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Supply Chain Facebook

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Texas Sues Meta Over Alleged Unauthorized Biometric Data Collection

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Texas AG Ken Paxton has sued Facebook parent Meta accusing it of violating “a state consumer protection law by repeatedly capturing and commercializing biometric data in photos and videos for more than a decade without the...more

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Meta Shares Plummet After Facebook Earnings Disappoint

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We know Zuck’s all in on the metaverse. And a decrease in Q4 profits and full-year accounting help us understand the monetary size of that commitment: some $10 billion in 2021, as Meta poured cash into its Reality Labs...more

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Markets Rebound on Wild Monday, Confirming Volatility’s Hold

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Markets pulled themselves back from the brink of a truly devastating Monday of trading to end the day, but their one-day fall of 3-4% yesterday suggests that the volatility that’s marked the first three weeks of 2022 may be...more

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December Jobs Report Expected to Cap Year of Record Growth

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Jobs Report Friday! Here’s what we’re looking for in the numbers, including a possible rebound from November’s lower-than-expected figures. Note that the report also likely doesn’t account for the recent Omicron surge, which...more

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Financial Daily Dose 11.4.2021 | Top Story: Fed Lays out Tapering Plan, Preaches Patience on Rate Hikes

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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

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Financial Daily Dose 10.29.2021 | Top Story: Delta Variant and Supply Chain Woes Slow GDP in Q3

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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

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Financial Daily Dose 10.14.2021 | Top Story: CPI Jumps More than 5%, Raising Fears of Stubborn Inflation

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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

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Financial Daily Dose 9.28.2021 | Top Story: Fed Officials Mired in Trading Scandal to Step Down

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Major Fed news to start the week, as we’ve learned that Dallas Fed President Robert S. Kaplan and Boston Fed President Eric Rosengren are stepping down (both earlier than planned) in the wake of a dust-up over each “trading...more

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Financial Daily Dose 4.29.2021 | Top Story: Fed Stays Course on Rates, Sees Improving Economy

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The Fed’s Open Market Committee meeting broke yesterday leaving rates at near-zero and pledging to “continue buying government-backed bonds at a steady pace as it tries to support the economy’s recovery from the coronavirus...more

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Financial Daily Dose 3.26.2021 | Top Story: New Unemployment Claims Fall by 100k as Job Market Builds Back

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Thursday delivered some welcome good news in the slow push for a labor market recovery. The Labor Department reported that new jobless benefits claims “fell to their lowest weekly level in the last year, a sign that the...more

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Financial Daily Dose 3.25.2021 | Top Story: Still-Blocked Suez Canal Adds to Supply-Chain Woes, Pushes Prices Higher

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More on how the clogged Suez Canal is combining with “a burst of demand for consumer goods” thanks to a resurgent U.S. economy is “heaping pressure on already strained supply chains” and potentially push prices higher in...more

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Financial Daily Dose 2.23.2021 | Top Story: SoftBank Nears Deal With WeWork’s Neumann for $500M Share Purchase

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Ousted eccentric WeWork co-founder and CEO Adam Neumann is reportedly closing in on a deal with SoftBank that would shave about $500 million (roughly half) off the total Masa Son would pay to buy Neumann’s shares. ...more

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Financial Daily Dose 2.19.2021 | Top Story: UK High Court Deems Uber Drivers “Employees”

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Britain’s Supreme Court dealt Uber a blow this morning when it ruled that “drivers must be classified as workers entitled to a minimum wage and vacation time.” The decision—a disaster for Uber in a dispute that reaches back...more

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German court rules Facebook illegally harvested data

Report on Supply Chain Compliance 3, no. 14 (July 23, 2020) - Germany’s top court reversed a decision by an appeals court, stating that there is no doubt that Facebook enjoys a dominant position in the market and also no...more

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Financial Daily Dose 4.14.2020 | Top Story: SoftBank warns of likely $17 billion loss for its tech-focused Vision Fund

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All is not coming up aces for Masa Son and his faltering SoftBank empire, which warned investors on Monday of a coming $16.7 billion loss to its landmark Vision Fund, the tech-focused venture that’s been hammered by “the...more

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Financial Daily Dose 4.13.2020 | Top Story: Oil-producing countries reach broad agreement to cut

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The pandemic is bringing rivals Apple and Google together in an effort to develop a system for “tracking through Bluetooth technology the contacts of those who have tested positive for COVID-19, a method the tech giants...more

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Irish Data Protection Commission conducts dawn raid to learn more about Facebook’s pending dating service

Report on Supply Chain Compliance 3, no. 5 (March 5, 2020) - On Feb. 3, Facebook Inc. informed the Irish Data Protection Commission (DPC) that it would be rolling out a new dating service Feb. 14. The DPC was concerned about...more

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US and France reach agreement on digital tax

Report on Supply Chain Compliance 3, no. 3 (February 6, 2020)  - France has agreed to suspend collection of the Google, Apple, Facebook, and Amazon, or “GAFA” digital tax until the end of the year, allowing for a period of...more

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Financial Daily Dose 12.13.2019 | Top Story: US Announces Phase One Trade Agreement With China, But No Confirmation From Chinese

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The US and China have reportedly reached an initial agreement on the “final terms of a phase one trade deal, moving both countries closer to signing a pact that” the White House originally announced in October and averting...more

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Financial Daily Dose 11.08.2019 | Top Story: US and China Set to Roll Back Tariffs as Part of Trade Deal First Phase

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The U.S. and China have tentatively [maybe?] agreed that a first phase of a trade agreement “would roll back a portion of the tariffs placed on each other’s products, a significant step toward defusing tensions between the...more

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Financial Daily Dose 10.24.2019 | Top Story: Lawmakers Grill Zuckerberg on Libra and Political Ads

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We didn’t get flop sweat Zuck, but it was still a hot seat indeed for Facebook’s founder and CEO on the Hill yesterday, who fielded a wide range of questions from Libra to political freedom of expression on his platform....more

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Financial Daily Dose 10.10.2019 | Top Story: US/China Trade Talks Resume Even as Tensions Grow

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Senior negotiators from the U.S. and China will officially resume trade negotiations today, “with higher tariffs looming if [they] fail to break a five-month stalemate.” The U.S.’s moves this week to blacklist 28 Chinese tech...more

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Financial Daily Dose 8.14.2019 | Top Story: U.S. Backs Off New Tariffs on China Until December

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In the internal battle between keeping China off balance and keeping Wall Street happy, the White House has decided once again to focus on the latter, walking back the latest tariff escalation by postponing promised...more

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Financial Daily Dose 7.11.2019 | Top Story: Fed Chair Primes Markets for July Rate Cut

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The big takeaway from Day 1 of Fed Chair Powell’s Congressional testimony is that a July rate cut is still definitely on the table, despite last week’s strong US jobs numbers.  As the Times puts it, “That the Fed is...more

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Financial Daily Dose 6.27.2019 | Top Story: DOJ Criminal Inquiry Into Chicken Industry Price Fixing

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The DOJ has jumped on board claims made in existing civil class-action lawsuits and is considering criminal price-fixing charges against “some of the biggest American poultry companies, including Tyson Foods and Pilgrim’s...more

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