GET READY for this week’s biggest stories

Good morning everyone let’s jump straight into the biggest stories of the week!

Singapore's Economy: Growth, Surprises, and High-Fives Await in 2024!" 🚀

Singapore's economy in 2023 was a bit like a roller coaster – starting strong at 1.2%, then dipping slightly to 1.1%, but still on the growth track! And for 2024, the forecast remains at 1% to 3%, keeping the excitement alive! 💫 In the fourth quarter, growth was a bit lower than expected at 2.2%, but hey, every dip has its bounce!  Looking ahead, the Ministry of Trade and Industry (MTI) is sticking to the plan, forecasting 1% to 3% growth for 2024. 🚀

Global vibes? Things are looking up, especially with the demand for electronics bouncing back. But watch out for trade tensions and conflicts in 2024 – which may be the surprise obstacles in 2024. But wait, there's optimism too! With China injecting loads of money into its economy and the global equities market looking up, there's hope on the horizon! 🌟 Zooming into Singapore's sectors – some had a rough patch, while others shone bright like a diamond! 💎 The finance and insurance sector, for instance, saw a whopping 5.4% growth in Q4.

🌍 Big Asset Managers Bail on Climate Group 📉

Guess what? JPMorgan and State Street, two financial big shots, are waving goodbye to Climate Action 100+! Even BlackRock, the heavyweight champion of asset management, is taking a step back, leaving the climate crusade. 😔

Now, with the top dogs not fully on board, there's a split between US and European firms on climate action. It's like a tug-of-war over the planet's future! Climate Action 100+ was all about getting companies to clean up their act, but some members like SSGA and BlackRock feel the rules are too strict. They're saying, "Hold up! We've got laws to follow, folks!" JPMorgan's feeling pretty confident, though. They're like, "We'll do our own thing, thank you very much!"

But hey, Climate Action 100+ isn't backing down! They've still got over 700 members, ready to fight the good fight. But watch out—some US lawmakers and states aren't happy campers. They see the group as anti-fossil fuels. 🛢️As the financial world juggles sustainability and politics, these exits show just how tricky it can be for big players to tackle climate change. 🌎

📰 Independent Takes Charge of BuzzFeed & HuffPost UK!

Guess what? The Independent, a British media group, is swooping in to take control of BuzzFeed and HuffPost UK! 🇬🇧 The Independent is like the cool older sibling stepping up to guide the local operations of BuzzFeed in the UK, including popular brands like HuffPost UK, Seasoned, and Tasty. It's a match made in media heaven! 🎬

But wait, there's more! The Independent isn't just taking the wheel—it's also getting a boost from BuzzFeed, which will still provide global content and tech support. Now, why all the buzz? Well, when news of this epic team-up hit, BuzzFeed's shares skyrocketed by over 50%! And here's the juicy scoop: while media groups everywhere are feeling the pinch with Google ditching third-party cookies, The Independent and BuzzFeed are teaming up to offer advertisers access to a larger-than-life audience of Gen Z and millennials. It's like hitting the advertising jackpot!

But hold onto your seats because there's even more excitement in store! With this partnership, The Independent isn't just stopping at traditional media. Nope, they're diving headfirst into the world of e-commerce, events, audio, and beyond! It's like they're reinventing the media game right before our eyes! 📺

Oopsie-Daisy! UK Economy Takes a Dip! : A Technical Recession
📉

Oh no, folks! The UK's economy hit a snag in the second half of 2023, throwing a curveball at Prime Minister Rishi Sunak's plans. 🙈 According to the Office for National Statistics (ONS), the Gross Domestic Product (GDP) dropped by 0.3% in the fourth quarter, more than economists expected. Surprise, surprise! 😱

Now, what's this "technical recession" jazz? It's when the economy shrinks for two quarters in a row. But hey, don't sweat it—these dips were small, more like a sluggish crawl than a full-blown crisis. Phew! And guess what? The pound took a little nosedive against the US dollar after this news broke. Talk about a wild ride!

With a general election looming, you can bet the opposition will pounce on this, wagging their fingers at the government's economic fumbles. And to top it off, the Tories are bracing for a rough ride in special elections. Cue the political drama! Sunak had big dreams for turbocharging the economy, but alas, the numbers tell a different tale. GDP in Q4 took a hit compared to the previous year, and overall growth in 2023 was just a teeny-tiny 0.1%. Ouchie! 😬

Zuckerberg's Verdict: Quest 3 Reigns Supreme Over Apple's Vision Pro! 🍏

Zuckerberg, the brain behind Meta, takes on Apple's latest VR creation: the Vision Pro! In a dramatic turn of events, Zuckerberg himself stepped into the ring as a tech-gadget reviewer, sharing his thoughts on Instagram. And guess what? He's not holding back!

According to Zuck, Meta's Quest 3 is not just a better value (starting at $500 compared to Vision Pro's hefty $3,500 price tag), but it's also simply superior in every way. But wait, there's more! In his Insta video, Zuck flaunted Quest 3's comfort, wider field of view, and brighter display. He even threw some shade at Apple, claiming they made too many sacrifices to achieve higher resolution. Ouch! 😎

But what about Vision Pro's features, you ask? Ultra-high-resolution displays, immersive entertainment experiences, and 180-degree 8K recordings with Spatial Audio. Sounds impressive, right? This clash of the tech titans isn't new. Zuckerberg has been trash-talking Apple's headset since it was just a whisper in the wind. But now, with the battle heating up, it's anyone's game! 🔥

Senator Rubio Throws Fashion Curveball: Shein's IPO Plans in Peril!😬

Marco Rubio, a big-shot Senator, is stirring up trouble for Shein, the online fashion hotspot. He's telling the Securities and Exchange Commission (SEC) to hit the brakes on Shein's plan to go public in New York. 🚦 Why? Rubio thinks there's a lot of mystery swirling around Shein's operations in China. 🇨🇳

In a letter to the SEC, Rubio said, "Whoa, hold up!" He's concerned Shein isn't spilling the tea about the risks of doing business in China. Remember when some lawmakers wanted to block Shein's IPO last year? Rubio's joining the party, saying, "Count me in!" Rubio's got some demands: Shein needs to come clean about where their clothes are coming from. Are they using questionable cotton from Xinjiang? And what about those sneaky $800 packages Shein ships out? Rubio wants answers!

Shein's keeping quiet for now, but Rubio's not giving up. He says if Shein wants a piece of the U.S. stock market, they better play by American rules. Looks like Shein's IPO plans just hit a speed bump, and Rubio's driving the bus! 🚌

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Lyft's Investor Relations Mix-Up Sends Stocks Soaring—But What's the Real Story?" 🚀🤔

Well, Lyft's investor relations (IR) department is in the spotlight for all the wrong reasons! 😅 So, after the closing bell, Lyft—a ridesharing champ—announced its fourth-quarter results. They were okay, nothing mind-blowing. But guess what? The stock went wild and shot up by a whopping 60%! 🚀

People were scratching their heads: Did Lyft discover a secret to curing rare diseases? Are they suddenly diving into crypto or making superchips? What's the big deal? Well, turns out there was a little hiccup in the press release. A teeny tiny typo made it seem like Lyft was about to boost its profits by 500% more than last year! Whoopsie!

Naturally, investors went nuts and started buying Lyft shares like crazy, thinking they'd struck gold. But alas, it was too good to be true. During their earnings call, Lyft's money guy admitted the error. The real increase was only 50%, not 500%. 😬 Stocks dived that bombshell, but hey, they still ended up 20% higher than before. Phew! But let's not forget: despite the drama, Lyft's earnings were pretty solid. They beat expectations for earnings per share and matched revenue estimates. Plus, their future bookings look promising! 💰

Tower Semiconductor Sparks Excitement!!!

Meet Tower Semiconductor, an Israeli company making waves in the chip game. They just dropped their latest report, and while their revenue dipped a bit from last year, it still beat analyst expectations! 💪 Plus, their earnings per share, though down, were better than predicted. Go, Tower!

But here's the really exciting part: Tower Semiconductor's bosses are feeling optimistic about the future. They're saying the chip shortage madness might finally be easing up, and they're expecting some sweet growth ahead. 📈 So keep an eye on them—they're aiming for some big wins this year!

But wait, there's more! Another player to watch is Advanced Micro Devices (AMD), which seems poised for a breakout. Traders are itching to see if it'll bounce back after a bit of a slump. 👀

Now, mark your calendars for February 21st, because that's when Nvidia—the big kahuna of the chip world—is dropping their latest earnings report. It's sure to shake things up!