Read Sunday ☕️

Last Week’s Headlines

Economy & World News

• U.S. inflation cools with just 0.1% increase in May
  The CPI rose just 0.1% month-over-month, bringing annual inflation to 2.4%, under expectations. Lower energy prices helped offset broader increases tied to tariffs.

• RFK Jr. removes entire CDC vaccine panel
  Health Secretary Robert F. Kennedy Jr. has dismissed all 17 members of the CDC’s vaccine advisory panel. The controversial move aligns with Kennedy’s longstanding skepticism of mainstream vaccination practices.

• Hong Kong funds prepare to dump Treasuries if U.S. loses AAA rating
  Hong Kong pension managers plan to cut U.S. Treasury exposure if another downgrade occurs. The contingency follows Moody’s recent move and local fund restrictions.

• U.S. and China reach rare-earth trade deal, now await Trump and Xi sign-off
  Officials reached consensus in London on restarting rare-earth and tech trade. The deal awaits final approval from both presidents following a prior 90-day tariff pause.

• U.S. Helps Israel Intercept Iranian Missiles
  American forces are supporting Israel in intercepting retaliatory missile strikes from Iran. Over 200 targets have reportedly been hit by Israeli airstrikes.

  • Israel Strikes Iran’s Giant Gas Field Amid Crisis
    Israel targeted Iran’s South Pars gas field, escalating Middle East energy tensions. The strike caused a fire and forced a plant shutdown, adding pressure to global energy markets.

• Port of Los Angeles Imports Plunge 19%
  Imports at the Port of L.A. fell 19% in May due to slower seasonal activity and Trump’s tariffs. Businesses are facing rising costs and uncertainty around trade policy.

• Japan’s Inflation Surges Past Expectations
  Japan's core inflation hit 3.5%, exceeding Bank of Japan forecasts. Despite the rise, the central bank held rates steady and cut its economic outlook.

Public Markets

• Bitcoin bull Metaplanet jumps after $5.4B raise announcement
  Metaplanet’s plan to raise $5.4 billion to expand its Bitcoin holdings led to a 26% surge in shares. The company already holds nearly $1B in Bitcoin and aims to further capitalize on crypto momentum.

• Warner Bros. Discovery to split into two public companies
  WBD plans to separate into a streaming/studios entity and a global networks company by next year. CEO David Zaslav will lead the streaming unit, while CFO Gunnar Wiedenfels will helm the networks division.

• Zuckerberg forms elite AI task force to chase ‘superintelligence’
  Mark Zuckerberg is assembling a high-level team of AI experts to build artificial general intelligence. He's personally recruiting researchers at his homes in Tahoe and Palo Alto.

• GM to pour $4B into U.S. plants amid tariff pressure on Mexico
  General Motors is shifting production of key Chevrolet models to the U.S. due to new tariffs on Mexican imports. The move is expected to align with Trump-era policy goals.

• Bank of America eyes stablecoins after crypto legislation
  CEO Brian Moynihan said BofA may enter the stablecoin market once regulation is clarified. The comment signals rising interest in digital assets among major U.S. banks.

• Micron commits $200B to U.S. expansion amid Trump policy push
  The chipmaker will invest $200 billion in the U.S., including $150 billion for manufacturing. The decision supports Trump's onshoring strategy for advanced technology.

• Apple sets Spring 2026 launch for Siri AI overhaul
  Apple aims to release its upgraded AI-powered Siri in early 2026. The update marks a major part of its comeback strategy in voice and assistant technology.

• Oil Prices Jump After Israeli Strikes on Iran
  Crude surged over 10% as Israel launched unilateral airstrikes on Iran, sparking fears of regional escalation. Tanker stocks also rose on concerns over global oil supply disruptions.

• Amazon Overhauls Healthcare Division
  Amazon is restructuring its healthcare business into six pillars to streamline operations. The move follows executive departures and lingering struggles to gain traction post-acquisitions.

• Oracle Stock Sees Best Week Since 2001
  Oracle shares soared 24% this week after strong cloud performance and bullish guidance. It now leads megacap tech peers year-to-date.

Real Estate & Private Equity

•  Ken Moelis to step down as CEO of his namesake firm
  Wall Street veteran Ken Moelis will retire from his role at Moelis & Co., aiming for what he calls the “smoothest transition” in the industry’s history. Moelis founded the investment bank in 2007 after a storied career starting at Drexel Burnham.

• Blackstone eyes $500B European investment amid global shifts
  CEO Steve Schwarzman announced plans to invest up to $500B in Europe over the next decade. The firm sees the continent as a major opportunity due to shifting geopolitical strategies.

M&A, IPO’s, Bankruptcies

•  Qualcomm boosts AI muscle with $2.4B Alphawave acquisition
  The chipmaker is expanding its AI portfolio by acquiring Alphawave. The deal aims to enhance Qualcomm’s positioning in data center connectivity and next-gen chip development.

• Meta invests $14B in Scale AI, hires its founder amid AI arms race
  Frustrated by Meta’s lag in AI, Zuckerberg is betting big on Scale AI and bringing in its founder Alexandr Wang. The move reflects Meta’s urgency to catch up to rivals like OpenAI.

• UniCredit says Commerzbank is too pricey for acquisition—at least for now
  UniCredit has built a 28% stake in Commerzbank but won’t pursue a takeover due to valuation concerns. Regulatory approval allows the stake to go up to 29.9%.

• Arax Investment Partners acquires $4B RIA Schechter Advisors
  Arax, a private equity–backed firm, has acquired Schechter Investment Advisors. The deal adds a multigenerational wealth planning firm to Arax’s growing platform.

• Shutterstock stockholders approve merger with Getty Images
  Shutterstock has secured shareholder approval for a merger with Getty Images. The deal combines two major creative content platforms to form a digital media powerhouse.

• Bojangles explores $1.5B sale amid fried chicken boom
  The Southern fast-food chain is considering a sale that could triple its 2019 valuation. Bojangles has hired bankers to capitalize on high sector demand.

• Chime shares soar 37% in Nasdaq debut
  Following its IPO, Chime surged 37% on the first day of trading. The digital bank raised $700 million and became one of the most anticipated fintech listings of the year.

• Brookfield Acquires Hotwire Amid Fiber Boom
  Brookfield struck a deal to buy internet provider Hotwire as fiber infrastructure M&A heats up. The move capitalizes on rising demand for high-speed connectivity.

• Anduril Raises $2.5B, Hits $30.5B Valuation
  Defense tech startup Anduril doubled its valuation in under 18 months. The historic round was led by Founders Fund with a record $1B single check.

• Trump Approves U.S. Steel–Nippon Merger
  President Trump approved the U.S. Steel merger with Japan's Nippon after a national security agreement was signed. The executive order clears a path for the deal to proceed.

• Nuclear Startup Oklo Sets IPO at $60 to Raise $400M
  Oklo, a pre-revenue nuclear tech firm, is going public to fund its compact fast reactor development. Backed by Goldman Sachs and BofA, the deal includes an option to upsize.

• Databricks Revenue Jumps 50% to $3.7B Run Rate
  Databricks’ enterprise AI boom has pushed its projected annual revenue to $3.7 billion. The company outpaces Snowflake, with dozens of clients spending $1M+ annually.

• BioNTech Acquires CureVac for $1.25B
  BioNTech is buying fellow German mRNA firm CureVac in an all-stock deal to expand its oncology pipeline. The acquisition boosts BioNTech’s R&D in mRNA manufacturing and delivery.