good morning and happy junteen weekend. Here’s what you need to know in trading and technical news for the coming week. — Charlotte Cowles
What’s up? (June 13-19)
don’t mess with
Let the trust begin! Leena Khan, who has long criticized the market dominance of Amazon, Facebook, Google and other Silicon Valley giants, is now in charge of regulating them After that Became the youngest chairman of the Federal Trade Commission on Tuesday. The next day, the Justice Department filed its first antitrust lawsuit Ever since President Biden took office. The action is intended to prevent the merger of two of the country’s largest insurance brokers, Aon and Willis Towers Watson, and reasoning that their combination would be “Eliminate substantial face-to-face competition and potentially lead to higher prices and less innovation.”
At the conclusion of his first summit with Russian President Vladimir V. Putin, President Biden announced, “I did what I came to do.” Namely, he asked Mr. Putin to put an end to the cyber attacks. Russian crime organization – and, in some cases, Russian government – attacking US companies and agencies with increasing frequency. (Mr. Putin denied that Russia was behind the attacks, despite very evidence opposite of this.) Mr. Biden drew a line in the sand saying that “infrastructure”restrictedfor the hackers during peacetime, and the pair agreed to discuss the matter further. Progress?
and so is, 17 year old trade dispute Between the United States and the European Union on aircraft subsidies was resolved – At least temporarily. Both sides agreed to suspend threats to impose punitive charges on each other, which the Trump administration Imposed in the past several years. Instead, they will work together to counter China’s growing dominance in key industries. uk early follow in the footsteps of europe With a similar deal with the United States. In other news, the EU Travel ban on US tourists lifted, although each member state reserves the right to decide on its own sanctions.
What will happen next? (June 20-26)
high rate ahoi
At the start of the pandemic, the Federal Reserve cut interest rates near zero and indicated that they may last for years as little. That timeline could go up. Now, most Fed policymakers expect two interest rate hikes by the end of 2023, a more aggressive plan that nods to Recent inflation concerns. With prices rising on everything from homes to cars to clothing (and .) even the boats), central bankers are sharpening their forecasts for the economy’s recovery and working to keep growth stable.
daily business briefing
no more angels
after a devastating many years As a result, hundreds of shops were closed. a failed acquisition And this Resignation of his scam-stricken chief executive, Victoria’s Secret Is a Hail Mary: a major rebrand. The once ubiquitous lingerie company has abandoned its previous marketing strategy of attracting male fantasies of “sexy” women, embodied by the brand’s supermodel “Angels”. Instead, it will feature a more inclusive, diverse cast of seven women (“VS Collective”), including Megan Rapinoe, soccer star and gender equality advocate, and Indian actor and tech investor Priyanka Chopra Jonas. But will women buy it — or, more important to the company, the underwear it’s trying to sell?
Trouble in Lordstown
Lordstown Motors, a start-up automaker that acquired a closed General Motors plant in Ohio, promised to develop electric trucks and bring back manufacturing jobs. Instead, its prototype truck burned down during testing in February and securities regulators are company investigation and its claims about customer interest in its vehicles. It now appears that the company may not have enough money To build the trucks that promised. This is bad news for Lordstown activists as well as its supporters, including GM. big names like