The Fed’s Daily is warming investors up to easing in 2024, saying that he wants to avoid overtightening, per Reuters. The SPY, an ETF of the S&P 500, received record inflows last Friday since its inception in 1993, to celebrate potential 2024 easing, per Bloomberg.
Literally and figuratively. Apple’s engineers are racing to adjust the software behind their new watch, given the ban just days away due to a patent infringement on the blood oxygen level measurement and presentation features. What’s it worth? Well, it’s a $17bn business for the co, and priceless to whomever you promised a new watch for the holidays. It will stop selling the watch online on Thurs and take them from stores by Dec 24 (pushing it, eh?).
Remember UBS scooping up CS this past year, in the infamous—who didn’t understand leverage, rates, expenses, and defaults debacle? Well, Cevian, an EZ activist thinks the co can double its share price if it focuses on smart, cost-effective integration and wealth mgmt to take on MS.
Nonbank lenders charge higher fees, per an analysis by BBG, and Latino and Black customers pay even more than other US homebuyers for mortgages.
Sellers on Amazon are saying that the co’s use of AI is creating misleading product reviews, which is hampering their sales. The co was trying to use it to covert billions of reviews into brief summaries for prospective buyers, but it sounds like product descriptions are off and negative feedback is exaggerated.
The P/E firm One Rock Capital plus Metropoulos own BlueTriton, who owns Poland Spring, Arrowhead, and other bottled water brands—and is draining sensitive water supplies across the country, per BBG. They’re taking free water, versus other companies like Coca-Cola and PEPSI who pay for public supplies. With more lobbyist and lawyers on its payroll, and with major distributions to its owners, I’d expect the company and its leaders to be in the news more often as fights brew.
More shipping firms are adjusting routes away from the Red Sea, and the US created a task force to protect vessels. Maersk and HMM redirected ships to go the longer route through the Cape of Good Hope. More than 5 LNG tankers also switched routes, so there could be delays.