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

• U.S. stocks head for punishing selloff as ‘unknown unknowns’ could drag market lower, JPMorgan analysts warn (MW)

• 3M stock rallies after $10.3 billion ‘forever chemical’ settlement offered (MW)

• Virgin Galactic stock drops more than 13% after space-tourism company seeks to raise $400 million (MW)

• Overstock.com Wins $21.5 Million Bid for Bed Bath & Beyond’s Assets (NYT)

• TikTok COO Pappas Steps Down Amid Staff Reshuffling (BAR)

• Intel restructures manufacturing business (RT)

Economy

• Olive Garden parent says diners at its steakhouses spent less on booze in the latest quarter (MW)

• Bank of England hikes rates to 5% in surprise move (RT)

• Turkey’s central bank hikes interest rate to 15% in dramatic U-turn to fight inflation (CNBC)

• The median age in the United States reached a record high of 38.9 in 2022, according to data released Thursday by the Census Bureau. (NYT)

• Mark Zuckerberg agrees to cage fight with Elon Musk: 'Send Me Location' (FOX)

• San Francisco Mayor Floats Razing Mall in Crisis-Ridden Downtown (BBN)

• Missing Titanic Submersible:

  ‘Catastrophic Implosion’ Likely Killed 5 Aboard Submersible (NYT)

Mergers & Acquisitions

• Fortress Investment Group Set to Acquire Vice Out of Bankruptcy (NYT)

• Intelsat ends merger talks with rival satellite communications giant SES (CNBC)

• Ontario Fund Is Near Deal to Invest in Toronto’s NBA, NHL Teams (BBN)

• Bain Capital Buys 20 Percent Stake in IMS (MA)

• Vivendi to fight Telecom Italia’s plan to sell landline network to KKR (FT)

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