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

• Stock-Market Rally Costs Bears $120 Billion (WSJ)

• Fixing Burger King’s Royal Mess (WSJ)

• Alibaba CEO and Chairman Zhang to step down to focus on cloud business (RT)

• UBS to Face Penalties Over Credit Suisse’s Archegos Fiasco (BBN)

• Intel spends $33 billion in Germany in landmark expansion (RT)

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

• Binance Reaches Deal With Government to Avert U.S. Shutdown (NYT)

Economy

• U.S. housing starts surge as builders rev up single-family home construction in May, while a housing shortage drags on (MW)

• Hunter Biden to Plead Guilty on Misdemeanor Tax Charges (NYT)

• What to Know About the Missing Titan Submersible and the Race to Find It (NYT)

• China cuts two more key lending rates as economy sputters (CNBC)

• China negotiating with Havana about joint military training facility in Cuba (POL)

• Wall Street is betting against America’s downtowns. (WSJ)

Mergers & Acquisitions

• Italy's TIM leaning towards KKR for talks over grid sale (RT)

• Ball Corp considers options for aerospace unit (RT)

• Wall Street giants back EDX Markets, a new cryptocurrency exchange (COIN)

Thanks for reading, see you tomorrow!

Feel free to share with a friend!