What we’re reading (7/12)
“Google To Pay $2.4 Billion In Deal To License Tech Of Coding Startup, Hire CEO” (Wall Street Journal). “Google has agreed to pay about $2.4 billion in a deal to license the technology of AI coding startup Windsurf and hire its CEO and some of its employees, according to people familiar with the matter. The deal comes after talks for OpenAI to acquire Windsurf stalled, the people said.”
“Build Baby Build” (Paul Krugman). “Right now, maybe the moral is that between California’s anti-NIMBY reforms and NYC’s congestion charge, we’re seeing some real policy improvements in our coastal cities. At the same time, the frustrations experienced in Austin are a reminder of why agglomeration adds value. Cities: They’re a good thing.”
“Treasury Posts Unexpected Surplus In June As Tariff Receipts Surge” (CNBC). “The U.S. government posted a surplus in June as tariffs gave an extra bump to a sharp increase in receipts, the Treasury Department said Friday. With government red ink swelling throughout the year, last month saw a surplus of just over $27 billion, following a $316 billion deficit in May. That brought the fiscal year-to-date deficit to $1.34 trillion, up 5% from a year ago. However, with calendar adjustment, the deficit actually edged lower by 1%. There are three months left in the current fiscal year, which ends Sept. 30.”
“Walgreens Shareholders Approve $10 Billion Private Equity Buyout” (Yahoo! Finance). “Walgreens shareholders will receive $11.45 per share from Sycamore Partners per the terms of the deal first announced in March, the companies said Friday. They could also receive as much as an additional $3 per share from the future monetization of Walgreens' debt and equity interests in its VillageMD clinic business.”
“Hospital M&A Has Hit The Brakes — But Activity Could Pick Up In The Second Half Of 2025” (Dealbreaker). “There were only five hospital M&A transactions during the first quarter of 2025 — compared to the first quarters of 2024 and 2023, which had 20 and 15 deals, respectively. This slump is due mainly to the Trump administration’s flurry of new policies and the resulting widespread economic uncertainty.”
