- Exec Sum
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- Page 34
Archive
Google's Newest AI Bet
Google invested $2B in OpenAI competitor Anthropic, the US Treasury is likely boosting auction sizes as the budget deficit worsens, Asian central banks could hike rates more, Ken Griffin flew Citadel’s Asia-based staff to Tokyo Disney, and Two Sigma had a big trading scandal.
Taylor Swift Billionaire Club
Taylor Swift is now a billionaire thanks to her Eras tour, the US economy had a blockbuster Q3, BlackRock thinks private debt will double by 2028, Fidelity wants to expand its reach in the ETF market, WeWork’s creditors are fighting for control of the company, and Apple might face a watch import ban.
New Morgan Stanley CEO on Deck
Morgan Stanley named Ted Pick as the bank’s next CEO, Biden is embracing AI as a national security tool, Alphabet’s stock had its worst day since March 2020, Ford and UAW neared a tentative labor deal, X rolled out audio and video calling, and demand continues to slow for electric vehicles.
FTX Wants to Restart Trading
FTX is considering proposals from three bidders to restart its crypto exchange, Jamie Dimon ripped central banks for being 100% wrong on their forecasts, the BoE is likely to hold its rates steady, Microsoft’s earnings growth accelerated, and China’s property crisis is upending tens of thousands of lives.
Big Tech Earnings on Deck
Car owners are falling behind on payments at the highest rate on record, European money managers are betting on higher ECB rates, Argentina’s Peronists outperformed expectations in the country’s general election, Hollywood actors and studios restarted contract negotiations, and big tech earnings will put the stock market to the test this week.
Tim Cook's China Tour
Powell signaled that the Fed will stay on hold, Credit Suisse is preparing for more job cuts, Harvard’s endowment outperformed Yale’s, the 60-40 strategy had its worst year in generations, home sales slid to the lowest pace since 2010, PC demand is back, and Tim Cook made a surprise visit to China.
Ackman Still Loves the SPAC Market
The 10-year yield is approaching 5%, Ackman is playing the SPAC market on his own terms, Biden is seeking an unprecedented Israel package, Sequoia is being targeted by the US Committee’s China tech investment probe, Netflix is raising prices after its best subscriber gain in years, and Delta walked back changes to its SkyClub access.
Binance Blocked Dollar Withdrawals
Binance.US paused dollar withdrawals, retail sales rose by 0.7% in September, Nvidia stock fell on news of US restrictions on AI chip exports, GM is delaying its all-electric truck production at Michigan plant, Airbnb faces curbs in Canada, and protests in Guatemala are closing roads.
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.