Sources: Bloomberg, Reuters, Wall Street Journal, Barron’s, Times, Nikkei Asia, TechCrunch, SCMP

Tweets

Apr 7 2022

Retail Walmart announced that it will raise the salaries for its truck drivers. Drivers can earn up to $110,000 in their first year. according to the Bureau of Labor Statistics, average salary of a long haul driver last year was $52,240. The company is planning to hire more than 50,000 employees in U.S. by the end of its first fiscal quarter.

Tech Tesla opened its Austin Gigafactory in Texas. The factory will start by producing Tesla Model Y and the large-cell 4680 EV batteries. The company also recently opened the Berlin factory as the Shanghai Gigafactory is shut down due to COVID-19 restrictions.

Apr 6 2022

US The Federal Reserve is expected to start decreasing its balance sheet as early as next month, according to minutes from the central bank’s March policy meeting, which is several months earlier than Wall Street expected. The possibility that the Fed will have to sell part of the $3 trillion in mortgage-backed securities it has acquired over the previous two years is even more hawkish.

Business Berkshire Hathaway now has 11.4% stake in HP, as disclosed in regulatory filings.

Apr 5 2022

**Russia-Ukraine Tension EU** announced further sanctions including banning imports of coal from Russia, cutting some machinery exports, and restricting Russian road and ship carriers coming into Europe. The embargo on Russian coal would be the first time EU members have agreed to halt Russian energy imports.

Tech Twitter appointed Elon Musk to the Board of Directors after he disclosed his 9.1% stake in the social media company. Musk is now the biggest stockholder of Twitter, owning 73,115,038 shares.

Amazon plans to launch more than 3000 satellites into low orbit over the next five years, competing with SpaceX to establish constellation that would beam high-speed internet back to Earth.

Business JetBlue makes an all-cash offer to buy Spirit Airlines. The company is competing with Frontier Group Holdings to buy the ultra-low-cost Spirit Airlines.

US The White House released the latest statement on effort to deal with Long COVID.

Energy Exxon Mobil, Chevron, BP, and three other oil firms are scheduled to testify before the House Energy and Commerce Committee this morning. They have to respond to concerns about alleged price gouging at the gas pump, where customers are paying near-record prices while oil giants benefit handsomely.

Feb 18 2022

Economy US home sales rose 6.7% last month as mortgage rates climbed and inventory reached record-low.

Officials from Federal Reserve rebuffed the notion of raising interest rates next month with an even larger 0.5% rate hike.

Commodities Pioneer Natural Resources Co., Continental Resources Inc., and Devon Energy Corp all reported highest annual profits in more than 10 years for 2021, but they plan to limit oil production growth this year. Oil prices are near $100 per barrel, which will be the first time since 2014.