headlines...by halloapp

To provide feedback, please reply to this email.

Forwarded this email? Subscribe here for more.

11-27-2023

TECH

• Facebook’s parent company, Meta, is facing a lawsuit by 33 US states alleging that it designed its platforms to attract underage users and failed to disclose millions of complaints about them on Instagram. Meta denies the allegations.

• Pentagon officials anticipate the use of fully autonomous lethal weapons, while an international agreement focuses on ensuring secure AI systems.

• Chinese smartphone maker Realme has shipped over 200 million phones since its establishment five years ago, with most of the shipments made outside of China. The company is set to launch premium phones, including the Realme GT 5 Pro.

• Alibaba shuts down its quantum computing lab, donates equipment to Zhejiang University, resulting in job cuts amid restructuring efforts.

• Major brands like Airbnb and Netflix have pulled their ads from social media platform X due to antisemitic content, potentially costing the platform $75 million in ad revenue.

• Paris Mayor Anne Hidalgo quits Elon Musk’s platform X, formerly Twitter, citing disinformation and toxicity for democracy.

• Australia’s ACCC is pushing for new competition laws to regulate digital platforms like Amazon, Apple, Google, Meta, and Microsoft due to concerns about harmful behavior, anti-competitive conduct, limited consumer choice, and invasive data collection.

• Australia is set to introduce legislation that will regulate digital payment services like Apple Pay and Google Pay, bringing them under the same regulatory framework as credit cards. The move aims to promote competition, innovation, and productivity in the country’s payments system.

• Russia has added Andy Stone, the spokesperson for Meta (formerly Facebook), to its wanted list on unspecified terrorism charges.

• OpenAI’s board and CEO drama highlights ethical leadership issues in the battle between AI profits and ethics, with concerns about lack of diversity and compromising the mission.

MEDIA

• A suspect has been arrested in the shooting of three Palestinian college students in Vermont, with evidence suggesting it may be a hate crime.

• ByteDance, owner of TikTok, is shutting down its gaming subsidiary Nuverse, impacting hundreds of jobs and fully retreating from the video game industry.

• Max Verstappen dominates F1 season, winning 19 out of 22 races and securing third title. Red Bull dominant, Mercedes and Ferrari struggle.

• Irish author Paul Lynch’s dystopian novel ”Prophet Song” wins the 2023 Booker Prize for its exploration of totalitarianism in Ireland.

• DouYu International Holdings has established an interim management committee to oversee operations after the arrest of its CEO and chairman.

• TV producer Marty Krofft, co-creator of children’s shows like HR Pufnstuf and Donny & Marie, dies at 86 from kidney failure.

• Peacock is offering a one-year subscription for $20, Paramount Plus has a three-for-one deal, Hulu is offering 12 months for $0.99/month, and Max has a 70% off deal.

• Disney’s animated film ”Wish” disappointed at the box office, ranking third with $19.5 million in domestic ticket sales.

• CM Punk made a surprise return to WWE at Survivor Series 2023, creating excitement and potential feuds with Seth Rollins and Randy Orton.

• Six teenagers are being tried in Paris for their role in the beheading of French teacher Samuel Paty in 2020.

CONSUMER

• Small Business Saturday drew large crowds in Andersonville, Chicago, Goshen had mixed results, and West Reading, Pennsylvania saw big crowds.

• Amazon has averted a planned strike on Cyber Monday in Spain by reaching an agreement with most of its workers, except for 5,000 delivery workers who will continue protesting.

• The Foundation for a Smoke-Free World, previously funded by Philip Morris International, ends funding from the nicotine industry and seeks new funders.

• BT Group has confirmed that it will not be pursuing a buyout of musicMagpie, a UK online retailer specializing in consumer technology.

• Casino Guichard-Perrachon is considering selling its hypermarket and supermarket stores to interested buyers, including Intermarche and other bidders.

• Longleaf Partners Global Fund recommends Fortune Brands Innovations (FBIN) as a stock pick in its Q3 2023 investor letter, citing a 90% return for investors.

• ”Get Ready with Me” (GRWM) videos, a popular trend on TikTok and YouTube, attract billions of views as influencers share personal stories while preparing for activities, leading to brand partnerships and income.

REAL ESTATE

• Multiple subsidiaries of Signa, an Austrian property group, are set to file for insolvency after one subsidiary filed last week.

• A study reveals that millennials prioritize working from home due to factors like raising children and long commutes, unlike Gen Zers and boomers.

• A recent poll by NORC at the University of Chicago revealed that just 13% of employers have implemented new incentives to encourage employees to return to the office, impacting employee satisfaction.

• Kennedy-Wilson Holdings (NYSE:KW) is an undervalued real estate development company with a strong portfolio and an 8.31% dividend yield, making it attractive for long-term investors.

TRAVEL

• MGM Resorts International faced Q3 challenges, according to Longleaf Partners Fund’s investor letter, highlighting multiple obstacles for the company.

• A recent report has listed the world’s 30 unfriendliest cities for 2024, including Naples, St. Louis, Milan, and New York, based on criteria like rude tourists and crime rates.

• Choice Hotels is planning to nominate directors for Wyndham Hotels & Resorts in an $8 billion takeover fight.

ECONOMIC

• Mercantile Bank Corporation (NASDAQ:MBWM) will go ex-dividend in 3 days with a dividend payment of US$0.34 per share. M&T Bank Corporation (NYSE:MTB) will go ex-dividend on November 30th with a dividend payment of US$1.30 per share. Orange County Bancorp, Inc. (NASDAQ: OBT) will pay a dividend of $0.23 per share on December 15th. BayFirst Financial Corp. (NASDAQ:BAFN) will go ex-dividend on November 30th with a dividend payment of US$0.08 per share. Associated Banc-Corp (NYSE:ASB) will go ex-dividend in the next 3 days with a dividend payment of US$0.22 per share.

• Resources Holdings Berhad’s stock rose 5.3% due to a strong ROE of 21% and significant net income growth. Optimax Holdings Berhad’s stock declined 3.6% but has promising financial prospects. Nisun International Enterprise Development Group’s stock declined 69% with a flat ROCE of 9.2%. Nestlé and Libstar Holdings have limited growth potential. Kawan Food Berhad has low returns and limited growth potential. Ajinomoto (Malaysia) Berhad and Guan Chong Berhad have experienced declines in performance. ANSYS has a lower ROCE than its previous average. PETRONAS Dagangan Berhad has a high ROCE but lacks growth opportunities. CSC Steel Holdings Berhad underperforms the industry average. 7-Eleven Malaysia Holdings Berhad is pursuing growth despite a decline in ROCE.

• The US dollar is experiencing its biggest monthly drop in a year as traders anticipate economic cues and policy decisions, leading to a weakening dollar and a stronger sterling. Investors are selling USD at a rapid pace.

• Shin Yang Group and Nova Wellness Group will go ex-dividend soon, while MTAG, Dominant Enterprise, AMMB Holdings, and Matrix Concepts Holdings have announced dividend payments. Malaysian Pacific Industries’ dividend may be at risk.

• Germany’s cabinet is set to agree on a supplementary 2023 budget and aims to present a 2024 budget by year-end, temporarily lifting borrowing limits due to a court ruling and sparking a debate on fiscal policy reform.

• UK Prime Minister Rishi Sunak announced £29.5 billion ($36.8 billion) of private-sector investments in Britain ahead of a foreign direct investment (FDI) summit. The investments include contributions from Australian funds IFM Investors and Aware Super, Spanish power company Iberdrola, and Microsoft’s £2.5 billion investment in AI infrastructure. The aim is to attract global investment and boost the UK economy.

• Chinese police have arrested employees of Zhongzhi Enterprise Group, a shadow-banking firm with a $31 billion hole in its balance sheet, as authorities investigate the company’s insolvency and potential crimes. Investors are facing estimated losses of up to $56 billion.

CRYPTO

• Israel has frozen 143 Tron wallets linked to designated terror groups, as Tron becomes their preferred funding method over Bitcoin.

• Richard Teng, the new CEO of Binance, plans to transition the company into a conventional financial firm with transparency and financial disclosures.

HEALTH

• Chinese hospitals are overwhelmed by a surge in respiratory illnesses, primarily among children, caused by known pathogens like the flu. The World Health Organization has requested more information and transparency. China’s health ministry has called for increased vaccinations, the opening of more fever clinics, and strengthened epidemic prevention measures.

• Xenon Pharmaceuticals’ shares fluctuate as its depression drug, XEN1101, shows mixed results in a clinical trial, raising concerns about long-term stability.