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Robins Kaplan LLP

Financial Daily Dose 2.12.2021 | Top story: Bumble Booms in Public Markets Debut

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Bumble hit markets on Thursday with considerable buzz, and markets validated that love, with company shares opening a mind-boggling $33 above its already-increased offering price. ...more

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Elon Musk and the SEC have reached an agreement to revise their earlier agreement to settle the latest round of issues caused by Musk’s Twitter habit. Under its terms, a Tesla securities attorney must now “preapprove any of...more

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More fun for Facebook, just a day after it revealed a coming FTC fine, with the news on Thursday that Canadian privacy commissioners “violated national and local laws in allowing third parties access to private user...more

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Nissan’s Carlos Ghosn problems now extend to the United States, where the Securities and Exchange Commission has opened a probe into the accuracy of the company’s financial disclosures and internal controls....more

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Saudi Arabia is pushing OPEC and its allies to cut oil production in 2019, and it’s doing its own part by exporting 500,000 fewer barrels a day in December than now—all an attempt to “counter the price rout battering the...more

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Markets are joining the American mid-Atlantic and East Coast in bracing for Hurricane Florence and the estimated $27 billion in damages it could bring with it....more

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Walmart’s broader foray into the grocery biz—letting customers order online and pick up in person and expanding home delivery—is paying dividends for the retailer and helping push its revenue up 3.8% from this period a year...more

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Even as JPMorgan has set the playing field for his successor (Daniel Pinto v. Gordon Smith, FYI), head honcho Jamie Dimon is making it clear that he’s not about to go anywhere anytime soon....more

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Lack of workable replacement (so far, at least) be damned—the UK’s Financial Conduct Authority has announced that [the scandal-plagued] Libor will be phased out by 2021 in favor of “transaction-based benchmarks”....more

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The Journal reported yesterday that more than 6,000 Wells Fargo branches were routinely tipped off to inspections by internal risk monitors, a practice that allowed the bank’s sham-account scandal to go undetected for years....more

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China’s expected to announce Q3 economic growth of 6.7 percent this week—a number envied by any other country in the world but the sign of major slowdown there. Dealbook looks at what, exactly, a less-gangbusters Chinese...more

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