headlines...by halloapp

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12-29-2023

TECH

• Google has reached a preliminary settlement in a $5 billion class-action lawsuit accusing the company of misleading users about privacy protections in Chrome’s Incognito mode. The terms of the settlement were not disclosed.

• Apple has been granted a temporary reprieve by a US appeals court, allowing it to resume sales of its Apple Watch Series 9 and Ultra 2 models amid a patent dispute with Masimo.

• JD.com emerges victorious in an antimonopoly lawsuit against Alibaba, resulting in a 1 billion yuan ($140.68 million) fine for Alibaba.

• Nvidia launches a modified gaming chip, the GeForce RTX 4090 D, for China to comply with US export controls. The chip offers improved performance and efficiency.

• Elon Musk’s social media platform, X (formerly Twitter), lost its bid to block a California law requiring content moderation disclosure.

MEDIA

• Hedge fund HG Vora seeks board seats in Penn Entertainment due to undervaluation concerns and poor capital allocation record.

• University of Wisconsin-La Crosse chancellor fired for appearing in explicit videos with wife, claims violation of free speech rights.

• Cable operator Altice USA has sold Cheddar News to media company Archetype, owned by private equity firm Regent LP.

CONSUMER

• Françoise Bettencourt Meyers, L’Oréal heiress, becomes the first woman with a fortune exceeding $100 billion, a $28.6 billion increase this year.

• BlendJet is recalling 4.9 million portable blenders due to concerns over broken blades, spontaneous fires, and injuries.

• Chinese e-commerce giant JD.com’s stock rose after announcing plans to double fixed salaries for front-line staff in 2024.

REAL ESTATE

• Nationwide predicts UK house prices will remain flat or decline by 0.2% in 2024 due to higher borrowing costs and fewer sales. Prices fell 1.8% in 2023.

• European property company Signa is filing for insolvency with debts of $1.28 billion, including its main divisions Signa Prime Selection and Signa Development Selection.

ECONOMIC

• The US dollar is expected to end 2023 with a loss due to expectations of rate cuts by the Federal Reserve in 2024. US stocks are poised for a record high with expectations of rate cuts next year. Gold prices are set to rise as investors anticipate rate cuts. European and Asian stocks are expected to rise due to expectations of rate cuts. Bond markets have experienced a significant rally on expectations of central bank rate cuts. The world’s debt market is set for its biggest two-month gain on record.

• ClearBridge Investments’ sustainability strategy underperformed its benchmark in Q3 2023, but JPMorgan Chase, Ecolab Inc., Home Depot, CVS Health, Hologic, The Travelers Companies, and Brookfield Renewable Partners were mentioned as top stocks.

• Indian shares and bonds are expected to rally in 2024 due to foreign inflows, attractive valuations, and positive economic data. Banks, IT firms, metals, defense, renewables, and healthcare are expected to lead the stock rally. The bond yield curve is expected to steepen, and state-run banks are expected to resume buying government debt. The Nifty 50 index is expected to open higher.

• China’s economy is expected to continue slowing with no clear growth drivers, while Russia’s manufacturing sector expands. China risks a ”Lehman moment” with a massive stimulus plan.

CRYPTO

• A federal judge ruled that Terraform Labs and its founder, Do Kwon, sold unregistered securities, including UST and LUNA tokens.

• Hut 8 has been given court approval to conduct bitcoin mining operations for Celsius Network’s bankruptcy proceedings.

• India is taking strict measures against cryptocurrency by blocking access to overseas exchanges and issuing compliance notices to nine offshore providers.