Elon’s restaurant

AMC soared 95% Wednesday as retail traders continued to flock to the stock, sending its market value past $33 billion. Just a few short months ago, the movie theater chain was facing bankruptcy; now it’s up 2,900% on the year. AMC executives are leaning into the Reddit meme-stock phenomenon, saying they’ll reward small investors with special screenings and (of course) free popcorn. But not everyone on Wall Street is so convinced about this new version of GameStop. Here’s your markets wrap.Margaret Sutherlin

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America

Here are today’s top stories  

Exxon Mobil activist investor Engine No. 1 is expected to win a third seat on the oil giant’s board. Last week, the tiny investor shook the world by winning two seats on the fossil fuel company’s 12-person board. Investor dissatisfaction with Exxon has largely centered on two issues that are becoming more interlinked: its starring role in the climate crisis and its financial performance. This latest win for Engine No. 1 may also spell the end for Exxon CEO Darren Woods. 

U.S. President Joe Biden unveiled a plan to work with churches, colleges, businesses and even celebrities to boost coronavirus vaccination as demand falters, with only 41% of the country fully vaccinated. Israeli health officials said they found a probable link between Pfizer’s Covid vaccine and a rare heart inflammation in some young men. Here’s the latest on the pandemic

The pandemic has crushed commercial real estate, and there’s no sign that’s going to change even as the coronavirus recedes in some countries. But there’s a $10 billion bright spot for the embattled industry. 

The White House is pushing to close a tax break that helped Biden’s predecessor amass a fortune. Biden has proposed narrowing a tax code provision that allows real estate investors to avoid capital gains taxes when they sell property and use the gains to buy more property. Donald Trump’s most valuable investment, tied to a $95 million purchase of a west-side Manhattan development site, has benefited from the rule

A few days after hackers alleged to be inside Russia took the world’s largest meat producer offline, the company said it’s starting to partially reopen most beef operations across North America and Australia. It’s the second big cyberattack on critical U.S. infrastructure linked to Russia in less than a month, and follows a report that hackers allegedly linked to the Chinese government infiltrated New York’s Metropolitan Transit Authority, which runs the largest subway system in the U.S.

 

A New York City Subway 7 Line train in Queens. Photographer: © Marco Bottigelli/Moment RF

The European Commission and Bill Gates joined forces to mobilize up to $1 billion worth of investment in clean technologies like green hydrogen and sustainable fuels. The partnership aims to build large-scale projects that will deliver significant reductions in carbon dioxide emissions.

Shortly after Hong Kong rejected an application for tens of thousands of protesters to commemorate China’s deadly crackdown in Tiananmen Square, Chow Hang Tung couldn’t stand by a booth showcasing the incident without police shooing her off. Democracy activists say Beijing, which has already stripped Hong Kongers of many civil liberties, is using the pandemic to further silence them

Chow Hang Tung at a street stall commemorating the 1989 Tiananmen Square crackdown on May 29. Photographer: Ivan Abreu/Bloomberg

What you’ll need to know tomorrow 

A Tesla Diner May Be Coming To A City Near You

Move over, In-N-Out Burger. Elon Musk is one step closer to opening a diner. Tesla filed applications with the U.S. Patent and Trademark Office to use its “T” logo design and two other iterations of its “Tesla” stylized logo in the food business.  

Elon Musk Photographer: Pool/Getty Images Europe

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Global meat supply hack

Tuesday, June 1, 2021

Bloomberg A cyberattack on JBS, the largest meat producer in the world, forced the shutdown of American slaughterhouses, and the closures may be spreading. JBS's five biggest beef plants in the US

Big Oil takes a beating

Saturday, May 29, 2021

Bloomberg Follow Us Get the newsletter As the pandemic slowly recedes in the US and Europe, the front lines of the war against Covid-19 have shifted back to Asia, where nations once seen as havens now

‘Trump’s big lie’

Friday, May 28, 2021

Bloomberg At the direction of US Senator Mitch McConnell of Kentucky and the urging of former President Donald Trump, Senate Republicans blocked a bill to create a 9/11-style, bipartisan commission to

Rise of the ‘dead zones'

Thursday, May 27, 2021

Bloomberg AMC Entertainment Holdings capped its best trading session in four months, pushed higher by eager retail investors who celebrated vaulting the company's market value to a record $13

Where Covid came from

Wednesday, May 26, 2021

Bloomberg US President Joe Biden said he ordered the US intelligence community to “redouble” its effort to determine the origin of the coronavirus, including whether it came from a Chinese lab accident

Weekly Wrapup: Bills and Gambles

Saturday, July 24, 2021

Finshots Weekly Wrapup: Bills and Gambles In this week's wrapup we talk about the Monsoon Session of Parliament, Reliance's acquisition of Just Dial, the new drone regulations, and finally

Dangerous games

Friday, July 23, 2021

Bloomberg After a yearlong delay due to Covid-19, and some scandals and high profile resignations, the 2020 Tokyo Olympics are finally underway. The Games, the first ever without spectators, promise to

FTT Update: This Newsletter Requires Vaccination

Friday, July 23, 2021

​ ​ Hi all, Julie here. Happy Summer Friday all! Jordan and I close on our new home IN ONE WEEK! Ahhh! Keep us in your prayers as we hope that all goes well with that as well as the move itself. In the

Not Your Parents’ Mutual Funds: How Gen Z Is Investing

Friday, July 23, 2021

Why you should worry about the next crypto crash July 23, 2021 So much for babysitting or busing tables. Today's young adults are using the internet to make money, and not chump change either.

Ever Grande

Friday, July 23, 2021

Plus: Simply not Fintechery, Circle, Equity Research, Finally ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Taking Strategy Seriously

Friday, July 23, 2021

Plus! Errata, Streaming as Instant Gratification; Batteries; Shrinking Analyst Teams; Diffident Voters; Oil; Recapitalized ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Prices for Used Cars Are Soaring, and That Could Cost Drivers Who Aren’t Even Looking to Buy

Friday, July 23, 2021

The amount you receive if your car is a total loss may fall short of its replacement cost. July 23, 2021 INSURANCE Prices for Used Cars Are Soaring, and That Could Cost Drivers Who Aren't Even

Litigation Finance

Friday, July 23, 2021

Plus: Stress Tests, Revolut, Tink/Visa ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Long Slow Short

Friday, July 23, 2021

Plus: Robinhood/Distressed Investing, Banker Hours, Compound Treasury ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

What is Robinhood?

Friday, July 23, 2021

Plus: Buy Now Pay Later, M&A, Weather ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌