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Saudi Sports Investments Draw Federal Scrutiny
Middle East sovereign wealth funds are eyeing sports franchises in the US, where a slew of potential mergers and acquisitions has positioned counties, such as Saudi Arabia and Qatar, as major players. It has also raised concerns about “sportswashing” among Congressional leaders.
AI Valuations Show VC Bubble
Artificial Intelligence start-ups are attracting billions of dollars in seed money as investors try to position themselves for what some are calling the next Industrial Revolution given the impact Generative AI may have on labor productivity and global gross domestic product growth.
Softbank Cuts Staff Amid "IRL" Scandal
Softbank's (under)performance is finally catching up to its grandiose ambitions. After five straight quarters of losses in its Vision Fund investment arm, the multinational investment holding company could lay off as many as 30% of its staff.
Banking Groups React To Barr's Proposed Regulations
Fed Vice Chair for Supervision Michael Barr said Tuesday that he plans to pursue multiple regulatory initiatives that would direct larger banks with more than $100 billion in assets to hold more in reserve, saying the recent bank failures underlined the need for regulators to bolster resilience in the system.
Communities Push Back Against Dollar Store Boom
In a report published by the Institute for Local Self-Reliance, researchers said more than 70 cities and towns have already blocked new projects from chain dollar stores and 50 cities have enacted laws to limit the discount retailers' plans for expansion.
Asset Managers Publish Mid Year Outlooks
Financial institutions have published their mid-year outlooks after the first six months of 2023. Despite significant hiccups like the regional banking crisis and more rate hikes, markets performed reasonably well, rising over 15% since Q4 2022 lows.
Subprime Lenders In Hot Water As Dealerships Close
This year, US consumers have fallen behind on their personal loan and credit card payments at the highest rates since 2010. Americans took out a record 87.5 million in new credit cards and 22.1 million in personal loans in 2022, according to a report from TransUnion.