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
EU regulators announced today that they’ve been conducting an investigation into Amazon and “how it collects and uses data from third-party sellers who appear on the retailing giant’s website” with an eye to potential...more
Treasury Secretary Steven Mnuchin is the latest prominent government official to express concerns about Facebook’s coming Libra launch. Speaking at a briefing yesterday, Mnuchin focused on national security issues related to...more
Facebook revealed yesterday that “millions of user account passwords had been stored insecurely, potentially allowing employees to gain access to people’s accounts without their knowledge.” The company said it “had found no...more
The financial world has been busy—and generally not in a great way—since we’ve been gone. Luckily, we’re returning on something of a rare high note after a stronger-than-expected December jobs report and some reassurance...more
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
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
A day of massive lows (opening bell) and impressive rallies (with the dow up 230 by the end of the day) marked a wild Wednesday on Wall Street....more
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
A look at Amazon’s newest concept—Amazon Go—a convenience store that opens in Seattle today complete with “shelves of food” found at other stores (including Whole Foods) but with nary a cashier in sight....more
The moral of this story is as follows: if Maysayoshi Son says the merger’s off, it’s probably off (regardless of what the rest of the board says). We discussed the will they/won’t they status of the T-Mobile/Sprint deal last...more
Deutsche Borse CEO Carsten Kengeter announced yesterday that he’ll step down in the wake of insider-trading allegations related to the exchange’s now-defunct merger with the London Stock Exchange Group....more
Despite a stronger global economic outlook than we’ve seen in years, the world’s central bankers appear loath to let go of stimulus measures while lower-than-expected inflation bedevils them....more
The headline a few days ago was the arrest of VW exec Oliver Schmidt during an ill-advised trip to Miami last week. But the DOJ also indicted five other top executives over their role in VW’s emissions cheating scandal. No...more
As anticipated, the Fed raised its benchmark interest yesterday (for only the second time since the 2008 financial crisis) to somewhere between .5 and .75 percent and, perhaps more critically, revealed its expectation for...more
In a “highly anticipated” ruling from the US Court of Appeals for the DC Circuit, a three-judge panel has found the structure of the Consumer Financial Protection Bureau unconstitutional, holding that the current organization...more