Unruly politicians and unchecked spending risk US debt catastrophe
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The Morning Risk Report
Business groups race to block FTC’s ban on noncompete agreements, and crypto mixer Samourai Wallet’s co-founders arrested for money laundering. Also, Ecuador’s former comptroller general convicted in case tied to Odebrecht.The Wall Street Journal - World -
‘Outrageous’ climate activists get in the faces of politicians and oil bosses – will it work?
As the climate crisis has deepened, protesters have become more confrontational – and their ambitions have grown. The head of ExxonMobil told to “eat shit” as he was about to receive an award. A US senator and coal boss called a “sick fuck”, ...The Guardian - World - Climate -
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Why now is a great time to consider debt relief
A debt relief service may be able to help you deal with mounting debt. Here's why now is a great time to sign up.CBS News - Top stories -
How to pay off $7,500 in credit card debt
Do you have $7,500 or more in credit card debt? Here are a few ways to pay it off quickly.CBS News - Top stories -
Canary Wharf offices lose £900mn of value
Docklands financial estate secures backing from lenders for £550mn debt deal against backdrop of falling valuationsFinancial Times - Business -
German Bund Yield Edges Higher on Two-Year High Consumer Sentiment Data
10-year Bund yields edged higher after an above-forecast GfK consumer sentiment index added to the better-than-expected German data this week.The Wall Street Journal - World -
Oil Edges Higher on U.S. Inventories Draw
Oil edged higher on positive demand signs after U.S. crude inventories fell for the first time in five weeks.The Wall Street Journal - World -
Better risk data should boost confidence in emerging markets
New figures show that default and recovery rates compare favourably with other debt asset classesFinancial Times - World -
Barclays chief calls for return of UK equity risk culture
British bank reports 13% decline in quarterly profits but still beats analysts’ expectationsFinancial Times - Business - United Kingdom -
Russian Missile Incursions Into NATO Risk Wider War, Poland's President Says
Andrzej Duda called the flyovers in Polish airspace provocations that put infrastructure and people in danger.The Wall Street Journal - World - Russia -
Youth mobility deal risks waking sleeping Brexit dogs
Also in this week’s newsletter, new border charges threaten to push up imported food pricesFinancial Times - World -
Foreign Aid Package Comes With New Sanctions Risks for Companies
Prosecutors will now have up to 10 years to investigate sanctions violations, and banks will be required to flag suspicious transactions that could be tied to fentanyl trafficking.The Wall Street Journal - World -
Supreme Court appears open to some presidential immunity for Trump, risking delays
Justices on the Supreme Court voiced skepticism Thursday to assertions from former President Trump’s attorneys that presidential immunity could extend to an attempted coup or the assassination of a political rival, even as they seemed ready to ...The Hill - Politics - Donald Trump -
Anne Heche's 'insolvent' estate cannot settle debts, actor's son claims in legal docs
Homer Laffoon, Anne Heche's son and the executor of her estate, said in legal documents that his mother's estate is 'not in a condition to be closed.'Los Angeles Times - Entertainment -
Anne Heche’s son says her estate cannot pay its debt of over $6 million
Anne Heche’s son said her estate is unable to pay its debts following her 2022 death after the fiery crash of her car into a Los Angeles home.NBC News - Top stories -
As Meta’s stock slides, investors are flocking to its bonds and other Magnificent Seven debt
As Meta Platform Inc.’s stock suffers a bruising 13% rout on Thursday, investors are flocking to its bonds, which are seeing the most net buying of any of the so-called Magnificent Seven companies.MarketWatch - Business -
Hunt defends job cuts to increase defence spending
The chancellor says cutting services will cost "a great deal less" than allowing Russia to succeed in Ukraine.BBC News - Top stories -
Meta Says It Plans to Spend Billions More on A.I.
Along with the higher spending, the owner of Facebook, Instagram and WhatsApp projected lighter-than-expected revenue, causing its stock to plummet.The New York Times - Top stories -
Meta Says It Plans to Spend Billions More on A.I.
Along with the higher spending, the owner of Facebook, Instagram and WhatsApp projected lighter-than-expected revenue, causing its stock to plummet.The New York Times - Business -
Meta's License to Spend on AI Gets Checked
The Facebook parent’s capital expenditures this year will rival outlays from Google and Microsoft, but advertising growth is slowing.The Wall Street Journal - World - Meta -
Blackstone struck a deal to acquire restaurant franchiser Tropical Smoothie Cafe from Levine Leichtman Capital for nearly $2 billion, including debt.
Blackstone struck a deal to acquire restaurant franchiser Tropical Smoothie Cafe from Levine Leichtman Capital for nearly $2 billion, including debt.The Wall Street Journal - World -
As more borrowers qualify for student loan forgiveness, incoming college freshmen are set to rack up $37,000 in new debt, report finds
Most families take out student loans to cover the rising cost of college. A new report found that incoming freshmen may have $37,000 in debt by graduation.CNBC - Business -
Employee stock purchase plans offer 'free money' — but also carry complexity and risk, experts say
If you work for a publicly traded company, you may have access to discounted company shares via an employee stock purchase plan, or ESPP. Here's what to know.CNBC - Business -
Russia-Ukraine war live: ‘mortal’ Europe needs stronger defence, says French president
Emmanuel Macron says Europe faces existential threat from Russian aggression and calls on continent to adopt ‘credible’ defence strategy. Russia has vetoed a UN security council resolution calling on all nations to prevent a dangerous nuclear arms ...The Guardian - World - France -
Champions League 2024-25: Who has qualified, who is at risk of missing out and what to know
Some UCL regulars are in danger across England, Spain, Italy, Germany and FranceCBS Sports - Sports -
3M to recall about 40,000 noise-reducing earmuffs due to risk of overexposing user to loud noise
Earmuffs can develop cracks in the colored portion of the plastic cups, says consumer watchdogMarketWatch - Business -
Justice Jackson suggests Trump claims risk turning Oval Office into 'seat of criminality'
Supreme Court Justice Ketanji Brown Jackson seemed to reject arguments from former President Trump’s attorneys Thursday that the justices must distinguish between personal and official acts to determine whether a president could be prosecuted, ...The Hill - Politics - Donald Trump -
We're lowering our Honeywell price target after earnings. The risk-reward is still favorable
Honeywell's first-quarter results topped expectations. But its current-quarter outlook came up short, pressuring the stock.CNBC - Business -
GDP report revives stagflation fears in the market, with growing risk of a Fed rate hike seen
Thursday’s U.S. economic data is ringing alarm bells in the minds of traders, economists and others, who are beginning to voice concerns that the world’s largest economy could be shifting into a stagflation-type of environment.MarketWatch - Business - Federal Reserve -
Sunak pledge to boost defence spending raises prospect of cuts elsewhere
Economists and opposition question how government will lift MoD share of GDP to 2.5% and find extra £75bnFinancial Times - Business -
Zuckerberg defends Meta’s AI spending spree as shares tumble
Parent of Facebook and Instagram reports better than expected quarterly revenue but raises capex guidanceFinancial Times - Business -
Zuckerberg defends Meta’s AI spending spree as shares tumble
Parent of Facebook and Instagram reports better than expected quarterly revenue but raises capex guidanceFinancial Times - Business -
Meta says revenue will be weak as it spends even more on AI
Push to integrate AI into Meta products boosts financial results, but share prices tumble with weak sales forecast. Meta’s drive to integrate artificial intelligence into its products yielded strong financial results for the second quarter in a ...The Guardian - World -
Meta’s plans for AI spending spree send shares lower
Parent of Facebook and Instagram reports better than expected quarterly revenue but raises capex guidanceFinancial Times - Business -
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Meta’s plans for AI spending spree send shares lower
Parent of Facebook and Instagram reports better than expected quarterly revenue but raises capex guidanceFinancial Times - Business -
Zuckerberg defends Meta’s AI spending spree as shares tumble
Parent of Facebook and Instagram reports better than expected quarterly revenue but raises capex guidanceFinancial Times - Business