Hand bags and hand grenades

Plus, China exodus continues...

10 Aug

*past 24-hour performance

  • Big fashion tie-up incoming: Coach owner Tapestry (TPR) is in talks to buy Capri Holdings (CPRI), parent of well-known fashion brands Michael Kors, Jimmy Choo and Versace, in what would be one of the biggest tie-ups in the industry in recent years. (WSJ)

  • War preperations: North Korean leader Kim Jong Un replaced the military's top general and called for more preparations for the possibility of war, a boost in weapons production, and expansion of military drills. (Reuters)

  • L’Occitane trading halt on takeover bid: L'Occitane International’s (LCCTF) controlling shareholder is in advanced talks on a potential deal to take the skincare company private at a valuation of around $6.5 billion. (Bloomberg)

  • CPI day: All eyes will be on today’s consumer prices report, which is set to show a second consecutive reading on core inflation in line with the Fed’s target. (Bloomberg)

  • Amazon to anchor Arm IPO: Amazon (AMZN) is in talks about joining other tech companies to be a cornerstone investor in chip designer Arm’s upcoming $8-10 billion IPO. (Investopedia)

  • Disney posts mixed results: Earnings showed that Disney (DIS) was plagued by streaming woes, restructuring costs; company announced Disney+ will soon jump from $10.99 to $13.99 per month for the ad-free plan, with Hulu’s jumping from 14.99 to $17.99 per month. (CNBC)

  • China exodus continues: Dentons, the biggest law firm in the world by employee size, is splitting from its Chinese operations in one of the more significant withdrawals by a Western company as Beijing intensifies a campaign to curb leakages of valuable information. (Bloomberg)

  • Where are the gamers?: Shares of Roblox (RBLX) closed down more than 21% after the company reported Q2 results that missed analysts’ expectations on top and bottom lines. (CNBC)

Paychecks, not portfolios: why income is the key to financial success: What’s the most important thing when it comes to building wealth? Is it what you invest in? Is it when you start? How about your mindset? Nick Maggiulli it’s none of the above. He believes the best predictor of whether someone is likely to build wealth is… their income. Read more »

Mutual fund fees declined by near record amount last year: Investors’ preferences for more affordable funds is driving fund fees lower. Read more »

Data on the financial burden of US households: What would costs have been if rates had not risen? Considering this rough “back of the envelope” calculation, one can argue that household costs of servicing new loans are double what they would have been without recent monetary policy tightening. Read more »

  •  Graphics: Fentanyl is fast, cheap and deadly (Reuters)

  • A major design update is coming to Slack that will roll out over the coming months (Slack)

  • Tech news that moves the market (The Information)**

  • One of Europe’s hottest cities rediscovers an old cooling technique (Bloomberg)

  • Agree to disagree: the topics that America has become increasingly polarized on (Gallup)

  • PayPal's new stablecoin... what's the point? (CoinSnacks)

  • Fast-food customers are giving up on dining in (WSJ)

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