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Robins Kaplan LLP

Financial Daily Dose 6.15.2021 | Top Story: Troubled E-Truck Start-up Lordstown Motors’ CEO and CFO Resign After Board...

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Ailing e-truck startup Lordstown Motors found itself facing more challenges on Monday, as founder & CEO Steve Burns and CFO Julio Rodriguez resigned “after an investigation by the company’s board,” just weeks after the...more

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Financial Daily Dose 6.1.2021 | Top Story: China Changes Two-Child Policy in Hopes of Staving Off Coming Economic Crisis

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In a significant departure from decades of restrictive population management efforts, China’s ruling party will now permit couples to have three children—“ending a two-child policy that has failed to raise the country’s...more

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Financial Daily Dose 5.18.2021 | Top Story: Amazon in Talks to Acquire Movie Studio MGM

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Struggling movie studio mainstay MGM is shopping itself hard to Amazon in hopes that the prospect of bringing “James Bond, Rocky, RoboCop and other film and television properties into the e-commerce giant’s fold” is enough to...more

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Financial Daily Dose 4.20.2021 | Top Story: Deadly Weekend Tesla Crash Prompts Federal Probe of Self-Driving Tech

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A fiery, deadly Tesla crash outside of Houston over the weekend is prompting a federal probe of the company’s self-driving autonomous mode for “potential gaps in self-driving car technology.” ...more

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Financial Daily Dose 4.16.2021 | Top Story: Lower Jobless Claims and Big U.S. Retail Sales Power Dow Above 34,000

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More good economic news in the U.S. this week, with first-time jobless claims falling to 613k, a decrease of more than 150,000 from a week earlier and the lowest level of the pandemic. ...more

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Financial Daily Dose 4.12.2021 | Top Story: Chinese Regulators Hit Alibaba With $2.8B Antitrust Fine

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Chinese antitrust officials hit Alibaba with a “record” $2.8 billion fine over the weekend—the “biggest move yet in the government’s campaign to tighten its supervision of Big Tech.” ...more

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Financial Daily Dose 4.9.2021 | Top Story: CV Amazon Leading in Early Alabama Warehouse Union-Vote Tally

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Most eyes in the labor world are on Birmingham, Alabama, where the NLRB is hand-counting the 3215 ballots cast by workers in Amazon’s Bessemer, AL warehouse on whether to unionize. Though results could be released later...more

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Financial Daily Dose 4.6.2021 | Top Story: Treasury Sec. Yellen Proposes Global Minimum Tax Rate for Multinational Businesses

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Back at it. Let’s get caught up . . . Treasury Secretary Janet Yellen is calling for a global minimum tax rate on multinational corporations, a move aimed at helping “prevent companies based in other countries from having a...more

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Financial Daily Dose 1.13.2021 | Top Story: Visa Jettisons Plaid Takeover After DOJ Antitrust Challenge

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Visa is “abandoning its $5.3 billion planned acquisition of Plaid Inc.,” a fintech startup that the DOJ had called an upstart “but important competitive threat to Visa” in its antitrust lawsuit challenging the deal....more

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Financial Daily Dose 12.15.2020 | Top Story: Moderates Push Skinnier Covid Relief Bill that Strips Out Sticking Points

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The latest lame-duck Covid relief package proposal would trim about 150 billion dollars (and a number of key sticking points, including funds “to bolster state and local governments, and a temporary coronavirus liability...more

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Financial Daily Dose 11.23.2020 | Top Story: Pandemic and Global Economy Dominate Virtual G-20 Meeting

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The G-20 held a virtual summit this weekend, and discussions about taming the pandemic and addressing “the global economic damage it has wrought dominated” the meeting....more

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Financial Daily Dose 10.19.2020 | Top Story: ConocoPhillips Buys Oil Producer Concho Resources in Deal Worth Nearly $10B

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ConocoPhillips is doubling down on its commitment to the Midland basin by buying Concho Resources Inc. in “an all-stock transaction valued at $9.7 billion,” even “as the American shale-drilling industry is facing a downturn...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 9.28.2020 | Top Story: Federal Court Halts White House Ban on TIkTok App-Store Downloads

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A federal judge has delivered another win for TikTok over the weekend, temporarily blocking a White House ban “on new downloads of the video-sharing network, which would have gone into effect at 11:59 p.m. in Washington.” The...more

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Financial Daily Dose 9.23.2020 | Top Story: Fed Chair Calls for More Covid-Related Stimulus From Congress

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The latest from Fed Chair Powell and Treasury Secretary Mnuchin’s first of several days on the Hill, including their take that the economy is improving but that continued fiscal support—from the Fed and from Congress—was...more

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Financial Daily Dose 8.24.2020 | Top Story: TikTok Confirms Plans to Sue U.S. over Recent Executive Orders Targeting App

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More on TikTok’s plans to sue the U.S. over the White House’s recent executive orders seeking to block the app on American soil and force its owner, ByteDance, to sell its American assets. The company intends to argue that...more

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Financial Daily Dose 8.18.2020 | Top Story: U.S. Further Restricts Huawei Access to American Components

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Another day, another major U.S. restriction on Chinese tech. The Commerce Department is out with new rules “curbing Huawei Technologies Co.’s access to foreign-made chips.” The measures would “prohibit non-U.S. companies from...more

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Financial Daily Dose 8.10.2020 | Top Story: Twitter Enters Fray in Pursuit of TikTok

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With “Twit-tok” trending this weekend, you should be unsurprised to learn that Twitter has joined the group of suitors for TikTok, revealing that it’s held preliminary talks with the video-sharing app about a possible combo. ...more

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Financial Daily Dose 6.30.2020 | Top Story: Supreme Court Allows President to Fire CFPB Director, Lets Agency Remain

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By a 5-4 margin, the Supreme Court has ordered the restructuring of the Consumer Financial Protection Bureau, “ruling the agency’s structure was unconstitutional because its director held too much unchecked power.” The fix,...more

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Financial Daily Dose 6.15.2020 | Top Story: Reopening-Related COVID Surge Pauses Recent Market Rally

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Rising infection rates around the U.S. and the globe are worrying markets, as fear of a second wave of cases linked with the reopening of the economy freaks out traders....more

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Financial Daily Dose 6.5.2020 | Top Story: The U.S. Job Market Sees Surprising Gains

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The U.S. market is improving, with employers adding 2.5 million jobs. For some perspective, “[t]he economy shed 22.1 million jobs combined in March and April.” So, we have a ways to go before we’ve fully recovered. ...more

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Financial Daily Dose 4.17.2020 | Top Story: Amazon asking customers to buy less

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Amazon asking customers to buy less! The pandemic has forced businesses, both winners and losers, to act “in unusual ways”....more

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Financial Daily Dose 3.17.2020 | Top Story: The Bear Market Roars, with Markets Falling nearly 13% as Whole Sectors of US Economy...

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As Americans [way-too] slowly come to the realization that COVID-19 is a very real and very present threat, the business world is changing around them at a staggering pace. Stocks nosedived again on Monday, with the three...more

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Financial Daily Dose 3.13.2020 | Top Story: COVID-19 Fears Push Wall Street to Worst Losses Since Black Monday

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It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial...more

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Financial Daily Dose 2.26.2020 | Top Story: CDC Warning About COVID-19 in the US Sends Stocks Tumbling Again

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A stark warning from the Centers for Disease Control that Americans should prepare for a COVID-19 outbreak sent stocks tumbling again on Tuesday, with the S&P 500 closing down 3% (and firmly in the red for the year) by the...more

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