Morning News: July 11, 2023
Posted by Eddy Elfenbein on July 11th, 2023 at 7:08 am

China Signals More Economic Aid After Property Debt Relief

UK Mortgage Rates Surge to 15-Year High After Surpassing ‘Mini-Budget’ Peak

Italian Banks See Deposits Plunge, Credit to Firms at 8-Yr Low

America’s Biggest Banks Are Going to Need More Capital

Gensler Asserts SEC Authority Over Crypto as Opponents Waver

CLO Market Set for $20 Billion Reset Spree in Sign of Thawing

Short Seller Andrew Left Is Living in Fear of the Feds

Americans Prepare for Tighter Budgets as Student Loan Payments Resume

No, ‘Socialism’ Isn’t Making Americans Lazy

Berkshire Buys Bigger Stake in LNG Facility. It Doesn’t Fear Fossil Fuels

Jeff Bezos and Bob Iger Top Sun Valley List, With AI and Streaming in Focus

The Next Challengers Joining Nvidia in the AI Chip Revolution

China Gallium Curbs Raise Chip Questions for Future EV Models

Foxconn Pulls Out of $19 Billion Chipmaking Project in India

The Rapid Rise of Threads Appears to Be Hurting Twitter

iQuit: My Hellish Attempt to Leave Apple’s Walled Garden

A Tiny Fish That Fuels an Atlantic Ecosystem Now Fuels Industry Debates

Facing a Battle for Armored Steel, This Tank Maker Bought the Factory

At Auction, American Cars Are Often Not Valued as Highly as their European Counterparts

PGA Tour Will Tout Minimal Saudi Influence in Golf Merger at Congressional Hearing

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Morning News: July 10, 2023
Posted by Eddy Elfenbein on July 10th, 2023 at 7:07 am

How a Distant War Is Threatening Livelihoods in the Arctic Circle

China and the U.S., Still Adversaries, Are Talking. That’s a Start

China Slides to Brink of Deflation, Adding Stimulus Urgency

Jack Ma’s Clash With Beijing Costs $850 Billion

Why China’s Young People Are Not Getting Married

Deutsche Bank’s DWS and Allegations of ‘Greenwashing’

Why Are Free-Market Thinkers So Fearful of CBDCs?

Powell Haunted by Repo Crisis as Fed Aims to Cut Balance Sheet

Banks’ Newest Fed Headache: Nonstop Instant Payments

Last Mile of the Inflation Fight Will Be the Hardest

Wave of Rental Resets to Further Deplete Affordable Housing

Morningstar Makes a Bold Call That Housing Market Affordability Will Be Restored by 2025. Here’s How

There’s More Pain Ahead for S&P 500 as Profit Warnings Loom, Investors Say

A Soft Corporate-Earnings Season Poses Next Test for Stock Market Rally

The Math Problem Stymieing Small Businesses in Rural America

Will Threads Kill Twitter?

Carl Icahn Gets Breathing Room From Lenders Following Short-Seller Attack

Move Over Dubai. This Tiny Emirate Wants to Be the Next Haven for Billionaires

The Super Rich Are Snapping Up Tokyo’s New Ultra-Luxury Homes

A PGA Tour Director’s Exit Casts a Pall Over Proposed Saudi Deal

Disney World Hasn’t Felt This Empty in Years

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

The Contentious U.S.-China Relationship, by the Numbers

U.S. Oil Boom Blunts OPEC’s Pricing Power

Oil is Hard to Quit, Even in Norway Where Electric Cars Rule the Road

Why a Strong Jobs Report Could Rattle the Markets

Traders Brace for US Payrolls With Global Yields at 15-Year High

Blackstone Sees Openings for Private Credit as Tech Growth Slows

Everyone Wants Interest on Their Deposits. That’s Bad for Main Street Banks

Binance Executives Exit as the Regulatory Heat on the Largest Crypto Exchange Intensifies

Alibaba Surges on Report China to Unshackle Ant With Fine

Character.AI Is Ridiculous. Its Founders Are Not

The AI Boom Isn’t Breaking the Memory-Chip Slump—Yet

Google, Meta Take on Trudeau in Proxy Fight Over Digital News Content

Meta’s New Threads App Is Terrible. It Just Might Bury Twitter

Apple Plans a Slow, Appointment-Only Rollout of Its $3,500 Vision Pro

Elon Musk’s SpaceX Now Has a ‘De Facto’ Monopoly on Rocket Launches

New York State Built Elon Musk a $1 Billion Factory. ‘It Was a Bad Deal.’

The ‘Whisper Listing’ Gets Louder

Gen X Is in Charge. Don’t Make a Big Deal About It.

Barbie Movie Is About More Than Selling Dolls for Mattel

Ex-Amazon Manager Sentenced to 16 Years in Prison in $9 Million Theft Scheme

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Morning News: July 6, 2023
Posted by Eddy Elfenbein on July 6th, 2023 at 7:03 am

Indian State-Run Banks to Be Cautious Buyers of Government Bonds as Yields Rise, Treasurers Say

Yellen Faces a Diplomatic Test in Her High-Stakes Visit to China

African Governments Step Up Demands for Share of Carbon Profits

Oil Below $80 a Barrel ‘Not a Problem’ for Oman, Minister Says

Jefferies Sees Turnaround in Deals After Prolonged Drought

America Is Living on Borrowed Money

As Greedflation Starts to Fade, Wageflation Creeps In

The US Is Building Factories Again, But Who Will Work There?

Americans Are Working Fewer Hours and That Holds Clues for Job Market

Americans Have Quit Quitting Their Jobs

The Average American Feels They’d Need Over $200K a Year to be Financially Comfortable

FTX Lawyer Who Made Problems Disappear Is Caught Up in Crypto Firm’s Fallout

How Tom Brady’s Crypto Ambitions Collided With Reality

From Banks to BBQ, Brands Targeting Conservatives Fuel a Parallel Economy

JetBlue, Turning Focus to Spirit Deal, Won’t Try to Save American Partnership

New Car Sales Jumped in the Second Quarter

Tesla and Chinese Rivals Signal Truce in Brutal EV Price War

Instagram Snags 10 Million Users Within Hours for Threads App, a Threat to Twitter

As Businesses Clamor for Workplace A.I., Tech Companies Rush to Provide It

In the Age of A.I., Tech’s Little Guys Need Big Friends

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Morning News: July 5, 2023
Posted by Eddy Elfenbein on July 5th, 2023 at 7:09 am

What’s Behind the Firmer-Than-Expected Yuan Fixings?

ECB’s Nagel ‘Wary’ of Calling New Era of High Rates

It’s a World of Inflation

The US Middle Class’s Economic Anxiety Will Decide the 2024 Election

How to Deal With Financial Trauma

Bulls Still Bet on Year of the Bond Even as Fed Eyes Rate Hikes

Hedge Fund King Street Raising Funds for ‘Slow-Motion Car Crash’ in Credit

Exxon’s Meager Bonuses Make Attracting More Traders Difficult

China’s Export Curb on Chip-Making Metals Prompt Countries to Explore Supply-Chain Diversification

Auto Sales Defy Gloomy Forecasts

How China Came to Dominate the World’s Largest Nickel Source for Electric Cars

Tesla Tests the Limits of Elon Musk’s Minimal Model Strategy

Judge Orders Biden Officials to Limit Contact With Social-Media Companies

In Business, ‘Flat’ Structures Rarely Work. Is There a Solution?

UPS Drivers Head Toward Possible Strike as Labor Talks Stall

Is This All-You-Can-Fly Deal Ridiculous, or Ridiculously Great?

Monster Energy Makes Big Move to Challenge Coke and Pepsi

No One Can Stop Rupert Murdoch. That’s Increasingly a Problem

Amazon CEO Asks His Hollywood Studio to Explain Its Big Spending

TV’s Golden Era Proved Costly to Streamers

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Morning News: July 4, 2023
Posted by Eddy Elfenbein on July 4th, 2023 at 7:15 am

Italy Has Frozen Russian Oligarchs’ Assets Worth $2.5 Billion

Spain May Be Moving Too Fast in Its Green Energy Push

China Takes the Trade Fight to Europe, Targeting the Green Transition

Yellen’s China Visit Aims to Ease Tensions Amid Deep Divisions

U.S. Looks to Restrict China’s Access to Cloud Computing to Protect Advanced Technology

Mackenzie Equity Chief Says It’s Time to Buy Bonds After Tech-Fueled Rally

Credit Suisse Wealth Staff Told to Prep for Management Roles

The Surprising Striver in the World’s Space Business

A Flying Car Prototype Just Got an Airworthiness Certificate from the FAA

Samsung’s A.I. Moment Is Here, but Is It Ready?

Tesla’s June Shipments in China Soar as Global Sales Hit Record

Twitter to Make TweetDeck Available Only to Paid, Verified Users

Instagram Launch of Twitter Rival ‘Threads’ Expected on Thursday

Meta Loses Appeal on How It Harvests Data in Germany

Billionaire Winklevoss Outlines ‘Final Offer’ in Genesis Crypto Bankruptcy

Crispin Odey’s Hedge Fund Empire Is Disintegrating Bit by Bit

SPAC Tied to Trump’s Media Business Says It Has a Deal With Regulators

Migrant Workers Flee Florida as New Immigration Law Takes Effect

Remote Work Sticks for All Kinds of Jobs

Spider-Man’s Pavitr Prabhakar, Based on Peter Parker, Drives India Wild

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Morning News: July 3, 2023
Posted by Eddy Elfenbein on July 3rd, 2023 at 7:06 am

A $30 Billion Disaster Is Just the Tip of a Deadly Climate Cycle

Widespread Drought Creates Winners and Losers in U.S. Agriculture

Saudis and Russia Extend Oil Supply Cuts, Bolstering Prices

Utility Companies Sell Wind, Solar Farms to Shore Up U.S. Power Grid

Cracking Down on Dissent, Russia Seeds a Surveillance Supply Chain

Yellen Heads to China This Week Advancing US Bid to Fix Ties

An 800% Stock Market Rally Puts Zimbabweans on Edge

Bridgewater’s Greg Jensen Sees a ‘Bad’ Outlook for Bonds and Stocks

Hedge Funds on the Brink of Abandoning Bullish Dollar Bets

Lithium Scarcity Pushes Carmakers Into the Mining Business

Tesla and BYD Post Record Sales on Surge in Electric-Car Demand

What Apple Did to Hit $3 Trillion

Zuckerberg’s Quest to Re-Enter China Faces Challenge: His Own Words

He Spent $140 Billion on AI With Little to Show. Now He Is Trying Again

Labor Market Headfake? Key Report Could Be Overestimating Job Growth

Industries Reliant on Thriving Downtowns Suffer From Remote Work

How to Succeed in Business Like Taylor Swift

More Chicken, Lighter Beer, Pink Drinks: Companies Craft New Products for Gen Z Tastes

Tyson Foods to Drop ‘No Antibiotics Ever’ Label on Some Chicken Products

Fireworks Have a New Competitor: Drones

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Morning News: June 30, 2023
Posted by Eddy Elfenbein on June 30th, 2023 at 6:15 am

China’s Economic Woes Are Multiplying — and Xi Jinping Has No Easy Fix

What Wagner’s Russian Mutiny Means for Putin and the World

Billionaire in Erdogan’s Shadow Thrives From Turkey’s Gold Trade

Eurozone Inflation Slows, but Underlying Price Pressures Persist

The End of LIBOR Is (Finally) Here

Jerome Powell Says Next Phase of Rate Rises Will Be Harder to Predict

SEC Chair Gensler Must Recuse Himself From Crypto Enforcement Decisions

American States Once Awash In Cash See Their Fortunes Suddenly Reversed

Wall St. Foresees a Rosy 6 Months. Corporate America Isn’t So Sure

Allianz Says Pimco Flows ‘Shaky’ as Investors Assess Rates

Scaramucci Says AI Stocks Are a Bubble But Buy Them Anyway

Apple Eyes Historic $3 Trillion Valuation Amid Big Tech Surge

TikTok Dangles Zero Seller Fees Ahead of US Marketplace Debut

You Should Be Getting Paid to Prevent Heat Wave Power Outages

New Mexico Regulators Fine Oil Producer $40 Million for Burning Off Vast Amounts of Natural Gas

Elite US Colleges Lose Diversity ‘Shortcut’ After Affirmative Action Ruling

Nike Increased Prices Along With Everyone Else and Now Discounts Are Mounting

Shein Flew Influencers to China to Help Its Image. A Backlash Ensued

The Summer of ‘Barbie’ Has Only Just Begun

Grimace Shake Trend Mixes Horror with McDonald’s Mascot on TikTok

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Morning News: June 29, 2023
Posted by Eddy Elfenbein on June 29th, 2023 at 7:05 am

Where Did All That Russian Gas Go?

Wind Turbines That Shake and Break Cost Their Maker Billions

China Regulators Step Up Yuan Surveys as Currency Slump Worsens

Top Central Bankers Expect More Rate Increases Amid Stubborn Inflation

Powell Says Likely Need Two or More Hikes to Cool Inflation

Why a US Recession Might Happen in Time for 2024 Election

Biden in a Race to Reverse Voters’ Pessimism About Economy

‘Hot Money’ Is Piling Up at Banks and It’s Starting to Take a Toll

US Bank Stocks Rise as Lenders Sail Through Fed’s Stress Tests

A $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity South

Dealmakers Adrift as $1 Trillion Vanishes in First Half

Jefferies Signals Green Shoots in Wall Street’s Investment Banking Lull

Popularity of Apps for Early Paydays Masks Added Risks

Lina Khan Is Coming for Amazon, Armed With an FTC Antitrust Suit

Beyond Musk vs. Zuck: How the Big Tech Rivalries Are Shifting

Nvidia Warns of Lost Opportunities if U.S. Bans AI Chip Exports to China

The Air Jordan Drop So Hot It Blew Up an Alleged $85 Million Ponzi Scheme

Cheaper Than Water? Retailers Try to Unload Bud Light

How America’s New Favorite Beer Hammered the Competition

Overstock.com Buys Bed Bath & Beyond Intellectual Property for $21.5 Million

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Morning News: June 28, 2023
Posted by Eddy Elfenbein on June 28th, 2023 at 7:07 am

Can China Export Its Way Out of Its Economic Slump?

Biden Pitches Voters on Benefits of Big Government ‘Bidenomics’

Why Bidenomics Gets No Love From Voters

Waiting for the Godot Recession

Andurand’s Oil Hedge Fund Plunge Exceeds 50% in Worst Ever Loss

Some Wall Street Interns Are Raking in $120 an Hour This Summer

Billionaires and Bureaucrats Mobilize China for AI Race With US

Nvidia Drops on Report US Plans More AI Chip Curbs for China

Millennials Feel Shame Asking Their Parents for Money

No Job, No Marriage, No Kid: China’s Workers and the Curse of 35

Too Many Workers, or Too Few: India’s Colossal Employment Challenge

UPS Labor Talks Heat Up as Both Sides Race to Prevent First Strike in 25 Years

After Montana Banned TikTok, Users Sued. TikTok Is Footing Their Bill

Rolex and Patek Prices Fall as Subdial Index Nears Two-Year Low

Homebuyers With Short Memories Are Driving Up Prices in Hurricane-Hit Town

UK Considers Nationalization of Thames Water as Crisis Escalates

Oil, Gas Companies Urged to Pursue Relatively Cheap Fix on Emissions

The Spying Scandal Inside One of America’s Biggest Power Companies

Man Is Sentenced in $9 Million Cow Manure Ponzi Scheme

Everyone in South Korea Is About to Get One or Two Years Younger

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