Plus, Exxon calls ESG bluff...
August 29, 2023 | Read Online | | | | | | *past 24-hour performance |
| | A sweet acquisition: Hostess Brands (TWNK), the maker of Twinkies, is exploring a sale after fielding takeover interest from major food makers (Reuters)
Eerily calm markets: The S&P 500 hasn't notched a one-day move of 2% in either direction in more than 6 months. That's the calmest stretch since 2018 and one of the longest of the past 25 years (WSJ)
China’s market band-aid: A brief rally in Chinese stocks fizzled out in Monday trading, a sign that China's attempts to prop up its stock market are flailing as investors fret over the health of the nation's economy (Inside)
Exxon calls bluff: The largest U.S. oil producer projects the world will reach 25 billion metric tons of energy related CO2 emissions in 2050 – more than twice the 11 billion the IPCC says would be needed on average in its Lower 2°C scenarios (WSJ)
AA's costly grounded games: American Airlines (AAL) was fined $4.1 million, the largest such penalty to date, for allowing aircraft to sit on the ground for 3 hours or more without giving passengers a chance to exit (Bloomberg)
Modelo still at the top: After toppling Bud Light to become the best-selling beer brand in the U.S. on the year, Modelo Especial has extended its lead over the beleaguered Anheuser (Yahoo)
Enterprise AI: OpenAI finally released a version of ChatGPT that promises to protect business data as more companies consider using the platform but worry about privacy and security (The Verge)
Goldman ditches 'just Rich' for 'super rich': Goldman Sachs is selling part of its wealth business to independent wealth manager Creative Planning LLC as part of a strategic shift to focus on ultra-high-net-worth clients (Reuters) | | | | In partnership with Percent
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| | Investing in farmland to buffer inflation: Institutional investors have long had access to agricultural land as an income-generating, consistent hedge against inflation, but for most investors, farmland—unlike other forms of real estate—is out of reach. Read more » | Bull… or bear? The fact that fewer and fewer stocks are rallying to new highs suggests that the bear market is alive and well and that this year’s rally in the Nasdaq is a sucker rally. Read more » | Small multifamily homes were disappearing. Now states are scrambling to revive them: Construction of low-density housing like duplexes hovers near record lows, as states pass zoning reform to tackle the affordable housing crisis. Read more » |
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