Morning News: December 11, 2024
Posted by Eddy Elfenbein on December 11th, 2024 at 7:02 am

College Graduates Are Turning on Milei After Helping Him Win Power

Powerful Families Who Dominate South Korea Face an Investor Revolt

Oman Sticks to Green Hydrogen Ambition Despite Industry Setbacks

Exxon Raises Capital Spending as Worldwide Oil Glut Looms

Exxon Plans to Sell Electricity to Data Centers

US Considers New Russia Oil Sanctions to Weaken Putin Ahead of Trump

Trump’s Return Gives China a Shot at Being the Next Weather Superpower

Xi Readies Bargaining Chips for US Trade War

China Gears Up for US Trade Fight by Showcasing New Tools

The F.T.C.’s Next, More Deal-Friendly Leader

Trump’s Nominees Are Testing the GOP’s Guardrails

Trump’s Pick to Run NASA Is a SpaceX Fan and Funder

US Inflation Data to Show Fourth Consecutive Month of Firm Gains

Bond Investors Await Inflation Data That Could Sway Fed Choice

Wall Street’s Titans Can’t Wait for Trump 2.0

Does Bitcoin at $100,000 Signal a Last Laugh for HODLers?

Hedge-Fund Startups Dwindle as Managers Battle Pressure on Fees

BlackRock’s Private Markets Push May Not Be Over After 2024 Buyout Spree

You’ll Take Private Assets, and Like It

Houthi Attacks Turn Back the Clock for Shipping as Costs Pile Up

50 Companies to Watch in 2025

Lawmakers Plot to Force Health Insurers to Sell Off Pharmacies

Anger at CEOs Goes Beyond the Healthcare Industry. Here’s Why.

For Tesla Owners, a Referendum Through Bumper Stickers

Vodafone Deal May Be Harbinger of Less Resistance to Big Mergers

Opioids Ravaged a Kentucky Town. Then Rehab Became Its Business.

Patterson Cos to Be Acquired by Patient Square in $4.1 Billion Deal

Kroger, Albertsons Could Turn to Ad Business as Deal Termination Looms, Analysts Say

Macy’s Shares Fall After Profit Hit by Accounting Error

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CWS Market Review – December 10, 2024
Posted by Eddy Elfenbein on December 10th, 2024 at 5:39 pm

(This is the free version of CWS Market Review. If you like what you see, then please sign up for the premium newsletter for $20 per month or $200 for the whole year. If you sign up today, you can see our two reports, “Your Handy Guide to Stock Orders” and “How Not to Get Screwed on Your Mortgage.”)

Before I get to today’s issue, I have a quick announcement.

Be sure to circle December 25 on your calendar. That will be a very special day this year. That’s when I’ll email you the Buy List for 2025.

This will be our 20th annual Buy List. In honor of the new Buy List, the New York Stock Exchange will be closed on December 25. I want to thank the exchange for the recognition.

As usual, our Buy List will have 25 stocks. We will add five names and delete five names. All the stocks will be equally weighted at the beginning of the year. The New Buy List will go into effect at the start of trading on January 2 which will be the first day of trading in 2025.

Mondelez Is Looking to buy Hershey, Again

Speaking of our Buy List, we had exciting news this week. Bloomberg reported that Mondelez (MDLZ) is interested in buying Hershey (HSY).

This isn’t the first time that Mondelez has looked into buying Hershey. In 2016, they looked into it but Hershey wasn’t interested.

To be clear, there’s no deal on the table, and Bloomberg said, there’s “no certainty that discussions will lead to a deal.”

If these two got together, it would be a huge deal. Mondelez already owns Oreo and Cadbury. A deal like this does make sense. The fact is that consumers are becoming more health conscious. Recently, Mars bought Kellanova for close to $30 billion.

I can see what Mondelez is thinking, and it makes sense. Buying Hershey would give a big life to Mondelez’s presence in the North American market. Mondelez only gets 31% of its sales from North America compared to 93% for Hershey.

Shares of HSY have not done well this year. The global cocoa crop had a very poor year and Hershey’s stock felt it. A few weeks ago, the chocolatier cut its sales and earnings forecast. Cocoa prices are still quite high. In a separate report, Hershey said that the head of its confectionary business will leave after three months on the job.

One important issue with buying Hershey is the Hershey Trust. The trust owns almost all the “B” shares of HSY, so any deal needs its approval. Historically, the trust has been opposed to any deal. This time could be different.

Even though no deal has been announced, the stock market has been having a grand time with shares of HSY. At one point, HSY was up 19% in Monday’s trading.

At the end of the day, HSY closed higher by $18.95 per share or 10.85%. That gave Hershey a market value of about $39 billion while shares of Mondelez fell a bit, and Mondelez has a market value of $82 billion.

What would be interesting is that if the Hershey Trust is open to the idea of a sale, perhaps other players would jump in. In fact, you could even see a bidding war for Hershey break out. I’m sure the folks at Nestlé will be watching what happens.

The Jobs Market Is Still Doing Well

On Friday, the government reported that the U.S. economy created 227,000 net new jobs last month. That’s quite good. Wall Street had been expecting a gain of 214,000. Also, the anemic number for October was revised higher by 36,000. The storms down south and the Boeing strike impacted the original report. The number for September was also revised higher.

As expected, the unemployment rate ticked up by 0.1% to 4.2%. The unemployment rate has now been below 4.3% for the last 37 months in a row. In April 2020, the unemployment rate peaked at 14.9%.

Job gains were focused in health care (54,000), leisure and hospitality (53,000), and government (33,000), sectors that have consistently led payroll growth for the past few years. Social assistance added 19,000 to the total.

At the same time, retail trade saw a decline of 28,000 heading into the holiday season. With Thanksgiving coming later than usual this year, some stores may have held off hiring.

The broader U-6 rate increased to 7.8%. Also, the labor force participation rate dropped 0.1% to 62.5%. That number is often misinterpreted on social media. In reality, the labor force participation rate is strongly influenced by demographic trends. It’s not a good barometer for the overall health of the economy.

One concerning statistic in the jobs report is that the number of full-time jobs fell by 111,000 while part-time jobs dropped by 268,000. For black workers, the unemployment rate increased by 0.7% to 6.4%.

Average hourly earnings rose by 0.4% for the second month in a row. Over the last 12 months, average hourly earnings have increased by 4%.

The next big report comes tomorrow morning when the CPI report for November is released. It appears that the improvements to inflation have crawled to a halt. We’ll learn more tomorrow. Wall Street expects to see a gain of 0.3% for both the core and headline rate on inflation. It appears that it was quite easy to bring inflation down from 9% to 4%, but getting it from 4% to 2% is proving to be very difficult.

The Federal Reserve meets next week, and it’s very likely that the Fed will again lower interest rates by 0.25%. This will be the Fed’s third rate cut over the last three months, and it will bring the Fed’s target range for the Fed funds rate to 4.25% to 4.50%.

After that, it looks like the Fed may pause on any rate cuts at its January meeting. Traders see the Fed cutting twice more in the first half of 2025, but after June, they don’t expect any more cutting. If that’s the case, then the market may not be so hot next year. There are few things Wall Street likes more than falling interest rates.

That’s all for now. I’ll have more for you in the next issue of CWS Market Review.

– Eddy

Morning News: December 10, 2024
Posted by Eddy Elfenbein on December 10th, 2024 at 7:03 am

EU’s New Competition Chief Plans Policy Overhaul

China Exports Growth Slows Unexpectedly, Imports Drop Further

Beijing Shifts Stance on Economy, but Words Alone Won’t Be Enough

China Economists Ramp Up Expectations for Rate Cuts, Spending

Inflation Switcheroo Rings Out the Election Year

At ‘Tax Prom,’ Washington Prepares for More Tax Cuts

Trump’s Manufacturing Revival Doesn’t Add Up for These Businesses

‘We’re Absolutely in Panic Mode’: Toymakers are Bracing for Trump’s Tariffs

Worried About Stocks? $1 Trillion in Buybacks Will Help

Private Credit Should Trade at Premium, Franklin’s Johnson Says

Chasing ‘Dumb Money’: Hedge Funds Target Mere Mini-Millionaires

Man Group Eyes Acquisitions, Sees ‘Cracking’ Credit Opportunity

How Crypto Insiders Turned ‘Debanking’ Into a Political Storm

Jane Fraser Stares Down Skeptics Ahead of Citi’s Critical Year

Early Adopters Are Ditching Google Search for AI Chatbots

Nvidia Is Now Too Powerful for Beijing to Constrain

Samsung Beats Apple to Making a Smart Ring, With Flaws

The National Security Angle With TikTok Is Bogus. This Is Industrial Policy

A Phone Company Developed an AI ‘Granny’ to Beat Scammers at Their Own Game

Rupert Murdoch Fails in Bid to Change Family Trust

Volkswagen and Labor Leaders to Meet Next Week as Latest Talks End Without Agreement

Stellantis, CATL to Invest $4.33 Billion in EV Battery Plant in Spain

Global Airlines Expect Record Passengers Flows in 2025

Hershey Shareholders Shouldn’t Count on a Mondelez Jackpot

Why the Saudis Want a Second World Cup in the Gulf

Coldplay’s Sold-Out Concerts Show Live Entertainment Is Thriving

Designer Brands Cuts 2024 Outlook as Third Quarter Sales Fall

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Morning News: December 9, 2024
Posted by Eddy Elfenbein on December 9th, 2024 at 7:03 am

Assad’s Fall After 24-Year Rule Creates Power Vacuum in Middle East

Assad’s Fall Shows Russia, Iran and Hamas Made a Bad Bet

Putin’s Syria Setback Threatens Key Russian Military Bases

Russia’s Military Found a Surprisingly Simple Way to Buy US Chips

Ukraine Asks if Telegram, Its Favorite App, Is a Sleeper Agent

China Targets Nvidia For Potential Breach of Monopoly Law

Commerce Dept. Is on the Front Lines of China Policy

China Signals Bolder Stimulus for Next Year as Trump Returns

India’s Luxury Property Market Is a Boon to Trump’s Business

Trump Won’t Be Able to Save the Struggling US Beef Industry

ESG Is in Its Flop Era

BP, Japan’s JERA to Create Offshore Wind JV

Blackstone’s Data-Center Ambitions School a City on AI Power Strains

OpenAI Tests Limits of AI Enthusiasm With $200 ChatGPT Plan

Mexico Inflation Slows Under Forecast With Interest Rate Cut in Play

Chinese Carmakers Are Taking Mexico by Storm While Eyeing U.S.

Strong Momentum Makes It Hard to Bet Against ‘Freight Train’ US Stock Rally

Dollar Optimism Is Spreading From Hedge Funds to Asset Managers

Modern Monetary Theory Is A Left-Wing Variant Of The Austrian School

“Creating a Parallel State”: Elon and Vivek Hope to Test Presidential and Private Powers

Why Tariffs Could Really Pinch Retailers This Time

The US Can’t Manufacture Its Way to a Thriving Middle Class

Massive Wealth Transfer Will Give Women $34 Trillion by 2030

The Girl Economy Is Going Strong — Despite the Manosphere

Taylor Swift’s Eras Tour Grand Total: A Record $2 Billion

Insiders Tell How IT Giant Favored Indian H-1B Workers Over US Employees

Omnicom to Acquire Interpublic in Deal That Will Reshape Advertising Industry

Arthur J. Gallagher to Acquire AssuredPartners for $13.45 Billion

Steve Cohen Spends $1.6 Billion on Mets Payroll With Soto Bet

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Morning News: December 6, 2024
Posted by Eddy Elfenbein on December 6th, 2024 at 7:03 am

Political Turmoil Adds to South Korea’s Economic Woes

German Industrial Production Retreated in October, With Threats Mounting

Never Before Have So Many Sailors Been Abandoned at Sea

Losing This Tiny Island Would Be a Huge Problem for the US Navy

India’s Central Bank Holds Rates Again

Investment Banks Eye 2025 Income Boom as Trump Drives Deal Rebound

Botswana Faces Worst Downturn Since 2020 as Diamond Sales Slump

Gold Rebounds as Traders Await U.S. Jobs Data

US Jobs Report to Show Hiring Rebounded After Storms and Strike

For Those in Need of a Job, Landing One Might Still Be a Challenge

Bond Traders Leaning on Fed Rate Cuts Eye Payrolls for Clues

Wall Street’s Bond Sellers Look Toward Bigger 2024 Bonus Rewards

Everybody Loves FRED: How America Fell for a Data Tool

The World’s Richest Man Is Now America’s Biggest Political Donor

He Promised Huge Tax Refunds. Now Trump Wants Him to Lead the I.R.S.

Asness’ AI Twin Heralds End of Human Fund Managers

BlackRock’s Big Bet on GIP Puts Fink’s Firm in Local Spotlight

Is TikTok Getting Banned? What Trump’s Election Means for Its Fate

LG Electronics Is Latest to Test India’s Roaring IPO Market

Auto Production Tumbles in Canada Before Trump’s Return as Detroit Pulls Back

Americans’ Cars Keep Getting Older—and Creakier

UnitedHealth Shooting Dredges Up Deep Enmity at Health Insurers

The ‘Chilling’ Fatal Shooting of a C.E.O. Has Business Leaders on Edge

The Growing Cost of Making C.E.O.s Safe

The Quest to Turn Human Waste Into Medicine

Federal Judge Rejects Boeing’s Guilty Plea Related to 737 Max Crashes

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Morning News: December 5, 2024
Posted by Eddy Elfenbein on December 5th, 2024 at 7:05 am

Ukraine’s Top Diplomat Rules Out Territorial Compromise

Le Pen Takes France and Europe Into the Unknown

Macron’s Grand Project in Ruins After French Government Falls

German Factory Orders Drop on Car Industry Struggles

Eurozone Retail Trade Declines as Political Worries Mount

The UN Is Failing to Save the World. Here’s What Might.

OPEC+ Delays Revival of Its Oil Production by Three Months

A Winter Weather Puzzle Is Raising the Risk of Meteoric Energy Inflation

The Quest to Make Clean Energy Cleaner

Biden Clears Path for Trump’s Push to Crack Down on Immigration

How Trump Is Rethinking Economic Power

Trump Picks Paul Atkins to Run the S.E.C.

Trump Taps Fiserv CEO Bisignano for Social Security Chief

Trump Picks Ex-Congressman Who Hawked Tax Credits to Lead I.R.S.

Trump Selects Kelly Loeffler, a Top Donor, to Head the Small Business Administration

Bitcoin Soars Past $100,000 on Trump’s Pro-Crypto Pick for SEC

Crypto Leads a Buying Frenzy for All Kinds of Risk

Dubai’s Alleged Crypto Scams Are Raking in Billions

The NFT Is Dead. Long Live the NFT?

How Citi Lost $17 Million on Massive Australia Block Trade

TD Misses on Weak US Performance, Suspends Its Growth Guidance

A $105 Trillion Inheritance Windfall Is On the Way for US Heirs

$8 Billion for Intel Won’t Fix America’s Chip Problem

Nvidia Agrees to Open Vietnam AI Center in Southeast Asia Push

How One of the World’s Richest Men Is Avoiding $8 Billion in Taxes

How Tariffs Threaten an American Manufacturer’s Big Investment in Mexico

Interpublic Group Buys Retail Analytics Company in Deal Valued at Nearly $100 Million

Campbell’s New Chief Inherits Strengthened Business, but Big Challenges Loom

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Morning News: December 4, 2024
Posted by Eddy Elfenbein on December 4th, 2024 at 7:04 am

World Economy to Accelerate in 2025, But Recovery Threatened by Higher Tariffs, OECD Says

South Korea Shaken by Martial Law Disaster

What’s Behind South Korea’s Martial Law Chaos and Why It Matters

Martial Law Didn’t Silence South Korea’s Media. It Empowered Them.

South Korean Turmoil Strikes at Heart of US Alliances in Asia

How a Country’s Economy Was Siphoned Dry

The Tragedy of Merkelism in a Time of Trump and Putin

Why Donald Trump and Javier Milei Are Worlds Apart on Austerity

US Ports ‘Must Evolve,’ Employers Tell Dockworkers

The Oxford Curriculum That American Universities Need

It’s Taking Longer to Find a New Job in the US

America’s Role Reversal: Working-Class Blacks Make Gains While Whites Fall Back

The Quiet Rise of Lightly Regulated Home Insurance

BlackRock Jumps Deeper Into the Private Markets

Barclays Reaches $19.5 Million Settlement Over Debt Sale Blunder

Europe’s Newest Startup Trend: Making AI-Powered Weapons

Saudi Arabia Is Losing Its Iron Grip on Global Oil Markets

Who Will Clean Up Shell’s Mess in Nigeria?

Robots Are Fueling the Next Wave of Solar Farm Development

The Furious Contest to Unseat Nvidia as King of A.I. Chips

GM Sees $5 Billion Hit to Restructure Troubled China Business

Volkswagen Boss Warns Staff Urgent Measures Needed to Save Company

JetBlue Lifts Fourth-Quarter Goal on Better Bookings, Seat Fees

Lilly’s Zepbound Beats Novo’s Wegovy in Head-to-Head Trial

Seven & i $60 Billion Management Buyout to Include US Assets IPO

Dollar Tree Sales Growth Signals Recovery in Demand

The Midwestern Roots, and Woods, of N.B.A. Courts

Foot Locker Lowers FY24 Outlook After 3Q Misses Estimates Amid Soft Demand, Higher Promos

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CWS Market Review – December 3, 2024
Posted by Eddy Elfenbein on December 3rd, 2024 at 6:21 pm

(This is the free version of CWS Market Review. If you like what you see, then please sign up for the premium newsletter for $20 per month or $200 for the whole year. If you sign up today, you can see our two reports, “Your Handy Guide to Stock Orders” and “How Not to Get Screwed on Your Mortgage.”)

Before I get into today’s email, I have to apologize for some snafu that prevented last week’s premium issue from being emailed out. Perhaps I had too much turkey. In any event, paid subscribers can see that issue here.

The S&P 500 continues to have a great year. This looks to be Wall Street’s best year since 2021. It’s odd how many people get upset by a rising market. As I’ve often said, “nothing gets people angry quite like good economic news.” That’s even my pinned tweet on X.

Citigroup said that things are getting so bad for the bears (meaning good), that many hot shot short sellers are finally throwing in the towel. The more they’ve held out against the bulls, the worse they’ve done.

European stocks, in particular, have lagged badly versus the U.S. Wait, let me rephrase that—they’re lagging horribly versus the U.S.

Valuations in the U.S. are far higher than what we see across the pond. To be fair, this is like comparing apples to Müeslix. The U.S. markets are much more heavily weighted toward tech stocks, so perhaps they should command higher valuations.

Although it’s just started, the last month of 2024 is proving to be a very good one for growth stocks. On Monday, growth creamed value: +0.79% to -0.76%. The gap between high beta and low vol was even greater: +1.87% to -0.96%. Growth beat value again today.

In plain English, this means that investors are willing to shoulder great risk in search of greater returns. This kind of market typically aligns with rising interest rates. Or in this case, rates that may not be going lower as rapidly as expected.

This is a part of a growing gap between what the Federal Reserve has said and what the markets expect. The Fed has consistently said that it’s looking to bring down rates, or in their view, take back the previous rate hikes.

Wall Street doesn’t buy it. Traders think the Fed will cut rates again when it meets in two weeks. That’s not that controversial. The murky part is what comes next. For all of next year, Wall Street only expects two 0.25% cuts from the Fed.

Here’s a cool chart.

This shows the where the Fed is in blue, and the market’s take on the two-year Treasury in red. I like this chart because you can see how the red line anticipates the blue line. It’s like the red is the blue line, just faster.

Notice how the red line has been moving up recently. That shows you how Wall Street is growing less confident in the Fed’s rate-cutting agenda. That’s also what’s driving the sector rotation I described earlier.

Whom to believe? When in doubt, I side with the market’s expectations rather than a roomful of economists. Still, you never know.

What Happened to the Recession We Were Promised?

I feel as if I was promised a recession for this year, and we’re not going to get one. That news is far more upsetting to some folks than I would have expected.

We still have one more month left of this year and of Q4. Goldman Sachs currently pegs Q4 GDP growth at 2.4%. The Atlanta Fed’s model is at 2.7%.

Yesterday we got the ISM Manufacturing Index for November. I tend to like this report because it comes out quickly, usually on the first business day of the month. The GDP reports are great, but they tend to come out long after the fact.

For November, the ISM was 48.4. That’s up from 46.5 for October. Any number below 50 means the factory sector of the economy is shrinking. This was the eighth month in a row that the ISM came in below 50, and it was the 24th time in the last 25 months that it was under 50.

This Friday, we’ll get the November jobs report. Last month, the report for October said that only 12,000 jobs were added to the economy. That number was probably distorted by the storms down south. For Friday, Wall Street is expecting a gain of 214,000 new jobs.

This morning, the Labor Department released its JOLTS report (Job Openings and Labor Turnover Survey) and it said that job openings rose in October by 372,000 to 7.744 million.

There are now 1.11 job openings for each unemployed person. That’s up from 1.08 jobs for September. While that’s nice to see an increase, job openings are still down over the past year by 1.3 million.

Economists polled by Reuters had forecast 7.475 million vacancies. The increase in job openings was led by the professional and business services sector, with 209,000 unfilled positions. Vacancies rose by 162,000 in the accommodation and food services industry and climbed by 87,000 in the information sector.

But there were 26,000 fewer open positions in the federal government. The job openings rate increased to 4.6% from 4.4% in September.

The number of quits also increased. That’s a good metric to follow because a rising number often signals confidence in the economy. Layoffs fell to 1.6 million. That’s the largest drop in layoffs in 18 months.

Stankey’s Bold Turnaround at AT&T

I wanted to comment on the recent success of AT&T (T). The stock has done very well this year, and it’s due to a very simple strategy. The company got rid of its entertainment holdings.

I’m not sure why, but too many companies decide that they need to buy up other firms in order to make their own firms unnecessarily complicated. I remember that Peter Lynch warned of the dangers of holding too much cash on a firm’s balance sheet. They’re liable to spend it unwisely. Lynch referred to this as the Bladder Theory of corporate finance. I see it in action all the time.

AT&T has moved in the other direction. CEO John Stankey got rid of AT&T’s Warner Brothers unit and also its satellite-TV company DirecTV. What was the point of owning them? Stankey also improved the company’s balance sheet by getting rid of tons of debt. The biggest issue was resolving AT&T’s terrible move of merging with Time Warner.

This morning, the company said it is aiming, over the next three years, to return $40 billion to shareholders via dividends and share buybacks. It wasn’t that long ago that Stankey had to cut AT&T’s dividend, and he sold WarnerMedia to Discovery Communications.

Since getting rid of Warner, AT&T is up 50% including dividends while Warner hasn’t done much. AT&T is smaller now, but it’s focused on telecom which is what it does best. AT&T still holds a dominant position in fiber-optic broadband subscribers. Investors love recuring revenue and that’s what AT&T provides with its monthly cellphone bills.

The company’s major challenge now is to upgrade its fiber lines to better compete with companies like Verizon. There’s a lot of work ahead for AT&T and I’m afraid the company will have to shrink its workforce, but this is a good example of a company taking the right steps to make itself more competitive.

That’s all for now. I’ll have more for you in the next issue of CWS Market Review.

– Eddy

Morning News: December 3, 2024
Posted by Eddy Elfenbein on December 3rd, 2024 at 7:06 am

Welcome to the Post-American New World Disorder

Will Trump’s Dollar Diplomacy Roil Global Trade?

China Targets Critical Metals in Tit-for-Tat Response to US

Italy to Require Companies Buy Insurance for Climate Risks

Brazil Economy Beats Forecasts Again as Consumers Spend Big

Fintechs Launder Cocaine Cash for Brazil’s Largest Criminal Gang

Investors Punish France Over Budget Turmoil

Construction Industry Braces for One-Two Punch: Tariffs and Deportations

Americans Risk Losing Life Savings When Retirement Homes Go Bust

Wall Street Short Sellers Throwing In the Towel, Citigroup Says

BlackRock Buys Credit Firm HPS in $12 Billion All-Stock Deal

AT&T Gave Up on the Media Business, and Its Stock Has Surged

Revolut Co-Founder Storonsky Says UK Can’t Compete with US on IPOs

Musk and Ramaswamy Have Their Work Cut Out for Them

The Supreme Court Won’t Save Musk’s DOGE Plans

It’s Not Conservative for Conservatives To Spend the Money of Others

SpaceX Weighs Tender Offer at Roughly $350 Billion Valuation

Tesla’s China Sales Fall as Competition Heats Up

Will Elon Musk Ever Collect His Full Tesla Pay Package?

Intel’s Patience Runs Out on CEO Gelsinger’s Long-Term Strategy

Striking Volkswagen Workers Numbered Nearly 100,000 on Monday, Union Says

Why Europe’s Vaunted Car Industry Is in Crisis, in Charts

G.M. Will Sell Stake in E.V. Battery Plant to Its Partner LG

NYC Coffee Chain Matto Uses $3 Lattes to Win Over Office Workers

Carlsberg Sells Russian Baltika Breweries Business

Terence Reilly Made Crocs and Stanley Cups Cool. Can He Do It Again With HeyDude?

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Morning News: December 2, 2024
Posted by Eddy Elfenbein on December 2nd, 2024 at 7:01 am

Milei Touts $50 Billion From Investors Eyeing 30-Year Loopholes in Argentina

EU Nears Deal on €1.5 Billion Fund to Boost Its Defense Industry

European Factories Struggled Last Month as China’s Perked Up Ahead of Trump Tariffs

Asian Manufacturing PMIs Send Positive Signals But Tariff Threat Tempers Upside

US Tightens Curbs on China’s Access to AI Memory and Chips Tools

A Roadmap Through the Drama and Realities of Trump’s Trade War

Trump Tariffs Don’t Worry Mexico’s Only Chinese Car Plant Chief

Metal Prices Slide; Significant Volatility Expected on Trump, China Policies

Trump Changes Tune on Strong Dollar

American Dollar Flexes on Trump Swipe, French Politics, Yuan Slide

Coinbase Policy Chief Expects Speedy Approval of Crypto Laws Following Trump’s Victory

The Fed’s Next Big Policy Rethink Needs Rethinking

Investment Banks Will Lose Billions of Dollars to Private Rivals

Singapore Central Bank Fines JPMorgan $1.8 Million Over Misconduct by Relationship Managers

Things to Put On Your Holiday Gift List Before Tariffs Make Them More Expensive

Most Black Friday Shoppers Bagged Their Deals Online this Year, with Record Spending

This Old House? Home Buyers’ Best Deals Are on Builders’ Lots

Musk’s Rivals Fear He Will Target Them With His New Power

Nvidia Joins $700 Million Nebius Deal For AI Cloud Services

Volkswagen Workers Begin Striking as Labor Dispute Escalates

Stellantis Reels After CEO’s Early Departure Leaves Void

Peugeot Family Backs Stellantis After CEO Tavares Quits

The Billion-Dollar Railways Driving Biden’s Last Overseas Trip

McDonald’s Inflation Tug of War Should Worry More Companies

Whole Foods Chases Shoppers With Minimarket Concept

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