Read The Evening 🥃

Welcome to your trusted evening news source, for the day's essential business and finance news. Stay informed and ahead with our curated digest of key developments and market insights. Let us provide you with the information you need to make informed decisions.

Markets

Today’s Headlines

Public Markets

• Stocks close lower for third straight day, Nasdaq drops 1% (CNBC)

• Logitech’s stock hit by reports its $30 game controller was used to steer missing sub near Titanic (MW)

• Wall Street extends sell-off as Powell hints at further rate hikes (RT)

• F.T.C. Sues Amazon for Tricking Users Into Subscribing to Prime (NYT)

• Intel stock drops 6% as company updates chip manufacturing plans (CNBC)

• FTC sues Amazon over ‘deceptive’ Prime sign-up and cancellation process (CNBC)

• FedEx to fold Canada contractor-based Ground unit into Express (RT)

• Tesla wins as Texas requires state-backed charging stations to include its plug (RT)

Economy

• Powell: Half-point of additional hikes a 'good guess' of policy outcome (RT)

• Fed’s Powell Says Interest-Rate Pause Is Expected to Be Temporary (WSJ)

• Paris air show: 'Progress' in supply chain as jet orders rack up (RT)

• China unveils $72 billion tax break for EVs, other green cars to spur demand (RT)

• U.K. Inflation Remains Stuck at 8.7 Percent (NYT)

• Missing Titanic Submersible: Search Focuses on Area Where Underwater Noises Were Heard (NYT)

• Biden Calls Xi a Dictator, Jeopardizing U.S.-China Thaw (NYT)

• European Business Confidence in China Falls to Record Low, Poll Shows (WSJ)

• U.S. Tracked Huawei, ZTE Workers at Suspected Chinese Spy Sites in Cuba (WSJ)

• Drugmakers aim to strike down Medicare drug-price negotiations at Supreme Court (CNBC)

Mergers & Acquisitions

• PayPal Expects $5 Billion in Buybacks Following Deal With KKR (BAR)

• Brookfield, Canadian pension fund to buy Compass Datacenters (RT)

• Lockheed raises concerns over L3Harris-Aerojet deal (RT)

• Saudi Arabia’s PIF Leads Bidding for $2.5 Billion Vale Base Metals Stake (BBN)

• Lilly to Acquire DICE Therapeutics to Advance Innovation in Immunology (LILY)

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