Morning News: February 7, 2023
Posted by Eddy Elfenbein on February 7th, 2023 at 7:10 am

How Russia Is Surviving the Tightening Grip on Its Oil Revenue

Farmland Becomes Flashpoint in U.S.-China Relations

Solar Panels Are the Midwest’s New Cash Crop as Green Energy Booms

Immigration Rebound Eases Shortage of Workers, Up to a Point

Washington, D.C., Has More Tech-Job Openings Than Silicon Valley

Fed’s Kashkari Says Strong Jobs Data Show Need for More Hikes

For More Certainty in Your Retirement Portfolio, Consider Annuities

SoftBank Loses Nearly $6 Billion in Quarter as Investments Suffer

French Bank BNP Paribas Reports Bumper Profit for 2022, Boosts Stock Purchase Plan

BP Makes Record Profit in 2022, Boosts Oil Spending

ChatGPT Gets Fresh Competition

Meta to Revamp Horizon Metaverse App, Plans to Open for Teen Use as Soon as March

Beyoncé’s Ticket Sales Are Ticketmaster’s Next Test After Taylor Swift

Lab-Grown Meat Has a Bigger Problem Than the Lab

Who Decides How Woke Corporations Should Be?

Bed Bath & Beyond Strikes Investor Deal for Over $1 Billion to Avoid Bankruptcy

Match Fixing Has Existed for Centuries. Gambling Apps Are Making It Worse

Crypto Firms Ditch Super Bowl Commercials This Year After FTX Meltdown

Americanas’ $4 Billion Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record

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Morning News: February 6, 2023
Posted by Eddy Elfenbein on February 6th, 2023 at 7:07 am

Chevron Explores Algerian Gas Plans Amid Russian Sanctions

Newmont Proposes $17 Billion Takeover of Australia’s Newcrest Mining

Flowers, Fresh Fish and Movies: China Is Spending Again, Cautiously

With Debt Ceiling in Sight, Treasury Resorts to ‘Extraordinary Measures’

Opposite What Economists Believe, Rising Wages Signal Easing Inflation

States Are Flush With Cash, Which Could Soften a Possible Recession

Many Banks Pay High Rates on Savings. So Why Aren’t You Moving Your Money?

Steve Eisman on the ‘Paradigm Shift’ Happening in Markets Right Now

The Man Behind Pimco’s Great Debt Bet Closes In on His Next Big Trade

Adani Stock Selloff Enters Third Week

Adani Crisis Sparks Protests and Arrests in India as Sell-Off Losses Top $110 Billion

The World’s Richest Person Is Trying to Head Off a Succession Battle

Rothschild Family to Take Bank Private in $4 Billion Deal

The Blurred Lines Between Goldman C.E.O.’s Day Job and His D.J. Gig

Carlyle Taps a Former Goldman Executive to Fill Its Leadership Void

Twitter Set to Charge Businesses $1K a Month for Gold Verification

Tesla’s Pickup Truck Is Coming Soon. Maybe.

U.S. Car Makers’ EV Plans Hinge on Made-in-America Batteries

Nissan, Renault Alliance Shake-Up to Give Each Company More Independence

The World’s Biggest Planes Are Finding Their Way Back Into the Skies

Dell to Cut About 6,650 Jobs, Battered by Plunging PC Sales

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Morning News: February 3, 2023
Posted by Eddy Elfenbein on February 3rd, 2023 at 7:20 am

Apple Sales Shrink as Pandemic Rally Ends for iPhone Maker, Other Tech Giants

Why Chinese Companies Are Investing Billions in Mexico

Why Governments Won’t Let Inflation Go Away

Turkey Deposit Rates Above 25% Begin Luring Cash from Stocks

Adani’s $108 Billion Crisis Shakes Investors’ Faith in India

Nasdaq Rally Gets a Reality Check as Megacaps Miss

Cathie Wood Claims Victory Lap, Calling ARKK ‘the New Nasdaq’

BofA Warns Investors Risk Sleepwalking Into Selloff

Cyberattack Sends Derivatives Trading Back to the 1980s

Amazon Reports Almost No Profit and Slowing Growth

Alphabet’s Profit Falls 34% Amid Ads Slowdown

Apple Sales Shrink as Pandemic Rally Ends for iPhone Maker, Other Tech Giants

Elon Musk’s Twitter Pushes to Win Back Advertisers During Super Bowl Weekend

Ford Posts Full-Year Net Loss, Ugly Fourth Quarter as ‘Execution Issues’ Plague Operations

‘Assassin’s Creed’ Creators Cling to Family Control at Ubisoft

Activist Investor Nelson Peltz Steps Up Pressure on Disney Board

The Bosses Are Back in Charge

Frontier Airlines Launches All-You-Can-Fly Summer Pass for $399

Searches for ‘Cancel Netflix Account’ Surge Over Anti-Password Sharing

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Morning News: February 2, 2023
Posted by Eddy Elfenbein on February 2nd, 2023 at 7:09 am

Russian Diesel Is Europe’s New Embargo Target

Bank of England Raises Rates to 4 Percent, Its 10th Straight Increase

Australia Won’t Put King Charles on Its 5-Dollar Bill

Fed Slows Its Tightening With Quarter-Point Interest Rate Rise

Adani Crisis Deepens as Stock Rout Hits $108 Billion, Bonds Sink

How Extreme Bets Fueled an $11.4 Billion Fortune

Deutsche Bank Leans on Lending Units as Investment Bank Sputters

Falling Mortgage Rates Bring Some Home Buyers Back to Market

Forget Pandemic Puppies. Meet the Inflation Chicken

The Trillion-Dollar Question: Could a Coin Save the Day?

Adani, Embattled Indian Company, Scraps $2.5 Billion Share Sale

Judge Is Said to Let Meta’s Virtual Reality Deal Move Forward

Meta’s Stock Market Rebound to Surpass $200 Billion in Value

Shell’s Profit Soared to $42 Billion Last Year

Drugmakers Raise Prices on Nearly 1,000 Medicines but Show Restraint

Tesla Slashed its Prices Across the Board. We’re Now Starting to See the Consequences

The Lego Approach to Building the World’s Biggest Projects

A Billionaire’s Son Battles a Turbulent WWE Over the Future of Pro Wrestling

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Morning News: February 1, 2023
Posted by Eddy Elfenbein on February 1st, 2023 at 7:06 am

U.S. Pursues India as a Supply-Chain Alternative to China

Eurozone Inflation Slows Sharply as Energy Costs Continue to Ease

Central Banks Bought the Most Gold Since 1967 Last Year, WGC Says

Wall Street’s Newfound Optimism Faces a Test as the Fed Meets

Cooler Pay Gains Add to Debate on When Fed Might Pause Rate Hikes

Wall Street Is Making the Same Fed Bet That’s Burned It Repeatedly

ChatGPT Unleashes Stock Trader Stampede for Everything AI

Oil Giants, After Surge in Profits, Are Wary About Spending

Whole Foods Asks Suppliers to Lower Prices

Black Americans Are Much More Likely to Face Tax Audits, Study Finds

Vaccine Makers Kept $1.4 Billion in Prepayments for Canceled Covid Shots for the World’s Poor

How the World’s Second-Richest Man Lost $68 Billion in a Week

Adani Stock Meltdown Hits $92 Billion as Collateral Worries Grow

Peloton No Longer at ‘Brink of Extinction’ as Losses Narrow

GM’s Fourth-Quarter Profit Soared as Supply-Chain Problems Eased

Porsche Blunder Puts $148,000 Sportscar on Sale for Just $18,000

The Next Retirement Communities Won’t Be Just for Seniors

The Unlikely New TikTok Influencers: Old-School Watch Dealers

Snap Is Stuck in the Darkroom

Warner Bros. Discovery’s DC Superhero Universe to Take On Marvel

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Morning News: January 31, 2023
Posted by Eddy Elfenbein on January 31st, 2023 at 7:07 am

Cash Is King in Lebanon as Banks Atrophy

Common Currency Proposal for Brazil and Argentina Draws Skepticism

Russia Sidesteps Western Punishments, With Help From Friends

The World’s Next Big Inflation Surprise Is Looming In China

Europe’s Economy Edges Higher, Heading Off Forecasts of Recession

IMF Upgrades Outlook for Global Economy as Inflation Eases and China Reopens

The Alternative, Optimistic Story of Population Decline

Fed Points Toward a Pause in May Once Hikes Have Time to Sink In

Fed Officials See Lots of Room to Shed Bonds from Balance Sheet

Wall St. Is Counting on a Debt Limit Trick That Could Entail Trouble

Top Bond Fund Bets Markets Are Wrong on Rates, Again

Ex-Citi Analyst Who Exposed Libor Takes Aim at Its Successor

The U.S. Consumer Is Starting to Freak Out

The Pandemic Used-Car Boom Is Coming to an Abrupt End

Caterpillar Costs Bite in First Earnings Miss Since 2020

The Last Boeing 747 Leaves the Factory

Can the DOJ Disrupt Google’s Ad Tech Dominance?

Celebrities Who Endorsed Crypto, NFTs Land in Legal Crosshairs After Investor Losses

J&J’s Talc Bankruptcy Case Thrown Out by Appeals Court

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Morning News: January 30, 2023
Posted by Eddy Elfenbein on January 30th, 2023 at 7:02 am

Upstart Indian Shipper Helps Get Russian Oil to Market

How Quickly Rate Increases Slow the Economy Could Shape 2023 Fed Policy

Milton Friedman Isn’t Required To Confirm That Monetarism Is Monetary Phrenology

Morgan Stanley Says Don’t Buy the Rally as Fed Looms

Adani Rout Hits $68 Billion as Fight With Hindenburg Intensifies

Even on $100k Plus, More Americans Are Living Paycheck-to-Paycheck

Key Part of Biden’s Student Loan Plan Carries Hefty Price Tag

Wall Street Is Losing Out to Amateur Buyers in the Housing Slump

Politicians Want to Keep Money Out of E.S.G. Funds. Could It Backfire?

‘Recession Resilient’ Climate Start-Ups Shine in Tech Downturn

Toyota Rethinks EV Strategy With New CEO

Nissan, Renault Agree on Alliance Shake-Up

The Computer Chip Wars: How AMD Ended Intel’s Market Dominance

Historic Crash for Memory Chips Threatens to Wipe Out Earnings

Chinese Search Giant Baidu to Launch ChatGPT-Style Bot

How a Drug Company Made $114 Billion by Gaming the U.S. Patent System

When Private Equity Came for the Toddler Gyms

Bed Bath & Beyond’s Woes Prompt Landlords to Line Up New Tenants

Will the Metaverse Be Entertaining? Ask South Korea.

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Morning News: January 27, 2023
Posted by Eddy Elfenbein on January 27th, 2023 at 7:04 am

UK Chancellor Dismisses Tax Cuts and Pushes Against Green Subsidies

Is UK Being Left Behind in Global Fight for Investment?

Bond Strategists Take Axe to U.S. Treasury Yield Forecasts

Debt Ceiling Clash Revives Dispute Over Paying Bondholders First

Fed Sees Soft Landing as Silver Lining of Temp Jobs Decline

This Fund Made a 32% Return by Embracing the ‘Uncomfortable’

What’s Passive Income? It’s Not What Influencers Say It Is.

Want a Pay Raise? Work Five Days a Week in the Office

Thank You for ‘Navigating’ the Pandemic

Adani Rout Crosses $51 Billion as Stocks Plunge by Daily Limits

World’s Richest Man Sees LVMH Empire Post Record $86 Billion in Sales

Chevron Posts Record Profit, Bolstering $75 Billion Buyback Plan

AmEx Misses Profit Estimate as Loan-Loss Provisions Weigh

Bed Bath & Beyond Says It Defaulted on Debt Payments

H&M Profit Battered by Rising Costs, Russia Exit

Intel Slumps on Disappointing Earnings Amid PC Weakness

BuzzFeed to Use ChatGPT Creator OpenAI to Help Create Quizzes and Other Content

How Lego Built a Media Empire Beyond Bricks

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Morning News: January 26, 2023
Posted by Eddy Elfenbein on January 26th, 2023 at 7:09 am

Strong U.S. Economic Growth Expected in Fourth Quarter, Outlook Darkening

The Cost of Going Over the Fiscal Cliff Is Trauma Then Unending Pain

U.S. Inflation Roller Coaster Prompts Fresh Look at Long-Ignored Money Supply

America Has a Debt Problem, and the Answer to It Starts With Form 1040

NYSE Mayhem Traced to a Staffer Who Left a Backup System Running

Why The Times is Resuming Its Emphasis on Annualized Figures for G.D.P.

Hindenburg vs Adani: The Short Seller Taking on Asia’s Richest Person

Morgan Stanley Fines Its Bankers Over Messaging Breaches

Canada Expected to Buck Trend of Big Investment Banking Layoffs

Small-Business Hiring at Odds With Fed Strategy

Google Girds for Second Antitrust Battle as DOJ Targets Its Ads Business

What the NFL Playoffs and Tech Layoffs Have in Common

Tesla Warns of Uncertainties as It Posts Record Profit

Elon Musk Explores Raising Up to $3 Billion to Help Pay Off Twitter Debt

The US Hasn’t Noticed That China-Made Cars Are Taking Over the World

Toyota CEO to Step Down, Become Chairman

High-Earning Men Are Cutting Back on Their Working Hours

McDonald’s, In-N-Out, and Chipotle Are Spending Millions to Block Raises for Their Workers

Sundance, Once a Hotbed for Film Deals, Tries to Find Its Footing

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Morning News: January 25, 2023
Posted by Eddy Elfenbein on January 25th, 2023 at 7:04 am

Natural Gas Shortages Hit China as Temperatures Plunge

Climate Change May Usher in a New Era of Trade Wars

The Newest Contraband at the Mexican Border: Eggs

Inflation Is Cooling, but Prices on Many Items Are Going to Stay High for Months

U.S. Economy Slows, as Europe’s Picks Up

Is a US Recession Near? Making the Call Is Trickier Than Ever

Does America Have Too Much Debt?

Private Equity’s Loved Assets Turn Problem Children in Downturn

Bank of America Employees to Share in Restricted Stock Award

Hindenburg Targets Asia’s Richest Man, Triggering Adani Selloff

Murdoch Backtracks on Plan to Merge His Media Empire

DOJ Sues Google, Seeking to Break Up Online Advertising Business

Microsoft Earnings Fall Amid Economic Concerns

The Unknown Hedge Fund That Got $400 Million From Sam Bankman-Fried

Walmart Raises Starting Wages for Store Workers

How Tesla’s Price Cuts Could Spur an EV Pricing War

Tesla Eyes $3.6 Billion Factory Expansion

Five Stars, Zero Clue: Fighting the ‘Scourge’ of Fake Online Reviews

How to Be 18 Years Old Again for Only $2 Million a Year

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