Weekly Insider

Good morning everyone. In a blink of an eye It’s February I hope that everyone is crushing it at school. Let’s begin with the Top stories this week with BizBrew!

Fed Fun: Surprise Moves! :

Buckle up for some Fed drama! 🎢 We've been hyped about potential rate cuts, but hold on—there's a twist! 🔄 

The market expected a wild six-rate-cut fiesta, but the Fed threw only three invites. Why? Inflation concerns! The Fed's like, "We need confidence before the 2 percent party!"

Even with a strong economy, Chairman Powell said, "No March cut; we're waiting for a better vibe in the data." The Fed's being careful, worried too many cuts might mess up the financial dance floor, causing inflation chaos. 😱 The market did the cha-cha, with stocks doing a dip, bonds catching the wave, and a 36% chance of a March cut. Powell was crystal clear, but the debate lingers. 🕺

Elon Musk’s Drama:

Guess what, students? Elon Musk, the big boss at Tesla, just hit a speed bump! A judge in Delaware said "no way" to his $55 billion paycheck after a shareholder said it was too much. This is Elon's first big loss in court. Now, Tesla's brainy board has to cook up a whole new plan for how much to pay him.

Elon's piggy bank, currently at $51.1 billion, might take a hit without this giant payday. The judge wasn't thrilled with how Tesla's crew handled things – saying they didn't spill all the beans and had some friendship drama in their decision-making. What's next for Elon? It's like a mystery movie! His money future is up in the air, and he's been eyeing a mega-sized stock bonus. Why? To keep the Tesla spaceship under his command and blast off into the world of super-smart computers.

But wait, there's more drama to come! Elon told his followers on X, “Never incorporate your company in the state of Delaware,” leaving experts worried that Elon might convince other businesses to move out of Delaware. Elon is likely to fight back with an appeal so keep your eyes peeled for his next moves! 🚗💰✨

H&M CEO Helmersson Exits Stage:

Whoa, fashion fans! H&M just dropped a bombshell - the big boss, Helena, unexpectedly left the stage, and the company's stock somersaulted because holiday sales took a nosedive.

After steering the H&M ship for four years and surviving the wild ride of COVID-19, Helena handed over the reins to Daniel Ervér, a veteran of 18 years at H&M and the guy in charge of the H&M brand. Hold on to your shopping bags, though - H&M shares did a little dance, dropping 11%, and their latest earnings report didn't quite hit the fashionista expectations. 🛍️💔

Helena's departure comes after a revamp mission in 2022, cutting jobs and aiming for a 10% profit margin. Sadly, they fell short this time, with a 7.2% margin and a 4% dip in sales during the holiday frenzy.

Consulting Showdown: McKinsey, BCG, and Friends in Hot Water Over Saudi Secrets!

Big news – McKinsey, BCG, Teneo, and Michael Klein's deal advisory are in a bit of trouble for not sharing info about their Saudi Arabia jobs. 🤐💼

Big bosses of these consulting whizzes, like McKinsey and BCG, are getting a serious talk at a Senate committee. Why? Saudi Arabia's Public Investment Fund wanted in on the US-based PGA Tour, and now there's an investigation into their "soft power" moves in the US.

Senator Richard Blumenthal wants answers on why these consulting champs haven't spilled the tea about their Saudi fund work. The PIF even took them to court in Saudi Arabia to keep things hush-hush, and they won a "keep it quiet" order. Sneaky, right? Get ready for the big showdown on Tuesday, where these consulting big shots spill the tea on their work for the PIF and explain why they think a foreign power can say "ssh" to a US congressional subpoena. Talk about high stakes!🍿

Bye-bye Sneaky Robocalls with AI Voices!

Guess what? The FCC is fed up with those annoying robocalls, especially the ones playing around with sneaky AI voices, like mimicking people like Joe Biden! They're putting their foot down and making moves to declare this voice-cloning tech in robocalls super illegal. Why? To catch those scammers in the act! 🕵️‍♂️🚫

Some robocalls are cool, but when they mess with elections or stir up trouble, the FCC says, "Enough is enough!" 🤬 They're teaming up with State Attorneys General to crack down on these scams and protect their citizens from the madness! Here's the FCC's plan: if it sounds fake and uses AI, it's a big "nope!"! 📱

Big Changes in Alzheimer's Treatment!

Biogen just made a big call – they're hitting pause on Aduhelm, a major Alzheimer's treatment that's been stirring up debates. Why? Well, after some serious thinking, Biogen decided to shift gears. They're saying goodbye to Aduhelm to focus on new drug options and push ahead with Leqembi, another Alzheimer's drug they're teaming up on. 🔄

But here's the real deal – Aduhelm and Leqembi got applause, but their clinical trials showed okayish benefits and some risky business like brain bleeding and swelling. Plus, they're not exactly budget-friendly, with a hefty price tag over $25,000 a year! 💸

EU Unleashes €50bn Support for Ukraine!

Big news! The EU just sealed the deal on a whopping €50 billion support package for Ukraine! 🌍🤝 After some push and pull, Hungary's PM, Viktor Orbán, finally gave the nod. 🚦

Why the excitement? Ukraine needs this cash to stand strong against Russia. 💪 Orbán's initial block had everyone on edge, but after some slick negotiations, he came around. The EU parliament still needs to give the thumbs up in February, so if all goes well, Ukraine could see the money in March. 🗓️ This four-year aid package is a game-changer for Ukraine, and leaders hope it'll inspire the US to chip in too.

Join Us EVERY Friday at 11 am, grab your popcorn, and stay curious as there are many more juicy stories to come

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