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Markets Tank & Oil Skyrockets as U.S. Mulls Ending Russian Crude Imports

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A weekend of skyrocketing oil prices prompted by talk of the U.S. cutting off all Russian crude imports pushed markets to their worst performance in over a year to start the week. The Nasdaq is now down more than 20% from its...more

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Financial Daily Dose 10.14.2020 | Top Story: WTO Allows EU to Impose $4B in Tariffs Over U.S. Boeing Subsidies

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The WTO—already on shaky ground with the White House—did little to endear itself on Tuesday with a decision giving the EU “permission to impose tariffs on $4 billion worth of American products annually in retaliation for...more

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Financial Daily Dose 9.29.2020 | Top Story: House Unveils New $2.2T Covid Stimulus Bill

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House leaders are out with a new Covid stimulus effort—slimmed down from earlier packages but, at $2.2 trillion, a sizeable proposal that they say “is needed to support American households and businesses still experiencing...more

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Financial Daily Dose 2.6.2020 | Top Story: Feds Probing Google’s Ad Business Over Antitrust Concerns

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More detail is emerging on the DOJ’s ongoing antitrust probe into Google, with recent attention to the company’s online ad tools suggesting the topic has become “a major focus of the investigation,” with special focus on “how...more

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Financial Daily Dose 1.17.2020 | Top Story: Senate Passes USMCA by Wide Margin to Update NAFTA

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While there’s plenty of other business afoot in D.C. these days, it also happens to have been a pretty big week for trade deals. A day after Phase One with China was inked, the Senate overwhelmingly approved a revised...more

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Financial Daily Dose 12.13.2019 | Top Story: US Announces Phase One Trade Agreement With China, But No Confirmation From Chinese

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The US and China have reportedly reached an initial agreement on the “final terms of a phase one trade deal, moving both countries closer to signing a pact that” the White House originally announced in October and averting...more

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Financial Daily Dose 12.04.2019 | Top Story: Google Co-founders Step Down From Executive Roles at Parent Alphabet

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Google announced late Tuesday that co-founders Larry Page and Sergey Brin are “stepping down from executive roles at Google’s parent company, Alphabet.” Google CEO Sundar Pichai will now helm both operations, while Page and...more

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Financial Daily Dose 11.21.2019 | Top Story: UAW President Resigns After GM Accuses Fiat Chrysler of Bribery

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More than a bit of drama in the auto world yesterday, with General Motors suing rival Fiat Chrysler, accusing it of “bribing United Auto Workers officials to gain competitive advantages in contract negotiations.”  The UAW’s...more

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Financial Daily Dose 11.16.2019 | Top Story: Aramco Seeks Valuation of $1.7B, Well below Original Goal

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Saudi Aramco’s slow trickle of IPO-related information continued this weekend, including its goal of setting overall company market value at a staggering $1.7 trillion. The figure, though massive, is still well short of the...more

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Financial Daily Dose 11.15.2019 | Top Story: New Jersey Targets Uber Over “Independent Contractor” Worker Classification

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Sending a shot across the bow of the gig economy, New Jersey is seeking nearly $650 million from Uber for “years of unpaid employment taxes for its drivers, arguing that the ride-hailing company has misclassified the workers...more

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Financial Daily Dose 11.14.2019 | Top Story: Fed Chair Talks Economy and Rates During Congressional Testimony

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Fed Chair Powell was far from the main attraction on the Hill yesterday, but hey, let’s keep it on topic here and note his belief that the U.S. economy is performing well even as certain risks—including “sluggish growth...more

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Financial Daily Dose 11.13.2019 | Top Story: Buffeted by Changing Consumer Demands, Dean Foods Declares Bankruptcy

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Dean Foods, the largest milk company in the U.S., has filed for bankruptcy protection, a “fresh setback to a U.S. dairy industry struggling against declining U.S. milk consumption and rising competition.”  Industry experts...more

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Financial Daily Dose 11.08.2019 | Top Story: US and China Set to Roll Back Tariffs as Part of Trade Deal First Phase

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The U.S. and China have tentatively [maybe?] agreed that a first phase of a trade agreement “would roll back a portion of the tariffs placed on each other’s products, a significant step toward defusing tensions between the...more

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Financial Daily Dose 9.13.2019 | Top Story: ECB Cuts Rates and Restarts QE in Effort to Preempt European Downturn

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The ECB was even more aggressive than expected in its moves to “head off a downturn before it gained momentum,” cutting a key interest rate and reviving “a money-printing program.” At the same time, the central bank “issued...more

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Financial Daily Dose 9.5.2019 | Top Story: YouTube Fined $170 Million for Violating Kids’ Privacy Law

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Google will pay a “record $170 million fine and make changes to protect children’s privacy on YouTube” as part of a deal it reached this week with the FTC and NY AG’s office, both of whom had accused YouTube of “violating the...more

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Financial Daily Dose 6.27.2019 | Top Story: DOJ Criminal Inquiry Into Chicken Industry Price Fixing

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The DOJ has jumped on board claims made in existing civil class-action lawsuits and is considering criminal price-fixing charges against “some of the biggest American poultry companies, including Tyson Foods and Pilgrim’s...more

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Financial Daily Dose 6.7.2019 | Top Story: Markets Keep Eye on US Jobs Report

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Jobs Report Friday again! Lots to look for in the numbers this month, especially considering the economic uncertainty that’s defined the past few weeks....more

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Financial Daily Dose 5.21.2019 | Top Story: FCC Approves T-Mobile/Sprint Merger

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FCC Chair Ajit Pai gave his agency’s stamp of approval to the pending $26 billion T-Mobile/Sprint merger on Monday, helping move the deal towards completion based on pledges from the companies to develop “a robust 5G network...more

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Financial Daily Dose 5.20.2019 | Top Story: Google and Chipmakers Ditch Huawei

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Google parent company Alphabet [and a host of chipmakers] formally suspended all business with Huawei “that requires the transfer of hardware, software and technical services except those publicly available via open source...more

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Financial Daily Dose 5.15.2019 | Top Story: Disney to Assume Full Control of Hulu

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Disney will take total control of the TV and movie streaming service Hulu after forking over at least $5.8 billion to buy out last remaining partner, Comcast. That price won’t be determined for a while, though, as the sale...more

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Your Daily Dose of Financial News

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Kraft Heinz dropped a double-whammy on investors on Thursday, announcing a $15 billion charge against its Kraft and Oscar Mayer brands and revealing news of an SEC subpoena related to the company’s accounting practices....more

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Your Daily Dose of Financial News

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A quick spin through the Fed’s December minutes shows that most Fed officials are set on slowing their previously regular rate hike schedule, only reinforcing the message that Fed Chair Powell delivered last week that the...more

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Your Daily Dose of Financial News

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Prime Minister Theresa May has proven herself to be a remarkably good political survivor in the face of tall odds, but even she will have a difficult time this time around. Members of her own Tory party have called for a...more

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Your Daily Dose of Financial News

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With the phrase “humiliating defeat” being bandied about quite freely by opposition leaders and Tory backbenchers alike, PM May delayed a parliamentary vote for her EU-backed Brexit plan that had been set for today. The...more

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Your Daily Dose of Financial News

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Dealbook gives us this uncomfortable take on China’s “nuclear option” in the trade war with the United States—its holdings of more than $1 trillion in US foreign debt and the possibility of stepping back from buying (or even...more

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