Good morning, Quartz readers!
HERE’S WHAT YOU NEED TO KNOW
Polymarket’s French “Trump Whale” might have won too much money. Regulators say the bettor’s $30 million wager triggered an examination of whether the platform complies with France’s gambling laws.
Max is adding more subscribers than Netflix. The Warner Bros. Discovery property is expanding quickly overseas.
A common ingredient in medicines fighting the common cold is facing a ban. The FDA has concerns about the safety and effectiveness of the decongestant phenylephrine.
Automakers are suddenly unsure about the future of a key product. Electric vehicles will likely receive less support during a second Trump administration.
Wendy’s says that $1 Frosty demand is red-hot. The fast food company is leaning on AI to help it handle all the orders it’s getting.
Powell holds fast to his suddenly hot seat
Donald Trump likes easy money, and he doesn’t like when interest rates go up. Federal Reserve chair Jerome Powell, who sometimes has to raise interest rates as part of his job, will likely face a bit more political pressure when Trump gets sworn in as president.
Would Powell quit his job if an angry Trump told him to? Powell, whose term on the Fed’s Board of Governors extends to 2026, says that he would not.
What does the head of America’s central bank think about his job security? Quartz’s Rocio Fabbro runs down Powell’s limited chatter about it.
Wall Street’s Trump reactions begin to diverge
When Donald Trump was elected president Tuesday, markets soared. But Goldman Sachs is warning that the jump might be too good to be true.
For one, stock gains were also met with a selloff in Treasury bonds as traders baked in the possibility of inflationary new economic policies. Higher interest rates would rein in galloping equity prices.
Will a Trump White House be good or bad for investors? Quartz’s Vinamrata Chaturvedi cuts through the noise to explain current market sentiment.
MORE FROM QUARTZ
👛 These are the non-Bitcoin crypto coins seeing post-Trump bumps
🚗 Stellantis is cutting 1,100 jobs at Jeep factory in Ohio
🛫 This is why airplane boarding is such a pain
✂️ Amazon is cutting prices all over the place in a pivot-to-cheapness
🤑 The world’s richest people got even richer after the election results rolled in
🪖 These are the best — and worst — American cities for veterans
SURPRISING DISCOVERIES
Rudy Giuliani is still living in 2020. He has a week to hand over his Mercedes Benz to election poll workers he defamed during the last presidential contest.
The cheapest new Broadway seats are on the street. The musical Sunset Boulevard takes a brief detour outdoors during productions. (paywall)
Private jets are a public nuisance. The favored air travel mode of the global elite increased its collective emissions 50% since 2020. (paywall)
The world’s former fastest ocean liner will soon sink quickly to the bottom of the ocean. The SS United States is about to become an artificial reef.
Formula 1 drivers swear they should be allowed to curse. The open-wheelers are collectively pushing back on a linguistic crackdown by the sport’s governing body.
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