Business Matters with Don Ma Epoch Media Group

U.S. consumer sentiment tumbled to a six-month low in May, as households worried about the higher cost of living and unemployment.
President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors, including a major hike in levies on electric vehicles (EVs), according to people familiar with the matter cited by Reuters.

Novavax’s stock more than doubled in Friday, it had struck a licensing deal worth at least $1.2 billion with Sanofi for its COVID-19 vaccine, in exchange for a stake that valued the U.S. biotech firm at double its current market capitalization.

A new report says a number of U.S. pensions, university endowments, and other institutional investors may have exposure to TikToks owner Byte Dance, this is from a new report by a bipartisan advocacy organization Future Union.
Lawmakers at the house of representatives have voted to repeal a controversial crypto rule by the Securities and Exchange Commission. The rule relates to how banks handle digital assets like cryptocurrencies — It requires custodians of digital assets to account for them as a liability on their balance sheets. NTD spoke with Rep Mike Flood, the republican lawmaker who introduced the house resolution.

The number of Americans filing new claims for unemployment benefits rose last week to the highest level in more than eight months, offering more evidence that the labor market was steadily cooling.

Crypto exchange FTX will have between $14.5 billion to $16.3 billion to pay its creditors and customers, according to an amended reorganization plan filed by the company on Tuesday in a U.S. bankruptcy court.
Blackstone Real Estate Income Trust is baffling investors. The $59 billion fund has boasted 10.5% annual return since its debut in 2017. Competitors on the other hand have fallen in value. Criticism is growing over how the fund values its assets.

The U.S. has reportedly revoked licenses that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies.

TikTok sued on Tuesday to block a new law that requires the sale of the app from its Chinese parent company or its ban from app stores and web-hosting services.
A new report shows that the Social Security system’s main trust fund will be depleted by 2035—one year later than a prior estimate, though concerns remain about the fund’s solvency.

Walt Disney's surprise profit in its streaming entertainment division was eclipsed by a drop in its traditional TV business and weaker box office, sending its stock tumbling 10%, on track for its deepest one-day drop in 17 months.

Warren Buffett assured Berkshire Hathaway shareholders that the executives expected to succeed him were ready for the job, and he heaped praise on Apple although Berkshire trimmed its position in the iPhone maker.
The Federal Aviation Administration said on Monday it has opened an investigation into the Boeing 787 Dreamliner after the planemaker said some employees had committed "misconduct" by claiming some tests had been completed.

Retail trading platform Robinhood Markets said on Monday it received an enforcement action notice from the U.S. Securities and Exchange Commission (SEC) on May 4 over crypto tokens traded on its platform.

An auditing firm that represents hundreds of clients including Trump Media, which owns former President Donald Trump’s “Truth Social” app, reached a $12 million settlement with the SEC to settle charges alleging it failed to comply with accounting oversight standards affecting over 1,500 of its SEC filings.
The U.S. labor market showed further signs of cooling down after the economy added a smaller-than-expected 175,000 new jobs last month, down from 315,000 in March, according to the Bureau of Labor Statistics (BLS). The market had penciled in a reading of 243,000 positions.

Apple shares jumped 7% on Friday as the iPhone maker's record stock buyback plan and promise of sales growth brought back investors who have shunned the stock on concerns over weak demand and increased competition in China.