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Robins Kaplan LLP

Financial Daily Dose 10.20.2021 | Top Story: Credit Suisse Fined $475M Over Mozambique Bribery Scandal

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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

Robins Kaplan LLP

Financial Daily Dose 6.4.2021 | Top Story: Wary Markets Wait for May Jobs Report After April Bust

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Jobs Report Friday again, and after a big miss on April’s rather lackluster numbers, all eyes will be on May’s figures. Lots to watch for here....more

Robins Kaplan LLP

Financial Daily Dose 5.14.2021 | Top Story: Colonial Pipeline Paid $5M Ransom to Hackers, Set Dangerous Precedent

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After a series of denials, it has emerged that Colonial Pipeline reportedly paid 75 Bitcoin (roughly $5 million) to recover its stolen data from last weekend’s ransomware attack. The move likely put a quicker end to the...more

Robins Kaplan LLP

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

Robins Kaplan LLP

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

Robins Kaplan LLP

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

Robins Kaplan LLP

Financial Daily Dose 1.22.2021 | Top Story: Google Threatens to Pull Search From Down Under Over Proposed Law

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Google has threatened to pull its search engine from the entirety of the Australian continent “if the government approved legislation that would force tech companies to pay for journalism shared on their platforms.” Facebook...more

Robins Kaplan LLP

Financial Daily Dose 1.11.2021 | Top Story: U.S. loses 140k jobs in December as virus surge hampers recovery

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Aaaand we’re back. Hope all have stayed safe and healthy. Let’s get to business. Friday’s Jobs Report saw the U.S. recovery thrown in reverse, with employers cutting 140,000 jobs in December amidst “rising coronavirus cases...more

Robins Kaplan LLP

Financial Daily Dose 12.11.2020 | Top Story: Banner Airbnb Public Trading Debut Has Some Worrying About Tech Bubble

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Because too much of a good thing is always trouble (especially on Wall Street), market watchers are warning of a new tech bubble after Airbnb’s monster IPO on Thursday. The home-sharing app’s shares rose more than 112% to...more

Robins Kaplan LLP

Financial Daily Dose 12.4.2020 | Top Story: WarnerMedia to Stream All 2021 Movies Upon Theatrical Release

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In yet another blow to the suffering movie theater industry, Warner Bros. announced on Thursday that all of its 2021 release calendar—including “big-budget extravaganzas like ‘Dune’ and ‘The Matrix 4’”—will arrive...more

Robins Kaplan LLP

Financial Daily Dose 12.1.2020 | Top Story: GM Adjusts Deal with Nikola, Won’t Take Stock in E-Truckmaker

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Mere months after an announced major investment in start-up electric truck company Nikola (and the subsequent claims that the company had “exaggerated its capabilities), General Motors announced this week that it had...more

Robins Kaplan LLP

Financial Daily Dose 10.23.2020 | Top Story: CA Appeals Court Tells Uber and Lyft to Treat Drivers as Employees

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A California appeals court has affirmed a lower court decision requiring Uber and Lyft to “treat their California drivers as employees, providing them with the benefits and wages they are entitled to under state labor law.”...more

Robins Kaplan LLP

Financial Daily Dose 10.5.2020 | Top Story: Jobs Report Details Alarming Rise in Long-Term U.S. Unemployment

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Along with the topline numbers (661,000 jobs added in September and unemployment rate declined to 7.9%), Friday’s U.S Jobs Report delivered the rough news that 2.4 million Americans have now been out of work for 27 weeks or...more

Robins Kaplan LLP

Financial Daily Dose 9.10.2020 | Top Story: EU Regulators Challenge Facebook Data Transfers

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New concerns from Ireland’s Data Protection Commission about Facebook’s protection of information from American government surveillance may soon force the social networking giant to “overhaul its operations to keep data on...more

Robins Kaplan LLP

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

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – August 2020 #4

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In Washington - After negotiations remained stalled Wednesday evening, White House Chief of Staff Mark Meadows said that if an agreement in principle wasn’t reached by Friday, "there's no sense to continue" negotiations...more

Robins Kaplan LLP

Financial Daily Dose 8.6.2020 | Top Story: Facebook Launches Instagram Reels to Compete with TikTok

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Never one to let a competitor’s misfortune pass by without looking for an opportunity, Facebook’s Instagram is hoping to capitalize on TikTok’s questionable U.S. status by launching Reels, a new feature that allows users to...more

Robins Kaplan LLP

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

Robins Kaplan LLP

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

Robins Kaplan LLP

Financial Daily Dose 5.14.2020 | Top Story: Fed Chair Warns About US Economy, Urges Congressional Action

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The latest from Chair Powell and the Fed from his Peterson Institute appearance this week, including the stark warning that the U.S. was “experiencing an economic hit ‘without modern precedent’” that could “permanently damage...more

Robins Kaplan LLP

Financial Daily Dose 5.7.2020 | Top Story: Markets Prepping for Brutal April Jobs Report

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Tomorrow’s jobs report is going to be a doozy. Here’s what you need to know in advance of the “terrible” expected figures....more

Robins Kaplan LLP

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

Robins Kaplan LLP

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

Robins Kaplan LLP

Financial Daily Dose 12.09.2019 | Top Story: States Begin Trial Today Challenging T-Mobile/Sprint Merger on Antitrust Grounds

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Thirteen states and the District of Columbia are suing to block the $26 billion plan to merge T-Mobile US Inc. and Sprint Corp. The trial is slated to begin today with state officials arguing the deal would create “a more...more

Robins Kaplan LLP

Financial Daily Dose 10.4.2019 | Top Story: Markets Watching US Jobs Report for Clues on More Fed Rate Action

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Jobs report Friday again. Here’s what to look for in the numbers [and let’s temper those expectations, okay?]...more

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