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The Walmart Broncos
Walmart (sorta) owns the Denver Broncos now, Gensler is overhauling Wall Street trading, China stocks rebounded hard, Harvard's president will step down next summer, more golfers continue to join the Saudi-funded league, and Amazon's consumer chief was named the new CEO of Flexport.
Citadel Securities Going Crypto
Yellen finally ditched team "transitory inflation," Citadel Securities is getting into the crypto game, Netflix joined the Formula 1 streaming rights race, Dustin Johnson resigned his PGA Tour membership for Saudi Arabia's LIV Golf Tour, and Musk says that a Starlink IPO is still 3-4 years away.
Musk Might Pull Out
Musk threatened to drop his Twitter bid, Rob Walton is favored to win the Denver Broncos ownership, Boris Johnson survived a no-confidence vote, the SEC might shake up retail trading rules, Biden's student loan forgiveness plan is pushed back a month, China concluded its Didi probe, and Apple revealed it is entering the Buy Now Pay Later (BNPL) space.
Layoffs Are Coming
Tesla shares dropped 9% of news of potential layoffs, Clubhouse is laying off staff members too, Frontier offered a $250M breakup fee in the Spirit deal, Walmart is opening new fulfillment centers, FC Barcelona may sell TV ad rights to BofA, and bitcoin miners are selling the dip.
Year of the Tiger (NOT)
Tiger Global is down 52% YTD, US mortgage rates slipped, the EU approved a partial ban on Russian oil, Biden is canceling student debt for former Corinthian Colleges students, Trevor Milton doesn't want Nikola to sell more shares, and job growth cooled in May.