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Welcome to Read Sunday, your essential source for a concise and impactful weekly Business & Finance recap. Dive into the pivotal market highlights from the week, distilled for your convenience, and stay tuned for the thought-provoking editor's piece that rounds off your Sunday with insightful perspectives.

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Market Recap

Last Week’s Headlines

Economy & World News

• Elizabeth Holmes Loses Appeal, Faces Limited Legal Options
  Elizabeth Holmes failed to overturn her fraud conviction, leaving her with slim chances of success through a Supreme Court petition or a rehearing en banc, as she serves her 11-year sentence in Texas.

• Trump Proposes $5M ‘Gold Card’ for Wealthy Foreigners and U.S. Firms
  Donald Trump is promoting a $5 million “gold card” initiative, similar to golden visa programs, allowing U.S. companies to retain top Ivy League graduates without Congressional approval.

• U.S. Ends Aid Program for Ukraine’s Energy Grid
  The State Department has terminated a USAID initiative that invested hundreds of millions in restoring Ukraine’s energy grid, despite ongoing Russian attacks causing power outages.

• Jobless Claims Rise to 242K, Beating Estimates
  Weekly jobless claims climbed to 242,000, surpassing the 225,000 estimate, while Washington, D.C. saw a 26% spike. Meanwhile, durable goods orders unexpectedly rose 3.1% in January.

• Saudi Wealth Fund Bans PwC from Consulting Until 2026
  Saudi Arabia’s Public Investment Fund ($925 billion) has temporarily barred PwC from advisory and consulting contracts until February 2026, though its auditing work remains unaffected.

• Fed’s Preferred Inflation Gauge Rises 2.5% Annually
  The PCE price index increased 0.3% in January, reaching a 2.5% annual rate, while core PCE stood at 2.6%. Personal income surged 0.9%, but consumer spending unexpectedly fell 0.2%.

• Mexico Proposes Matching U.S. Tariffs on China, Urges Canada to Join
  U.S. Treasury Secretary Scott Bessent said Mexico is willing to match U.S. tariffs on China, encouraging Canada to do the same to create a “Fortress North America” against Chinese imports.

• Zelenskyy Leaves White House After Peace Talks Collapse
  Ukrainian President Volodymyr Zelenskyy departed the White House without comment after Oval Office talks with Donald Trump broke down over a clash on peace negotiations.

• Andrew Cuomo Enters NYC Mayoral Race, Challenging Eric Adams
  Former NY Governor Andrew Cuomo officially launched his campaign for New York City mayor, criticizing city leadership on crime and affordability while touting his pandemic record. Early polls show him leading a crowded Democratic primary field.

Public Markets

• Apple to Invest Over $500 Billion in U.S. Expansion
  Apple plans to spend $500 billion over the next four years, expanding teams and facilities across Michigan, Texas, California, and other states, including a new Texas factory, a manufacturing academy, and increased investments in AI and silicon engineering.

• BP Shifts Focus Back to Fossil Fuels Amid Investor Pressure
  Under pressure from Elliott Investment Management, BP will scrap its ambitious renewable energy target and refocus on fossil fuels to address concerns over underperforming shares and boost returns.

• FDA Ends Semaglutide Shortage, Cracks Down on Compounders
  With the Ozempic and Wegovy shortage resolved, the FDA will take action against compounders within 90 days, causing Hims & Hers Health shares to drop 26%.

  • Eli Lilly Cuts Zepbound Prices to Compete with Copycats
    Eli Lilly is lowering prices on Zepbound vials to $349 and $499 per month to counter cheaper, compounded versions from telehealth providers like Hims & Hers Health, as uninsured patients turn to self-administered alternatives.

• Bitcoin Drops Below $90K to 3-Month Low
  Bitcoin has fallen to a three-month low, dipping under $90,000, as market volatility continues to weigh on cryptocurrency prices.

• GM Boosts Dividend, Announces $6B Stock Buyback
  General Motors raised its quarterly dividend by 25% to match Ford’s and unveiled a $6 billion stock repurchase program, with $2 billion set for completion in Q2 2025.

• Microsoft to Retire Skype in May After 21 Years
  Microsoft will shut down Skype in May, shifting users to Teams, as the once-popular calling and messaging service faded with the rise of smartphones.

• Apple Pledges $500 Billion U.S. Investment, Trump Takes Credit
  Apple announced a $500 billion U.S. investment, including AI server production and 20,000 new jobs, though the plan largely aligns with its past commitments—despite Donald Trump claiming it as a win for his policies.

Real Estate

•  Apple to Launch Manufacturing Academy in Detroit
  Tech giant Apple plans to open an Apple Manufacturing Academy downtown this year, helping businesses adopt AI and smart manufacturing with support from Apple engineers and university experts.

M&A, IPO’s, Bankruptcies

• Prosus to Acquire Just Eat Takeaway for €4.1 Billion
  Dutch tech investor Prosus is set to acquire Just Eat Takeaway.com in a €4.1 billion ($4.3 billion) deal, offering a 63% premium on its stock after years of struggles post-Covid-19 pandemic.

• Ethena Raises $100 Million for Institutional Crypto Expansion
  Crypto project Ethena secured $100 million in December from investors like Franklin Templeton and F-Prime Capital to launch a new token for traditional finance. Its USDe “synthetic dollar” has surged to $6 billion in circulation, offering yields as high as 9%.

• Thermo Fisher to Acquire Solventum’s Filtration Business for $4.1B
  Thermo Fisher is purchasing Solventum’s purification and filtration unit for $4.1 billion in cash, aligning with Solventum’s strategy to exit non-core businesses. The unit generated $1 billion in revenue last year and specializes in water filtration.

• Roark Capital Nears $1B Deal for Dave’s Hot Chicken
  Roark Capital is in advanced talks to acquire Dave’s Hot Chicken for $1 billion, as the fast-growing franchise, backed by Drake, expands its Nashville-style chicken empire across 270 locations.

• Blackstone Acquires Safe Harbor Marinas for $5.56B
  Blackstone is buying Safe Harbor Marinas in a $5.56 billion all-cash deal, betting on luxury tourism’s resilience as it expands its portfolio of marine investments across 138 U.S. and Puerto Rico marinas.

• Ben & Jerry’s Founders Explore Buying Back Brand from Unilever
  Ben Cohen and Jerry Greenfield have held talks about repurchasing Ben & Jerry’s from Unilever, potentially partnering with socially minded investors to finance the multi-billion-dollar deal.

• Seven & i Founding Family Fails to Secure Buyout Financing
  The founding family’s attempt to acquire Seven & i fell through due to financing issues, while Itochu opted out. The company is now considering Alimentation Couche-Tard’s proposal to unlock shareholder value.

• MrBeast Seeks Funding at $5 Billion Valuation
  YouTube star MrBeast is looking to raise hundreds of millions to expand his business, engaging with financial firms and wealthy investors in early-stage talks for a $5 billion valuation.

• AI Startup DeepSeek Claims 545% Theoretical Profit Margin
  Chinese AI firm DeepSeek reported a 545% profit margin on V3 and R1 models over a 24-hour period, though actual revenues remain lower due to limited monetization and discounts, highlighting ongoing investor scrutiny of AI startup profitability.

Earnings this week

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