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The Enemy of My Enemy... (Read It And Eat [01-04-2025])



Welcome to Read It and Eat and Happy New Month! Your go-to source for bite-sized updates on finance, AI, and key business news. Join us twice a week for concise, insightful reads that keep you informed about the latest developments in the business world. Explore our content, subscribe to our newsletter, and stay ahead with curated articles designed to be engaging and relevant. Enjoy the journey with us as we continue delivering high-quality news tailored to your busy lifestyle.


Major Headlines

  • South Korea, China, Japan Agree to Promote Regional Trade as Trump Tariffs Loom

  • South Korea, China, and Japan held their first economic dialogue in five years on Sunday, aiming to strengthen regional trade ties in response to looming tariffs from the U.S. The three nations are working toward a free trade deal that would reduce their dependence on global trade routes shaped by U.S. policy. A South Korea-Japan-China trade agreement would deepen economic integration and solidify Asia’s influence in global commerce. The ministers reaffirmed their commitment to fostering regional and global trade, emphasizing the urgency of securing economic stability ahead of Trump’s expected tariff announcement on Wednesday. If you know evenn the slightest bit about East Asian history you would how monumental it is for these three countries to work together. It brings a whole new meaning to the idiom "the enemy of my enemy is my friend."   Reuters



  • Stocks Mark Worst Month in Years as Trump’s Tariffs Loom

  • Markets worldwide are reacting to growing uncertainty over trade tensions, with the S&P 500 recording its worst monthly drop since 2022, shedding 5.8% in March. The index also posted its worst first-quarter performance for a new president since the 2009 financial crisis under Obama. Meanwhile, the Nasdaq Composite slipped into correction territory, with investors bracing for further volatility ahead of Trump’s tariff announcement   New York Times


  • Marine Le Pen’s Ban Reshapes France’s Far Right

  • A French court ruling on Monday banned far-right leader Marine Le Pen from running for public office for five years, cutting short her path to power. However, the decision could unexpectedly boost her National Rally (RN) party by fueling populist grievances and accelerating its rebranding. Supporters argue the ruling feeds into the narrative that the political system is stacked against them, echoing Trump’s claims of legal persecution in the U.S.   CNN


  • OpenAI secures a $40B raise at a $300B valuation. 

  • OpenAI on Monday announced that it closed one of the largest private funding rounds in history. According to a blog post on the company’s website, OpenAI raised $40 billion in a round that values the company at $300 billion post-money, with SoftBank leading the financing, CNBC reported. This puts OpenAI ahead as one of the most valuable private companies in the world. “This new capital enables us to push the frontiers of AI research even further, scale our compute infrastructure, and deliver increasingly powerful tools for the 500 million people who use ChatGPT every week,” OpenAI wrote in the blog post. “We’re excited to be working in partnership with SoftBank Group—few companies understand how to scale transformative technology like they do.” CNBC, citing a source familiar with the matter, reported that around $18 billion of the funding will go toward OpenAI’s ambitious Stargate infrastructure project, which aims to establish a network of AI data centers across the U.S. However, if OpenAI ever decides to go public, it may struggle to justify its ballooned valuation, given the scrutiny and profitability expectations that come with an IPO. CNBC


Minor Headlines

  • Trump’s immigration policies could shrink the labor supply for industries like construction.  New York Times


  • The Kremlin responds to Trump’s remarks about being “very angry” with Russian President Vladimir Putin. CNN


  • Fintech shows early signs of a comeback.  Pitchbook


  • Trump Sued Over Order Requiring Proof of Citizenship to Vote. Bloomberg


  • SRT profits soar as governments invest in maritime surveillance. Armchair Trader


  • Republicans push to end taxes on tips, while Uber and DoorDash lobby for drivers’ interests. Newsmax


  • Primark CEO resigns following an investigation into workplace conduct.  BBC


  • Northvolt lays off half its workforce as the bankrupt battery-maker seeks a buyer.   Yahoo Finance


Gen Z Word of the Day:

Drip

stylish or fashionable appearance

Example: ‘ Check out his drip- it’s fire!’

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