Weekly Insider: 3 minutes read

Good morning everyone hope you are having a great week so far let’s dive right into the biggest stories this week!

TikTok Turmoil: House Throws Shade 📱

Guess what, folks? Big news for those of you who always claim you're too cool for TikTok! The House just gave a thumbs-up to a bill that could kick TikTok to the curb in a whopping 352–65 vote. Yep, that's right, they're aiming to ban it!

But hold on to your hats, because now it's up to the Senate to give the final verdict. Think of it like TikTok facing off against the toughest judge in the talent show! 🕺 But wait, there's drama! Senate Majority Leader Chuck Schumer is playing it coy about when this bill will hit the Senate floor. Some senators, like Sen. Rand Paul, are worried this ban might cramp our style when it comes to free speech. 🗣️

And if this bill becomes law, over 170 million TikTok fans might need to find a new excuse not to hit the books. Plus, it could be a big blow to the TikTok empire and send creators scrambling to other platforms like Instagram and YouTube. But hold up, TikTok's not going down without a fight! They're shouting from the rooftops that this ban is unfair. 💬

And across the pond in China, they're not happy either. They're accusing the US of trying to crush TikTok. Talk about a plot twist! 🔄 They're accusing the US of trying to squash TikTok. Irony alert: TikTok's banned in China too, although they've got their version, with lots of rules.

Goldman Sachs Faces Gender Disparity Challenges in Leadership 🌟

Goldman Sachs, a bustling metropolis teeming with opportunity and excitement, is akin to a sprawling cityscape awaiting exploration. 🌆 But here's the captivating twist – within this vibrant cityscape, only a select few adventurers are women, and they're encountering hurdles on their path to the pinnacles of success! 😲 Since the vibrant year of 2018, nearly two-thirds of these intrepid female trailblazers have embarked on new journeys, leaving behind a landscape yearning for more heroines to ascend to its majestic peaks!

💪 Despite valiant efforts to mend this disparity, such as settling a monumental lawsuit for a staggering $215 million 💼, the road to gender equality remains a work in progress. But do not despair, for CEO David Solomon and his visionary team stand as architects, sketching blueprints and crafting strategies to ensure that every aspiring heroine has an equitable opportunity to scale the towering heights of success! 🏙️

Devin! The AI is built that scares coders 💻

Breaking News! Move over, human coders, because there’s a new kid on the block, and its name is Devin! Backed by tech titans like Peter Thiel, this AI powerhouse, created by the startup Cognition, is shaking up the coding world with $21 million in investment.

Imagine having a coding buddy named Devin who can tackle bugs and build websites faster than you can say "HTML"! Devin isn't just any old AI; it's the first of its kind, designed to understand plain English and whip up code like magic. With the prowess of an entire engineering team, Devin learns, plans, and writes code in minutes, making it the envy of software engineers everywhere.

Devin isn't just about fixing glitches; it's about creating an army of AI minions! That's right, Devin can train its own AI pals, making it a force to be reckoned with in the world of artificial intelligence. Plus, according to Bloomberg, Devin can autonomously resolve issues a whopping 14% of the time, leaving competitors like GPT-4 and Copilot in the dust.

With major investors betting big on Cognition's future, Devin is just getting started. While it's still in early access, there's hope that Devin will empower software geeks to do more with their time, rather than replacing them entirely. So, embrace the future of coding with Devin, and let the AI revolution begin! ✨

🇺🇸 Joe Biden vs. Nippon Steel! 😲

Buckle up, folks! It's like a real-life showdown between superheroes, but with steel! Joe Biden is about to step into the ring 🥊 and voice his concerns about Nippon Steel swooping in to snatch up US Steel! This move isn't just shaking things up, it's got Japan feeling the heat! 🔥

Joe Biden's got some serious doubts about Nippon Steel dropping a whopping $14.9 billion to snag US Steel. And get this, he's not keeping quiet about it! He's planning to make some noise before Prime Minister Fumio Kishida rolls into town on April 10th! 🗣️

Why all the fuss? Well, Pennsylvania's in the spotlight, folks! It's a battleground state in the upcoming presidential rumble between Biden and Trump. And you better believe they're both chasing after those precious union votes! 🗳️

The United Steelworkers union ain't cheering for this merger either. Nope, they're giving it a big thumbs down! 👎 Meanwhile, Nippon Steel's feeling the pressure. They've even brought in some heavy hitters to win over the United Steelworkers. But oops, they forgot to seal the deal before spilling the beans about their big plans. Rookie mistake! And guess what? Talks between Nippon Steel and the union? Not going so hot. Looks like they're having a serious case of miscommunication!

But hold onto your hats, folks! Nippon Steel isn't throwing in the towel just yet. Nope, they're staying in the game, even if Biden gives them a thumbs down. Talk about determination! 💪 So, what's next in this epic saga? Stay tuned to find out! It's like a real-life drama but with steel, politics, and a dash of international intrigue! 🌎🍿

Corporate Defaults Soar to Pre-Crisis Highs!

According to S&P Global Ratings, corporate defaults are on the rise at the highest rate since the global financial crisis! 😱 Yep, you heard that right! This year alone, a whopping 29 companies have defaulted on their debt. That's the most we've seen at the start of a year since 2009! 📉 What's causing this financial rollercoaster? Well, it seems inflation and high-interest rates are really throwing a wrench into the works for the riskiest borrowers out there. 💼 Subdued consumer demand, rising wages, and those pesky high interest rates are making it tough for companies to pay back what they owe. 🤷‍♂️

But wait, there's more! 🌟 Did you know that Europe's been feeling the pinch too? They've seen eight defaults since January, double the usual amount! And across the pond in the US, healthcare companies like Radiology Partners and Pluto Acquisition are feeling the heat. 🔥 Blame it partly on the No Surprises Act, which puts a cap on how much providers can charge for treatments. 💉

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India's resurgence!

Over the past year, we've chatted a lot about India, especially as tensions between the West and China heat up and companies seek new places to expand. 🌍 It's clear that India is riding the wave of deglobalization, but what's really catching everyone's attention now is its stock market's crazy bullish behavior! 🐂 According to The Wall Street Journal, a whopping eighty percent of the world's stock options were traded in India in 2023! 🤯 Stock index options in the country soared by 153% year-on-year, reaching a mind-blowing 84.30 billion, with nearly $4 trillion trading daily in 2024! 💸

When it comes to emerging market equities, China has long been the go-to spot for investors. But with its economy hitting a few bumps and its demographics not as rosy as before, investors are starting to rethink their strategies, especially in the post-pandemic world. 🤔 The contrast in performance between the two countries is stark, as shown by popular U.S.-based ETFs tracking large-cap stocks in each. 📈 While China's gains fizzled out in 2021, India kept on soaring! Meanwhile, sentiment around China's economy and stock market remains pretty gloomy. 🐼 But hey, signs of a short-term rebound might be brewing! 📉

Oracle's latest earnings report!

The Oracle team is riding high as their stock hits new all-time highs! Let's break it down, shall we? 👇

So, Oracle's adjusted earnings per share came in at $1.41, beating the expected $1.38. 📈 And while revenues of $13.28 billion missed estimates by a tiny $0.02 billion, CEO Safra Catz isn't sweating it. 😅 In fact, she's feeling pretty confident, hinting that their goal of hitting $65 billion in sales by fiscal 2026 might be a bit too modest given their momentum! 💼

What's driving this surge, you ask? Well, it seems like their cloud services and license support segment saw a sweet 12% year-on-year rise! 🚀 And guess what? It's all thanks to the booming demand for their artificial intelligence servers! Catz even spilled the beans that Oracle snagged some major new cloud infrastructure contracts during the quarter, with cloud revenue shooting up by a whopping 25% year-on-year!

With AI and cloud powerhouses leading the charge, it's no wonder Oracle's shares are soaring .🐂 Let's stay tuned to see if the vibes change in the days ahead!