Its The Economy, Stupid - Economic & Business News From Around The World

[Fwiffo]

Judge puts temporary pause on Paramount-Warner merger

Twelve state attorneys general requested a temporary restraining order barring Paramount Skydance from closing the blockbuster deal.

www.nbcnews.com

Nothing the Supreme Court can’t sort out for you

 

[Fwiffo]

Trump to hit Canada with new 50% tariff

"U.S. President Donald Trump is moving to impose tariffs of 50 per cent on a wide range of Canadian exports, a dramatic ramping up of his trade war against his northern neighbour.

The 50 per cent rate is being imposed in response to what a senior administration official described as Canada's retaliation against U.S. trade policy and its discrimination against U.S. motor vehicles, dairy and alcohol.

While energy, potash, critical minerals and fish would be exempt, other products that until now have been allowed into the U.S. tariff-free under terms of the Canada-United States-Mexico Agreement (CUSMA) would be hit."

So that's the answer to free trade renewal? 50% tariff.

 

[Fwiffo]

Situational Awareness, the hedge fund making headlines

He's a 25 year old Columbia grad and sat on a future fund team of Sam Bankman's FTX. With zero investment experience people started investing in his fund.

Mental.

 

[Fwiffo]

Job losses in July and negative revisions reveal a weakening U.S. labor market

In a troubling sign for the economy, the Bureau of Labor Statistics said that it revised down the prior two months’ jobs by a combined 103,000.

www.nbcnews.com

Not good news for the mid terms.

 

[Fwiffo]

Trump tariffs could see Canadian exporters lose half their revenue: survey

Tariffs on top of the ‘free’ trade deal.

Do we expel the US ambassador before or after the 19th August?

 

[Fwiffo]

Costliest US Bond Sale Since '01 Is Investor Warning to Bessent

The US government sold 30-year bonds at the highest interest rate in a quarter of a century, a testament to investors’ demand for compensation to finance the nation…

financialpost.com

Continuing to mortgage the future...

 

[Fwiffo]

Trump, Carney speak ahead of midnight tariff deadline

Sign a deal. Any deal. With the greatest deal maker of them all.

 

[Fwiffo]

The full list of 700 retaliatory tariffs Canada is imposing on the U.S.

Good thing I used my last Brooks Brothers gift card to get a made in Thailand suit across the border.

No AE shoes for me.

 

[Fwiffo]

Republicans back Trump in his trade war with Canada

"They were given the best possible deal, more generous than anybody else across the globe, and it's something that they turned their back on,"

Three guys from three states basically repeated all the same lines. Bravo

 

[Fwiffo]

Venezuela says it retains ‘sovereignty’ following US oil deal

Under the deal, $19 from every barrel of oil sold to the US will flow to Caracas, interim President Rodriguez says.

www.aljazeera.com

Venezuela keeps $19 per barrel - fixed regardless of market. Here I kept thinking Alberta selling at a $20 / barrel discount from Brent and NY crude price was bad enough.

 

[Fwiffo]

U.S. added 162,000 jobs in August, but wage growth continues to lag inflation

Revisions to June and July data boosted payrolls by 55,000, pointing to a labor market that is stronger than many economists believed.

www.nbcnews.com

USA! USA!

 

[Fwiffo]

Trump calls for a Bombardier plane ban, drawing pushback from a GOP senator

The president ripped the Canadian aerospace company Monday amid a trade war with the country, but Sen. Jerry Moran, R-Kan., came to Bombardier’s defense.

www.nbcnews.com

Day 1 of the retaliatory tariffs.

 

[Fwiffo]

Oil hits $100 a barrel for first time in months as Middle East conflict intensifies again

The international benchmark, Brent crude, breached the symbolic threshold Wednesday after the latest flare-up between the United States and Iran. Gas prices also rose to their highest level since early June.

www.nbcnews.com

Big oil is back again.

 

[Fwiffo]

Inflation ticked up in August, setting the stage for the Fed to hike interest rates

“The fate of the September meeting lies with August CPI,” Citigroup economists wrote.

www.nbcnews.com

Rate hikes are coming!

 

[Fwiffo]

Bessent dared the markets to ‘bet against’ him. Bond traders did — and appear to be winning.

As the Trump administration digs deeper into its toolbox to lower longer-term bond yields, they’re only surging higher.

www.nbcnews.com

Oops

 

[Fwiffo]

U.S. in talks to buy potash from Belarus at lower cost than what Canada charges, Trump says

Minsk confirms deal, but says most of the country’s exports are already destined for other markets

www.theglobeandmail.com

You went from buying from your NORAD, NAFTA and NATO ally to the one guy that was the first to jump to support the war on Ukraine. Lukashenko.

 

[Fwiffo]

U.S. labor market slows with midterms on the horizon

The economy added only 29,000 jobs in September, while wage growth again lagged inflation.

www.nbcnews.com

Slow labour market. No rate hikes. Higher stock indices.

 

[Fwiffo]

Paramount completes $110B Warner Bros. merger to form Skydance

The deal puts CEO David ‌Ellison in control of one of the world’s largest entertainment companies.

www.nbcnews.com

Mr. Ellison is now in charge

 

[Fwiffo]

Trump eases Russia sanctions, says Putin will release diesel amid massive price spikes

Escalations in the Russia-Ukraine war have caused diesel costs to spike this fall, repeatedly setting all-time records.

www.nbcnews.com

Belarussian potash OK.

Russian oil, very OK.

 

[Fwiffo]

Starbucks is ‘not buying Chipotle’ after report it explored a deal

The coffee giant had reportedly hired advisers to work on a Chipotle takeover proposal.

www.nbcnews.com

The old boss isn't back to buy his old workplace.

Was an insane idea given there aren't any synergies and Starbucks is many times bigger than Chipotle in retail footprint.

 

[Fwiffo]

Will the Fed raise interest rates this month? A Kevin Warsh speech could offer clues

Two inflation reports this week set the stage for a rate hike potentially sooner than previously expected.

www.nbcnews.com

Inflation is totally under control.

 

[Fwiffo]

Microsoft offers buyouts to around 60,000 employees to contain costs

Like other tech giants, Microsoft is spending hundreds of billions of dollars on AI data centers and chips.

www.nbcnews.com

I wonder if this is my cousin.

 

[Fwiffo]

Anthropic reveals $80 billion loss, huge spending spree ahead of IPO

The company warned that AI could “pose catastrophic or existential risks to humanity” as cybersecurity fears grow.

www.nbcnews.com

Invest in the hockey stick of exponential earnings!

 

[Fwiffo]

DoorDash to acquire Instacart for $17 billion, creating delivery giant

DoorDash has emerged as the most successful stand-alone online delivery platform, commanding some two-thirds of all food delivery volumes in the U.S.

www.nbcnews.com

The strong takes over the weak. Or the weak are pairing up.

Fees for food delivery are astronomical. I am always unsure who can afford the convenience

 

[Fwiffo]

Stocks plunge as election outcome and AI worries crush tech shares

The Nasdaq 100 index dropped 6.3%, erasing $2.3 trillion in market value.

www.nbcnews.com

Damn you Democrats!

 

[Fwiffo]

Nvidia opens investigation after report CEO Jensen Huang was target of foreign intelligence

CEO allegedly ‌had a close relationship ‌with a Chinese businesswoman who passed information to ‌Beijing

www.theguardian.com

Midterm election night: Jensen Huang might have had an alleged Chinese spy in his inner circle for years.

Yesterday: Jensen Huang slept with the woman Alice Huang. Nvidia board is investigating.

Today: No, Alice is not related to Jensen.

Was it really worth it?...really? Her?

 

[Fwiffo]

Nvidia stock slides after NYT report alleges Jensen Huang had a second affair — with an employee

The report comes days after Huang admitted to an affair with a woman who is believed by U.S. intelligence of being a Chinese spy.

www.cnbc.com

He’s sleeping with everyone…

But it’s okay by the President. Jensen is an honourable guy. He probably has an excuse for it.

 

[Fwiffo]

Putin Orders Sanctioned Russian Bank Seize UK Brokerage Assets

For the benefit of the motherland...

 

[Fwiffo]

Former Nvidia CEO Huang had a relationship with a second employee, sources say

"Ousted Nvidia CEO Jensen Huang had an intimate relationship with a second employee, according to two people ‌familiar with the matter, Reuters has learned.

The revelation follows two other extramarital affairs that led to his resignation Thursday. The two women are Alice Huang, who US intelligence suspects of being a Chinese spy, and Kimberly Powell, Nvidia’s vice president of health care."

I'd like to know her ethnicity to gauge his taste in women.

 

[Thruth]

Former Nvidia CEO Huang had a relationship with a second employee, sources say

"Ousted Nvidia CEO Jensen Huang had an intimate relationship with a second employee, according to two people ‌familiar with the matter, Reuters has learned.

The revelation follows two other extramarital affairs that led to his resignation Thursday. The two women are Alice Huang, who US intelligence suspects of being a Chinese spy, and Kimberly Powell, Nvidia’s vice president of health care."

I'd like to know her ethnicity to gauge his taste in women.