- Exec Sum
- Archive
- Page 58
Archive
Eurocession Imminent
Yellen said the economy is strong but so is inflation, Tesla tripled its China deliveries, EY is spinning off its audit and consulting units, BetMGM is opening its first betting parlor at the Cardinal's stadium, and Neumann's startup Flow will use crypto (obviously).
Kardashian Kapital
Kim K launched a private equity firm, the dollar continues to surge, mortgage rates are back to June levels, VCs poured billions into crypto, Truss has a new power subsidy plan for the UK, Serena's last tennis match was the most watched in ESPN history, and Musk will use whistleblower claims in his lawsuit.
Airports Are Bussin' Again
Labor Day air travel passed pre-Covid levels, Europe energy companies are getting margin called, Russia blames the US on European gas woes, Citi wants to lend to people without credit scores, junk bond defaults hit $6B last month, Elizabeth Holmes wants a new trial, Thoma Bravo is opening a UK office, and Juul is paying a fat fine for underage vaping.
Germany's New Stimulus Checks
Liz Truss is the UK's newest Prime Minister, the euro keeps crashing, ocean shipping rates are down 60% YTD, Israel is banning Boeing 747s, Ireland fined Instagram $400M, Germany is fighting rising energy prices with new stimmy checks, and home prices are dropping in the US.
Gas Prices Are Cooling Off
US gas prices have fallen to pre-Ukraine invasion levels, US mortgage demand keeps slipping, Asia IPOs were hot in August, Eurozone inflation hit a record high last month, Russia put more pressure on Europe's energy grid, and US life expectancy declined by a year from 2020 to 2021.
OH SNAP
Stocks were red (again), US regulators are cracking down on crypto and Chinese companies, Russian gas companies printed money in H1 2022, Snap is laying off 20% of its employees (Exec Sum reported it first), Truth Social wasn't approved on Google's app store, and Texas reported the first US monkeypox death.
PE Recruiting SZN
Private equity associate recruiting season officially kicked off yesterday, OpenSea trading volume has dropped by 99%, the Fed is launching a faster payments system, China is arresting hundreds in a large bank fraud probe, Singapore wants to woo foreign talent, the Taliban is buying gas from Russia, and Garry Tan is rejoining YC as President and CEO.
MOAR ECONOMIC PAIN - J Pow
Powell expects more pain in the fight against inflation, EU energy ministers are meeting about sky-high gas prices, Japan pledged $30B for investments in Africa, Meta is settling its Cambridge Analytica lawsuit, the billion-dollar jackpot still hasn't been claimed, stalled M&A deals surpass over $150B, and SpaceX and T-Mobile will link Starlink satellites to cell phones.
Texas Hates ESG
The US economy contracted slower than expected in Q2, Peloton lost $1.2B in Q2, mortgage rates rose to 5.55%, the ECB is concerned with long-term inflation, Amazon is shutting down its telehealth business, Sony is bumping up PS5 prices, and Texas is banning ESG funds.
Biden The Debt Slasher
Biden announced up to $10k in student loan debt relief for millions, SPACs are in the gutter, the labor market has been crushing it this year, investors are running away from hedge funds, Tesla enacted a 3-1 stock split, there's an ETF where you can invest in betting, alcohol and pharma companies, the PGA is expanding benefits to pull golfers back from LIV, and Tiger Woods / Rory McIlroy are launching their own golf league.
Energy Prices Are Too MF High
Ackman sold his Domino's holdings, natural gas prices keep climbing, European IPOs and VC transactions slowed in 2022, the yuan hit a two-year low vs. the dollar, new home sales keep falling, and Biden is set to announce his student loan debt proposal today.