The other shoe dropped for Elon on Tuesday, with Twitter suing the Tesla CEO in Chancery Court in Delaware to force him to “complete is $44 billion acquisition” of the social media company. That court will now “determine...more
Those of us even glancing at the business section each morning shouldn’t be surprised at all, but let’s make it official: the first half of 2022 was the worst for investors in more than 50 years. Crytpo’s fallen off the...more
A fire at a liquid natural gas shipping facility in Texas last week has sent U.S. natural-gas prices freefalling after operator Freeport LNG revealed the disaster “would knock out the facility until late this year, greatly...more
Another week, another Elon tantrum. This time, Mr. Musk and his legal team have dispatched a “crisp, six-paragraph letter” to Twitter, accusing it of “actively resisting and thwarting” Musk’s rights while “completing a $44...more
Peloton’s quarterly earnings report showed that the company’s early-pandemic boom times are now firmly behind it, as the connected fitness bike maker delivered losses of $757 million for the first three months of 2022—“far...more
5/11/2022
/ Apple ,
Biden Administration ,
Cryptocurrency ,
Financial Institutions ,
Financial Markets ,
Imports ,
Pfizer ,
Price Inflation ,
Private Equity ,
Stock Markets ,
Tariffs
In a major reversal of recent trends, workers at an Amazon warehouse not far from the first to unionize just last month rejected a similar effort to organize by a 2-1 margin. The result “was a setback for the upstart Amazon...more
New GDP figures in yesterday showed slight, inflation-adjusted contraction of the U.S. economy (just .4%), but the decline “masked evidence of a recovery that economists said remained fundamentally strong.” Especially...more
Tesla delivered $3.3 billion in profits during the first three months of 2022, a massive increase from the sub-$500M figure during the same period a year before. Still, the company also told investors on Wednesday that “it...more
As forecast, consumer prices rose dramatically in March, hitting the 8.5% mark. Fuel prices led the way thanks to “a recent surge in gas costs tied to Russia’s invasion of Ukraine,” but less volatile core prices were also up...more
Tesla CEO Elon Musk moved this week in SDNY federal court to “scrap a settlement he reached with securities regulators in 2018 that required some of his tweets to be preapproved, a condition that has fomented an ongoing...more
3/9/2022
/ Apple ,
COPPA ,
Elon Musk ,
Federal Trade Commission (FTC) ,
Financial Markets ,
Free Speech ,
Oil Prices ,
Russia ,
Securities and Exchange Commission (SEC) ,
Tesla ,
Twitter ,
UK
Jobs Report Friday again! Here’s what we’re looking for in the numbers (though after last month, good luck with any predictions)...more
DOJ officials are investigating whether some activist investors—including “prominent short sellers . . . Carson Block and Andrew Left”—crossed lines in their efforts to expose “companies with shoddy or even fraudulent...more
Jobs Report Friday again, and general consensus is that with the Omicron surge hitting smack dab in the middle of January hiring, these numbers are going to be weird. Very weird...more
Stronger-than-expected GDP figures for the 4th Quarter and 2021 on the whole was welcome good economic news for the U.S. on Thursday after weeks of volatility and renewed supply-chain issues. Q4 growth clocked in at 1.7%,...more
The Fed delivered on its well-telegraphed plan to raise interest rates as soon as next month in an effort to combat inflation. The central bank has been easing its bond-buying program and appears ready to reduce its balance...more
Back at it for ’22. Hope all had a good holiday season. After deadlocking on several claims on their 7th day of deliberations, jurors weighing the fate of former Theranos CEO Elizabeth Holmes ultimately found her guilty on 4...more
As we’ve been expecting thanks to some heavy foreshadowing from Chair Powell and others, the Federal Reserve wrapped its December Open Markets Committee meeting with the news that it would “cut back on [its] stimulus more...more
A French appeals court cut a 2019 fine by more than half on Monday but still left Swiss bank UBS with a $2 billion penalty “for helping rich clients evade taxes” through what prosecutors called a “long-running scheme” that...more
Competition regulators in Italy have fined Amazon $1.3 billion, accusing the company “of breaking antitrust laws by giving special perks to third-party merchants who use Amazon’s warehouse and delivery system.” The penalty,...more
12/9/2021
/ Amazon ,
Apple ,
Biden Administration ,
Big Tech ,
Competition ,
Electric Vehicles ,
Fast-Food Industry ,
Financial Markets ,
Green Energy ,
Instagram ,
Mobile Apps ,
Nuclear Power ,
Opioid ,
Public Nuisance ,
Social Media
Jobs Report Friday, again. Here’s what we’re looking for in the numbers and why economists are generally optimistic about these pre-Omicron figures - NYTimes and WSJ and Bloomberg and MarketWatch Count Thursday as a...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
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
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
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