsoft had its most profitable quarter ever, and Alphabet’s revenue rose an incredible 62% compared to a year...more
U.S. insurance giants Aon and Willis Towers Watson have shelved their plans for a massive tie-up over an inability to resolve concerns raised by the DOJ’s antitrust division and a desire to avoid the lengthy timeline...more
A pair of the most prominent cryptocurrency exchanges announced this weekend that they’re taking steps to “curb a type of high-risk trading that has been blamed for sharp fluctuations in the value of Bitcoin and the...more
In a major departure, Amazon announced to customers this week that “it would no longer require them to resolve their legal complaints involving the technology giant through arbitration.” Consumer advocates cheered the news...more
As previewed earlier this week, four companies associated intimately with the opioid epidemic—three distributors and one drugmaker—have finalized a deal with state Attorneys General in which they will pay $26 billion to...more
Markets dove at the opening bell and never recovered on Monday, with all three major indices off between 1 and 2%--the most across the board since May. Most market watchers blamed concerns over the economic recovery stalling...more
Members of the OPEC+ coalition have reached a deal to increase oil production, a “move that could help ease the pressure on gas prices and inflation as economies around the world recover after pandemic lockdowns.” ...more
Chip-maker Intel is in late-stage talks to purchase rival GlobalFoundries for roughly $30 billion. If completed, the acquisition would be Intel’s largest and would help the company with its push into overseas markets. ...more
Back on the Hill on Tuesday before the House Financial Services Committee, Fed Chair Powell assured lawmakers that he was well-aware of yesterday’s CPI figures showing a 5.4% jump in prices and that inflation was “poised to...more
As expected, the CPI update for June made waves on Tuesday, with prices climbing some 5.4% last month—the biggest increase in over a decade. The jump led Federal Reserve and White House officials to issue statements to...more
Stung recently by the collapse of Greensill Capital and Archegos Capital Mgmt (the latter alone which cost it more than $5.5 billion), Credit Suisse recently “dissolved a longstanding personal lending relationship” with Masa...more
The District of Columbia sued Amazon on Tuesday for allegedly “artificially raising prices for products around the web by abusing its monopoly power.” The lawsuit represents yet another sign that regulators “are increasingly...more
Pittsburgh-based PNC Financial Services Group has reached a deal worth some $11.6 billion to buy the U.S. operations of BBVA, a Spanish lender. The mash-up, “one of the biggest banking deals since the 2008 financial crisis,”...more
11/16/2020
/ Administrative Resignation ,
Asia Pacific ,
Bank of England ,
Barclays ,
Berkshire Hathaway ,
Biden Administration ,
Coronavirus/COVID-19 ,
Cross-Selling ,
Data Breach ,
Data Protection Authority ,
DoorDash ,
Event Tickets ,
Financial Institutions ,
Free Trade Agreements ,
Infectious Diseases ,
Moderna Inc. ,
Operation Warp Speed ,
Personal Data ,
Pfizer ,
PNC ,
Presidential Appointments ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Share Buybacks ,
Student Loans ,
UK ,
Vaccinations ,
Wells Fargo ,
White Collar Crimes
German lender Deutsche Bank has reached a $150 million settlement with NY’s Department of Financial Services over its years long failure to “detect or prevent millions of dollars of suspicious transactions” from flowing...more
7/8/2020
/ Consumer Financial Protection Bureau (CFPB) ,
Deutsche Bank ,
Facebook ,
Financial Institutions ,
Financial Markets ,
Hate Speech ,
Hong Kong ,
Investment Adviser ,
NYDFS ,
Paycheck Protection Program (PPP) ,
Payday Lending Rule ,
Settlement ,
Suspicious Activities ,
Technology Sector
With the Treasury Department’s release of PPP data on Monday, we now have a clearer picture of the top recipients of the government’s “$660 billion small business relief program,” with “restaurants, medical offices and car...more