Read The Evening 🥃

Author

William Lemanske
June 23, 2023 • Estimated Reading Time: 5 minutes

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

  • Wall Street ends down, snaps weekly winning streak on Fed worries (RT)

  • Option demand explodes in June as investors use bullish bets to chase stock-market rally (MW)

  • Starbucks workers at over 150 stores to go on strike over Pride decor dispute (RT)

  • Goldman Sachs faces big writedown on CEO David Solomon’s ill-fated GreenSky deal (CNBC)

  • Washington state plans to mandate Tesla's charging plug (RT)

  • Honda recalling 1.2 million US vehicles for rear camera issue (RT)

  • Banks Hit by Worst Week Since May as Regulatory ‘Waves’ Loom (BBN)

  • Bitcoin Hits Highest in a Year as Crypto Rebounds From Scandals (BBN)

  • Oil Bulls Piling in Before the Selloff Stand to Get Burned (BBN)

  • Ford preparing for new round of layoffs for US salaried workers (RT)

  • Intel stock suffers worst week in a year, while AMD, Broadcom notch six-session losing streaks (MW)

  • Pete Buttigieg warns of potential for flight delays as July 1 5G deadline looms (MW)

Economy

  • Janet Yellen Sees Bank Earnings Pressure, Mergers After March Crisis (WSJ)

  • Oil Nears a Slide of 20% From High. Why It Keeps Falling. (BAR)

  • Higher Interest Rates Hit Home Prices Again: U.S. existing-home prices fell in May from a year earlier by the most in more than 11 years (WSJ)

  • Central-Bank Action Finally Cooling Global Economy, Data Indicates a sharper than expected slowdowns in the eurozone, Japan and Australia, while U.S. growth eases slightly (WSJ)

  • Commercial real estate gets even bleaker with $64 billion in property now classified as distressed (FORT)

  • Chinese Builder Halts All Offshore Debt Payment on Property Market Weakness (BBN)

Mergers & Acquisitions

  • California, other states join FTC bid to block Amgen deal (RT)

  • Germany's Covestro rejects takeover proposal from ADNOC (RT)

  • Robinhood acquires credit card startup X1 for $95M (TC)

  • Amazon's iRobot deal faces EU antitrust investigation, sources say (RT)

Thanks for reading, see you tomorrow!

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