What we’re reading (12/8)
“BlackRock Says Get Ready For A Recession Unlike Any Other And ‘What Worked In The Past Won’t Work Now’” (Insider). “The global economy has already exited a four-decade era of stable growth and inflation to enter a period of heightened instability — and the new regime of increased unpredictability is here to stay, according to the world's biggest asset manager.”
“FTC Sues To Block Microsoft’s Acquisition Of Activision Blizzard” (CNBC). “The Federal Trade Commission said on Thursday it has filed an antitrust case against Microsoft to challenge the software maker’s attempt to acquire video game publisher Activision Blizzard, claiming it would violate U.S. law.”
“Wall Street Boom Ends As Goldman Cuts Bonuses” (Semafor). “Goldman Sachs’ bonus pool for senior employees is expected to shrink by as much as half, people familiar with the matter said, as CEO David Solomon tries to boost flagging shareholder returns in a tough year across Wall Street.”
“The U.S. Chip Boom Is Just Beginning” (Axios). “Chip giant Taiwan Semiconductor Manufacturing Co.'s decision to triple its investment in Arizona is part of a national rush to re-shore key inputs for the American economy…TSMC says the plants will create more than 10,000 high-paying tech jobs, including 4,500 directly at the plants themselves.”
“The $42 Billion Question: Why Aren’t Americans Ditching Big Banks?” (Wall Street Journal). “In theory, savers could have earned $42 billion more in interest in the third quarter if they moved their money out of the five largest U.S. banks by deposits to the five highest-yield savings accounts—none of which are offered by the big banks—according to a Wall Street Journal analysis of S&P Global Market Intelligence data.”
