The immediate impulse might be to jump in the chip rally. If you're in that camp, a more measured approach might be to use options and risk less capital.
John Lewis is considering closing its in-store money exchange and gift wrapping services, a move that could lead to around 200 job losses. The retailer cites falling demand for foreign currency exchange and a shift towards online orders and digital payments. Gift wrapping services are proposed to be moved to tills. Affected staff will be consulted.
Victims of the 2023 data hack at 23andMe will receive a $46.75 million payout from Chrome Holding, the company that acquired 23andMe after its bankruptcy. A California court ordered the settlement, which will be distributed by Kroll Restructuring to affected individuals.
Weight-loss medications like Wegovy and Mounjaro are significantly altering UK consumer spending. Research indicates users spend less on groceries and eating out, shifting purchases towards healthier options and products that mitigate side effects, though spending patterns may revert upon cessation.
Kalshi traders are betting on low probabilities for the US government taking a stake in OpenAI or Anthropic this year, with odds under 30%. However, they see higher chances for stakes in quantum computing firms Rigetti Computing and D-Wave Quantum, and semiconductor manufacturer GlobalFoundries, with odds over 60%.
Jim Cramer described Tuesday's market activity as a "vintage day" on Wall Street, noting a shift in investor focus from AI chip stocks to lagging megacap tech companies like Amazon, Alphabet, and Meta, following Samsung's earnings report.
Netflix, Disney, and YouTube are reportedly interested in acquiring U.S. broadcast rights for the 2030 and 2034 FIFA World Cups, potentially challenging Fox and sparking a bidding war. FIFA may bundle English and Spanish rights, increasing the expected $1.5-$2 billion price tag per tournament.
