What we’re reading (4/21)
“Double-Digit Price Increases Bolster Profits At Procter & Gamble” (New York Times). “Another round of price increases on household products like Gillette razors, Dawn dish soap and Swiffer dusters bolstered Procter & Gamble’s bottom line last quarter, the company said on Friday, a sign that stubborn inflation may linger as companies defend their profit margins.”
“Billion-Dollar Hedge Fund Startups Rise To Pre-Pandemic Levels” (Bloomberg). “The biggest new hedge funds are raising more money, at levels not seen since before the pandemic, and the 2024 crop could include one of the largest startups in years. At least four new firms are poised to eclipse $1 billion by year-end, collectively bringing in at least $6.5 billion from investors, according to people with knowledge of the fundraising activities.”
“Gen Z Is Buying Up Homes. How They Got So Lucky — And Millennials Got Screwed.” (Insider). “Gen Zers may be the new kids on the block, but when it comes to home buying they are coming out on top. That's according to a report from Redfin that has found the generation has surpassed their peers in homeownership at the earliest stages of their adulthood. In 2022, 30% of 25-year olds owned their home, slightly higher than the 28% rate for millennials and 27% rate Gen Xers when they were that age, data from the real estate brokerage shows. So how did Gen Z gain the competitive edge? It all comes down to a healthy labor market, Daryl Fairweather, the chief economist at Redfin, told Insider.”
“The Economics Of Dating During High Inflation” (The Hustle). “The recent bout of inflation has impacted nearly every component of dating life — food, drinks, transportation — and has added additional financial pressure to courtship.”
“Miller High Life Cans Destroyed In Europe Over ‘Champagne of Beers’ Logo” (Wall Street Journal). “Comité Champagne, a trade organization that oversees which bubbly can call itself Champagne, was told about the beer and ‘requested the destruction of these illicit goods,’ a statement by Belgian customs authorities and Comité Champagne said. Only sparkling wines made in France’s Champagne region can use the name on their labels, according to French laws.”
