China’s Tech Crackdown Is Cooling Hong Kong’s IPO Market
New Hong Kong listings tumbled to their lowest since the aftermath of the global financial crisis, as weaker markets and China’s clampdown on its biggest tech firms…
Bloomberg
What Should I Read? Covid Has Put Books Back in Business – Bloomberg
Reading has picked up thanks to lockdowns and isolation. Publishers and parents are hoping the habit sticks.
China Starts a War on Commodity Prices Goldman Says It Can’t Win
It sounds like a Mao-era relic of China’s planned economy: the Department of Price.
Stock’s 7,700% Gain Set to Be Swept Away by Wider Free Float
A shortage of shares has helped drive a surge of almost 7,700% in Orchid Pharma Ltd. over the past seven months. And now it looks poised to end.
AMC CEO Adam Aron Gave Sons Stock Gift in March Now Worth More Than $30 Million
AMC Entertainment Holdings Inc.’s chief executive officer, Adam Aron, gave his two adult sons 500,000 shares of the theater chain’s stock back in March, worth about…
Five Things You Need to Know to Start Your Day
Biden to amend Trump’s China blacklist. Meme stock frenzy returns. Hedge funds get some work flexibility. Here’s what you need to know to start your day.
GMO’s Grantham Says SPACs Craze, Nasdaq Have Peaked Already
Value investor Jeremy Grantham said U.S. technology stocks and the craze for blank-check companies have both already peaked and that the broader stock market is…
Business
Hacking Outfit Linked to Russia Is Behind JBS Cyberattack – Bloomberg
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OPEC+ Sees Tighter Oil Market and Sharp Fall in Global Stocks
OPEC and its allies tightened their outlook for global oil markets, forecasting that inventories will fall sharply over the rest of this year if they don’t raise…
Hyperdrive Daily: China’s 846 Carmakers Face a Looming Shakeout
Welcome to the Hyperdrive daily briefing, decoding the revolution reshaping the auto world, from EVs to self-driving cars and beyond.