As big bank earnings season rolls on, Goldman Sachs has emerged as an early winner. Even thought profits fell “nearly 50 percent from a year ago, to just under $3 billion,” analysts had been expecting far worse. That overperformance and a “55 percent jump in second-quarter revenue from the buying and selling of bonds, currencies and commodities” has given Goldman the top spot among rivals Morgan Stanley and Citigroup - NYTimes and Bloomberg and WSJ

Apple noted on Monday that it will “slow hiring and spending growth next year in some divisions to cope with a potential economic downturn,” though the cautionary approach isn’t a companywide strategy, and Cook & Co. are “still planning an aggressive product launch schedule in 2023 that includes a mixed-reality headset, its first major new category since 2015” - Bloomberg and MarketWatch

Still, traders unsurprisingly focused on “potential economic downturn” portion of the Apple news and sank late in the day as news of Apple’s plans emerged - Bloomberg and MarketWatch

Because why not test those waters of nostalgia, Mattel has announced  that it is “dusting off three dormant lines that have not been on toy shelves in decades: Major Matt Mason, Big Jim and Pulsar.” Mattel intends to “reintroduce” the lines at Comic-Con this week under a “Back in Action” initiative - NYTimes

Treasury Secretary’s hard-fought 130-country-wide global tax agreement (that aims to “crack[] down on companies evading taxes by shifting jobs and profits around the world”) may face its stiffest challenge in her own backyard, now that W.Va. Senator Joe Machin has “expressed deep misgivings” about the deal that he “had previously indicated he could support” - NYTimes

The latest in the Twitter/Musk battle sees the former vigorously pushing back against the latter’s bid to oppose its call for an expedited trial. Twitter’s lobbying for trial dates in September, a blazing fast calendar by nearly any court metric - WSJ and Bloomberg and MarketWatch and Law360

Delta has graced Boeing with an order of 100 737Max jets, a shot in the arm for the troubled U.S. planemaker that’s still struggling to recover from the series of stumbling blocks it’s faced since two fatal crashes grounded all 737 Max models for years - WSJ and NYTimes

Chinese data authorities are poised to fine ride-hailing company Didi Global more than $1 billion over alleged cybersecurity breaches. With the fine in place, the Chinese government is likely to “ease an earlier restriction banning Didi from adding new users to its platform, and allow the Beijing-based technology company’s mobile apps to be restored to domestic app stores” - WSJ

Worthwhile Times feature here on Amazon’s Andy Jassy, the Bezos successor “trying a different approach” at the ‘Zon, both in relations with D.C. and in management of large swaths of the company that Bezos had largely delegated near the end of his tenure - NYTimes

Credit Suisse will fork over just shy of $20 million to the FDIC to resolve “legal claims brought over allegedly toxic residential mortgage-backed securities sold to the now-defunct Colonial Bank in the lead-up to its 2009 failure” – Law360

Catching up with the work of central bankers around the world as they, like the Fed, rapidly raise rates in an effort to ease “breakneck inflation” - NYTime

Trainiacs, this is for you. Hop aboard the California zephyr. Scenery and friendly banter are all part of the ride - NYTimes

Stay safe,

MDR