Key Takeaways
- The U.S. House approved a measure to end the government shutdown; immigration negotiations persist.
- PepsiCo announced plans to cut snack prices by up to 15% to boost sales.
- French authorities raided X's Paris office amid investigations into algorithmic bias.
- Tensions rose in the Persian Gulf after the U.S. shot down an Iranian drone.
Deep Dive
- Josh D'Amaro, head of theme parks and cruise ships, will succeed Bob Iger as Disney CEO in March.
- Theme parks now account for the majority of Disney's profits, an area of D'Amaro's expertise.
- Investors reacted negatively, with Disney's stock down significantly since 2021 due to industry shifts.
- Activist investor Nelson Peltz, who previously clashed with Iger, predicted he might seek a reason to remain on the board.
- Walmart achieved a $1 trillion market cap, becoming the first traditional retailer to do so.
- This milestone is driven by its e-commerce growth and investments in automation and AI.
- Former CEO Doug McMillon highlighted the company's strategy of leveraging existing stores for last-mile delivery.
- The NASDAQ fell 1.4% in a tech-led sell-off, marking another decline for the sector.
- Investors are concerned about artificial intelligence tools automating legal tasks.
- This apprehension impacted software and data services stocks, including SP Global and Equifax.
- Argentine President Javier Milei aims to convince citizens to deposit over $250 billion in U.S. dollars.
- These funds are currently hoarded due to decades of past economic crises in Argentina.
- The initiative seeks to stimulate the economy and enable lending within the country.