how are you? (May 22-28)
U.S. blocks Russian bond payments
At midnight Wednesday, the Biden administration revoked the exemption from drastic sanctions on Russia, which allowed the country to continue paying its external debt during the war with Ukraine.Ministry of Finance Announcement Just a few hours before the deadline. Russia is currently rushing towards the benchmarks it is trying to avoid. It is the default of external debt for the first time in more than a century. Treasury Secretary Janet Yellen said Tuesday that the exemption was intended to be temporary at all times. Nevertheless, this decision represents an escalation of US sanctions against Russia as Western nations seek to increase pressure on Russia’s economy.
Transactions with cancer makers
Last week, a mass shooting at a school in Uvalde, Texas killed 19 children and two teachers, highlighting how the company deals with firearm makers. However, many of the general public want companies to stay away from firearm manufacturers, and many may want to do so. Texas law With it taking effect last year, that stance has become more complicated. The law prohibits state government agencies from working with companies in the gun industry or companies that “discriminate” against individuals. This means that companies like JPMorgan Chase could be locked out of the state’s favorable municipal bond market if they refuse to work with gun and ammunition manufacturers. Just this month, just before the massacre in Yuvarde, Chase’s lawyer was ready to do more with the gun company, saying in a letter to the Texas Attorney General that the bank “did not discriminate against firearms.” Suggested that there is.
Billions of dollars acquisition
Semiconductor maker Broadcom announced Thursday that it will acquire software company VMware. $ 61 billion.. Broadcom provided VMware with the equivalent of $ 138.23 per share. This is more than 40% higher than the company’s share price before the potential acquisition was widespread. With Broadcom’s CEO having acquired many of the companies’ computer infrastructure over the years, this deal will be the latest in Broadcom’s commitment to expansion. VMware, a leading player in cloud computing, has more than 500,000 customers worldwide and is affiliated with all other major cloud providers (such as Amazon and Google). Broadcom will become the owner of a popular set of computing tools when acquiring the company, increasing its competitiveness in data center technology and cloud computing.
What’s next? (May 29th-June 4th)
How much was the gas in the tank?
Gas prices soar Last month it was about 50 cents per gallon. This means that Memorial Day weekend drivers will have a hard time finding less than $ 4 a gallon of petrol. Russia’s war in Ukraine is the most direct reason for the surge, as sanctions on Russia’s energy reduce the world’s supply. However, the driver’s habits may be adding to the pressure. Analysts say the travel boom is partly the result of Americans eager to escape after postponing plans for Covid, helping to keep prices high. Travelers also seem to be worried about high airfares. To make up for rising fuel costs, many airlines have raised ticket prices significantly, and customers are still willing to pay. Southwest Airlines and JetBlue Airlines last week Second Quarter Revenue It was expected to be higher than originally expected.
Inquiries regarding lack of powdered milk
The Biden administration has already taken steps to respond immediately to a serious infant formula shortage and is working with Abbott Laboratories to resume production. Formula plant with shutters When Flying with emergency supplies From Europe. But now, the Federal Trade Commission wants to investigate the situation that led to the shortage in the first place. Last week, the Federal Trade Commission said Start an inquiry It focuses on the integration of industries controlled by only four companies and whether federal regulations and trade agreements are preventing foreign companies from entering the market. FTC is also scrutinizing online formula resellers and seeking information from families who believe they may have been scammed or paid an exorbitant price when trying to buy a formula.
Employment market test
For months, economists have been hired in the United States Steadily This year will reach its peak. This week’s work report may be that point — or not. Americans continue to lament inflation, but many still pay much higher prices for the goods and services they want and need.Consumer habits may change, Spending remains high, And that usually means a lot of jobs. Therefore, even if the Federal Reserve raises interest rates, employment growth may continue to move forward.
what else?
Twitter is $ 150 million fine By FTC to users who are misleading about how FTC handled personal data.Fresh data showed that Inflation slows in April However, it maintained a height of nearly 40 years.And strong Financial report from retailer Last week the market rose.
