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Global

Iran Strikes Israel, Warns of Further Action; Global Powers Call for Restraint

Iran's recent drone and missile strike against Israeli territory was a response to an alleged Israeli attack on its consulate in Syria, which killed several Revolutionary Guard commanders. This incident escalates long-standing tensions between Iran and Israel, heightening the risk of wider regional conflict. Iran has issued a stern warning of a greater response if Israel or its ally, the United States, retaliates. Meanwhile, Israel has hinted at ongoing military actions, suggesting a potential escalation in its response.

This confrontation is part of a broader context involving numerous fronts in the Middle East, where Iran supports various groups in Lebanon, Syria, Yemen, and Iraq. The situation is complicated by internal pressures within both Iran and Israel, as well as international calls for moderation from global powers like Russia, China, France, and several Arab states. The United Nations Security Council has scheduled a meeting to address the crisis, reflecting global concern over the potential for a significant escalation.

The international community remains watchful as the United States pledges steadfast support for Israel while advocating for a diplomatic resolution to the tensions. The outcome of this situation could have profound implications for regional stability, global diplomatic relations and the economy. Increased instability in the Middle East could lead to fluctuations in oil prices, which can affect global markets, including the United States. Heightened military involvement or support may also lead to increased defense spending, potentially impacting the federal budget and allocations. Economic uncertainty could influence investor confidence, affecting stock markets and the broader economic environment. This situation demonstrates the interconnected nature of global politics and economics. 

The Rich are Getting 2nd Passports

Sometimes Even 3 or 4 passports

Amid global uncertainties, wealthy Americans are looking beyond borders, crafting "passport portfolios" as a safeguard for their future. Not content with relying on the prestige of the U.S. passport alone, they are turning to multiple citizenships as a financial hedge, according to insights from Henley & Partners.

This strategic accumulation of national ties is a response to potential volatility. While America remains a land of opportunity, its affluent citizens are choosing to diversify their allegiances, mirroring their investment strategies. It's not about renouncing U.S. citizenship—prohibitive costs see to that—but about supplementing it with global options.

Portugal and Malta's "Golden Visa" programs are particularly enticing, promising European residency and citizenship in exchange for investment, unlocking a European lifestyle and free movement.

Three drivers fuel this trend: the ease of international travel with alternative passports, enhanced personal safety for business in less stable regions, and the allure of retirement or family connections abroad. This approach is about pragmatism and preparedness, ensuring multiple plans are in place for any eventuality.

Dominic Volek emphasizes that in an unpredictable world, the wealthy are not just seeking a Plan B; they're constructing Plans C and D. It's clear that for the financially fortunate, the idea of 'home' is expanding to encompass a world of possibilities, setting a precedent for others to follow in securing their futures across multiple shores.

Business

Upcoming Earnings Insight

April's Earnings Outlook: Market Pulse Check from Finance to Pharma

This week's earning reports present a significant opportunity for investors to assess the vitality of diverse sectors, gauge financial health, and forecast future performance amidst a changing economic landscape. As we enter the second half of April, market participants are keen to understand the implications of reported figures and strategic plans that will be disclosed. Let's examine the key earnings to watch each day.

• Goldman Sachs (GS): As a barometer for the financial sector, Goldman Sachs' earnings release is highly anticipated. The focus will be on the revenue forecast and management's commentary on investment banking trends, market volatility, and regulatory challenges.

• UnitedHealth (UNH): UnitedHealth's earnings are always a momentous event for investors tracking the healthcare sector. The company's report will offer insights into healthcare spending trends, insurance market dynamics, and the impact of regulatory changes on the industry.

• ASML ADR (ASML): The technology sector will be in the spotlight with ASML's earnings report. This chip-equipment maker's performance is not just indicative of its own growth but also serves as a bellwether for the semiconductor industry's expansion and innovation pace.

• Taiwan Semiconductor (TSM): As the world's leading semiconductor foundry, TSM's earnings have wide-reaching implications for the global tech industry. Investors will be particularly attentive to the company's forward-looking statements in light of recent industry supply dynamics.

• Procter & Gamble (PG): Ending the week, Procter & Gamble's figures will provide valuable insights into consumer goods' performance. As a multinational manufacturer with a diverse product line, PG's earnings could reflect consumer behavior and global economic health.

This Week's Financial Performance Preview

The Takeaway

This week, from Goldman Sachs to Procter & Gamble, the earnings reports will collectively offer insights into the financial, healthcare, technology, semiconductor, and consumer goods sectors, painting a comprehensive picture of the global economy's health and future trajectory. Investors will closely monitor these reports for insights into various sectors, with particular attention to the guidance provided by corporate executives. These earnings not only reflect past performance but are also pivotal in shaping market sentiment and driving investment decisions for the coming quarter.

Stub Hub Set to IPO

The Ticketing Platform Prepares for a Summer Offering

StubHub, a stalwart in the online ticketing market, is reportedly preparing for a summer debut on the stock market, according to a source close to CNBC. The company is targeting a valuation that echoes its late 2021 private funding round—at least $16.5 billion.

For the past couple of years, StubHub has been strategizing its IPO pathway with the financial expertise of JPMorgan and Goldman Sachs, with The Information breaking the story first.

Since its inception in 2000, StubHub has become a familiar name in ticketing. It found its way into eBay's portfolio in 2007 with a $310 million acquisition deal, only to be bought back by its original co-founder, Eric Baker, for a hefty $4 billion via his new enterprise, Viagogo, in 2020.

SeatGeek, another online ticket vendor, is also rumored to be considering a public offering this year. Should StubHub go public, it would be positioned in the market alongside peers such as Vivid Seats, with a market capitalization of $1.2 billion, and Live Nation, currently valued near $24 billion as per FactSet data.

The post-pandemic period has seen a resurgence in the live events sector, with people eagerly returning to in-person entertainment. High-profile tours, like those of Taylor Swift and Beyoncé, have generated record ticket sales, significantly boosting the industry's revenue stream.

In light of the potential IPO, representatives from StubHub, JPMorgan, and Goldman Sachs have refrained from commenting on the timing of the move.

Tech

Tesla cuts Full Self-Driving subscription prices

In a strategic move to strengthen the uptake of its Full Self-Driving (FSD) technology amidst a competitive market and declining demand, Tesla has announced a reduction in the subscription costs for its semi-autonomous driving package in North America. Now, U.S. customers can access the FSD service for $99 monthly, with Canadian users being offered an equivalent rate of C$99, translating to about $71.88.

The shift in pricing reflects a more aggressive push by the electric car giant, as stated in their recent update, to expand its user base for the advanced driving system—a system that Elon Musk has often highlighted as a significant revenue stream for Tesla. Despite Musk’s championing of FSD as the road to fully autonomous driving, the technology has not yet fulfilled this promise, facing ongoing regulatory and legal challenges concerning the safety protocols and promotional claims of Tesla.

Previously available at a higher price point of $199 per month, the FSD feature, as clarified by Tesla, does not render the vehicle fully autonomous and still mandates that drivers remain alert and in control.

Adding to its initiatives to increase accessibility to FSD, Tesla previously extended an offer of a one-month trial to its existing and potential customer base in the U.S., an effort to acquaint more drivers with the capabilities—and limitations—of the advanced driver-assist system.

Sports

Masters - Scheffler Wins Again

Scottie Scheffler secured his second Masters victory in a commanding fashion, solidifying his status as the world's top-ranked golfer. He surged ahead of the competition on Sunday, clinching his second green jacket with a four-stroke lead. Scheffler's final-round 68 at Augusta National marked his ninth career win on the Tour, showcasing his mastery of the course and the event.

Starting the day with a slim one-shot lead, Scheffler faced tough competition from Collin Morikawa, Max Homa, and Masters newcomer Ludvig Aberg. However, Scheffler's performance, including three consecutive birdies at the turn and a strong finish with three more birdies, propelled him to victory. Despite a brief stumble with a bogey, Scheffler maintained a his lead throughout the back nine.

Aberg secured second place with a solid 7-under finish, while Morikawa settled for third at 5-under. Homa tied for fourth with Tommy Fleetwood at 4-under, marking his best performance at a major tournament.

Even though Tiger Woods, making a comeback after a year, struggled and ended with a high score of 16-over for the week, he did reach a significant milestone on Sunday with his 100th competitive round at Augusta National.

The next major is the PGA Championship May 16-19 at Valhalla.

UFC 300 Ignites Vegas

Holloway's Last-Second KO Crowns New BMF Champion in Historic Night!

UFC 300 delivered an electrifying event that lived up to its monumental billing. Here are the highlights:

• BMF Title Fight: Max Holloway captured the BMF title with a jaw-dropping knockout of Justin Gaethje in the final second of Round 5. Holloway's performance earned him a massive $300,000 Performance of the Night bonus, plus an additional Fight of the Night bonus, totaling $600,000 in rewards.

• Title Defenses: Both Alex Pereira and Zhang Weili held on to their titles. Pereira defended his in a striking fashion, overcoming an illegal kick and knocking out Jamahal Hill shortly after, while Zhang secured a unanimous decision victory.

• Other Highlights: Jiri Prochazka also received a Performance of the Night bonus for his second-round TKO against Aleksandr Rakic, marking a significant step towards another title opportunity at light heavyweight.

• Additional Bonuses: UFC President Dana White confirmed that several fighters, including Deiveson Figueiredo, Renato Moicano, Diego Lopes, and Kayla Harrison, would receive undisclosed bonuses for their stoppage victories.

• Other Notable Wins: Arman Tsarukyan won over Charles Oliveira by split decision, Bo Nickal secured a submission against Cody Brundage, and Aljamain Sterling earned a unanimous decision against Calvin Kattar.

The event showcased a mix of stunning knockouts, technical submissions, and closely contested battles, encapsulating the excitement and unpredictability that define MMA.

Link to full article: UFC 300 Full Results on Yahoo Sports.

Entertainment

Weekly Commute

White Horse

Chris Stapleton Delights on SNL

After reminding everyone just how talented he is this past weekend on Saturday Night Live, it feels appropriate to move Chris back to the top of the playlist. His raspy, soulful, bluesy sound makes him one of the country artists that get’s non-country fans approval. Some music just works no matter what your taste, and that’s exactly the type of music he makes.