- Acumen Powered by Robins Kaplan LLP®
- Affirmative Recovery
- American Indian Law and Policy
- Antitrust and Trade Regulation
- Appellate Advocacy and Guidance
- Business Litigation
- Civil Rights and Police Misconduct
- Class Action Litigation
- Commercial/Project Finance and Real Estate
- Corporate Governance and Special Situations
- Corporate Restructuring and Bankruptcy
- Domestic and International Arbitration
- Entertainment and Media Litigation
- Health Care Litigation
- Insurance and Catastrophic Loss
- Intellectual Property and Technology Litigation
- Mass Tort Attorneys
- Medical Malpractice Attorneys
- Personal Injury Attorneys
- Telecommunications Litigation and Arbitration
- Wealth Planning, Administration, and Fiduciary Disputes
Acumen Powered by Robins Kaplan LLP®
Ediscovery, Applied Science and Economics, and Litigation Support Solutions
-
December 5, 2024Jake Holdreith Named to Twin Cities Business Top 100
-
December 4, 2024Robins Kaplan Obtains $10.5 Million Post-Verdict in Landmark Aerosol Dust Remover Abuse Case
-
December 2, 2024Robins Kaplan LLP Announces 2025 Partners
-
December 12, 2024Strategies for Licensing AI: A Litigation Perspective
-
December 11, 20242024 Year in Review: eDiscovery and Artificial Intelligence
-
December 4, 2024Trust & Estate Litigation in Minnesota
-
December 2024A Landmark Victory for Disabled Homeless Veterans: Q&A with the Trial Team
-
November 8, 2024Trademark tensions on the track: Court upholds First Amendment protections in Haas v. Steiner
-
November 8, 2024Destination Skiing And The DOJ's Mountain Merger Challenge
-
September 16, 2022Uber Company Systems Compromised by Widespread Cyber Hack
-
September 15, 2022US Averts Rail Workers Strike With Last-Minute Tentative Deal
-
September 14, 2022Hotter-Than-Expected August Inflation Prompts Massive Wall Street Selloff
Find additional firm contact information for press inquiries.
Find resources to help navigate legal and business complexities.
Hotter-Than-Expected August Inflation Prompts Massive Wall Street Selloff
Financial Daily Dose 9.14.2022
September 14, 2022
So . . . . That was a day on Wall Street, amirite? – NYTimes and WSJ and Bloomberg and MarketWatch
For those who somehow missed it, you can thank the slightly-worse-than-expected CPI figures for that market freefall yesterday. Consumer prices rose 8.3% in the year through August (compared to 8.5% in July), and after stripping out food and fuel, consumer prices increased 6.3% in August (up from the 5.9% figure in July and the 6.1% that analysts had expected). All told, that means that the Fed is likely to keep hiking rates, and that was enough to kill the few days of optimism that had given markets a boost starting last week - NYTimes and WSJ and Bloomberg and Marketplace
Feels like the right time to again check in on a U.S. economy that finds itself squarely in a very “strange place right now” - NYTimes
Amidst all that bad news, a bit of good: new information from the Census Bureau shows that unprecedented government spending on emergency pandemic aid helped drive the U.S. poverty rate down to 7.8% (from 9.8% the year before) in 2021 while also cutting “the number of poor children by nearly half” - NYTimes and WSJ and Marketplace
Twitter whistleblower Peiter Zatko spilled some tea about the inner workings of his former company before a Senate committee yesterday, telling the panel that execs “disregarded concerns about foreign governments infiltrating its operations and misled regulators about its privacy practices” because they were so focused on the “company’s business” - NYTimes and WSJ and Bloomberg and Law360
Zatko’s bombs, of course, added more drama to the ongoing dispute between Elon Musk and Twitter over the former’s $44B offer to buy the latter. Twitter shareholders officially approved that ill-fated offer yesterday - WSJ and Law360
Big win for European antitrust authorities this week in their fight to rein in Big Tech. Today, an EU General Court affirmed the record “multibillion-dollar fine issued against Google in 2018” over the company’s practices of using its “Android smartphone technology and its dominance in that market to cement the leadership of its search engine” - NYTimes and WSJ and TechCrunch
Warner Bros. Discovery rolled out more job cuts this week, as the newly combined company works to find the $3 billion in savings that executives promised to find when the merger became official in April - NYTimes
Meanwhile, over at Amazon, the e-commerce giant will “raise pay and benefits for its delivery partners” as it “gears up for the peak holiday season amid a persistently tight labor market.” Among other things, the $450 million Amazon’s earmarked for the program will fund wage increases, pay for educational programs, and “financial support for a 401(k) investment plan for drivers” - WSJ
Bayfield, WI and Lake Superior as the next great cruising destinations? Don’t strain those ribs laughing. It’s already happening - NYTimes
MDR
The Robins Kaplan Financial Daily Dose features top stories and latest news headlines in financial markets, banking, securities and technology topics.
Related Professionals
Michael D. Reif
Partner
If you are interested in having us represent you, you should call us so we can determine whether the matter is one for which we are willing or able to accept professional responsibility. We will not make this determination by e-mail communication. The telephone numbers and addresses for our offices are listed on this page. We reserve the right to decline any representation. We may be required to decline representation if it would create a conflict of interest with our other clients.
By accepting these terms, you are confirming that you have read and understood this important notice.