What I Am Reading

July 12 (Wednesday) Latest Morning Briefing Executive Summary: Sunny Or Cloudy Earnings Season? We see reasons for optimism that upcoming inflation releases and Q2 earnings news will please stock investors. We expect to learn that inflation continues to moderate in response to monetary policy that’s restrictive enough. And we expect Q2 earnings to be less bad than analysts are predicting. That’s because analysts’ estimates usually are too pessimistic at the start of reporting seasons and because the macroeconomic backdrop likely provided good revenue and earnings support. We look at some of the macro influences on specific industries. … And: Joe examines analysts’ ever-changing earnings growth expectations through various lenses—by index, sector, and in the context of historical trends. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on July 10. Markets Nasdaq Rebalance: Why the Big Six Like Nvidia and Apple Needed Kneecapping | B Why U.S. Equities Have Beaten International Equities Since 2010 | Morningstar China’s Reopening Trade Is Fizzling Out | W Saudi Arabia Public Investment Fund Reports $11 Billion Investment Loss for 2022 | B Commodities Energy sector driving demand for lithium, other critical minerals: IEA | C Big Automakers Grab $1 Billion Deal for Urgently Needed Battery Metals | W US CPI Report Shows Inflation Eased to 3% in June | W Inflation Is Likely Lowest Since Early 2021—but Still Too Hot for Fed | W Measure It Differently, and Inflation Is Behind Us | W It’s All About Housing: Rental Inflation and Its Measurement Play an Outsize Role in the Consumer Price Index | Center for American Progress Credit Scores Went Up in Pandemic. Now, More Borrowers Are Slipping. | W Bidenomics: Chinese Capitalism With American Characteristics | W Geopolitics & trade EU and U.S. agree new data sharing deal: What is it and why it matters | C Despite Yellen, U.S.-China Decoupling Has Momentum of Its Own | W U.S. Government Emails Hacked in Suspected Chinese Espionage Campaign | W Ukraine’s Zelensky Tells NATO Not to Replace Membership With Security Guarantees | W North Korea Launches Suspected Long-Range Missile | W Japan Is Ready and Able to Maintain U.S. Naval Vessels | W Industries & companies Autos: UAW opens auto contract negotiating with GM, Ford and Stellantis | C Consumer: Amazon Prime Day is a made-up holiday to trick people into shopping | Vox Financials: Goldman Breaks Own Rule to Flag Results Much Worse Than Rivals | B Media: Google, Meta got data from tax prep firms, lawmakers call for probe | C Tech: Lina Khan Is Taking on the World’s Biggest Tech Companies—and Losing | W Corporate finance Microsoft Can Close Its $75 Billion Buy of Activision Blizzard, Judge Rules | W Illumina hit with record EU fine over Grail deal | C Why Private Equity Is Chasing Plumbers and Lumber Yards | B Technology Chipotle tests robot to prepare avocados for guacamole | C ChatGPT, AI Boom Makes Political Dirty Tricks Easier and Cheaper | B Climate Antarctic sea ice has been at record low levels for months | C Beyond markets Wall Street Is Fighting the Non-Compete Ban in New York | B Shopify Shames Workers With a $1,600 Price Tag for Pointless Meetings | B America Has Shortage of Key Lead-Poisoning Drug | W AT&T and Verizon Knew About Toxic Lead Cables—and Did Little | W

July 11 (Tuesday) Latest Morning Briefing Executive Summary: Stay Home Or Go Global? Global stock markets have climbed a wall of worry impressively this year despite all the global headwinds—including lackluster GDP growth, high inflation, and the tightening of many central banks’ monetary policies—as well as regional headwinds in Europe and China. The markets’ resilience may reflect investors’ relief that worst-case scenarios didn’t pan out. … Japan’s stock market is a case in point. It’s been soaring despite investors’ uncertainty over the BOJ’s next move. Will this holdout among central banks at long last lift its ultra-easy monetary policy and adjust its yield curve control program accordingly? (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on July 10. Markets Major Stock Indexes Rise Despite Declines in Tech Shares | W Five Ways the Bull Market Makes Investors Nervous | W Column: Oil investors less bearish after Saudi output cut extended | R Central banks Fed plans to boost US banks’ reserve requirements; industry gripes | R Higher Interest Rates Are Needed to Reach 2% Inflation Goal, Fed Officials Say | B US Home prices hit new highs, driven by tighter supply | C Wave of Rental Resets to Further Deplete Affordable Housing | W As Goes Long Island, So Goes America’s Housing Crisis | B Chocolate Buying to Hit $26 Billion This Year Despite Higher Prices, Low Volume | B Americans spend $91 on Amazon monthly: These 10 states spend the most | C China Deflation Looms in China as Rebound Loses Steam | W In China, the Era of Western Carmakers Is Over | W Geopolitics & trade Europe’s Defense Dilemma: To Buy, or Not to Buy American | W EU Approves Data-Transfer Deal With U.S., Averting Potential Halt in Flows | W Turkey gives green light to Swedish NATO membership bid | R Janet Yellen’s Trip to China: 3 Takeaways | N Industries & companies Banks: America’s Biggest Banks Are Going to Need More Capital | W Banks: American banks face more pain, huge shift | C Media: Meta’s Twitter rival Threads surges to 100 million users faster than ChatGPT | R Media: AMC has sold 20,000 ‘Barbie’ and ‘Oppenheimer’ double feature tickets | C Restaurants: Cava Stock Compared to Chipotle (CMG) by Bullish Analysts | B Theme Parks: Disney World Crowds Get Surprisingly Thin This Summer | W Wireless: Selling Your Cellphone Location Data Might Soon Be Banned in U.S. for First Time | W Technology To Drive AI, Chip Makers Stack ‘Chiplets’ Like Lego Blocks | W

July 10 (Monday) Latest Morning Briefing Executive Summary: Fully Employed June’s newly released employment report gives us clues about June’s not-yet-released CEI, and the CEI closely tracks GDP. So from the employment report, we extrapolate that June’s CEI will likely confirm that real GDP grew around 2.0% y/y during Q2, close to the Atlanta Fed’s current prediction (2.1%). A recession is still possible if the Fed keeps tightening, but we see just a 25% chance of a hard landing. … Also: A look at our resilient labor market. Wage inflation continues to moderate, but wages adjusted for inflation have resumed their growth trend—suggesting revived productivity growth. … And: Dr. Ed reviews “The Diplomat” (+ +). (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on July 3. Markets A Soft Corporate-Earnings Season Poses Next Test for Stock Market Rally | W 14 Charts On New Bull Market for Stocks, Mixed Returns for Bonds in Q2 | Morningstar Recharged Bond Rout Unnerves Investors | W Central banks Column: When the Fed stops, keep calm and carry on buying stocks | R Jobs Report Keeps Fed on Track to Raise Rates in July | W French central bank head warns against raising ECB inflation target | R Commodities Copper is unexpectedly getting cheaper | E The world needs more battery metals. Time to mine the seabed | E Column: Europe’s gas storage is filling too fast | R Global Economists draw swords over how to fix inflation | E Can anything pop the everything bubble? | E “Greedflation” is a nonsense idea | E   US Last Mile of the Inflation Fight Will Be the Hardest | W Biden’s Dilemma: Fight Inflation or Protect Unions? | W China China sets wide-ranging rules for $2.9 trillion in private investment funds | R A Trillion-Dollar Opportunity: China’s Pivot to the Middle East Set to Fuel Investment Boom | W China’s Communist Party is tightening its grip in businesses | E   Geopolitics & trade China’s message to the global south | E Why China should be friendlier to its neighbours | E Janet Yellen comments on U.S.-China relations during Beijing visit | C Biden is heading to Europe. A king and a war are on his agenda | C Industries & companies Autos: Unsold electric cars are piling up on dealer lots | AXIOS Banks: Banks’ Newest Fed Headache: Nonstop Instant Payments | W Consumer: Shein Takes on Amazon in the Business of Selling Everything | W Media: Meta’s Twitter rival Threads explodes to 70 million signups | C Climate Global temperatures have broken records three times in a week | E Hottest Days Ever? Don’t Believe It | W America Is Wrapped in Miles of Toxic Lead Cables | W Beyond markets Elon Musk Is Making Mark Zuckerberg Seem Cool Again | W

July 08 (Saturday) Latest Morning Briefing Executive Summary: Getting Harder To Be A Contrarian Since last summer, when conventional wisdom held that a recession was coming, we argued that one was already going on, rolling through the economy in stages instead of walloping it all at once. Now that the consensus view is moving toward no recession coming after all, and relieved investors have driven the stock market higher, our contrarian instincts are on high alert. The no-show recession could still show up, and we are on the lookout. … Today we revisit the main reasons that some respected observers still expect a recession, and we weigh in on each. The upshot: We’re not changing our (recently raised) subjective odds of a soft landing, at 75%, for now. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on July 3. Markets Stocks tumble on Friday, notching weekly losses, as traders’ rate hike fears return The Best Stock-Fund Managers Over the Past Year? Think AI and Big Tech | W   Central banks Fed’s Goolsbee sees ‘golden path’ to lower inflation without a recession | C Wage Gains, Low Unemployment Keep Pressure on Fed; Hiring Slowed in June, Jobs Report Shows | W US Americans fear a recession may be as severe as 2008. Experts disagree | C Cracks Open in the Labor Market | W Small businesses look for teen workers in competitive summer hiring | C Industries & companies Media: Meta’s Twitter rival Threads explodes to 70 million signups | C Media: Zombie Twitter Has Arrived | MSN Pharma: Alzheimer’s drug Leqembi sales may be slow at first: Analysts | C Technology Robots say they won’t steal jobs, rebel against humans | R How will AI impact my job | QZ Elon Musk’s SpaceX Now Has a ‘De Facto’ Monopoly on Rocket Launches | W Beyond markets Investors Bought Nearly $1 Billion in Land Near a California Air Force Base. Officials Want to Know Who Exactly They Are. | W ‘How Could I Feel Safe?’ Japan’s Dumping of Radioactive Fukushima Water Stirs Fear, Anger | W Elon Musk’s SpaceX Now Has a ‘De Facto’ Monopoly on Rocket Launches | W

July 07 (Friday) Latest Morning Briefing Executive Summary: Getting Harder To Be A Contrarian Since last summer, when conventional wisdom held that a recession was coming, we argued that one was already going on, rolling through the economy in stages instead of walloping it all at once. Now that the consensus view is moving toward no recession coming after all, and relieved investors have driven the stock market higher, our contrarian instincts are on high alert. The no-show recession could still show up, and we are on the lookout. … Today we revisit the main reasons that some respected observers still expect a recession, and we weigh in on each. The upshot: We’re not changing our (recently raised) subjective odds of a soft landing, at 75%, for now. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on July 3. Markets How to navigate market volatility, according to a financial advisor | C U.S. Oil Boom Blunts OPEC’s Pricing Power | W Global The World’s Food Supply Needs to Change | B US Great Job Market Moves Closer to Good | W US job growth slows in June; unemployment rate falls to 3.6% | R US Jobs Report June 2023: 209,000 Jobs Added, Unemployment Rate Falls to 3.6% | B Here’s where the jobs are for June 2023 — in one chart | C Insane: Joe Biden is running on his terrible economic record | P China China Ends Tech Crackdown With Fines on Tencent, Ant Group | B China hits Alibaba affiliate Ant Group hit with $985 million fine | C Geopolitics & trade Yellen Says U.S. Doesn’t Seek ‘Winner Take All’ Fight With China | W Yellen says she’s ‘concerned’ about China’s new export controls in her first public remarks in Beijing | C China Controls Minerals That Run the World—and It Just Fired a Warning Shot at U.S. | W NATO makes membership pledge to Ukraine as Zelenskiy drums up support | R Taiwan Has a Big National-Security Risk: It Imports 97% of Its Energy | W Industries & companies Autos: EV Sales Growth in First Half Slowed From Torrid Pace | W Autos: EV sales: Hyundai overtakes GM, but Tesla’s U.S. dominance continues | C Autos: Mercedes-Benz picks Tesla’s charging standard for North America EVs from 2025 | R Autos: New York State Built Elon Musk a $1 Billion Factory. ‘It Was a Bad Deal.’ | W Autos: Ford Fiesta: End of an era as last Fiesta rolls off production line | C Energy: Analysis: Siemens Energy’s turbine troubles rattle wind sector | R Media: ‘Barbie’ Movie Is About More Than Selling Dolls for Mattel | B Media: Twitter accuses Meta of stealing trade secrets for its new Threads app | C Media: Meta’s Threads app is terrible, and it could actually bury Twitter. | Slate Media: Meta’s Twitter rival Threads surpasses 50 million signups: Screenshots | C Pharma: Japanese pharma Eisai slides despite FDA approval for Alzheimer’s drug | C Retail: BuyBuy Baby Stores to Shut Down After Bankruptcy Auction Falters | B Tech: Japan’s Plan to Become a Chipmaking Champ Hinges on This Football-Loving Engineer | W Climate We just had the hottest day ever recorded. This may be the coolest summer of the rest of your life. | Vox PFAS Chemicals Are in Nearly Half of U.S. Tap Water Supply, Study Says | W

July 06 (Thursday) Latest Morning Briefing Executive Summary: Getting Harder To Be A Contrarian Since last summer, when conventional wisdom held that a recession was coming, we argued that one was already going on, rolling through the economy in stages instead of walloping it all at once. Now that the consensus view is moving toward no recession coming after all, and relieved investors have driven the stock market higher, our contrarian instincts are on high alert. The no-show recession could still show up, and we are on the lookout. … Today we revisit the main reasons that some respected observers still expect a recession, and we weigh in on each. The upshot: We’re not changing our (recently raised) subjective odds of a soft landing, at 75%, for now. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on July 3. Markets Stocks, Bonds Tumble on ‘Off the Charts’ Jobs Data: Markets Wrap | B Commodities Column: Europe adds aluminum to its critical raw materials list | R Factbox: Companies respond to China’s curbs on gallium and germanium exports | R Column: China imports more LNG but not enough to drive spot prices | R Central Banks Fed’s Lorie Logan Says More Rate Hikes Needed to Slow Hot Inflation | B Some Fed Officials Supported Raising Rates in June | W US I US Job Market Shows Fresh Strength With ADP, Jobless Claims Data | B ADP jobs report: Private sector added 497,000 workers in June | C US layoffs fall to seven-month low in June, report says | R US Job Market Clues Seen in Drop in Employee Hours Worked | B Americans Have Quit Quitting Their Jobs | W US II U.S. Is Top Investment Destination Despite Falling Inflows | W Mortgage demand drops as interest rates rise | C As Greedflation Starts to Fade, Wageflation Creeps In | W Bidenomics Spin vs. Economic Reality: Americans Poorer Today | National Review Opinion | America Is Living on Borrowed Money | N Europe BOE could hike interest rates to 7% in ‘some scenarios’: JPMorgan | C Geopolitics & trade U.S.’s Yellen begins China visit with both sides locked in confrontation | R U.S. and China Look to Repair Ties, Again | W US Needs to Solve Its Skilled Worker Shortage to Compete With China | B Wagner Chief Yevgeny Prigozhin Is in Russia Now, Belarus Leader Lukashenko Says | B Russia Gas Giant Warns of Sanctions Risk for Ukraine Energy Firm | B Industries & companies Banks: Everyone Wants Interest on Their Deposits. That’s Bad for Main Street Banks. | W Media: What Are Threads on Instagram: New Twitter Rival Launches | B Tech: AI Boom Stems Tech’s Downturn | W Crypto Who is Daniel Friedberg? FTX Lawyer Is Caught Up in Crypto Firm’s Fallout | B Climate Global Atmosphere, Ocean Temperatures Break Records in June | W Beyond markets Are We Finally Heading Toward ESG Sanity? I&I

July 05 (Wednesday) Latest Morning Briefing Executive Summary: Rolling Recovery Instead of the economywide recession that was widely expected to result from the Fed’s monetary tightening, recessionary weakness rolled through different areas of the economy at different times. Now that rolling recession is turning into a rolling recovery. Accordingly, we’re raising our Q2 real GDP forecast from 1.0% to 2.0%, followed by 2.0% in Q3 and Q4. We now see a 75% chance of a soft landing (up from 70%)—subject to change depending on what the Fed does, which depends on what inflation does. … We expect inflation to continue to moderate, with a headline PCED rate closer 3.0% by year-end, down from 4.6% in May. … And: Dr. Ed reviews “Ghosts of Beirut” (+ + +). (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on July 4. Markets Column: Broadening horizons – deceptive breadth of equity rally | R ‘Bad Breadth’ is the latest ridiculous reason naysayers insist stocks are doomed | P What Is the Average Stock Market Return? | Investing | U.S. News Column: Old economy drags base metals lower in first half of 2023 | R Credit Leverage Is Creeping Back Into Corporate Credit, Citi Warns | B Markets Ignore the Looming Debt Peril | W Subprime Auto Bondholders Face Potential Hit as Delinquencies Rise | B Energy Saudi energy minister says Riyadh-Moscow oil cuts showed unity with Russia | C Aramco chief blames recessionary signals for oil drop | C Column: German electricity generation still stunted despite lower prices | R Central banks Fed meeting minutes to offer clues on future rate hike appetite | R China’s Weakening Currency Is Becoming a Headache for Its Central Bank | W US The Richcession Keeps Rolling | W America’s Retirees Are Investing More Like 30-Year-Olds | W Bidenomics Puts the Middle Class Front-and-Center for 2024 Presidential Election | B Insight: Swing state Republicans bleed donors and cash over Trump’s false election claims | R Geopolitics & trade China’s chipmaking export curbs ‘just a start’, Beijing adviser warns before Yellen visit | R China’s Export Curb on Chip-Making Metals Prompt Countries to Explore Supply-Chain Diversification | W China unexpectedly cancels top EU diplomat’s Beijing visit | C Chinese state media rebuke Mark Zuckerberg over Quest headset plans | C Taiwan’s Impossible Choice: Be Ukraine or Hong Kong | W Industries & companies Airlines: Why airline stocks are up even as disruptions mount | C Autos: Auto Sales Defy Gloomy Forecasts | W Autos: How China Came to Dominate the World’s Largest Nickel Source for Electric Cars | W Autos: Here’s Another Reason To Hate EVs | Issues & Insights Banks: Rebound in Rates Puts Pressure on Banks | W Logistics: UPS Drivers Head Toward Possible Strike as Labor Talks Stall | B Media: 2023 movie box office needs strong second half after inconsistent start | C Climate Climate crisis: World registers hottest day since records began | C Renewable energy: How solar and wind are saving Texas from record heat | The Week Technology New York City Starts to Regulate AI Used in Hiring Tools | W Beyond markets Major League Pickleball names new CEO, COO | C Remote Work Sticks for All Kinds of Jobs | W

July 03 (Monday) Latest Morning Briefing Executive Summary: Rolling Recovery Instead of the economywide recession that was widely expected to result from the Fed’s monetary tightening, recessionary weakness rolled through different areas of the economy at different times. Now that rolling recession is turning into a rolling recovery. Accordingly, we’re raising our Q2 real GDP forecast from 1.0% to 2.0%, followed by 2.0% in Q3 and Q4. We now see a 75% chance of a soft landing (up from 70%)—subject to change depending on what the Fed does, which depends on what inflation does. … We expect inflation to continue to moderate, with a headline PCED rate closer 3.0% by year-end, down from 4.6% in May. … And: Dr. Ed reviews “Ghosts of Beirut” (+ + +). (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on June 20 Markets Falling Gas Prices Fuel Expectations for Record Holiday Travel | W Oil rallies on Saudi and Russian supply cuts for August | R Oil giants drill deep as profits trump climate concerns | R Central banks Column: Dulled interest rate ‘pain’ nudging peaks higher | R   US Labor Market Headfake? Key Report Could Be Overestimating Job Growth | W Biden’s reckless, broken promise on college debt | The Hill Thousands of Southern California hotel workers begin strike | C Europe The European Hot Spots Struggling With the Tourist Masses | W   Geopolitics & trade EU, Japan look to partner on A.I., chips amid China ‘de-risking’ push | C Weaker China offers opportunities to US and allies | R U.S., China Start Talking Again, With Global Economic Order at Stake | W Is India the next China? Fund manager says he prefers India | C What Makes Putin and the World’s Autocrats So Resilient? | W Putin’s Corporate Takeover of Wagner Has Begun | W   Industries & companies Autos: Why it’s nearly impossible to find a car for less than $30,000 | C Media: Elon Musk says Twitter will temporarily limit number of posts users can view per day, citing ‘system manipulation’ | C Technology What Will AI Do to Your Job? Take a Look at What It’s Already Doing to Coders | W Opinion | The True Threat of Artificial Intelligence | N SoftBank Spent $140 Billion on AI With Little to Show. Now It Is Trying Again. | W Climate Siemens Energy wind turbine problems could be an industry-wide issue | C Joe Biden’s $400 Billion Man | W Beyond markets Departing CDC Director Rochelle Walensky Warns of Politicized Science | W How to Succeed in Business Like Taylor Swift | W

July 01 (Saturday) Latest Morning Briefing Executive Summary: Brokers, Earnings & Green Steel Is capital markets activity finally picking up? In Jefferies Financial’s recent earnings call, Jackie found reasons to suspect so, including a 16% q/q surge in advisory and underwriting business. Moreover, the IPO market appears to be reviving, and analysts see good earnings growth next year for the S&P 500 Investment Banking & Brokerage industry. … Also: A look at which S&P 500 sectors and industries analysts expect to grow earnings the most and least this year and next. Notably, the Consumer Discretionary and Communication Services sectors top the list for both years. … And: Companies stepping up to the challenge and opportunities of producing green steel. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on June 20 Markets S&P 500 rises on Friday to close out big first half, Nasdaq posts best start to a year in 4 decades | C Central banks China’s Central Bank Appoints New Top Communist Party Official | W US America’s Hot Labor Market Fuels Job Growth in Unexpected Places | W Why It’s Impossible to Get Your Car Repaired This Summer | W ‘Bidenomics’ is a record of failure | P That Other Bidenomics Disaster | W Supreme Court strikes down Biden’s student loan forgiveness plan | C Europe Interest Rates Cause a Water Crisis | W Geopolitics & trade Ukraine’s Zelenskiy says ‘serious threat’ remains at Zaporizhzhia nuclear plant | R Japan says Russian warships spotted near Taiwan, Okinawa islands | R Industries & companies Autos: Why the EV boom could put a major strain on our power grid | C Autos: Ford Super Duty trucks get high-tech features | C Financials: Goldman Is Looking for a Way Out of Its Partnership With Apple | W Financials: JPM, WFC, MS boost bank dividends after Fed stress test | C Media: 10 highest-grossing movies of 2023, from ‘Mario’ to ‘Spider-Man’ | C

June 30 (Friday) Latest Morning Briefing Executive Summary: Brokers, Earnings & Green Steel Is capital markets activity finally picking up? In Jefferies Financial’s recent earnings call, Jackie found reasons to suspect so, including a 16% q/q surge in advisory and underwriting business. Moreover, the IPO market appears to be reviving, and analysts see good earnings growth next year for the S&P 500 Investment Banking & Brokerage industry. … Also: A look at which S&P 500 sectors and industries analysts expect to grow earnings the most and least this year and next. Notably, the Consumer Discretionary and Communication Services sectors top the list for both years. … And: Companies stepping up to the challenge and opportunities of producing green steel. (subscribers’ link) YRI Daily Markets Overview Replay of Dr. Ed’s webinar on June 20 Markets Markets’ Monster 2023 Rally Defied All Expectations | W Most investors believe we are in a new bull market and there will be no recession in 2023 | C Wall St rallies as Apple hits record high, inflation cools | R Treasury Yields Resume Climb as Investors Bet on Growth | W Apple’s Market Cap Touches $3 Trillion | W   Central banks A rebellion at the Federal Reserve — can it avoid the next bank collapse? | The Hill US U.S. Economy Shows Surprising Vigor in First Half of 2023 | W Consumer Spending Streak Extended in May, Inflation Cooled | W PCE inflation May 2023: Key Fed measure shows prices rose just 0.3% in May | C House hunting is about to get harder | C Supreme Court strikes down Biden’s student loan forgiveness plan | C China China’s Economy Shows New Signs of Weakness | W Geopolitics & trade New Chinese Law Raises Risks for American Firms in China, U.S. Officials Say | W French Riots Escalate as Macron Struggles to Respond | W Industries & companies Airlines: Delayed or canceled flights? Get ready for a bumpy summer travel season. | Vox Energy: Shell’s renewables boss to leave after CEO strategy shift | R Financials: SVB Depositors Who Lost Their Money Win Court Victory | W Pharma: Stop taking Ozempic, Wegovy before surgery: Doctors | C Real Estate: How Scared Should You Be About Commercial Real Estate? | W Tech: Big Tech’s Battle Royale Is Coming. The Winner? You. | W Technology AI Law Draws Pushback From Big Brands in Europe | W Climate Climate nears point of no return as land, sea temperatures break records, experts say | R