The U.S. economy, according to CEO Jamie Dimon, is holding strong. People’s bank accounts are in good shape, they’re spending money, and the job market is robust.
The European Union is looking into Pfizer’s $43 billion takeover of Seagen.
How the 2024 Presidential Election Fundraising Stacks Up. Joe Biden has a commanding lead over his Republican opponents.
Apocalypse in the media this summer. The business is going through unprecedented instability due to issues like the writers’ strike and the decline in advertising revenue in Hollywood and elsewhere. Consumers are more vocal about their dissatisfaction with media corporations and brands due to factors such as high prices, an overwhelming number of options, and low switching costs in the streaming wars.
Watershed Contract Keeps Messi at Inter Miami Through 2025
The appointment of a chief competition economist by the European Commission will not be rescinded. This week, Fiona Scott Morton became the first non-EU person to hold such a top job in the European Commission, but her appointment has been met with criticism.
There isn’t much interaction among Threads’ 100 million subscribers. Even though Meta’s Twitter clone has expanded swiftly, Zuck’s competitor to Bird may be failing to capture users’ interest. According to NBC’s analysis of data from Sensor Tower, the number of daily active users has dropped by around 20% since its peak, and users are spending 50% less time in the app.
RICO charges filed against Chinese company Shein. The copyright infringement committed by the fast fashion chain is so severe that the lawsuit filing it as racketeering. It is charged with breaking the law that was created to go after criminal organizations, the Racketeer Influenced and Corrupt Organizations Act (RICO). This complaint was brought in the United States District Court for the Central District of California by three fashion designers who claim that “Shein produced, distributed, and sold exact copies of their creative work.”
With this acquisition, Eli Lilly adds a new medicine to its obesity drug pipeline for $1.93 billion. The acquisition of Versanis, a privately held obesity medicine maker, is part of the pharmaceutical giant’s strategy to broaden its weight reduction therapy offerings. It’s attempting to catch up to Novo Nordisk, which broke down in the field last year with the injections Wegovy and Ozempic.
In a private equity deal worth $1.7 billion, a gamified e-learning platform was purchased. Kahoot is an Oslo-based firm that has developed a platform whereby users may make and play educational “games” that have been played by billions of students and adults around the world. An all-cash private equity (PE) deal worth $1.7 billion was announced today, taking the company out of public ownership.
Quarter 2 Investment Strategy: Tesla, Netflix, and Airlines Take Off
India’s plans include a trip to the moon. After an aborted launch four years ago, the country successfully sent a rocket to the moon’s south pole yesterday. On August 23 it should have arrived at its destination.
The FTC’s latest attempt to prevent Microsoft’s acquisition of Activision Blizzard was rejected by an appeals court, making the deal more likely to conclude on the originally scheduled date of July 18.
GRPN, JPM, MSFT, DKNG, RIVN, WMT, TSLA, HOOD, AMZN, GOOGL, COIN and AAPL were among the several stocks trending this week.
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