Tariffs aren’t the only weapon in a trade war. Countries are also using blacklists to restrict the economic activities of certain foreign companies. While such measures are often described as necessary to preserve national security, they’re increasingly being deployed as policy tools to protect domestic constituencies or gain leverage in trade negotiations.
(Bloomberg) — A GitHub account bearing the name of former FTX executive Nishad Singh authored code that hid Alameda Research’s ballooning liabilities on the now-collapsed cryptocurrency exchange, according to internal documentation reviewed by Bloomberg News.
Warner Bros. Discovery Inc., the film and TV giant, expects to incur writedowns and merger-related costs of up to $5.3 billion, far above previous estimates as management continues to drop movie and TV projects.
Peru is set to declare a nationwide state of emergency, suspending basic rights for 30 days, to try to restore order amid widespread violent unrest.
(Bloomberg) — Florida’s legislature passed a bill that would create a state-backed reinsurance fund and attempt to ease litigation costs that have pushed a homeowners-insurance market already contending with monstrous storms toward the brink.
(Bloomberg) — Bill Ackman thinks that the Federal Reserve’s 2% inflation target is “no longer credible” after Fed Chair Jerome Powell reiterated that rate hikes will continue until inflation reaches 2%. The Pershing Square Capital Management founder added that a targeted inflation of around 3% would be a better strategy for long term growth.
(Bloomberg) — Charter Communications Inc. stock fell by largest percentage in its trading history after announcing a broadband expansion plan that will cost far more than analysts anticipated.
(Bloomberg) — Guggenheim Partners Chief Investment Officer Scott Minerd is warning investors there will be more shakeouts to come following the collapse of crypto exchange FTX as years of easy money end.
(Bloomberg) — Bond investors just don’t seem to buy what the Federal Reserve is selling: that monetary-policy rates will keep moving higher and stay there for an extended period of time.
(Bloomberg) — The relentless decline in the shares of Tesla Inc. has pushed the electric-vehicle maker’s valuation to close below the half-trillion dollar mark for the first time since November 2020.
