What I Am Reading

December 14 (Thursday) Latest Morning Briefing Executive Summary: Drugs, China & AI The S&P 500 sector with the brightest 2024 earnings growth outlook is none other than Health Care, with a share price index that’s a deep underperformer this year, Jackie reports. One of its component industries accounts for much of both this year’s stock price pain and next year’s projected earnings gains—pharmaceuticals. Three drug makers in particular appear bound for standout earnings next year. … Also: China’s government is not doing what it takes to overcome its formidable economic challenges. … And in today’s Disruptive Technologies segment: one tech veteran’s advice for working with AI, warts and all. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on December 11. Markets Stocks are soaring. How can investors take advantage? | C The Dow Jones Industrial Average Is So Back. Here Are the Stocks Sending It to New Highs. | W Wall Street Traders Go All-In on Great Monetary Pivot of 2024 | B JPMorgan Strategist Aronov Sees Big Credit ‘Reckoning’ as High Rates Bite | B U.S. Treasury yields: investors digest Fed rate outlook | C Central banks World Central Banks Signal Victory Over Inflation Is in Sight | W Jerome Powell Makes His Inflation Pivot | W Fed rarely cuts rates at a ‘measured pace’ | R ECB Holds Rates With Inflation Sinking But Hastens Bond Exit | B BOE Holds Rates With Warning of a ‘Way to Go’ on Inflation | B   US US economy still resilient as retail sales beat expectations, layoffs stay low | R Retail sales rose 0.3% in November vs. expectations for a decline | C Strong Holiday Spending Adds to Signs U.S. May Beat Inflation Without Downturn | W Americans Are Spending on the Holidays After All | W US II Mortgage Rates Fall Below 7%, Giving Some Relief for US Housing Market | B What Fed Rate Cuts Mean for Home Buyers in 2024 | W Why Doesn’t Gen Z Want to Be All It Can Be? | W Congress passes $886 billion defense policy bill, Biden to sign into law | C China China is still the top dog in commodities, but its bark is changing | R Geopolitics & trade A World in Disarray? A Longtime Diplomat Says It’s Worse Than That | W European Union leaders agree to open membership talks with Ukraine | C New attack on Red Sea cargo ship as U.S. proposes naval coalition | R Industries & companies Airlines: Southwest CEO: Christmas meltdown ‘will never happen again’ | C Autos: GM’s Cruise laying off 900, or 24% of its workforce: Read the memo | C

December 13 (Wednesday) Latest Morning Briefing Executive Summary: Earnings: Yesterday, Today & Tomorrow S&P 500 companies collectively outperformed industry analysts’ Q3 expectations, posting record-high revenues and earnings per share. The profit margin was the highest in four quarters, suggesting that the cost-push inflation pressures that had weighed on margins are easing. … Analysts’ consensus estimates for 2024 and 2025 suggest accelerating growth for both revenues and earnings and rising profit margins. … The earnings outlook together with our projected valuation ranges result in our price targets for the S&P 500 of 4600 by the end of this year, 5400 by the end of next, and 6000 by year-end 2025. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on December 11. Markets S&P 500 Rises to Highest Level Since January 2022  | W Stock Buybacks Are Getting Aggressive | W Stock Investors Unprepared for Shocks, Wells Fargo’s Chris Harvey Warns | B U.S. crude oil falls 4% as traders worry inflation affects demand | C Inflation Expectations Cool as Oil Tumbles Ahead of Fed Decision | B China Turns the Tables on Wall Street | W Central banks Here’s everything the Fed is expected to do Wednesday | C Fed to start cutting rates midyear in 2024 with high chance of soft landing, CNBC Fed survey finds Traders Trim Bets on 2024 Fed-Rate Cuts After Inflation Report | B Why Fed rate hikes take so long to affect the economy | C The Fed Doesn’t Need to Cut. Financial Conditions Are Already Loosening. | Manhattan Institute Fed Inflation Fight Enters Last Leg Without ‘Pain’ It Feared | B US Yellen Says U.S. Economy on Path to Soft Landing | W Inflation Edges Lower, but Still Too High for the Fed | W Stubbornly high rental costs lift US consumer inflation in November | R CPI inflation report November 2023 | C Here’s the inflation breakdown for November 2023 — in one chart | C Yes, Trump can win the 2024 election. Here are four reasons why | R Europe Europe’s top economies slash carbon intensity of electricity | R Geopolitics & trade U.S. Companies Are Finding It Hard to Avoid China | W United Nations demands humanitarian ceasefire in Gaza | R Industries & companies Autos: Tesla to Recall More Than Two Million Vehicles Over Autopilot Safety Concerns | W Media: Netflix Releases Full Viewership Data for First Time | W Pharma: Pfizer gets OK for $43-billion Seagen deal after donating cancer drug rights | R Pharma: Pfizer Warns 2024 Revenue Could Fall, Weighed Down by Soft Demand for Covid Products | W Retail: The retail theft problem has been greatly exaggerated | Creditnews Corporate finance Bankrupt trucking co Yellow approved for $1.88 bln real estate sale | R   Climate New COP28 Draft Demands Swifter Fossil Fuel Transition | B President Biden just pledged to shut down 60% of America’s electric power | P Artificial Intelligence OpenAI nonprofit arm $45,000 in 2022 revenue, company worth billions | C Why creating an international body for AI is a bad idea | FO Beyond markets BlackRock, Other Investment Firms Next Target in House ESG Probe | B

December 12 (Tuesday) Latest Morning Briefing Executive Summary: Global Economy Still In A Funk Recent global indicators show economic growth at a crawl, commodity prices remaining weak, and inflation moderating. Weighing on the pace of growth have been recessions in China and Europe. China’s economic malaise is secular in nature and likely to last for a while given the challenges facing that country. But we expect the ECB to ease in the spring as inflation moderates, and the Eurozone’s shallow recession to lift. US economic growth has been slowing from Q3’s rapid pace, but a comeback in productivity growth could recharge it. … We continue to advise overweighting US stocks in global equity portfolios. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on December 11. Markets Stocks Edge Higher Ahead of Inflation Data, Fed Meeting | W Wall Street closes at fresh 2023 highs as inflation data, Fed eyed | R When Bond Yields Dropped, the Everything Rally Kicked Off | W Thermal coal prices diverge as Japan, South Korea buy more, China, India less | R Central banks Rate cuts ahead? Fed, ECB and other central banks set for pivotal week | C The Fed’s higher-for-longer strategy on interest rates is slowly crumbling | NN If You Fight Inflation With Fed Rate Hikes, You Don’t Fight Inflation | FO US How the Fed’s Rate Hikes Broke Home Buying, in Six Charts | W Opinion | If Homelessness Is About a Lack of Housing, This Could Be an Answer | N Economy’s Soft Landing Comes Into View as Job Growth Slowly Descends | W U.S. Jobs Market Cools Again, Conference Board Employment Trends Index Shows | W China China’s control-freak leader is dragging down its economy. | P Geopolitics & trade Will an age of war replace our era of booming prosperity? | The Hill Hamas Took More Than 200 Hostages From Israel. Here’s What We Know. | W Industries & companies Financials: JPMorgan begins First Republic makeover as it opens more branches | R Logistics: Amazon drone delivery executive who oversaw FAA relations departs | C Manufacturing: Hasbro Layoffs: Toy Company to Cut Nearly 20% of Workforce | W Tech: New York Joins IBM, Micron in $10 Billion Chip Research Complex | W Climate New COP28 draft text does not mention phase out of fossil fuels | R Corporate finance Occidental Petroleum to expand Permian ops with $12 billion deal for CrownRock | R Artificial Intelligence Microsoft partners with labor group to quell concerns AI taking jobs | C Beyond markets More than 15% of teens on YouTube or TikTok almost constantly | C House panel subpoenas Vanguard, Arjuna in ESG ‘collusion’ probe | C

December 11 (Monday) Latest Morning Briefing Executive Summary: Hard Luck For Hard Landers The economy has proven resilient, defying all the reasons it shouldn’t be, to which diehard hard landers still cling. We expect that it will remain resilient and that inflation will continue to fall to the Fed’s target (a.k.a. “immaculate disinflation”). In this scenario, the Fed won’t be rushing to ease and won’t ease by much. The Fed’s policy stance is perhaps better cast as “normalizing” than tightening that requires undoing. … Labor market supply and demand are coming into better balance, as the Fed would like, though November employment data attest to the labor market’s continued strength. … Also: What to make of the fact that GDI is weaker than GDP. … And: Dr. Ed reviews “Reptile” (+). (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on December 4. Markets A New Era of Income Investing Is Turning Boomers Into Bond Buyers | W Why Treasury Auctions Have Wall Street on Edge | W Central banks Higher Interest Rates Are Here to Stay. What It Means for the Economy. | BR Jerome Powell’s Inflation Fight Is Succeeding, Raising Questions About Rate Cuts | W US Inflation expectations plunge in closely watched University of Michigan survey | C Here’s Where Prices Are Actually Coming Down | W Runway getting clearer, U.S. economy still not assured of soft landing | C Economy’s Soft Landing Comes Into View as Job Growth Slowly Descends  | W Opinion | The Progressive Case for Bidenomics | N The Megafactories Are Coming. Now the Hustle Is On to Find Workers | W Europe Europe’s technology startups are doing just fine | E Europe, a laggard in AI, seizes the lead in its regulation | E China Will China leave behind its economic woes in 2024? | E Japan Will a fiscal mess thwart Japan’s nascent economic growth? | E Industries & companies Autos: Auto Loan Rejections at Record High — How to Up the Odds of Approval | C Banks: A Bank Safety ‘Endgame’ Is Coming. Who Wins and Loses. | BR Health Care: Buy This Hospital Stock. It’s Making the Best of a Bad Situation. | BR Geopolitics & trade China and the EU risk a trade war | E Israel and Palestine: How peace is possible | E Europe Swears Off Russian Gas. The Unexpected Price. | BR Zelenskyy will meet Biden at the White House amid a stepped-up push for Congress to approve more aid | C Vladimir Putin is running Russia’s economy dangerously hot | E Corporate finance Cigna abandons pursuit of Humana, plans $10 billion share buyback | R Investor Group Launches $5.8 Billion Buyout Bid for Macy’s | W Sigma Healthcare Agrees to $5.79 Billion Merger With Pharmacy Chain | W Climate Disturbing UN report calls on Americans to reduce meat consumption. But that’s just the beginning of UN’s radi | FO What to watch at COP28 on Monday | R The Chinese and American Climate Negotiators Pushing for a Deal | W Artificial Intelligence Artificial: The OpenAI Story | W Beyond markets What bankrupt trucker Yellow’s billion-dollar battle means to economy | C Covid-19 was a disaster for the world’s schoolchildren | E

December 08 (Friday) Latest Morning Briefing Executive Summary: Onshoring, Acquisitions & Octopus Federal incentives promoting the onshoring of manufacturing plants have certainly hit their mark in Arizona and New York. Both states are sprouting new regional semiconductor manufacturing ecosystems, Jackie reports, dramatically boosting local economic development. … Also: Financial firms with investment banking operations report a pickup in M&A, a trend that should only accelerate when the interest-rate environment stabilizes. … And our Disruptive Technologies focus today is on Octopus Energy, a British company with an innovative business model that rewards green electricity consumption. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on December 4. Markets Wall Street touches four-month high after jobs data | R U.S. Treasury yields: investors look to U.S. jobs report | C Central banks Fed pivot to interest-rate cuts seen likely to start in May | R Double Trouble: Investors Fight the Fed on Two Fronts | W   US I U.S. Consumer Confidence Jumps in December as Inflation Pressure Eases | W Jobs report November 2023: U.S. payrolls rose 199,000 unemployment rate falls to 3.7% | C Economy’s Soft Landing Comes Into View as Job Growth Slowly Descends  | W Solid US job growth, drop in unemployment rate underscore labor market resilience | R Here’s where the jobs are for November 2023 in one chart | C US II Inflation expectations plunge in closely watched University of Michigan survey | C ‘Excess profits’ of big firms have driven up inflation, report claims | C Why is buying a house in the US so hard right now? | Vox China How China Made a Youth Unemployment Crisis Disappear | W Geopolitics & trade Putin says he will run for re-election in March; U.S. aid hangs in balance after failed vote | C Industries & companies Autos: Falling EV prices could hinder adoption, experts say | C   Technology Google weighing ‘Project Ellmann,’ uses Gemini AI to tell life stories | C Beyond markets Casgevy: First CRISPR gene-editing treatment approved in U.S. | C

December 07 (Thursday) Latest Morning Briefing Executive Summary: Onshoring, Acquisitions & Octopus Federal incentives promoting the onshoring of manufacturing plants have certainly hit their mark in Arizona and New York. Both states are sprouting new regional semiconductor manufacturing ecosystems, Jackie reports, dramatically boosting local economic development. … Also: Financial firms with investment banking operations report a pickup in M&A, a trend that should only accelerate when the interest-rate environment stabilizes. … And our Disruptive Technologies focus today is on Octopus Energy, a British company with an innovative business model that rewards green electricity consumption. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on December 4. Markets Stock Market Today: Dow, S&P 500 Edge Higher; GameStop Stock Up After Earnings | W The Most Important Debate on Wall Street: Is Inflation Licked? | W   Central banks Pro Take: Fed Operating Losses Are Piling Up Amid Higher Interest Rates | W US US labor market steadily slowing; wholesale inventories revised down | R Worker Shortage Eases a Little at Small Firms | W The State Where Unemployment Is Rising the Fastest Is Having Trouble Filling Jobs | W 2023 was least affordable homebuying year: Redfin | C China China’s soft crude oil imports show impact of high prices | R China’s Exports Snap Half-Year Slide | W Geopolitics & trade U.S., India Signal Alleged Plot to Kill American Won’t Derail Ties | W Xi Jinping and EU Officials Seek to Ease Economic Tensions at Beijing Summit | W Looting, Other Crimes Break Out in Southern Gaza as Israel Presses Assault | W Industries & companies Banks: Big Banks Need More Out of Wall Street | W Consumer: Amazon tests grocery subscription service for Prime members | C Pharma: Biden administration asserts power to seize drug patents | C Retail: National Retail Federation walks back key organized retail crime claim | C Corporate finance Exxon CEO dismisses worries FTC could hold up Pioneer deal | C Climate U.S. gives final nod to Rhode Island’s $1.5 billion offshore wind farm | C Artificial Intelligence Google stock up after company announces Gemini AI model | C

December 06 (Wednesday) Latest Morning Briefing Executive Summary: Over There & Over Here Europe’s economic outlook is brightening, Melissa reports, perhaps presenting investment opportunities. The ECB’s monetary tightening has corralled inflation but also trampled GDP growth; this spring may bring monetary easing that enables revived growth. … Earlier fears of inadequate energy supplies for winter now appear ill-founded. … However, challenges remain in the form of higher energy costs and discord among EU nations over fiscal rules. … Also: Joe notes that the stock market’s post-October 27 rally has taken a turn for the broader since November 13, with more sectors participating in gains and the S&P 500 Value and Equal Weight indexes way outperforming their counterparts. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on December 4. Markets S&P 500 Erases ADP-Fueled Gains as Oil Tumbles | B The Price Is Right for Indian Stocks | W Energy U.S. crude drops below $70 per barrel, gas prices fall to 11-month low | C Oil Prices: How Russia Punched an $11 Billion Hole in West’s Sanctions Regime | B Europe’s Gas Prices Could Fall Further Next Year on Subdued Demand, Ample Inventories | W Central banks Deflating ‘QT cushion’ may have raised red Fed flag | R Fed can slash rates and still be ‘higher for longer’ | R Fed’s Barr Wants Banks Using Discount Window for Liquidity Needs | B US Private payrolls increased by 103,000 in November, below expectations, ADP says | C US Visa Delays To Make Nursing Shortage Worse for Healthcare Industry | B If Trump Weren’t Running, Biden May Have Skipped 2024 Bid: Biden | B China The Chinese Economy Isn’t Doing Nearly as Well as China Says It Is | W Moody’s cuts China’s credit outlook to negative on rising debt risks | C Analyst Who Called Chinese Bank Turmoil Says Trusts Are Next | yahoo.com China starts up world’s first fourth-generation nuclear reactor | R Geopolitics & trade Russia’s Putin meets Saudi crown prince in whirlwind Gulf visit | R Italy tells China it is leaving Belt and Road Initiative | R The U.S. Can Afford a Bigger Military. We Just Can’t Build It. | W Industries & companies Health Care: Senators launch bipartisan probe of private equity’s growing role in U.S. health care | C Restaurants: Searching for CosMc’s: Investors, Consumers Look for Details on New McDonald’s Brand | W Retail: Walmart CEO Doug McMillon talks about deflation | C Corporate finance Rio Tinto Plans $6.2 Billion Investment in Guinea Iron Ore Project | W Artificial Intelligence Google launches its largest and ‘most capable’ AI model, Gemini | C Beyond markets Worrying About Pandemics Is So 2020. Should It Be? | W Taylor Swift tops Time’s (and seemingly everyone else’s) person of the year list | C

December 04 (Monday) Latest Morning Briefing Executive Summary: Ho! Ho! Ho! The stock market’s Santa Claus rally has been turbocharged by a rallying bond market, subsiding inflation, lower oil and gasoline prices—in turn fueling consumers’ purchasing power—diminished fear of the Fed, and China’s economic weakness, which lowers the prices Americans pay for goods imported from there. … Jamie Dimon is right to warn that geopolitical dangers are great, but we don’t ascribe to his view that inflation remains troublesome, the Fed might tighten more, and the consumer’s strength likely isn’t sustainable. We think the economic evidence suggest otherwise on each score. … More good news: The sticky services inflation rates that have concerned the Fed are coming unstuck. … Dr. Ed’s movie review: “The Holdovers” (+). (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on November 27. Markets I Stock Funds Get Back on Their Feet | W 11 Stocks Left Out of the Tech Rally. Some Could Be Buys. | BR Here’s a Complete Rundown of Wall Street’s 2024 Stock Market Predictions | BI The Stocks Investors Are Putting Under the Tree | W Markets II Top Wall Street analysts expect these dividend stocks to enhance total returns | C Bonds Just Had Their Best Rally Since the 1980s. What’s Next. | BR Treasury Bond Euphoria Shifts to Market Debate on Fed Rate Cut Path | B Central banks Is the Fed About to Ease? Key Tests Lie Just Ahead. | BR   US Goods Deflation Is Back. It Could Speed Inflation’s Return to 2%. | W US Payrolls Seen Picking Up After End of UAW Strike: Eco Week | B Jobs Report Preview: Joe Weisenthal Unravels Labor Market Expectations | B   Europe Germany is in a bizarre fiscal mess of its own making | E China China’s Economy Is Shifting. The World Isn’t Ready for It. | BR China Frames ‘One Province, One Policy’ Plan for Financial Risk | B Geopolitics & trade Pentagon aware of attacks claimed by Houthis on ships in Red Sea | R Industries & companies Autos: Why Repairing Your EV Is So Expensive  | W Pharma: Pfizer weight loss pill joins list of obesity drug flops | C Corporate finance Alaska Air to buy Hawaiian Airlines for $1.9 billion | R Climate IMF chief makes the case for carbon pricing at COP28 climate talks | C Al Gore slams COP28 climate summit host UAE, says its emissions soared | R Exxon Mobil CEO urges COP28 climate summit to focus on emissions | C   Artificial Intelligence Meta AI chief Yann LeCun skeptical about AGI, quantum computing | C AI Is in the Hands of Big Tech. EU Regulation Could Help It Stay That Way. | BR Microsoft Stock Is Near a Record High. AI Should Keep the Rally Going. | BR Nvidia Stock Isn’t the Only Way to Play AI. Super Micro and Vertiv Could Be Big Winners. | BR Opinion | Behind China’s Plans to Build AI for the World | PO

December 02 (Saturday) Latest Morning Briefing Executive Summary: MegaCap-8, AI & Gates On Climate Change The MegaCap-8 stocks are approaching their highest collective market capitalization ever, having already hit a record high in terms of their share of the S&P 500’s capitalization. … Also: Jackie discusses Google’s AI initiatives and election-year challenges. … And: Our Disruptive Technologies segment recaps Bill Gates’ practical and innovative approach to climate-related investments as the annual COP28 climate change conference kicks off in the UAE. Three innovations seem particularly promising. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on November 27. Markets Dow Notches Longest Winning Streak Since 2021 | W S&P 500 rises on Friday to close at 2023 high: Live updates | C Money market funds may deliver a surprise tax bill amid higher yields | C Uber shares pop on inclusion in S&P 500 | C Global pension funds now balking at China | R Global Real wages have risen in America and are rebounding in Europe | E A new age of the worker will overturn conventional thinking | E Central banks Fed’s Interest Rate Hikes Are Probably Over, but Officials Are Reluctant to Say So | W Fed Chair Powell calls talk of cutting rates ‘premature’ and says more hikes could happen | C US US manufacturing mired in weakness, economy heading for slowdown | R Is it cheaper to rent or buy property? | E China China’s economy is suffering from long covid | E Europe Germany is in a bizarre fiscal mess of its own making | E Europe’s clean energy boom cuts forward prices to pre-Ukraine invasion levels | R Geopolitics & trade Israel Plans to Kill Hamas Leaders Around the World After War | W Putin seems to be winning the war in Ukraine—for now | E Zelenskyy says ‘new phase of war’ has begun, Hungary to back EU ‘strategic partnership’ | C Narendra Modi is remaking India’s 1.4m strong military | E China is building nuclear reactors faster than any other country | E Industries & companies Cruise Lines: The Startling Economics of the World’s Largest Cruise Ship | W Media: Walmart drops ads on X as Elon Musk fallout grows | C Pharma: Pfizer to discontinue twice-daily version of weight loss pill | C Tech: How Apple makes its own chips for iPhone and Mac, edging out Intel | C Tech: Is This the End of ‘Intel Inside’? | W   Corporate finance Neiman Marcus Rejects $3 Billion Takeover Bid by Saks  | W Amazon buys SpaceX rocket launches for Kuiper satellite internet project | C   Climate What the world must do to tame methane | E Beyond markets Former Supreme Court Justice Sandra Day O’Connor dies | C

December 01 (Friday) Latest Morning Briefing Executive Summary: MegaCap-8, AI & Gates On Climate Change The MegaCap-8 stocks are approaching their highest collective market capitalization ever, having already hit a record high in terms of their share of the S&P 500’s capitalization. … Also: Jackie discusses Google’s AI initiatives and election-year challenges. … And: Our Disruptive Technologies segment recaps Bill Gates’ practical and innovative approach to climate-related investments as the annual COP28 climate change conference kicks off in the UAE. Three innovations seem particularly promising. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on November 27. Markets S&P 500 (SPX) Gained 8.9% This Month, Second-Best November Since 1980 | B Dow Finishes November at 2023 High | W Oil Prices Face Wild Swings With Bot Traders Driving the Market | B U.S. crude declines as skepticism mounts over OPEC+ cuts | C OPEC+ may have played its final card with voluntary crude cuts: Russell | R Foreigners Sell China Stocks For Fourth Month in Record Streak | B Central banks PCE inflation report October 2023: Fed’s favorite gauge rises 0.2%; 3.5% from a year ago | C Inflation’s Cooldown Gives the Fed Leeway | W Fed Officials Shift Tone But Remain Wary of Markets’ Rate Cut Bets | B Fed officials feel rate hikes likely done, but too soon to know | R Eurozone Inflation Fell More Than Expected, Putting ECB Rate Cuts Into View | W US US Consumer Spending, Inflation Slow in Sign of Cooling Economy | B Pending home sales drop to record low | C   China How Huawei Is Helping China Build Up Its Semiconductor Independence | B India India turns to coal as hydro generation falls | R Geopolitics & trade Japan says ‘concerned’ US continues to fly Ospreys despite grounding request | R Industries & companies Autos: Tesla Cybertruck Price Revealed: Starts at Around $61,000 | W Health Care: J&J Hired Thousands of Data Scientists. Will The Strategy Pay Off? | W Media: Meta’s Threads to Launch in Europe in App’s Biggest Expansion Since Debut | W Media: Nelson Peltz’s Trian to seek at least three Disney board seats, sources say | R Pharma: Novo Nordisk sues pharmacies over impure Wegovy, Ozempic dupes | C Tech: Big Tech in 2024: Retail Traders Sell Positions in Apple, Nvidia, Microsoft | B Tech: This tiny country drove 15% of Nvidia’s revenue – here’s why it needs so many chips | C Crypto U.S. Treasury lobbies for more power to chase crypto crime outside America | C Coinbase jumps in November as FTX, Binance founders brace for prison | C Corporate finance Biotech stocks jump on AbbVie deal to buy cancer drugmaker ImmunoGen | C   Climate Why No One Wants to Pay for the Green Transition | W Germany Gets Honest About What Net Zero Will Cost | W Artificial Intelligence OpenAI tender offer on track despite leadership fracas: sources | C Retailers Are Turning to AI to Get Smarter About Inventory | W US compels Saudi fund to exit Altman-backed AI chip startup | B News | R Beyond markets New York’s Near Zombie Apocalypse | W