BWIB Finance Newsletter
Wednesday, April 14to Tuesday, April 20, 2021
McDonald’s has partnered with K-pop band BTS to launch BTS meal in May
- McDonald’s announced its upcoming BTS meal on Monday morning, which will be launched in the US, Canada, parts of the Caribbean, and other countries on May 26
- The meal will include 10 piece McNuggets with Sweet Chili and Cajun dipping sauces, a medium Coca-Cola, and medium fries.
- Other collaborations in the Famous Orders program include Travis Scott and J Balvin. The meals have driven sales in the second half of 2020 and are attracting younger customers to the fast-food chain.
Robinhood’s broker license may be revoked in Massachusetts
- Massachusetts’ (MA) securities regulator has sued Robinhood to revoke the trading app’s license to act as a broker in the state, saying the app has continued to lure young beginner investors onto its platform.
- Robinhood, in turn, sued MA to block the state from asserting its authority to regulate its app, saying MA’s state law conflicts with SEC’s looser standard.
- In September last year, MA introduced its own fiduciary rule forcing broker-dealers to avoid, eliminate, and mitigate conflicts of interest when making recommendations.
- The SEC’s looser standard allows brokers to just disclose those conflicts.
Google reports that next housing market crash searches are trending
- Houses have been selling for higher than their listed price.
- Consumers have been concerned with the housing market price bubble and are predicting that the price bubble may burst.
- CoreLogic’s measure of prices shows that prices increased by 10.4% in February “year over year”, which is the biggest annual jump since 2006.
- Pfizer CEO, Albert Bourla, says that the third Pfizer COVID vaccine dose will most likely be needed within 12 months. There’s a possibility that people will need to get the COVID vaccine every year. (Source: CNBC)
- U.S. health authorities were initially only going to warn about a blood-clotting risk from Johnson & Johnson’s COVID vaccine, but decided to entirely pause administration of the vaccine out of concern that doctors would improperly treat the condition (Source: WSJ)
- Covid/quarantine started a DIY boom, and with record low interest rates, lumber futures have jumped from $32 to $1,158. This could add at least $9K to the cost of apartments. (Source: Fortune)
- Big companies like Shell and Exxon have made money by extracting carbon from the ground to produce more oil. Now, they hope to profit from burying heavy-polluting industries’ carbon in the ground for a fee rather than releasing it into the atmosphere to reduce carbon emissions. (Source: WSJ)
- Due to national security issues, the U.K. government will examine Nvidia’s $40B deal to buy British chip designer Arm from SoftBank Group. (Source: WSJ)
- Semiconductor producers are struggling to keep up with demand, which could threaten to slow down post-pandemic recovery. The shift away from lower-margin and lower-tech chips essential in cars, monitors, appliances, and more have exacerbated this shortage. (Source: WSJ)
General Business / Company News
- As Covid-19 vaccines get distributed, Coca-Cola sales have been rebounding from the significant decrease in sales earlier this year when venues around the world closed. (Source: WSJ)
- Apple removed Parler from its app store back in January, but Apple plans to make the social media app available again. (Source: WSJ)
- Netflix stock price drops by nearly 10% after Netflix announces 4 million new subscribers, 2 million subscribers short of the 6 million prediction. (Source: CNBC)
Director: Jacquline Ruan
Managers: Vaibhavi Bamane, Melissa Chen, Stacy Kim