India’s Income Inequality Surges

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🇮🇳 🇮🇳 India’s soaring income inequality is now among the highest in the world. The gap between the haves and have-nots is starker than in the US, Brazil and South Africa, and worse than in the country’s own history under foreign rule

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MS Sees Four Rate Cuts

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🇺🇸 🇺🇸 Morgan Stanley is forecasting 4 Federal Open Market Committee (FOMC) rate cuts in 2024

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Canva Acquires Affinity

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🚨 🚨 Canva Inc. has acquired the Affinity suite of creative software popular with Mac and iPad users, securing a major acquisition to compete with Adobe Inc.

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Argentina: Pte Sector Wages Plunge

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🇦🇷 🇦🇷 Private-sector wages in Argentina fell the most in nearly three decades after President Javier Milei’s currency devaluation, according to a new government report

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Nvidia: It’s Not Over Yet

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🚨 🚨 Analysts are forecasting Nvidia’s annual revenue will jump to $131 billion by 2026, more than double the $61 billion recorded in the fiscal year that just ended

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Reddit Starts The Week 30% Higher

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🚨 🚨 Reddit shares rise 30% to start week after social media company’s IPO

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Solana Is Back In Favour

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🚨 🚨 “Solana is capable of processing thousands of transactions per second, with block times recorded at 400-500ms — significantly higher performance than existing blockchains. Ultimately, Solana’s adoption of this technical approach aims to achieve two missions: an expandable platform that can handle high usage and composability between applications,” researchers at Four Pillars wrote

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Does Powell Know What He’s Saying?

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🚨 🚨 “The New York Fed has constructed a new measure of trend wage inflation, which currently is running at 5%…Wage inflation at 5% is not consistent with the Fed’s 2% inflation target. The Fed will keep interest rates higher for longer:” Apollo’s Torsten Slok

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Alibaba Is Dead Money

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🇨🇳 🇨🇳 Alibaba’s stock is likely to remain stagnant due to lack of major catalysts and underperformance. The company’s core eCommerce business is struggling to gain momentum while its cloud business is also facing increased competition and geopolitical challenges

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