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France got a $16 billion cash infusion from the likes of Microsoft, Amazon, and Pfizer. The investments come as the country faces a budget deficit and a 7.5% unemployment rate.
GameStop stock shot up thanks to a meme stocker’s return. Share prices were up as much as 70% and trading was even halted after Roaring Kitty, the American investor known for his posts on Reddit’s r/wallstreetbets, resurfaced online.
Google accidentally deleted a $125 billion pension fund’s account. About half a million people that were affected by the incident can access their funds again, but it’s putting more scrutiny on the safety of the data-saving method.
Kraft Heinz might sell Oscar Mayer. The iconic hot dog brand could fetch as much as $5 billion.
And Johnson & Johnson is definitely selling Band-Aids. The healthcare giant is getting rid of its last stake in Kenvue, the maker of Tylenol and other personal care products, in a $3.75 billion deal.
Melinda Gates is leaving the Gates Foundation. The philanthropist is looking to pursue her own charity.
Nvidia stock is the new gold
Gold is still the first choice for many investors looking to hedge inflation, but a growing number of people think that tech stocks are just as shiny.
A new Bloomberg Markets survey found that Nvidia is the gold standard of tech stocks when it comes to warding off persistent inflation. But people are buying up Facebook parent Meta, Microsoft, Google parent Alphabet, Amazon, and Apple, too.
Here are some key takeaways from the survey, by the digits:
One-third: Share of respondents that said they’re turning to tech stocks, not gold, to shield themselves from inflation
46%: Share of respondents that said they’re turning to gold for the same reason
200%: Amount Nvidia’s share has risen in the last year
$900: Nvidia’s share price
$2,335: Spot gold price
Here come the 100% EV tariffs
New U.S. tariffs on Chinese exports are expected to be handed down this week by the Biden administration, and the restrictions are coming for one product in particular: cars.
The new tariffs, aimed at China’s electric vehicle makers, would make any automaker sweat. They’re slated to reach as high as 102.5%, up from 27.5%.
The announcement, which could land as soon as today, is expected to be framed as a necessary measure to protect American workers. But the increased tariffs are also thought to be more of a symbolic than practical gesture — Chinese EV makers already largely avoid exporting to the U.S. due to existing tariffs imposed by former President Donald Trump’s administration.
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Surprising discoveries
Americans who make $200,000 a year said they’re still living paycheck to paycheck. The reason? Families and fun are expensive.
The solar storm threw a wrench into farming. The precision systems on tractors were largely rendered useless during the event, and that could spell trouble come harvest time.
Ticket prices are sky-high for Caitlin Clark’s debut game in the WNBA. Court-side seats are going for nearly $5,000.
Another summer means yet another sriracha shortage. Maker Huy Fong Foods is pressing pause on production until after Labor Day.
The word “journey” has taken on a whole new colloquial meaning. It really is everywhere and about everything.
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