- Exec Sum
- Archive
- Page 13
Archive
Goldman Wants Out of Consumer Lending
Bezos passed Arnault on the list of world’s richest people, home sales are on track for their slowest year since housing bust, Goldman wants out of consumer lending, the MBA job market is slow, big tech could benefit from Jim Jordan as House speaker, and Linkedin announced ~700 layoffs.
Consumers Aren't Loving EVs
The US is further cracking down on China’s access to chip technologies, oil prices continue climbing due to uncertainty in the Middle East, Taylor Swift’s Eras Concert is the highest-grossing domestic concert film ever, Biden might visit Israel, car buyers aren’t falling in love with EVs, and Xi’s crackdown on finance in China hit its two-year mark.
Adam Aron Got Catfished
AMC’s CEO Adam Aron got blackmailed, the US is holding off on disbursing $6B of oil money in Iran, Scalise dropped out of the US House race, Americans failed to pay a record $668B in taxes, theaters are showing Taylor Swift’s concert, and Europe gave TikTok’s CEO 24 hours to respond about Israel - Hamas misinformation.
Microsoft's Fat Tax Bill
The IRS says Microsoft owes $29B in back taxes, China’s State Fund is buying shares in bank stocks, the Fed is divided on more rate hikes, Israel and Egypt want to create a safe passage for Americans stuck in Gaza, Hollywood suspended talks with actors, and YouTube passed Netflix as the top video source for teens.
Caroline Snitched on SBF
Caroline Ellison testified against her former boss/boyfriend, Biden confirmed that Americans are being held hostage by Hamas, higher interest rates are likely to persist for longer, PE deal flow is slow, banks are benefiting from rising rates, and Deloitte is expanding in the Maldives and Sri Lanka.
Betting Against Obesity
Ozempic risk has become a short thesis for restaurant stocks, stakes are rising in the Israel/Palestine fighting with new Hamas hostage threats, major airlines are suspending flights to Israel, Texas offices are vacant, Hollywood writers ratified their new contact with studios, and Robert F. Kennedy is running as an independent.
Heartbreaking Weekend in Israel
Hamas attacked multiple Israeli towns this weekend, Iran likely helped plot the attacks, oil prices climbed due to Middle East uncertainty, some investors are willing to bet on Argentina, Wall Street can’t handle all of Washington’s bonds, and distressed debt anxiety is rippling through emerging markets.
Michelin Star Hotels
Mortgage rates are soaring, ChatGPT’s owner is exploring making its own chips, Jeremy Grantham says no one should invest in the US, China is becoming a no-go zone for executives, rising interest rates are making deficits matter, and the Michelin Guide will start ranking hotels.
Rishi Wants to Ban Cigs
Biden canceled $9B of student debt for 125k borrowers, the US is dealing with its largest healthcare walkout on record, US firms added their fewest jobs since early 2021, Britain may ban cigarettes for younger generations, Caroline Ellison is a central figure in SBF’s trial, and the Keystone pipeline restarted at half-capacity.
McCarthy Got Canned
Kevin McCarthy was ousted as House Speaker, credit markets wobbled during the most recent Fed speech, Amazon is using an algorithm to raise prices, Dalio feels cautious about US-China relations, Bill Gross says the surging 10-year yield could test 5% in the short term, and Netflix plans to raise prices after the actors strike ends.
Luxury Retailers Love US Real Estate
Gucci and Chanel are gobbling up US real estate, rising rates will likely affect bank balance sheets next quarter, Jamie Dimon predicted a 3.5 day work week for the next generation, the Russell 2000 turned negative for the year, Evergrande shares resumed trading, and Netflix is selling merch.
Student Loan Payments Are Back
Student loan bills are back, London is on pace to become Europe’s biggest stock market again, Ackman is looking for new SPARC deals, Biden signed a bill to keep the government open, Americans are still spending like crazy, Microsoft’s Nadella is testifying at Google’s antitrust trial, and small business bankruptcies are on the rise.