Tesla delivered $3.3 billion in profits during the first three months of 2022, a massive increase from the sub-$500M figure during the same period a year before. Still, the company also told investors on Wednesday that “it...more
Netflix disappointed in Q1, posting its first loss of subscribers—some 200k—in over 10 years and predicting more departures in the coming months. The news sent Netflix shares spiraling down in after-hours trading and gives...more
Back at it. Let’s get caught up . . . The latest in the Elon Musk/Twitter drama includes word that PE firm Apollo Global Mgmt is “considering” joining a bid by Musk to acquire the social media platform, a potential early...more
As forecast, consumer prices rose dramatically in March, hitting the 8.5% mark. Fuel prices led the way thanks to “a recent surge in gas costs tied to Russia’s invasion of Ukraine,” but less volatile core prices were also up...more
In the reversal heard around the tech world on Monday, Elon Musk announced that he would not be joining Twitter’s Board of Directors after all. The social media company had extended the invite to Musk after news broke that he...more
U.S. jobless claims hit 166k last week, the lowest “since November 1968, when the labor force was less than half of its current size.” Labor Department data also showed some 4.3 million workers quitting their jobs in...more
The Fed’s March meeting notes dropped on Wednesday, and they detailed the central bank’s plans to “shrink their portfolio of bond holdings imminently” as well as the “many” fed officials auguring for significant rate hikes in...more
JetBlue has made a last-minute $3.6 billion offer to buy Spirit Airlines, “throwing a wrench into Spirit’s plan to merge with Frontier Airlines and create a behemoth budget carrier.” The offer appears calculated to help...more
The man who can move the entire crypto industry in 180 characters or less disclosed on Monday a massive new stake in that medium of choice, Twitter. That move made Elon Musk the single biggest shareholder of the social media...more
4/5/2022
/ Amazon ,
CFTC ,
Cryptocurrency ,
Elon Musk ,
Financial Markets ,
Ford Motor ,
Retail Investors ,
Social Media ,
Starbucks ,
Twitter ,
Unions
Jobs Report Friday! Here’s what we’re looking for in the March numbers after reports earlier this week suggested we remain in a period of both high openings and voluntary resignations...more
White House officials are mulling over a plan that would “release one million barrels of oil a day from the Strategic Petroleum Reserve for as long as 180 days,” a move intended to ease sticker shock at the pump for Americans...more
3/31/2022
/ Activision ,
Department of Justice (DOJ) ,
Facebook ,
Financial Institutions ,
Financial Markets ,
Oil & Gas ,
Oil Prices ,
Russia ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs) ,
TikTok ,
Ukraine
As another Jobs Report rapidly approaches, the Labor Department released new data showing that job openings “remained near record levels” last month, while “the number of workers voluntarily leaving their positions...more
The White House unveiled its 2023 budget to start the week, a document that outlines the Administration’s economic agenda for the year ahead. Among other proposals, the budget proposes “a new tax on American households worth...more
Nearly two years after the European Union’s top court overturned a transatlantic agreement regulating data flows between the U.S. and the EU after finding American “safeguards on Europeans’ data to be insufficient,” President...more
The European Union is putting the final touches on its latest landmark digital legislation, the Digital Markets Act—one of “the world’s most far-reaching laws to address the power of the biggest tech companies.” The DMA is...more
Under growing antitrust scrutiny, Google announced on Wednesday that it would let some apps “offer their own billing system within the Google Play store as part of a pilot program.” That move, affecting Spotify, among others,...more
Tesla’s new Berlin factory officially kicked off the production process on Tuesday, with ambitious plans to churn out some 500,000 EVs a year. The $7 billion plant, completed in just 2 years, will focus on Model Y SUV...more
Back at it. Let’s dive right in. Fed Chair Powell Jay Powell went on the record to start the week with an attempt to prepare markets for the central bank’s big moves ahead “in its quest to cool off demand and temper...more
With Congress proving unwilling, as yet, to press forward with a comprehensive federal privacy law, states and agencies are filling the void. The latest to do so is the Securities and Exchange Commission, which this week by a...more
A House Judiciary Committee is calling on the DOJ to “investigate Amazon and some of its executives for criminal obstruction of a congressional investigation that included the e-commerce giant.” At issue is the ‘Zon’s alleged...more
New CPI numbers out this week showed inflation in the U.S. rising unabated in the “month leading up to the war in Ukraine,” and the conflict is now upending hopes that 2022 would see an easing in rising prices. Certainly, the...more
Tesla CEO Elon Musk moved this week in SDNY federal court to “scrap a settlement he reached with securities regulators in 2018 that required some of his tweets to be preapproved, a condition that has fomented an ongoing...more
3/9/2022
/ Apple ,
COPPA ,
Elon Musk ,
Federal Trade Commission (FTC) ,
Financial Markets ,
Free Speech ,
Oil Prices ,
Russia ,
Securities and Exchange Commission (SEC) ,
Tesla ,
Twitter ,
UK
A weekend of skyrocketing oil prices prompted by talk of the U.S. cutting off all Russian crude imports pushed markets to their worst performance in over a year to start the week. The Nasdaq is now down more than 20% from its...more
3/9/2022
/ Biden Administration ,
Cryptocurrency ,
Cybersecurity ,
Digital Assets ,
Financial Markets ,
Google ,
Imports ,
Oil & Gas ,
Oil Prices ,
Personal Information ,
Russia ,
Trade Relations ,
Ukraine ,
US Trade Policies
Jobs Report Friday again! Here’s what we’re looking for in the numbers (though after last month, good luck with any predictions)...more
In testimony before the House Financial Services Committee, Fed Chair Powell on Wednesday assured lawmakers that despite the state of geopolitics at the moment, the central bank is still “poised to lift interest rates at its...more