The Fed Chair waiting game is officially over, with the White House affirming its confidence in Chair Powell on Monday by indicating that it will renominate him to another 6-year term at the helm of the central bank. ...more
11/23/2021
/ Administrative Appointments ,
Biden Administration ,
Charitable Donations ,
Comcast ,
Department of Labor (DOL) ,
Federal Contractors ,
Federal Reserve ,
Final Rules ,
Gas Prices ,
Hulu ,
Internet Streaming ,
Jeff Bezos ,
JPMorgan Chase ,
Minimum Wage ,
Oil Reserves ,
Tesla ,
Theranos ,
Wage and Hour
After 11 weeks of the prosecution laying out the government’s case, it’s now the defense’s turn in the criminal fraud trial of Theranos founder Elizabeth Holmes. They began by putting Holmes, herself, on the stand, and she’ll...more
A bipartisan coalition of state attorneys general from 10 states has “opened an investigation into Meta, the company formerly known as Facebook, for promoting its social media app Instagram while knowing of mental and...more
11/19/2021
/ Artificial Intelligence ,
Automotive Industry ,
CVS ,
Cyber Attacks ,
Cybersecurity ,
Facebook ,
Financial Markets ,
Ford Motor ,
Instagram ,
OCC ,
Semiconductors ,
Startups ,
Tesla
With gas prices on the rise across the United States, the White House is urging the Federal Trade Commission to investigate whether “illegal conduct” by “large oil and gas companies is pushing up . . . prices for American...more
11/18/2021
/ Amazon ,
Copyright Infringement ,
Disney ,
Federal Trade Commission (FTC) ,
Financial Markets ,
Initial Public Offering (IPO) ,
John Deere ,
Oil & Gas ,
Quentin Tarantino ,
Right to Repair ,
Trademark Infringement ,
Unions ,
Zillow
The bad news (in case you’ve missed it, a feat in itself given the amount of ink spilled on the topic): inflation’s not nearly as transitory as first promised. The good news: consumers are so far managing to spend their way...more
The tortuously negotiated and much-anticipated infrastructure bill that will commit $1 trillion to rebuilding the “nation’s roads, ports and power lines” officially became law on Monday. Here’s another look at what the final...more
Despite proclamations of “best and final offer” after the rejected last round of negotiations, the UAW said last Friday that Deere & Co. “had made modifications to an earlier agreement . . . , setting up another vote over...more
11/15/2021
/ Anti-Corruption ,
Bitcoin ,
Financial Markets ,
General Electric ,
Hospitality Industry ,
John Deere ,
JPMorgan Chase ,
Kaiser Permanente ,
Labor Shortage ,
Trade Relations ,
Union Representatives
Just days after U.S. corporate titan General Electric announced that it would divide itself into three companies, another storied American brand—Johnson & Johnson—laid out plans to “break itself up into two publicly traded...more
11/12/2021
/ Banking Regulators ,
Bitcoin ,
Crypto Exchanges ,
Cryptocurrency ,
E-Commerce ,
European Commission ,
Financial Markets ,
General Electric ,
Johnson & Johnson ,
Pharmaceutical Industry ,
Public Nuisance ,
Regulation X ,
Tesla
Buzzy brokerage app Robinhood Markets is the latest victim of a cyberhack, disclosing earlier this week that the personal information of some 7 million users was exposed. According to Bloomberg, the “intruder made off with...more
The inflation train continued its runaway pace in October, with the CPI rising 6.2%—the “sharpest increase” since 1990. The news is challenging politically for the administration but also for policymakers at the Fed, who are...more
11/11/2021
/ Americans with Disabilities Act (ADA) ,
Boeing ,
Department of Justice (DOJ) ,
Disney ,
Elon Musk ,
Financial Markets ,
Initial Public Offering (IPO) ,
Price Inflation ,
Securities and Exchange Commission (SEC) ,
Tesla ,
Uber
In a blow to Google and the rest of Big Tech, an EU appeals court has refused to “overturn a landmark antitrust ruling by European regulators” from 2017 over Google’s alleged “preferential treatment to its own...more
11/10/2021
/ Antitrust Violations ,
Big Tech ,
Competition ,
DoorDash ,
EU ,
Facebook ,
Financial Markets ,
Google ,
NYDFS ,
OK Supreme Court ,
Opioid ,
Prescription Drugs ,
Public Nuisance ,
Special Purpose Acquisition Companies (SPACs) ,
Technology Sector ,
Tesla ,
Zillow
General Electric, the “129-year-old industrial conglomerate” founded by Thomas Edison, will fracture into three separate publicly traded companies—the latest effort by the struggling behemoth and CEO Larry Culp to “simplify...more
It was a slog, to be sure, but Congress finally made President Biden’s infrastructure plan a reality late Friday, guaranteeing nearly “$600 billion in new federal aid to improve highways, bridges, dams, public transit, rail,...more
Jobs Report Friday again! And this one should be a doozy, as we look for what a wave of recent strikes, increased competition for workers, and millions of workers reconsidering career paths will mean for the numbers...more
11/5/2021
/ AT&T ,
Coronavirus/COVID-19 ,
Facebook ,
Financial Markets ,
Initial Public Offering (IPO) ,
Instagram ,
Jeff Bezos ,
NASA ,
Oil Prices ,
Securities and Exchange Commission (SEC) ,
Theranos ,
Uber ,
Verizon
All the details from the Fed’s long-awaited tapering announcement on Wednesday, in the central bank laid out a plan for slowing its Covid-era asset-buying program. During comments after the Fed’s release, Chair Powell...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
E-truck maker Rivian Automotive, the Amazon- and Ford-backed startup that’s “received roughly $10.5 billion since the start of 2019” as a private company, is seeking a valuation of “just above $60 billion in its initial...more
11/2/2021
/ Amazon ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Financial Markets ,
Initial Public Offering (IPO) ,
Institutional Investors ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Startups ,
U.S. Treasury ,
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
Facebook has issued a broad legal hold to employees instructing them to “preserve internal documents and communications since 2016” about its business following “intense media, legal and regulatory scrutiny over the social...more
A Mozambique-based tuna-fishing deal gone wrong has left Credit Suisse holding the bag to the tune of $475 million—the total in fines it will pay US and UK authorities to a foreign bribery investigation linked to the tuna...more
10/20/2021
/ Bitcoin ,
Department of Justice (DOJ) ,
Facebook ,
Financial Markets ,
Immigration and Nationality Act ,
IRS ,
Netflix ,
NYSE ,
UK Brexit ,
Unemployment ,
Wire Fraud
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
Hollywood’s behind-the-scenes “version of blue-collar workers—camera operators, makeup artists, prop makers, set dressers,” and their ilk—reached a “tentative agreement for a new three-year contact with film and television...more
10/18/2021
/ CFTC ,
China Securities Regulatory Commission (CSRC) ,
Competition ,
Coronavirus/COVID-19 ,
Digital Currency ,
Entertainment Industry ,
Facebook ,
Financial Markets ,
Goldman Sachs ,
Instagram ,
Labor Relations ,
Social Media ,
Stablecoins ,
Strike ,
Unions
Microsoft-owned LinkedIn is shuttering its grand experiment in the Chinese marketplace, citing “a significantly more challenging operating environment and greater compliance requirement.” The pull out “completes the fracture...more
10/15/2021
/ Amazon ,
Chapter 11 ,
China ,
Climate Change ,
Financial Markets ,
General Data Protection Regulation (GDPR) ,
Johnson & Johnson ,
LinkedIn ,
NHTSA ,
Tesla ,
USTR ,
WTO
In unsurprising news to regular Daily Dose readers, consumer prices jumped 5.4% in September as compared to a year before, with “food, rent and furniture costs surging as a limited supply of housing and a shortage of goods...more