September 6, 2023

Markets Now

Bill Gates made a nearly $100 million bet on Bud Light

Bud Light’s parent company is having a miserable year. But there’s at least one prominent investor who believes in Anheuser-Busch: Bill Gates.  
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Trump's Truth Social merger partner granted key extension to avoid liquidation

Digital World Acquisition Corp., the blank-check firm seeking to merge with former President Donald Trump’s media company, will get another extension to complete its troubled deal.  
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Roku is laying off 10% of its workforce

Roku stock soared higher on Wednesday after the streaming service announced it would lay off 10% of its workforce — about 300 people — in an effort to cut costs.  
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What's going on with China's shadow banking system?

The world’s second biggest economy is in a rut. Chinese households are spending less money, factory production is slowing and businesses are investing at a slower pace than they were last year. Unemployment among the country’s youth has jumped so much that Beijing decided to stop releasing the data. The real estate market is in a downfall with home prices dropping and a number of developers defaulting.  
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Manchester United shares plunge on report the Glazers won't sell

Manchester United shares have plunged more than 19% this week, slashing almost $740 million off the soccer club’s market value, following a UK newspaper report that the club’s US owners would drop an attempt to sell the company, at least for now.  
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Climate change is hurting Six Flags, SeaWorld and Disney World

Over the weekend, intense rain and flooding stranded more than 70,000 people at Burning Man in the Nevada desert. It’s the latest example of how extreme weather, exacerbated by climate change, impacted major North American attractions this summer.  
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Source: CNN Business

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