Bloomberg - Evening Briefing - Soft landing or recession?

Bloomberg Weekend Reading

Prospects for global growth or the potential for a US recession seem to depend on who you ask. Outspoken corporate leaders from Jamie Dimon to Elon Musk are intensifying warnings about US inflation, which hit a fresh 40-year high in May, as well as impending interest rate hikes. But most economists still argue a contraction is unlikely in the immediate future. That’s little consolation for Americans dealing with spiking costs for the basics like food, utilities and energy. Avocado prices led inflation in Mexico last month, while gasoline in the US hovers near a once-unthinkable $5 per gallon. The Federal Reserve is walking a tight rope trying to cool off the economy without crashing it, but there’s still hope for a soft landing, John Authers writes in Bloomberg Opinion.

What you’ll want to read this weekend

Musk’s drama-filled Twitter takeover took another turn, with the billionaire threatening to walk away from  the deal because of bots. But mergers can’t be terminated because of buyer’s remorse. Meanwhile, one of Musk’s biggest backers in the proposed $44 billion deal is a secretive Dubai-based investment fund which has committed $700 million in financing. 

“It was carnage, it was chaos.” Capitol Police officer Caroline Edwards, who sustained severe head injuries in the Jan. 6, 2021 insurrection, provided some of the most dramatic testimony in the first of a series of public hearings about the deadly effort to halt the US transfer of power to now-President Joe Biden. The bipartisan House committee investigating the attack said Donald Trump played a key role, and warned that American democracy remains very much in danger. In its first session, Jonathan Bernstein writes in Bloomberg Opinion, the Congressional panel “made the case against Trump.” 

Caroline Edwards, a US Capitol Police officer injured in the Jan. 6 insurrection, listens during a hearing of the Select Committee to Investigate the January 6th Attack in Washington on June 9. Photographer: Ting Shen/Bloomberg

Apple unveiled the most significant overhaul to its popular MacBook Air laptop in more than a decade, complete with a fresh design and speedier M2 processor. The tech giant is also pushing deeper into financial services with a “buy now, pay later” offering, and it’s also the primary target of a provisional European Union agreement requiring all smartphones and tablets to use a common charger.

Flying will get a lot more expensive in the future, and people are likely to do it less. That’s the conclusion of a new study on how the airline industry can cut emissions in line with global climate goals. Singapore Airlines will start selling sustainable aviation fuel credits in July, as airlines and governments look to reduce climate pollution while more-advanced technology, like battery-powered aircraft, is still in research stages. Passengers will no longer need to show a negative Covid-19 test to get into the US, but airlines that lobbied for the change may be in for a rude surprise.  

Hong Kong is again the world’s most expensive city to live in if you’re an expat, with New York and Geneva rounding out the top three. And if you’re looking for a Manhattan apartment, be prepared to shell out record rent as the population roars back from the pandemic outflux. While the vast majority of residents now fear violent crime, the Big Apple is still far safer than rural America, Justin Fox writes in Bloomberg Opinion.

The Manhattanville neighborhood of New York City. Photographer: Jeenah Moon/Bloomberg

What you’ll need to know next week

What you’ll want to read in Bloomberg Equality

Larry Ellison’s Lanai Isn't For You or Its Residents

The world's 11th richest person bought the Hawaiian island of Lanai for $300 million. Over the past 10 years, he’s opened a Nobu and has hosted the world’s super-wealthy while pushing out families that have been there for generations. For those who have stayed, many residents both rent from him and work for him, So it goes on Lanai, where Ellison has become a modern American king.

Beachside at the Four Seasons Resort Lanai Photograph: Elizabeth Weinberg

Older messages

‘Attempted coup’

Friday, June 10, 2022

Bloomberg Evening Briefing View in browser Bloomberg The first public hearing of the Congressional committee investigating the Jan. 6, 2021, attack on the US Capitol left no doubt as to its position on

The insurrection hearings

Thursday, June 9, 2022

Bloomberg Evening Briefing View in browser Bloomberg Seventeen months after the world witnessed the unthinkable, a violent mob including white supremacists and so-called militia members ransacking the

Self-fulfilling prophecy

Wednesday, June 8, 2022

Bloomberg Evening Briefing View in browser Bloomberg It's been a wild year on Wall Street so far, and all that tumult has some traders concerned about extreme scenarios that might engulf the $23

Worldwide stagflation

Tuesday, June 7, 2022

Bloomberg Evening Briefing View in browser Bloomberg Prices for shipping containers, semiconductors and fertilizer have come down in recent months, potential signs of relief for US consumers as the

Boris Johnson survives

Monday, June 6, 2022

Bloomberg Evening Briefing View in browser Bloomberg Ukraine is in talks with the United Nations on ways to export grain from ports blocked by Kremlin forces, President Volodymyr Zelenskiy said, but

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

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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

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Removing Ammo Inc (POWW) From the BUY LIST

Friday, July 1, 2022

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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

🤞 Here's hoping the Twitter deal doesn't collapse

Thursday, June 30, 2022

Megadeals top regular deals | Gazprom pulls a gotcha | TOGETHER WITH Hi Reader, here's what you need to know for July 1st in 3:11 minutes. 😎 There are three top-level decisions to make as an

💸 Money Cheat Sheet: In This Economy?

Thursday, June 30, 2022

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Fed Chair Powell warned that sky-high inflation could turn permanent. It's the opposite of what he said a year ago.

Thursday, June 30, 2022

Thinking supply chains would quickly heal was something the Fed got wrong, Powell said Wednesday. Now there's a "clock running" to cool inflation. View in browser Business Insider