What we’re reading (10/28)
“Social Media CEOs To Come Under Senate Scrutiny” (Wall Street Journal). “Chief executives of the largest social media companies will testify Wednesday before the Senate Commerce Committee in a hearing examining their platforms’ role in shaping political discourse. Less than a week before Election Day, members of the Republican-led panel are expected to question Facebook Inc. CEO Mark Zuckerberg, Twitter Inc. CEO Jack Dorsey, and Sundar Pichai, CEO of Google and YouTube owner Alphabet Inc., about their treatment of politically charged content, from advertising to news to candidates’ posts.”
“Nasdaq and Invesco: Mothers of Innovation” (CNBC). A couple of new tech-focused funds from Invesco and Nasdaq: “The Invesco NASDAQ-100 ETF (QQQM) is designed for easier inclusion in mutual funds and dedicated plans, and appeals to long-term, buy-and-hold investors such as people saving for retirement. Expanding beyond the Nasdaq-100 ecosystem, the Invesco NASDAQ Next Generation 100 ETF (QQQJ) looks at those companies next in line to join the Nasdaq-100, and offers exposure to mid-cap companies that will be the next generation of leading innovators. The Invesco Nasdaq-100 Mutual Fund (IVNQX) is a mutual fund to help advisors and defined contribution providers tap Nasdaq-100 innovation. And the Invesco Nasdaq-100 Unit Investment Trust (QQQG) provides advisors with a pre-determined expiration date and dividends of a unit investment trust.”
“Why Dunkin’ Is Worth Nearly $9 Billion” (DealBook). “Dunkin’ Brands is close to a $8.8 billion deal to sell itself to Inspire Brands, the restaurant operator backed by the investment firm Roark Capital. A deal could be announced as soon as today, sources say. Here’s everything you need to know about the scoop[.]”
“Crop Prices Dragged Lower As Weather Improves In Key Growers” (Bloomberg). “Prices for most major agricultural commodities fell as key weather forecasts improved and crop futures joined a broader global selloff. Wheat fell for a third day in Chicago, the longest rout in seven weeks, while corn dropped the most in more than a month. Cocoa, sugar, cotton and coffee all traded lower.”
“Billionaire Blasts ‘Gilligan’s Island’ On A Loop To Annoy Neighbor, CA Suit Says” (Sacramento Bee). “A billionaire investor is being sued by his next-door neighbor in Laguna Beach and is accused of blasting the “Gilligan’s Island” theme song at all hours of the night in a feud over a $1 million sculpture. Bill Gross, the co-founder of Pimco, and his partner, Amy Schwartz, reportedly erected a 22-foot-long sculpture with netting to protect it from damage, according to the lawsuit. Gross’ neighbors Mark Towfiq, a tech entrepreneur, and his wife, Carol Nakahara, allege that the couple didn’t get permission from the city to build the statue…[t]he lawsuit states that Towfiq called the city and complained about the structure, which was installed in 2019…[t]he city sent Gross a letter on July 28 about the sculpture and netting, saying that it lacked permits. That’s when the neighbors say the music started.”
