Read Sunday ☕️

Last Week’s Headlines

Economy & World News

• India’s economy beats expectations with 7.4% growth in Q1.
  India delivered its strongest quarterly growth of FY2025, boosting odds of a U.S.-India trade deal.

• U.S. inflation cools to 2.1% in April, easing rate pressure.
  The Fed’s preferred gauge came in lower than expected, signaling potential room for future rate cuts.

• Germany overtakes Japan as world’s top creditor.
  Germany ended Japan’s 34-year run at the top with record overseas assets driven by trade surplus.

• Trump’s global tariffs blocked by trade court.
  A federal court struck down key Trump tariffs, marking a major setback for his economic agenda.

• Trump’s Section 899 tax clause spooks foreign investors.
  A hidden provision in Trump’s new bill could raise taxes on foreign income, potentially scaring off global capital.

• U.S. Supreme Court Approves Revocation of Temporary Protected Status for Certain Migrants
  The Supreme Court has upheld the Trump administration's decision to revoke Temporary Protected Status for migrants from Venezuela, Cuba, Haiti, and Nicaragua, impacting thousands of individuals residing in the U.S.

• Elon Musk Steps Down from White House Advisory Role
  Elon Musk resigned from his advisory position in the Trump administration after overseeing significant federal spending cuts, citing a desire to focus on his business ventures.

Public Markets

• Nvidia crushes earnings as AI data center sales soar 73%.
  Nvidia beat Wall Street expectations with 69% revenue growth and massive demand in its AI-focused data center segment. Shares popped 4% in extended trading.

• Apple to overhaul iOS branding in major update.
  Apple will shift to naming its operating systems by year, starting with iOS 26, as part of a wider software strategy reset. This marks a major branding change for all Apple devices.

• Consultants are replacing legacy companies as CEO factories.
  Accenture and other consulting firms are overtaking GE, P&G, and IBM as the new breeding grounds for corporate leadership. A 20-year trend has shifted where top CEOs are developed.

• U.S. stock indexes end May with strongest gains since 2023.
  Despite trade jitters, the Nasdaq and S&P 500 posted their best monthly performance since November 2023. Markets appear resilient even amid policy uncertainty.

Real Estate & Private Equity

• TaylorMade is reportedly up for sale at $3.5 billion.
  The premium golf brand is exploring a potential $3.5 billion sale. Interest is expected from both private equity and global sports conglomerates.

• RedBird inks $675M+ deal for UK’s Telegraph.
  RedBird is acquiring the UK’s Telegraph newspaper for around $676 million, aiming to expand its digital presence and U.S. footprint. The deal could resolve long-standing ownership uncertainty.

• Brazil Attracts Data Centers with Abundant Renewable Energy
  Brazil's rich renewable energy resources are drawing major data center investments, positioning the country as a new frontier for tech infrastructure.

M&A, IPO’s, Bankruptcies

• Salesforce makes an $8B AI push with Informatica deal.
  Salesforce is acquiring Informatica for about $8 billion to enhance its data management and AI capabilities. Informatica stock surged over 17%, while Salesforce shares dropped nearly 4%.

• e.l.f. acquires Hailey Bieber’s Rhode for $1 billion.
  e.l.f. Beauty will buy Rhode in a deal with $800 million upfront and a $200 million earnout. Bieber stays on to lead creative and product innovation.

• Honeywell adds Elliott executive to board ahead of its breakup.
  Honeywell will appoint Marc Steinberg from Elliott Management as it prepares to split into three separate companies. Elliott holds a $5B+ stake and is increasing its influence through this board addition.

• Microsoft’s Russian unit to file for bankruptcy.
  A Microsoft subsidiary in Russia is preparing to declare bankruptcy amid ongoing business shutdowns in the region. The move reflects continued fallout from geopolitical tensions.

• Ex-Goldman Sachs banker gets two years for role in 1MDB scandal.
  Tim Leissner was sentenced to two years after cooperating with authorities in the multibillion-dollar 1MDB corruption case. The scandal severely damaged Goldman Sachs’ reputation globally.