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Twitter takes a hit | Inditex impresses |

Hi Reader, here's what you need to know for September 15th in 3:10 minutes.

☘️ Finimized with an espresso at Cork Coffee Roasters in Cork, Ireland (🌤18°C / 64°F)

Today's big stories

  1. The Musk-Twitter saga continues – with a twist
  2. Cracks are starting to show in the global housing market – Read Now
  3. Clothing giant Inditex reported impressive results

Blow The Whistle

Blow The Whistle

What’s Going On Here?

Twitter shareholders approved its buyout this week, but the deal’s far from done.

What Does This Mean?

The once-hot Musk versus Twitter topic might not be trending anymore, but that doesn’t mean the drama’s cooling off. Musk – who pulled out of his Twitter buyout deal in July – has been battling the social media company and its lawyers ever since. And just as Twitter’s shareholders stamped their seal of approval this week, a whistleblower testified to the government that Twitter lacked basic security measures. In fact, they even claimed a spy had landed a job there and got their hands on precious data – potentially including accounts of senators in the room. Twitter can always rely on the “disgruntled ex-employee” card to discredit the fiery testimony, sure, but you can bet Musk will hope these slippy security stories will help him wriggle out of the deal.

Why Should I Care?

Zooming in: Let’s all be friends.
Twitter’s board of directors is duty-bound to seek the best outcome for the company’s shareholders, which could include forcing the deal through. Musk, though, isn’t budging on his claim that Twitter withheld vital information about the platform’s number of bots. So maybe the two staunchly committed parties should consider compromising: Musk could easily up the $1 billion he promised to pay if the deal fell through, extra cash that would appease shareholders by funding the company’s recovery. Plus, skipping out the reluctant owner bit wouldn’t hurt either of them.

The bigger picture: Hear, hear.
Those Twitter-happy senators will have been listening very closely: lawmakers are already keen to enforce stricter regulations on big tech companies, so details of lackadaisical security practices may only hasten their clamp-down efforts. After all, if politicians tar all social media and tech companies with the same brush, any fallout from Twitter could affect the likes of Meta and Amazon too – and they’ve already faced more than their fair share of browbeating.

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Analyst Take

Are We Headed For A Housing Market Crash?

Are We Headed For A Housing Market Crash?
Photo of Reda Farran

Reda Farran, Analyst

During lockdown, everyone you knew was shopping for pets, Pelotons, and plants. Afterwards, everyone was shopping for houses.

And mortgage rates at invitingly low levels helped fuel a home-buying frenzy.

Now, though, rising interest rates and red-hot inflation have made homes and mortgages tougher to afford, increasing the risk of a housing market crash.

That’s today’s insight: are we headed for a global housing market crash?

Read or listen to the Insight here

SPONSORED BY BABBEL

Learn a language like a local

Your old faithful “un croissant, s’il vous plaît” can only get you so far.

See, when you actually want to get stuck into a language, whether it’s for work or play, you’ll need to know the phrases locals actually use.

Well, Babbel Live has you covered: you’ll learn practical phrases from certified teachers in a live online class, and you’ll always be given the cultural context around your new go-to lines.

That live-action format means you can practice your new skills with a small group of like-minded linguists – you might even make some new travel buddies while you’re at it.

You’ll feel like you’re learning from locals: check out Babbel Live for free.

Check Out Babbel Live

Inditex Passes The Buck

Inditex Passes The Buck

What’s Going On Here?

Zara-owner Inditex announced impressive results on Wednesday after some crafty price hikes.

What Does This Mean?

Inditex is just one of many retailers facing higher costs, but the world’s biggest clothing retailer’s been hiking its own prices to make up the difference. By no small amount, either: UBS data showed Zara’s prices were up 12% on average in July from the same time last year, overshooting inflation which hit 8.3% and 9.9% in the US and UK last month. Mix those (some would say greedy) price hikes with a super-strong US dollar, and the fast-fashion behemoth bulked its sales and profit by an expectation-beating 25% and 41% respectively over the six months leading up to the end of July versus the same period last year. And Inditex isn’t slowing down: the retailer told investors that sales from this August and the first week of September were up 11%.

Why Should I Care?

The bigger picture: The power to price.
Whether cheap-and-cheerful retailers or luxury stores are more able to weather inflation’s storm divides opinions. On one hand, price rises on lower-cost items might be small beer in absolute terms. But on the other, luxury brands can flex their “pricing power” – jolting prices without scaring off customers – more, since their clientele generally have higher budgets. But one thing’s for sure: brands that sit somewhere between the two can bank on neither smaller hikes nor fanatical brand loyalty, so they may have tougher months ahead.

Zooming out: It’s more than just pricing.
Inditex flies through its massive inventory, which is a life-saver in times like these: retailers with fast turnovers can push their prices up every time they release a new line. But because retailers tend to bump their inventory ahead of the shopping-heavy winter season, keeping stock flying out the door will be vital – especially if this selling season turns out to be as bad as some expect.

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💬 Quote of the day

“To pay attention, this is our endless and proper work.”

– Mary Oliver (an American poet)
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The Dow’s dipping

The Dow is one of the most keenly-watched US stock indexes, and it carries some serious heft.

So it doesn’t bode well that this year’s less-than-idyllic conditions have sent it tumbling down a steady downward slope.

You’ll probably have three big questions right about now: what’s going to happen next, how to protect your income and savings, and how you can use the crash to actually make money.

As luck would have it, you can get all three answers today by watching this quick video by Weiss Ratings.

Get your head around the crash with Weiss.

Find Out More

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🎉 Coming Up Soon…

All events in UK time.

📚 How To Do Your Due Diligence For Web3 Projects: 4pm, September 16th
💰 Building Crypto Wealth In A Bear Market: 12pm, September 20th
😎 Three Industries That Can Thrive During Recessions: 5pm, September 21st
🎨 How To Hedge Against Inflation With Fine Art: 5pm, September 22nd
🇺🇸 What’s Next For The US Economy?: 1pm, September 29th
🚀 Modern Investor Summit: 12pm, December 6th-7th

🎯 On Our Radar

  1. Bye bye, baldness. Scientists are using gene modification to tackle hair loss.
  2. Don’t “quiet your mind”. Train it to be kinder instead.
  3. Plants need baths. Or at least a quick dunk.
  4. Dark Disneyland. Turkey’s got a whole town full of abandoned fairytale mansions.
  5. Italy’s getting worked up about food. And it’s not because someone made carbonara with cream.
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