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Business

Trump’s Truth Social Valued at $5.7 Billion

Per Reuters, Shareholders of Digital World Acquisition Corp (DWAC.O), the special purpose acquisition company (SPAC) that plans to list Trump Media & Technology Group on the stock market through a merger, voted in favor of the deal on Friday.

Trump, the majority shareholder in Truth Social, stake is valued at $3.3 Billion, with the whole company being valued at $5.7 Billion. New York State will likely be closely monitoring the $5.7 billion merger deal involving Trump's Truth Social due to the significant financial implications for Trump amidst ongoing legal challenges, including a substantial judgment in a civil fraud case in New York. Additionally, the deal's completion amid lawsuits and regulatory scrutiny adds layers of interest, given Trump's substantial ownership stake and the company's strategic importance for his communication with supporters.

Upcoming Earnings Insights

Earnings Week Highlights: Diverse Sectors in the Spotlight

The business community is poised for a critical week of earnings reports, with expectations set for insights that could sway market sentiments. This week's roster features an eclectic mix from varied industries, each promising to shed light on different facets of the economic landscape:

• MTN Group Ltd PK (MTNOY): As a telecommunications heavyweight, MTN Group's earnings could offer valuable insights into consumer behavior and market expansion in emerging markets.

• BYD ADR (BYDDY): The electric vehicle titan BYD is likely to be in the limelight, potentially reflecting the growing demand for sustainable transportation solutions.

• Cintas (CTAS): Renowned for supplying corporate uniforms and other business supplies, Cintas' results could indicate corporate spending trends and the broader health of employment sectors.

• Walgreens Boots (WBA): As a barometer for consumer health spending, Walgreens' earnings may reveal trends in pharmaceuticals and retail health services.

• Industrial Commercial Bank of China (IDCBY): The financial performance of one of the world's largest banks will be telling of the economic currents in the finance sector and could give cues about global economic health.

The Takeaway

This week’s earnings are a critical pulse check for various sectors of the global economy. From MTN Group's influence in telecommunications to BYD’s position in the electric vehicle market, Cintas’s reflection of corporate health, Walgreens Boots’s retail health sector outlook, and the Industrial Commercial Bank of China's financial stability, each report contributes a crucial piece to the economic mosaic, offering investors and analysts a comprehensive view of the business world's dynamics.

Powell Holds the Rates Steady

For the 8th month in a row the Fed is not adjusting rates, Fed Chair Jerome Powell said inflation is ‘not far’ from where it needs to be for the central bank to start cutting interest rates.

He also said earlier this week ‘We have at currently well below 30 basis points core PCE, which is not terribly high. So it's not the January number. But I take the two of them together. And I think they haven't really changed the overall story, which is that of inflation moving down gradually on a sometimes bumpy road toward 2%. I don't think that story has changed, I also don't think that those readings added to anyone's confidence that we're moving closer to that point.’

If the fed does start cutting rates, with markets touching record highs this week, then we may be headed into uncharted waters. Coupled with what’s sure to be a tumultuous election season is sure to make for an interesting fall.

Sports

From the Pitch to Pusher

Jamie Cassidy – the Liverpool prodigy who became a cocaine conspirator

A must read courtesy of Simon Hughes at The Athletic. The article tells the story of Jamie Cassidy, a promising footballer for Liverpool, who ended up getting involved in a drug conspiracy with South American cartels. He was sentenced to over 13 years in prison for his role in the crime. Despite not being as deeply involved as his brother Jonathan, who got a longer sentence, Jamie still played a significant part, according to the judge. The article shows how Jamie's life took a drastic turn from sports success to criminal activity, showcasing the complexities of his journey and the remorse he expressed during his sentencing.

March Madness Darling

The March Madness frenzy has a new hero, and his name is Jack Gohlke. As a die-hard basketball enthusiast, witnessing Gohlke's electrifying performance for Oakland University against Kentucky was nothing short of magical. The Golden Grizzlies, seeded at No. 14, pulled off a jaw-dropping upset against the No. 3 seeded Kentucky, and Gohlke was the star of the show.

Gohlke scored a whopping 32 points, sinking an incredible 10 three-pointers. Gohlke's on-court wizardry was simply mind-blowing. His stellar performance not only secured a thrilling victory for Oakland but also catapulted him to instant fame off the court. Within hours, his Instagram following skyrocketed from a modest 500 to an impressive 17,000 followers, showcasing the power of his March Madness heroics.

What makes Gohlke's story even more captivating is his journey to this moment. A redshirt senior at Oakland, he transferred from Division II Hillsdale College, where he honed his skills and emerged as a standout player. His determination and talent shone brightly during the game against Kentucky, where he defied odds with his remarkable shooting prowess.

Lost in Translation

Major League Baseball has launched a formal investigation into the situation involving Los Angeles Dodgers superstar Shohei Ohtani and his former interpreter, Ippei Mizuhara, as reported by ESPN. The league's inquiry comes after reports emerged about at least $4.5 million in wire transfers from Ohtani's bank account to a bookmaking operation under federal investigation, this has lead to Mizuhara's dismissal by the Dodgers.

MLB plans to conduct interviews with all involved parties, including Ohtani and Mizuhara, although Mizuhara's cooperation is voluntary as he no longer works for baseball. Ohtani, as a member of the MLB Players Association, has the right to refuse cooperation, particularly regarding an ongoing criminal investigation. However, MLB has indicated its intent to gather information and address the allegations surrounding the wire transfers and Mizuhara's dismissal.

Fitness/Health

Unlock Peak Performance: The Ultimate 6-Week HIIT Plan for Busy Executives and Entrepreneurs

For executives and entrepreneurs seeking to maintain peak performance, the Ultimate 6-Week HIIT Workout Plan from Muscle & Fitness offers a targeted approach to fitness that can easily fit into a busy schedule. This program emphasizes short, intense workouts that maximize fat burning and muscle building through high-intensity interval training (HIIT). By progressively decreasing rest periods, it challenges your body and promotes rapid improvements in fitness and body composition. 

To complement your fitness routine, consider integrating mindfulness practices into your daily life. Meditation apps provide accessible guided sessions that can enhance focus, reduce stress, and improve decision-making. Prioritizing sleep is also crucial, with 7-9 hours recommended for optimal health and productivity. A consistent sleep schedule and a pre-sleep routine can significantly impact your overall well-being and performance.

Entertainment

Are We Getting a Kick-Ass New Bond?

The rumors are swirling that Aaron Tyler-Johnson is next in line to get his License to Kill. This 33 year old brit would be primed to take up the 007 mantle for years to come. The “Kick-Ass” star has come a long, from nerdy side kick to full blown action star. Taking on super hero roles like Kraven the Hunter and Quick Silver in the Marvel, and Sony/Marvel worlds. As well as holding his own as a hit man opposite Brad Pitt in “Bullet Train”

While I think Aaron Taylor-Johnson would be a great choice, we’re not mad about another potential option that has been floating around for years, Idris Elba. Aged 51, would be a tremendous Bond. We may not get many movies out of him, but they could land him among the greats…

Weekly Commute

Kickstart your day with some must-listen podcasts

• Learn the technical and psychological aspects of investing with Bill Ackman on the Lex Fridman Podcast. Bill Ackman is a prominent investor known for orchestrating some of the most significant and contentious financial transactions ever recorded. He holds the position of founder and CEO at Pershing Square Capital Management.

• Sam Altman serves as the CEO of OpenAI, the organization responsible for developing GPT-4, ChatGPT, Sora, and various other cutting-edge AI technologies. Lex Fridman discusses GPT-5, the Elon Musk Lawsuit and more in a really engaging conversation about the future of AI.

Have You Heard

Max Frost, a style all his own.

If you're yet to discover Max Frost, do yourself a favor and delve into his music. He's recently unleashed six new tracks, merely a taste of what he has to offer. Frost's sound defies easy categorization, straddling multiple genres in a way that's hard to pin down. What's certain, though, is its appeal — there's something in his melodies and rhythms that's irresistibly engaging. Give him a listen; you might find yourself pleasantly surprised by the depth and diversity of his musical talent.