Bloomberg - Evening Briefing - Putin’s new warning

Bloomberg Evening Briefing

Vladimir Putin has already warned Sweden and Finland against joining NATO, a move both nations are moving toward in response to his invasion of Ukraine and the thousands of civilians his soldiers have killed there. Now Putin says Russia’s “response” to them joining NATO would come if the two Nordic nations expand their “military infrastructure.” As Finland and Sweden are preparing to deliver their formal applications to join the military alliance, European Union members continue their struggle to impose sanctions on Russian oil, with Hungary’s Viktor Orban blocking progress. On Monday, there was no sign of a breakthrough as foreign ministers sent the issue back to ambassadors for further negotiations. In the meantime, the EU said gas importers in the bloc could continue paying for Russian fuel without breaking sanctions

Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts.

Here are today’s top stories

The S&P 500 was dragged lower Monday by a slide in megacaps including Tesla, Amazon and Apple. The Nasdaq 100 dropped more than 1%. Equity markets gave up earlier gains amid data showing China—beset by lockdowns amid its Covid-zero strategy—is seeing industrial output and consumer spending at their worst levels since the pandemic began. Oh, and about Elon Musk’s Twitter buyout? Let’s just say it’s getting complicated. Here’s your markets wrap 

After last week’s market bloodbath: Stocks are approaching a bear market, the crypto selloff wiped away $200 billion in a day, and amateur investors who jumped into the market in 2020 have lost all their gains. So, with a dark horizon ahead, what’s an individual investor to do?

Microsoft plans to “nearly double” its budget for employee salaries and boost the range of stock compensation it gives some workers by at least 25%, in an effort to retain staff and help people cope with inflation.

Microsoft’s campus in Washington Photographer: Chona Kasinger/Bloomberg

As America heads into its next Covid-19 infection wave with most precautions jettisoned, New York City is close to a transmission level that would have it reconsidering mask requirements in public places. “If NYC’s alert level is raised to high, the city will consider requiring face masks in all public indoor settings,” the city health department said.

Widely used methods for counting US coronavirus hospitalizations can make vaccines appear less effective than they actually are, according to a group of Boston-based researchers. 

The Supreme Court struck down a federal limit on how much candidates who loan money to their own campaign can be paid back with donations made after the election. All six Republican-appointed justices supported the further loosening of campaign finance rules, holding in favor of GOP Senator Ted Cruz and striking down a $250,000 cap. The three Democratic-appointed justices, in a dissent written by Elena Kagan, said “all the money does is enrich the candidate personally at a time when he can return the favor—by a vote, a contract, an appointment. It takes no political genius to see the heightened risk of corruption.”

Ted Cruz  Photographer: Gaelen Morse/Bloomberg

Canadian home prices fell for the first time in two years as a rapid rise in interest rates looks set to cool one of the world’s hottest housing markets. Benchmark home prices declined 0.6% in April from the month before, the first drop since April 2020. The number of sales plunged 12.6%. 

What you’ll need to know tomorrow

The Real Story Behind the House of Gucci 

Gucci is arguably one of the most recognizable names in luxury. But how that famous name got that way is a century-long saga. It stretches from the blossoming of a retail empire that eventually spanned the globe to a bitter family battle that almost destroyed it all. However, the real story of Gucci— and the rich Italian family behind it—is much more complicated.

Gucci in Milan Photographer: Alessia Pierdomenico/Bloomberg

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Crypto chaos strikes

Saturday, May 14, 2022

Bloomberg Weekend Reading View in browser Bloomberg Follow Us Get the newsletter It's been a tumultuous year for investors so far, but for those with a stake in crypto, winter may already be here.

The battle is joined

Friday, May 13, 2022

Bloomberg Evening Briefing View in browser Bloomberg The artillery battle for Ukraine's eastern Donbas region is fully underway, according to the Pentagon, which estimated that defenders have

‘Nuremberg moment’

Thursday, May 12, 2022

Bloomberg Evening Briefing View in browser Bloomberg Yesterday, the implosion of the TerraUSD stablecoin kindled wide-spread panic in the crypto space. But 24 hours later, things looked a bit calmer.

Crypto ‘death spiral’

Thursday, May 12, 2022

Bloomberg Evening Briefing View in browser Bloomberg Russia's deputy foreign minister met with the US ambassador in Moscow amid reports that Kremlin-controlled officials in an occupied area of

Profiting from war

Tuesday, May 10, 2022

Bloomberg Evening Briefing View in browser Bloomberg Stocks closed slightly higher in a session marked by twists and turns as Federal Reserve officials pointed toward the possibility of a more

Longreads + Open Thread

Saturday, July 2, 2022

Microsoft, Long Wars, Taste, Axie Infinity, Student Loans, Roads, Singapore ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The bear market will drag on until inflation subsides and investors should brace for earnings cuts next quarter, according to the investment chief at a $1.2 trillion asset manager

Saturday, July 2, 2022

"We're worried about companies' forecasts for the second half of this year," said Nuveen's investment chief. View in browser Business Insider Business Insider Business Insider

Mortgage meltdown

Saturday, July 2, 2022

Bloomberg Weekend Reading View in browser Bloomberg Follow Us Get the newsletter After a white-hot streak during the first two years of the pandemic, business has started to evaporate for mortgage

Slowing growth

Friday, July 1, 2022

Bloomberg Evening Briefing View in browser Bloomberg JPMorgan cut its US midyear economic growth forecast after an influx of weaker data this week—most notably a slowdown in consumer spending. The bank

Creating a Culture: The Case of Credit Suisse

Friday, July 1, 2022

Plus: Money Men, Pagaya, Research Budgets ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Bed Bath & Beyond has another 50% to fall, and its 'dumpster fire' first quarter means its days could be numbered, analysts say

Friday, July 1, 2022

"It's not going to take years. We could be talking about months at this point. We are in the end days," Loop Capital analyst Anthony Chukumba said. View in browser Business Insider

Wall Street: Not a great quarter, guys

Friday, July 1, 2022

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Hello! I'm Jeffrey Cane, filling in for Aaron Weinman, who is away for a week. First, a reminder that there

The Daily StockTips Newsletter 07.01.2022

Friday, July 1, 2022

I've Screened the Market for what I Consider the Best, Safest, & Most RELIABLE Profit Opportunities! (Published 7:30 AM ET MON-FRI) ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Removing Ammo Inc (POWW) From the BUY LIST

Friday, July 1, 2022

Gone but Not Forgotten ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Doomsayers’ delight

Thursday, June 30, 2022

Bloomberg Evening Briefing View in browser Bloomberg With June now over, we can say that the S&P 500 has suffered its toughest first half since Richard Nixon was in the White House. It was a rout