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☆ AMC can build Dreamhouse on Barbenheimer buzz
▼ + stars: | 2023-07-24 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +3 min

AMC Entertainment (AMC.N), the struggling movie theater chain wrestling with a meme-stock hangover, saw its busiest day since 2019 this past Saturday. The company needs cash to survive, and this weekend might add enough fantasy to help it. AMC has refiled to try again, and in some ways, Barbenheimer helps. The biggest risk to the movie theater business was that it would never return to pre-pandemic levels. AMC Entertainment, one of the U.S.’s largest theater chains, recorded over 7 million moviegoers in attendance over that weekend.

Persons: Barbie, “ Oppenheimer ”, Adam Aron, Aron, –, “ Barbie ”, “ Oppenheimer, ”, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Warner Bros, Comcast, Universal Pictures, AMC Entertainment, Monday, AMC, Malibu, Thomson Locations: Barbenheimer, Delaware

☆ Tesla’s new burden: shouldering the market
▼ + stars: | 2023-07-20 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

Back then, Tesla had three-quarters of the U.S. electric vehicle market, according to Cox Automotive. Its U.S. growth flatlined in 2022, Cox reckons, as the overall quarterly growth rate of electric sales downshifted. It needs the entire electric-vehicle market to grow beyond its current 7% share of the U.S. market, to bring in new buyers. Cox found 51% of consumers are now at least interested in an electric car. But Tesla’s operating margin has fallen to under 10%.Gross profit per car delivered is also down, 44% year-over-year, despite costs also declining.

Persons: Elon, Tesla, Cox, Biden, can’t, Musk, Gross, Elon Musk, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, General Motors, U.S, Cox Automotive, Ford, Thomson Locations: U.S, United

☆ Netflix’s cash gun starts to whir
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, July 19 (Reuters Breakingviews) - Netflix (NFLX.O) is putting out some programming worthy of more eyeballs. But its forecast on free cash flow – once a horror flick– shows that the business is only getting stronger. The revenue outlook for the third quarter of $8.5 billion is below analysts’ estimates of $8.7 billion, according to Refinitiv. Netflix raised its outlook for free cash flow this year to at least $5 billion from approximately $3.5 billion. At a time when high interest rates make greenbacks more expensive, and competitors Walt Disney (DIS.N) and Warner Bros Discovery (WBD.O) are squirming, Netflix’s cash story is one to watch.

Persons: Reed Hastings, Walt Disney, Jennifer Saba, Gucci, Xavier Niel’s, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Netflix, Hollywood, Warner Bros Discovery, Twitter, Xavier Niel’s GAM, Commonwealth Games, Thomson

☆ Post-it maker 3M is in danger of coming unstuck
▼ + stars: | 2023-07-19 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +10 min

There will be up to $1.5 billion of costs related to separating the health care business, 3M has said. Its interest cover, after backing out estimated operating income from health care, would fall to about 4 times from 11 times. And its net debt, using all these assumptions and excluding the health care division, would swell to nearly 5 times EBITDA from less than 2 times. Back out $2.5 billion from health care, as estimated by the Morgan Stanley team, and $1.5 billion of capital expenditure costs noted by Wolfe Research. For example, the water settlement, as drafted, only envisions $4.6 billion of outlays through 2025, and the rest over the ensuing 11 years.

Persons: Mike Roman, Roman, Sackler, Johnson, Aearo, ”, Morgan Stanley, Smith, Nephew, Lauren Silva Laughlin, Streisand Neto Organizations: YORK, Reuters, U.S . Environmental, Purdue Pharma’s, Association of Metropolitan Water Agencies, Bayer, Monsanto, Aearo Technologies, Partners, Honeywell International, Siemens, 3M, Refinitiv, Reuters Graphics, Wolfe Research, Thomson Locations: . Oregon, Republic, Corning

☆ BlackRock’s Aramco embrace makes sense in a vacuum
▼ + stars: | 2023-07-18 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

The $109 billion asset manager run by Larry Fink said on Monday it would add Saudi Aramco (2222.SE) Chief Executive Amin Nasser to its 16-strong board. But judged through an investment lens the appointment makes sense. Nasser, who led Aramco through its 2019 initial public offering, will take the seat currently occupied by Bader Alsaad, a former managing director of the Kuwait Investment Authority. Follow @thereallsl on TwitterCONTEXT NEWSBlackRock on July 17 said Amin Nasser, chief executive of Saudi Aramco, would join its board as an independent director. “Amin’s distinguished career at Aramco, spanning more than four decades, gives him a unique perspective on many of the key issues facing our firm and our clients,” BlackRock Chief Executive Larry Fink said in a statement.

Persons: Larry Fink, Amin Nasser, Nasser, Bader Alsaad, Jamal Khashoggi, Randall Stephenson, Fink, Richard Blumenthal, T Rowe Price, Fink –, “ Amin’s, Peter Thal Larsen, Sharon Lam Organizations: YORK, Reuters, BlackRock, Aramco, Kuwait Investment Authority, of, Petroleum, Saudi, Golfers ’ Association, Global Energy, Exxon Mobil, Chevron, Shell, Thomson Locations: BlackRock, Saudi Aramco, Kuwait, Saudi Arabia, United States, U.S, Texas, Connecticut, Aramco

☆ Saudi golf shot plays through CFIUS hazards
▼ + stars: | 2023-07-14 | by ( Jennifer Saba | ) www.reuters.com time to read: +8 min

U.S. congressional lawmakers scrutinized PGA Tour officials on Tuesday this week about the group’s tie-up with a rival golf tournament owned by Saudi Arabia. Enter the Saudis, who launched an upstart golf tournament last year, LIV Golf, that competed with the U.S.-based PGA Tour and its European counterpart DTP. There are worries that Saudi Arabia, a regime viewed as hostile to women and LGBTQ groups, would have significant sway over golf’s culture. LIV Golf is owned by Saudi Arabia Public Investment Fund. Former AT&T Chief Executive Randall Stephenson resigned from the PGA Tour policy board, the Washington Post reported on July 9.

Persons: State Condoleezza Rice, Darla Moore, Covid, LIV Golf, Phil Mickelson, Brooks Koepka, Yasir Al, Ed Herlihy, Wachtell, Lipton, Katz, hasn’t, Randall Stephenson, Jamal Khashoggi, ”, Richard Blumenthal, –, Sherrod Brown, Maxine Waters, Janet Yellen, LIV Golf’s, Joe Biden hasn't, Saudi Arabian Crown Prince Mohammed bin Salman, Khashoggi, Uncle Sam, Refinitiv, China’s ByteDance, LIV, Stephenson, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Public Investment Fund, Augusta National Golf Club, State, U.S, PGA, LIV, Rosen, Breakingviews, Former AT, PGA Tour, Saudi, Department of Justice, Foreign Investment, U.S . Treasury, Saudi Arabian Crown, Walmart, Visa, Uber Technologies, Nation Entertainment, National Basketball League, Houston Rockets, People’s, NBA, backtrack, FIFA, Qatar, The Justice Department, Treasury, Committee, Homeland Security, Governmental Affairs, Saudi Arabia Public Investment Fund, T, Washington Post, Thomson Locations: Saudi Arabia, United States, American, U.S, South Carolina, Iran, China, Saudi, Hong Kong, People’s Republic, Beijing

☆ Seed funding valuations sprout a bubble
▼ + stars: | 2023-07-13 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +3 min

Their need for new cash was nearly three times higher than the available supply last quarter, according to the report. Companies raising seed rounds in today’s market might command higher prices in part because they are better prepared. But it’s unlikely that today’s cohort of seed-stage startups is so markedly superior to predecessors that it warrants record high prices. A newfound focus on seed companies could just be VCs’ latest justification for keeping the tech bubble afloat. Median valuations for venture rounds in startups at all other stages captured by the report have fallen this year relative to their 2022 levels.

Persons: PitchBook, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Venture, National Venture Capital Association, Carta, Tiger Global, Thomson

☆ Domino’s Uber delivery is an extra topping
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, July 12 (Reuters Breakingviews) - Domino’s Pizza (DPZ.N) wants to stuff more pie holes. The pizza chain announced on Wednesday that customers will be able to make delivery orders through Uber Eats, sending Domino’s shares up 10% in late morning trade. At first blush that may seem an admission that Domino’s own delivery app is sputtering. The agreement with Uber Technologies (UBER.N) is exclusive in the United States at least until 2024, and it extends Domino’s reach internationally as well. By partnering with Uber, Domino’s has a better chance of getting a bigger slice of the delivery market.

Persons: Uber, Dara Khosrowshahi, that’s, Domino’s, Jennifer Saba, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Uber Technologies, Twitter, Thomson Locations: United States, China

☆ Microsoft-Activision deal not yet game on
▼ + stars: | 2023-07-12 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Britain’s antitrust regulator also indicated it was open to new concessions, but the parties will have to renegotiate their deal and get it approved. Two developments on Tuesday increased the odds of Microsoft getting the deal down the line. That’s a rapid change of tone from May, when the watchdog concluded blocking the Microsoft-Activision deal is the “only effective and proportionate way forward." As a result, Activision’s share price jumped 11% on Tuesday, its narrowest spread to Microsoft’s $95-a-share offer since the deal was announced. The agency's concern was that the deal would potentially preclude the availability of those videogames on other platforms.

Persons: hasn’t, Satya Nadella, it’s, ”, Brad Smith, Bobby Kotick, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Federal Trade Commission, Activision Blizzard, Microsoft, Markets Authority, Activision, FTC, CMA, Financial, Thomson Locations: U.S, San Francisco

☆ Winklevoss twins take strike two with crypto hype
▼ + stars: | 2023-07-11 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +3 min

The Winklevii, as they came to be known after “The Social Network” movie debuted, are suing another former friend – crypto baron Barry Silbert. That indicates some investors still believe in crypto even if they’ve lost faith in its former stars. Much like social media, the Winklevii seem to be on the losing end of the crypto streak, too. Follow @AnitaRamaswamy on TwitterCONTEXT NEWSOn July 7, cryptocurrency exchange Gemini sued Digital Currency Group, the parent company of now-bankrupt crypto lender Genesis, seeking over $1.1 billion. Gemini co-founder Cameron Winklevoss claimed in a July 7 Twitter post that DCG and Silbert were partially responsible for losses affecting thousands of Gemini users.

Persons: Tyler, Cameron Winklevoss, Mark Zuckerberg, Barry Silbert, Silbert, DCG, they’ve, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Facebook, Social Network, Digital Currency Group, Gemini, Wall Street, Fidelity, Twitter, Genesis’s, Thomson Locations: bitcoin, BlackRock, U.S

☆ Meta’s Threads isn’t worth 11 Twitters
▼ + stars: | 2023-07-07 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

On Wednesday, he launched a Twitter competitor, Threads, promptly encouraging Twitter to threaten to sue. Zuckerberg isn’t doing shareholders any favors. It’s less clear if Twitter’s users have moved, but in that sense, Threads may hurt Meta more than it helps. Even if Threads were to put Twitter out of business, that exercise isn’t worth 11 Twitters. Follow @thereallsl on TwitterCONTEXT NEWSTwitter has threatened to sue Meta Platforms over its new Threads app, Reuters reported on July 6.

Persons: Elon Musk, Mark Zuckerberg, Zuckerberg, Musk, Meta, Jennifer Saba, Sharon Lam Organizations: YORK, Reuters, Twitter, Elon, Facebook, Apple, Public, Meta, Semafor, Thomson Locations: Instagram

☆ Supreme Court knocks Fed diversity goal down a peg
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, July 5 (Reuters Breakingviews) - The U.S. Supreme Court just made the Federal Reserve’s job more difficult. The ruling could make future workforces more homogeneous and, in turn, throws a new obstacle in the way of the Fed’s goal for diverse employment. Getting that back to 2% from the current 4% pace remains the central bank’s “top priority,” Powell said last month. While white unemployment hit 3.3% in May, Black unemployment rebounded to 5.6%, according to the Bureau of Labor Statistics. As Powell moves further away from his goal of inclusivity, the Supreme Court’s decision means closing that gap will probably take even longer.

Persons: Jerome Powell, it’s, ” Powell, Powell, Ben Winck, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, U.S, Supreme, Bureau of Labor Statistics, inclusivity, Twitter, KKR, Thomson Locations: China

CNN —Mass shootings, like the ones that occurred Monday in Philadelphia and Fort Worth, Texas – and over the weekend in Baltimore — are not uncommon around the Fourth of July. The holiday has accounted for the most mass shootings of any other days of the year in nearly a decade, according to a CNN analysis of the Gun Violence Archive’s mass shooting data since 2014. So far, there have been at least 10 mass shootings on July 4 and 5, according to GVA. Summer days overall have higher numbers of mass shootings than other times of the year, according to CNN’s analysis. Of the top 10 calendar days with the highest number of mass shootings since 2014, all but one — New Year’s Day — was in June, July or August.

Persons: David Laughlin, WEWS, Angie Willhite, Cassondra Fovel, —, Leslie Parson Organizations: CNN, Mason, Community Center, WEWS, Akron Police Department, Sheriff’s, Twitter, Shreveport Police, WILX, Hayward Police, Metropolitan Police Locations: Philadelphia, Fort Worth , Texas, Baltimore, GVA, Akron , Ohio, Edgewood , Maryland, Harr, Edgewood, Harford, Shreveport , Louisiana, Lansing , Michigan, Hayward , California, Washington

☆ LinkedIn ages like fine wine in Microsoft’s cellar
▼ + stars: | 2023-06-28 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +5 min

NEW YORK, June 28 (Reuters Breakingviews) - Most corporate acquisitions deteriorate over time, but Microsoft’s (MSFT.O) $26 billion deal for LinkedIn keeps getting better. Buying LinkedIn was a bold step for Satya Nadella, who became the software goliath’s third chief executive in early 2014. Paying a 50% premium for LinkedIn and its 430 million users made it one of the technology industry’s largest deals ever and by far Microsoft’s biggest. The war over the “Call of Duty” maker is just one of many things happening at Microsoft that’s overshadowing LinkedIn. Those market dynamics have buoyed LinkedIn, which was only generating $3 billion in revenue when Microsoft bought it.

Persons: Satya Nadella, Steve Ballmer, There’s, Mark Zuckerberg, Tesla, Elon Musk, faddish, Microsoft’s, It’s, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, LinkedIn, Nokia, aQuantive, Activision, Microsoft, Facebook, Twitter, Sprout Social, Bing, Thomson

☆ Corporate boycotts clash with political reality
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 15 (Reuters Breakingviews) - Republicans are firing from the hip when it comes to corporate boycotts. Conservative Americans’ changing beer habits may have contributed to Bud Light being pulled from its spot as the number one beer in the United States for the first time in more than two decades. In May, Bud Light sales dropped a quarter compared to the same month last year, consulting companies Bump Williams and NielsenIQ said Wednesday. As conservatives encourage consumption based on political views, they may in some cases pull cash from their own pockets. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bud Light, Marjorie Taylor Greene, Ted Cruz, Marsha Blackburn of, Busch, influencer Dylan Mulvaney, Bud, Bump Williams, NielsenIQ, Ben Winck, Lauren Silva Laughlin, Streisand Neto Organizations: Reuters, Conservative, Republican, Anheuser, Bud Light, Democratic, Constellation Brands, Target, Twitter, Thomson Locations: United States, Marjorie Taylor Greene of Georgia, Ted Cruz of Texas, Marsha Blackburn of Tennessee

☆ What Wheel of Fortune can do, Wall Street can, too
▼ + stars: | 2023-06-14 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, June 13 (Reuters Breakingviews) - “Wheel of Fortune” is finally going to get a new host. The charade that unfolds nightly on traditional American television has similarities to Wall Street. And earlier this year Sajak’s daughter replaced White as the letter-turner for one game where White became a contestant. And while “Wheel of Fortune” fans and behind-the-scenes crew may feel as if the wheels won’t turn in quite the same way without their leading man around, it’s likely that Sajak – and his Wall Street counterparts – can step aside knowing the game will still go on. Follow @thereallsl on TwitterCONTEXT NEWSPat Sajak, host of gameshow "Wheel of Fortune," plans to retire at the end of his upcoming record 41st year, he said on June 12.

Persons: ”, Pat Sajak, He’s, Sajak, Vanna White, Jamie Dimon, Larry Fink, White, –, I've, It's, John Foley, Streisand Neto Organizations: YORK, Reuters, Entertainment, Twitter, Thomson Locations: U.S, gameshow’s

☆ Apple could overcome VR’s nerd and creepy factors
▼ + stars: | 2023-06-06 | by ( Robert Cyran | ) www.reuters.com time to read: +2 min

NEW YORK, June 6 (Reuters Breakingviews) - To be successful at launching a new technological device, a company must overcome both nerd and creepy factors. Meta Platforms (META.O), after buying headset company Oculus in 2014, uses its products to push Mark Zuckerberg's pet project, the Metaverse. And people may still be uncomfortable about switching between the real world and the virtual one. But as far as finding a device that is both aesthetic and copacetic, Apple's real world experience suggests it has a better chance at success than others. Follow @rob_cyran on TwitterCONTEXT NEWSApple revealed Vision Pro, the company’s virtual and augmented reality headset on June 5.

Persons: Tim Cook, Mark, Cook, Tim Cook’s, Lauren Silva Laughlin, Katrina Hamlin Organizations: YORK, Reuters, Apple, Google, Meta, Thomson

NEW YORK, June 6 (Reuters Breakingviews) - Sequoia is blazing another new trail in venture capital. As one of Silicon Valley’s pioneers, Sequoia Capital has backed everything from Apple (AAPL.O) to Zoom Video Communications (ZM.O) over the past half-century, and many others in between, including Instagram, 23andMe (ME.O) and DoorDash (DASH.N). The world has changed, however – and changed yet again – since Sequoia opened its doors. Valentine named Sequoia after a tree that lives thousands of years, signifying a plan to survive and grow through any sort of climate. Follow @thereallsl on TwitterFollow @anshumandaga on TwitterCONTEXT NEWSVenture capital firm Sequoia Capital said on June 6 that it would separate its China, India and Southeast Asia, and U.S. and European arms into three businesses.

Persons: Don Valentine, – Roelof Botha, Neil Shen, Shailendra Singh –, Valentine, Sequoia, ByteDance, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Sequoia Capital, Apple, Video Communications, Investments, HK, Sequoia, Venture, Thomson Locations: China, India, U.S, Sequoia, Southeast Asia, United States, Mumbai, Shanghai

☆ Pampered pets unleash booming market: podcast
▼ + stars: | 2023-06-06 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: 1 min

NEW YORK, June 6 (Reuters Breakingviews) - The pet craze brought on by the pandemic has become a boon for companies that sell products to dog-loving owners. FidoCure founder Christina Lopes explains to The Exchange podcast how this might be able to help humans, too. Listen to the podcastFollow @thereallsl on TwitterSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Katrina HamlinOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Christina Lopes, Katrina Hamlin Organizations: YORK, Reuters, Exchange, Twitter, Thomson

☆ Binance charges are a last gasp for crypto
▼ + stars: | 2023-06-05 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

NEW YORK, June 5 (Reuters Breakingviews) - Binance founder Changpeng Zhao doesn’t have much to look forward to. The SEC alleges that Binance knowingly helped U.S. customers trade illegally on its exchange. Binance, in a blog post, trotted out a familiar crypto defense: The SEC, which has been vague on how cryptocurrency should be regulated, is beyond its reach. In March, the U.S. Commodity Futures Trading Commission filed similar charges against the company. Follow @AnitaRamaswamy on TwitterCONTEXT NEWSThe U.S. Securities and Exchange Commission is suing Binance, the world’s largest cryptocurrency exchange by volume.

Persons: Changpeng Zhao doesn’t, Zhao, –, Sam Bankman, Fried, Binance, Gary Gensler, FTX, Changpeng Zhao, Richard Teng, Coindesk, Teng, Zhao “, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, U.S . Securities, Exchange Commission, SEC, U.S . Commodity Futures Trading Commission, U.S . Federal Trade Commission, U.S . Commodities Futures, Commission, Thomson Locations: United States, U.S

☆ Economic policies sacrifice poor Americans
▼ + stars: | 2023-06-02 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, June 2 (Reuters Breakingviews) - Dollar General (DG.N), the ultra-low-cost retailer with 19,000 stores reaching 75% of the U.S. population, has never been a comfortable reflection of the American consumer. That underscores troubling consequences of current U.S. economic policy: the poor are being sacrificed. Over the past two decades, dollar stores have upended how the cross section of the United States shops. In smaller towns, Dollar General and competitors including Dollar Tree (DLTR.O) offer cheap and accessible groceries. Reuters GraphicsIn the past week, U.S. Congress has continued to roll back policies that would help Americans with less to go around.

Persons: Jeffery Owen, Lululemon, Nordstrom, Ralph Lauren’s, Joe Biden’s, Lululemon Athletica’s, Erik Nordstrom, Jennifer Saba, Sharon Lam Organizations: YORK, Reuters, Dollar, Walmart, Shoppers, Reuters Graphics, Congress, Thomson Locations: United States

☆ Debt deal sacrifices $140 bln return on investment
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

The budget deal agreed to by President Joe Biden and top congressional Republican Kevin McCarthy would move $20 billion away from the Internal Revenue Service over the next two years. The change shores up cash for other agencies, but projections suggest the IRS funding would’ve made a significant step toward closing the government’s $925 billion budget gap. Biden approved $80 billion of new cash for the IRS in 2021, arguing the funding would strengthen enforcement and increase revenue collected by Uncle Sam. The CBO estimated in 2021 that for every $1 increase to IRS funding the government would recoup $6.40 to $7.10. The $20 billion being diverted from the agency could therefore raise as much as $142 billion through 2031.

Persons: Joe Biden, Kevin McCarthy, would’ve, Biden, Uncle Sam, Ben Winck, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, U.S, Internal Revenue Service, Office, CBO, IRS, White, Twitter, Toyota, Lufthansa, Thomson Locations: Saudi, East, Italy

NEW YORK, May 30 (Reuters Breakingviews) - Nvidia (NVDA.O) has made a boisterous entry to the $1 trillion club, but it might not remain there for long. While Nvidia has been around for ages – it was founded in 1993, making it older than Amazon and Alphabet – its valuation growth of late has been prodigious. Its trip from $500 billion to $1 trillion has taken about 500 days, which is about one-third what it took Apple. Unlike Apple or Google-owner Alphabet, the brand has little consumer cachet to fall back upon. Alphabet, Amazon.com, Apple, and Microsoft are the four other United States-based companies worth over $1 trillion, according to Refinitiv data.

Persons: Jensen Huang, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Nvidia, Tuesday, Apple, Microsoft, Amazon, Twitter, Thomson Locations: States

☆ Breakingviews: Biden gives little, gets less in debt ceiling deal
▼ + stars: | 2023-05-28 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

WASHINGTON, May 28 (Reuters Breakingviews) - For President Joe Biden, a debt-ceiling victory comes with a bittersweet taste. The White House and top congressional Republican Kevin McCarthy reached a tentative deal for lifting the government’s borrowing limit on Saturday night. After months of negotiation, Biden and McCarthy reached an agreement just nine days before U.S. Treasury Secretary Janet Yellen said the country was expected to run out of cash. The deal lifts the debt ceiling about $4 trillion from its current level of $31.4 trillion, extending the government’s borrowing power for two more years. Follow @BenWinck on TwitterCONTEXT NEWSThe Biden administration and top congressional Republican Kevin McCarthy reached an agreement in principle on May 27 for raising the U.S. government’s debt ceiling.

☆ Economic stability hangs on US love of BBQ
▼ + stars: | 2023-05-26 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, May 26 (Reuters Breakingviews) - The threat of U.S. default isn’t the only thing bringing lawmakers to the negotiating table. That unofficial deadline adds urgency, and also makes it likely that a deal will be no better than just good enough. But lawmakers are also ditching Washington ahead of Memorial Day, a U.S. holiday marking the start of warmer months. In the meantime, a banking crisis, inflation crisis, and potential economic crisis are all pushed into the background. Investors will come back from their weekend of burgers and beer and see stability, which means they will be ready to take risks again.

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