Welcome to a new edition of the Read Sunday’s newsletter, where we spotlight this past week’s key headlines and futures events. This report provides a user-friendly format for your weekly dose of updates and insights from the realms of business and finance.

Markets

This Week’s Headlines

Public Markets

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

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

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

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

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

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

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

• 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)

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

Economy

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

• Ford preparing for new round of layoffs for US salaried workers, Wall Street Journal reports (RT)

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

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

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

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

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

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

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

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

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

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

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

Mergers & Acquisitions/Investments

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

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

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

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

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

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

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

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

This Weeks Upcoming Events

Earnings Call

Thanks for reading! Next week we plan on doing things differently. You will only receive one newsletter on Sunday Morning. We will be adding short informative summaries to the top stories that week as well as featuring the latest headlines. ReadSunday.com will feature more personally written articles and further dive into more businesses.

This newsletter is the brainchild of Read Sunday and William Lemanske, who you can also find on Twitter at @ReadSunday