While not mandating vaccines for its employees, Delta Airlines announced on Wednesday that it would begin charging unvaxxed workers enrolled in its healthcare program a monthly $200 surcharge, require Covid testing, and...more
8/26/2021
/ Asset Management ,
Coronavirus/COVID-19 ,
Delta Airlines ,
Department of Justice (DOJ) ,
Facebook ,
Fashion Industry ,
Financial Markets ,
Initial Public Offering (IPO) ,
Rental Assistance Programs ,
Securities and Exchange Commission (SEC) ,
Vaccinations
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
Markets used news of the FDA’s full approval of the Pfizer BioNTech coronavirus vaccine as the excuse they needed to jump back up after a few days of losses. All three major indices were up near the 1% range, with the Nasdaq...more
A California state court judge dealt Uber, Lyft, and the rest of gig-economy employers a blow on Friday, ruling that the recent Prop. 22-driven state law “that ensures many gig workers are considered independent contractors,...more
The Federal Trade Commission refiled its antitrust lawsuit against Facebook on Thursday 2 months after a federal judge dismissed the agency’s original case. The updated action repeated many of the same allegations against...more
8/20/2021
/ Amazon ,
Antitrust Investigations ,
Brick-and-Mortar Stores ,
CFTC ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
E-Commerce ,
Facebook ,
Financial Markets ,
Initial Public Offering (IPO) ,
Johnson & Johnson ,
Toyota
T-Mobile, the nation’s second-largest wireless carrier, has now confirmed that the cyberattack we reported earlier this week did indeed expose the personal information of some 48 million people—some of it including social...more
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
Hyatt Hotels revealed plans this weekend to buy resort company Apple Leisure Group from PE owners KKR and KSL Capital Partners for a reported $2.7 billion. The move is “the latest sign of optimism about a return to vacation...more
8/16/2021
/ Apple ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Digital Currency ,
Financial Markets ,
FinTech ,
Google ,
Huawei ,
Institutional Investors ,
International Trade Commission (ITC) ,
NASA ,
Patent Infringement ,
Startups
While the Delta variant threatens Disney’s big theme park reopenings (and its recent return to profit in that sector after a year in the red), Big Mouse’s streaming service continues to deliver. Disney+ wrapped its fiscal Q3...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
As expected but slightly hard to believe given where things stood just months ago, the U.S. Senate managed to pass a bipartisan $1 trillion infrastructure bill on Tuesday, with 19 Republicans joining Democrats in approving...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 union news on Monday, with a NLRB hearing officer advocating for the Board to set aside the results of an early April union election at the Amazon warehouse in Bessemer, Alabama based on the ‘zon allegedly “illegally...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
The Biden Administration has nominated prominent Google critic Jonathan Kanter to lead the DOJ’s antitrust division. Kanter is “a longtime antitrust lawyer who has represented companies that argue they have been harmed by the...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