Financial Daily Dose 3.6.2020 | Top Story: Volatility Reigns as Stocks Dive Over Continued COVID-19 Fears

Robins Kaplan LLP
Contact

Robins Kaplan LLP

Volatility’s the name of the game again, folks, and we have COVID-19 to thank. Just a day after markets jumped in response to central bank and Super Tuesday news, the dove again some 3% as virus-related fears took hold again – NYTimes and WSJ and Bloomberg and MarketWatch

Soooooo . . . . who’s excited about the trading day? – MarketWatch

The growing outbreak has forced businesses around the globe to scramble to launch and enforce response plans to a situation unlike any for which most of them have ever planned – NYTimes and WSJ

February jobs numbers are out today. Here’s what we’re watching for in the numbers, including the potential for early virus impact – NYTimes and WSJ

A North Carolina jury found insurance mogul and “self-proclaimed billionaire” Greg Lindberg guilty of bribery charges this week after determining that he “had attempted to bribe North Carolina’s insurance commissioner by promising $2 million in campaign donations to obtain favorable regulatory treatment.” Lindberg built a business empire in recent years that was “fueled in part by an unusual stream of loans from his insurance companies” – WSJ and Law360

JPMorgan’s Jamie Dimon underwent emergency heart surgery this week, and while all apparently went well, the scare thrust the bank’s succession planning into the spotlight—especially in this time of COVID-19-induced volatility – Bloomberg and NYTimes and WSJ

Boeing’s new CEO, David Calhoun, sits down with the Times and brings an unexpected level of candor, admitting that challenges facing the 737Max maker are “even worse than he had thought” – NYTimes and WSJ

Former United Auto Workers president Gary Jones has been charged with embezzlement and other crimes by federal prosecutors who accused Jones of “conspiring in the misuse of more than $1 million of union money for extravagant meals, golf outings, cigars and apparel over several years, even before he was elected president in 2018.” The charges may help justify a federal takeover of the union – NYTimes and Law360

Kraft Foods and Mondelez Global appear ready to pay $16 million to resolve “regulatory allegations” by the CFTC that they “manipulated the market for wheat futures.” The deal, which is subject to Federal court approval, would resolve the “unusual” dispute among the parties, in which the companies accused the Commission of “violating an earlier settlement with them by commenting on it” – WSJ

Gap has named Sonia Syngal, currently Old Navy’s top executive, as the company’s new CEO effective March 23. Syngal has been Old Navy’s CEO since 2016, and she’s expanded the store’s North American footprint and its e-commerce offerings during her tenure – WSJ and Bloomberg

Some timely PSA-style tips on HOW TO STOP TOUCHING YOUR FACE – NYTimes

Have a great weekend.  Maybe a little Tourney Time?

Written by:

Robins Kaplan LLP
Contact
more
less

Robins Kaplan LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide