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- Era of Easy Money Comes to an End, Noncompete Ban Blocked and The Worst Leveraged Buyout
Era of Easy Money Comes to an End, Noncompete Ban Blocked and The Worst Leveraged Buyout
Anna Eisenberg
August 20, 2024
Anna's Daybreak News
Wednesday, 5:11 AM
August 21, 2024
Good morning news friend! Stay in tune with the latest updates, following the ever-changing stream of current events. 📰🌟
Era of Easy Money Comes to an End
Saudi Arabia is reassessing its investment strategy as its $925 billion Public Investment Fund (PIF) shifts its focus from global spending to domestic commitments.
This marks the end of an era where the kingdom was seen as an easy source of capital for global dealmakers. The PIF’s US traded stocks dropped from $35 billion at the end of 2023 to $20.5 billion by June 2024.
Saudi Arabia has tightened conditions for capital, often requiring reinvestment within the kingdom and the hiring of local employees.
For example, BlackRock recently secured $5 billion from the PIF to anchor a new firm in Riyadh, with a focus on developing the kingdom’s capital markets.
Source: Read More
Saudi Arabia is reassessing its investment strategy as its $925 billion Public Investment Fund (PIF) shifts its focus from global spending to domestic commitments.
This marks the end of an era where the kingdom was seen as an easy source of capital for global dealmakers. The PIF’s US traded stocks dropped from $35 billion at the end of 2023 to $20.5 billion by June 2024.
Saudi Arabia has tightened conditions for capital, often requiring reinvestment within the kingdom and the hiring of local employees.
For example, BlackRock recently secured $5 billion from the PIF to anchor a new firm in Riyadh, with a focus on developing the kingdom’s capital markets.
Source: Read More
Court Blocks FTC’s Noncompete Ban
US District Judge Ada Brown (Texas) ruled that the FTC exceeded its authority. The judge called the rule aimed at banning noncompete agreements was "arbitrary and capricious."
The US Chamber of Commerce opposed the ban, arguing it protects trade secrets.
The rule was scheduled to take effect on September 4. The FTC stated that about 30 million US workers, or 20%, are bound by noncompete agreements.
Proponents of the ban argue it stifles competition and lowers wages.
Source: Read More
US District Judge Ada Brown (Texas) ruled that the FTC exceeded its authority. The judge called the rule aimed at banning noncompete agreements was "arbitrary and capricious."
The US Chamber of Commerce opposed the ban, arguing it protects trade secrets.
The rule was scheduled to take effect on September 4. The FTC stated that about 30 million US workers, or 20%, are bound by noncompete agreements.
Proponents of the ban argue it stifles competition and lowers wages.
Source: Read More
Do you think the US will be able to avoid a recession? |
Parkinson's Treatment with Personalized Brain Stimulation
A study in "Nature Medicine" highlighted the case of Shawn Connolly, a 39 yearold skateboarder, diagnosed with Parkinson's nine years ago. He struggled with symptoms like tremors and stiffness.
The study introduced adaptive deep brain stimulation, which tailors electrical stimulation to individual patient needs.
Results in participants, including Connolly, experienced a 50% reduction in their most bothersome symptoms.
Researchers used AI to personalize each patient's therapy protocol. This could become a standard treatment option.
Source: Read More
A study in "Nature Medicine" highlighted the case of Shawn Connolly, a 39 yearold skateboarder, diagnosed with Parkinson's nine years ago. He struggled with symptoms like tremors and stiffness.
The study introduced adaptive deep brain stimulation, which tailors electrical stimulation to individual patient needs.
Results in participants, including Connolly, experienced a 50% reduction in their most bothersome symptoms.
Researchers used AI to personalize each patient's therapy protocol. This could become a standard treatment option.
Source: Read More
Twitter: Worst Leveraged Buyout?
Elon Musk spent $44 billion on Twitter but borrowed $13 billion from banks.
The timing of the deal occurred just as borrowing costs started to rise. As a result, banks cannot sell this debt to investors.
Since the 2008 financial crisis, no leveraged buyout debt has remained on bank balance sheets for this long.
X (Twitter) faces over $1 billion in annual interest payments. However, revenue in will reach $600 million this year.
Source: Read More
Elon Musk spent $44 billion on Twitter but borrowed $13 billion from banks.
The timing of the deal occurred just as borrowing costs started to rise. As a result, banks cannot sell this debt to investors.
Since the 2008 financial crisis, no leveraged buyout debt has remained on bank balance sheets for this long.
X (Twitter) faces over $1 billion in annual interest payments. However, revenue in will reach $600 million this year.
Source: Read More
“You can expect blowouts and explosive errors in fields where there is a penalty for simplicity”
Baked with love,
Anna Eisenberg ❤️
What did you think of today's edition? |