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Revolut moves global HQ to heart of London’s financial district as it awaits UK bank license

ASX investors spooked by rising technology costs, Apple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not Cash, ASX rises; Sigma sinks, Musk claims Tesla pay package set for approval, Chinese EV stocks surge after EU slaps up to 38% additional import tariffs and Canada to send 2,000 unarmed rockets, other arms to Ukraine.

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Admin
June 14, 2024

Good Morning,

ASX investors spooked by rising technology costs, Apple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not Cash, ASX rises; Sigma sinks, Musk claims Tesla pay package set for approval, Chinese EV stocks surge after EU slaps up to 38% additional import tariffs and Canada to send 2,000 unarmed rockets, other arms to Ukraine.

Let's jump in.

Before The Bell

Markets

  • Jobless rate falls to 4pc | Chemist Warehouse deal lessons competition | Wall St guru fears ‘unstable’ backdrop (AFR)

  • ASX rises; Sigma sinks, Musk claims Tesla pay package set for approval (AFR)

  • Fed Signals One Rate Cut This Year, But Keeps Door Open to Two (BBG)

Earnings and Data

German wholesale prices fall 0.7% in May (RT)

News Summary

  • Big business’ Voice advocacy backfired: new Qantas chairman (AFR)

  • ChatGPT can make human-like judgments, pick good stocks, researchers say (AFR)

  • ASX investors spooked by rising technology costs (AFR)

  • Fintech has hit a bottom after plunge in valuations and squeeze on funding, execs and VCs say (CNBC)

  • Chinese EV stocks surge after EU slaps up to 38% additional import tariffs (CNBC)

  • Revolut moves global HQ to heart of London’s financial district as it awaits UK bank license (CNBC)

  • Musk says Tesla shareholders voting yes for his $56 billion pay package (RT)

  • China urges EU to reverse 'wrong direction' on EV tariffs (RT)

  • Canada to send 2,000 unarmed rockets, other arms to Ukraine (RT)

  • South Korea extends stock short-selling ban through Q1 2025 (RT)

  • More AI Founders Looking to Sell Startups, Hugging Face CEO Says (BBG)

  • Saudi Fintech Rasan Jumps by 30% in Riyadh Trading Debut (BBG)

  • G-7 Leaders Converge in Italy on Day One of Summit (BBG)

  • Apple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not Cash (BBG)

Deal Flow

Investments / M&A

  • Sony Pictures is buying Alamo Drafthouse theater chain (CNBC)

Daily Picks

  • Roaring Kitty may have cut GameStop options position, strategists say (RT)

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