The tortuously negotiated and much-anticipated infrastructure bill that will commit $1 trillion to rebuilding the “nation’s roads, ports and power lines” officially became law on Monday. Here’s another look at what the final...more
Despite proclamations of “best and final offer” after the rejected last round of negotiations, the UAW said last Friday that Deere & Co. “had made modifications to an earlier agreement . . . , setting up another vote over...more
11/15/2021
/ Anti-Corruption ,
Bitcoin ,
Financial Markets ,
General Electric ,
Hospitality Industry ,
John Deere ,
JPMorgan Chase ,
Kaiser Permanente ,
Labor Shortage ,
Trade Relations ,
Union Representatives
Just days after U.S. corporate titan General Electric announced that it would divide itself into three companies, another storied American brand—Johnson & Johnson—laid out plans to “break itself up into two publicly traded...more
11/12/2021
/ Banking Regulators ,
Bitcoin ,
Crypto Exchanges ,
Cryptocurrency ,
E-Commerce ,
European Commission ,
Financial Markets ,
General Electric ,
Johnson & Johnson ,
Pharmaceutical Industry ,
Public Nuisance ,
Regulation X ,
Tesla
The inflation train continued its runaway pace in October, with the CPI rising 6.2%—the “sharpest increase” since 1990. The news is challenging politically for the administration but also for policymakers at the Fed, who are...more
11/11/2021
/ Americans with Disabilities Act (ADA) ,
Boeing ,
Department of Justice (DOJ) ,
Disney ,
Elon Musk ,
Financial Markets ,
Initial Public Offering (IPO) ,
Price Inflation ,
Securities and Exchange Commission (SEC) ,
Tesla ,
Uber
In a blow to Google and the rest of Big Tech, an EU appeals court has refused to “overturn a landmark antitrust ruling by European regulators” from 2017 over Google’s alleged “preferential treatment to its own...more
11/10/2021
/ Antitrust Violations ,
Big Tech ,
Competition ,
DoorDash ,
EU ,
Facebook ,
Financial Markets ,
Google ,
NYDFS ,
OK Supreme Court ,
Opioid ,
Prescription Drugs ,
Public Nuisance ,
Special Purpose Acquisition Companies (SPACs) ,
Technology Sector ,
Tesla ,
Zillow
General Electric, the “129-year-old industrial conglomerate” founded by Thomas Edison, will fracture into three separate publicly traded companies—the latest effort by the struggling behemoth and CEO Larry Culp to “simplify...more
It was a slog, to be sure, but Congress finally made President Biden’s infrastructure plan a reality late Friday, guaranteeing nearly “$600 billion in new federal aid to improve highways, bridges, dams, public transit, rail,...more
Jobs Report Friday again! And this one should be a doozy, as we look for what a wave of recent strikes, increased competition for workers, and millions of workers reconsidering career paths will mean for the numbers...more
11/5/2021
/ AT&T ,
Coronavirus/COVID-19 ,
Facebook ,
Financial Markets ,
Initial Public Offering (IPO) ,
Instagram ,
Jeff Bezos ,
NASA ,
Oil Prices ,
Securities and Exchange Commission (SEC) ,
Theranos ,
Uber ,
Verizon
All the details from the Fed’s long-awaited tapering announcement on Wednesday, in the central bank laid out a plan for slowing its Covid-era asset-buying program. During comments after the Fed’s release, Chair Powell...more
Prompted by concerns over privacy, “government investigation, a class-action lawsuit and regulatory woes,” Facebook is planning to “shut down its decade-old facial recognition system this month, deleting the face scan data of...more
11/4/2021
/ Apple ,
China ,
Data Collection ,
Department of Justice (DOJ) ,
Dow Jones ,
Facebook ,
Facial Recognition Technology ,
Financial Markets ,
John Deere ,
NLRB ,
S&P ,
Tesla ,
Yahoo! ,
Zillow
E-truck maker Rivian Automotive, the Amazon- and Ford-backed startup that’s “received roughly $10.5 billion since the start of 2019” as a private company, is seeking a valuation of “just above $60 billion in its initial...more
11/2/2021
/ Amazon ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Financial Markets ,
Initial Public Offering (IPO) ,
Institutional Investors ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Startups ,
U.S. Treasury ,
Zillow
Barclay’s CEO Jes Staley is stepping down immediately after a two-year investigation by the UK’s Financial Conduct Authority and the Prudential Conduct Authority into Staley’s “relationship with the disgraced financier...more
11/1/2021
/ Apple ,
Barclays ,
Facebook ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
G20 ,
GameStop ,
John Deere ,
Microsoft ,
Prudential Regulation Authority (PRA) ,
Remote Working ,
Tariffs ,
Unions
Q3 GDP data showed the full impact of the Delta variant and supply chain issues on America’s economic recovery, with GDP rising just 2% in the quarter ending September 30 as compared to the 6.7% it grew on an annualized basis...more
Facebook has issued a broad legal hold to employees instructing them to “preserve internal documents and communications since 2016” about its business following “intense media, legal and regulatory scrutiny over the social...more
A Mozambique-based tuna-fishing deal gone wrong has left Credit Suisse holding the bag to the tune of $475 million—the total in fines it will pay US and UK authorities to a foreign bribery investigation linked to the tuna...more
10/20/2021
/ Bitcoin ,
Department of Justice (DOJ) ,
Facebook ,
Financial Markets ,
Immigration and Nationality Act ,
IRS ,
Netflix ,
NYSE ,
UK Brexit ,
Unemployment ,
Wire Fraud
The SEC was out Monday with a long-awaited report on the meme-stock frenzy that helped propel GameStop and a handful of other “little-regarded” companies to meteoric rises in the depths of our first Covid winter. The report,...more
10/20/2021
/ Amazon ,
American Rescue Plan Act of 2021 ,
Apple ,
China ,
Coronavirus/COVID-19 ,
Cybersecurity ,
Financial Markets ,
Internet Memes ,
Investors ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Starbucks ,
Stocks ,
Zillow
Hollywood’s behind-the-scenes “version of blue-collar workers—camera operators, makeup artists, prop makers, set dressers,” and their ilk—reached a “tentative agreement for a new three-year contact with film and television...more
10/18/2021
/ CFTC ,
China Securities Regulatory Commission (CSRC) ,
Competition ,
Coronavirus/COVID-19 ,
Digital Currency ,
Entertainment Industry ,
Facebook ,
Financial Markets ,
Goldman Sachs ,
Instagram ,
Labor Relations ,
Social Media ,
Stablecoins ,
Strike ,
Unions
Microsoft-owned LinkedIn is shuttering its grand experiment in the Chinese marketplace, citing “a significantly more challenging operating environment and greater compliance requirement.” The pull out “completes the fracture...more
10/15/2021
/ Amazon ,
Chapter 11 ,
China ,
Climate Change ,
Financial Markets ,
General Data Protection Regulation (GDPR) ,
Johnson & Johnson ,
LinkedIn ,
NHTSA ,
Tesla ,
USTR ,
WTO
In unsurprising news to regular Daily Dose readers, consumer prices jumped 5.4% in September as compared to a year before, with “food, rent and furniture costs surging as a limited supply of housing and a shortage of goods...more
Labor Department figures out Tuesday showed that a record 4.3 million U.S. workers voluntarily quit their jobs in August, “up from four million in July and . . . by far the most in the two decades the government has been...more
10/13/2021
/ Amazon ,
American Airlines ,
Apple ,
Department of Labor (DOL) ,
Employer Mandates ,
Financial Markets ,
General Motors ,
Governor Abbott ,
Hasbro ,
Mergers ,
Price Inflation ,
Southwest Airlines ,
Vaccinations
Southwest Airlines canceled hundreds more flights to start the week, though its operations were closer to normal after a weekend that saw the carrier nix almost 2000 flights. The company blamed a mix of weather problems, “air...more
Jobs Report Friday! Here’s what analysts are looking for in the numbers, with the Delta variant’s impact on the recovery still looming large - MarketWatch and NYTimes and WSJ and Bloomberg Elon Musk & Co. are decamping from...more
10/11/2021
/ Biden Administration ,
BlackRock ,
China ,
Comcast ,
Corporate Taxes ,
Cryptocurrency ,
Economic Injury Disaster Loans ,
Financial Markets ,
Institutional Investors ,
SBA ,
Tax Avoidance ,
Tesla
Apple has officially appealed the September verdict in its years-long battle with Epic Games that was set to “require the tech giant to tweak its strict App Store rules and force it to allow app developers of ways to pay for...more
10/11/2021
/ Apple ,
Banking Sector ,
Biden Administration ,
Climate Change ,
Competition ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Financial Markets ,
Hasbro ,
Oil & Gas ,
Securities and Exchange Commission (SEC) ,
Startups ,
Stock Markets ,
Tesla
Live-video streaming site Twitch, an Amazon company, revealed on Wednesday that it “had endured a data breach that security researchers believe may have provided sweeping insight into the platform’s computer code, security...more
Recapping Facebook whistleblower’s testimony before the Senate on Tuesday, in which she “gave lawmakers an unvarnished look into the inner workings of the world’s largest social network . . . and detailed how the company was...more