- Exec Sum
- Archive
- Page 35
Archive
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.
Ryan Cohen: $GME CEO
Ryan Cohen is now the CEO of GameStop, zero-day options are the majority of S&P options volume, Evergrande’s chairman is under surveillance, Meta’s new AI assistant was trained on public Facebook and Instagram posts, and senators are pushing for the release of Even Gershkovic.
Meta's Hot New Specs
Meta is launching smart glasses, ChatGPT now has internet access, Delta’s CEO walked back recent SkyMiles changes, Costco’s CEO said more young people are getting memberships, the dollar surge is impacting forex, and Peloton has a new partnership with Lululemon.
Lina Khan vs. Amazon
The FTC sued Amazon for anti-competitive practices, OpenAI may be selling shares at a ~$90B valuation, McKinsey is paying $320M to settle more opioid lawsuits, the CIA is building an AI tool, China’s industrial profits continue to decline, and Target is closing multiple stores due to violence and theft.