We Promise Not To Mention Stocks Today! (Read It And Eat [04-04-2025])

Welcome to Read It and Eat! 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’s President Removed from Office After Martial Law Declaration

• South Korea’s highest court has officially removed President Yoon Suk Yeol from office, four months after his controversial declaration of martial law. The decision brings an end to the political drama that’s gripped the country since December when parliament voted to impeach him. Yoon’s removal takes effect immediately, triggering a new presidential election CNN

  
  

• Trump Administration Fires NSA Director in Major Intelligence Shake-Up

• The Trump administration has fired NSA Director Gen. Timothy Haugh, who also heads US Cyber Command, in a move that’s shaking Washington. His deputy, Wendy Noble, was also removed. Lawmakers and intelligence officials are reacting to what they see as an aggressive restructuring just two months into Trump’s new term CNN

• UK Businesses Push Back on Reeves’ £25bn Tax Move

• Chancellor Rachel Reeves is banking on economic growth, but British firms are worried. A British Chambers of Commerce survey of 5,200 companies shows that nearly 60% are concerned about the £25bn national insurance hike. Many have cut back on investment plans, and fewer than half expect turnover growth over the next year. The changes are set to roll out from April 6 BCC

  
  

• Zuckerberg Lobbies Trump to Avoid Meta Antitrust Trial

• Meta CEO Mark Zuckerberg is reportedly lobbying former President Donald Trump and key White House officials in a bid to avoid an antitrust trial set to begin later this month. According to sources familiar with the matter, the tech billionaire is pushing for a last-minute settlement that would halt proceedings and prevent Meta from facing courtroom scrutiny. The case has drawn attention amid ongoing concerns over Big Tech’s market dominance and political influence. Wall Street Journal

Minor Headlines

• Europe prepares for Chinese goods surge following US tariffs Financial Times

• Wise exploring potential FTSE 100 listing Financial Times

• European investors shift from fintech to B2B SaaS and health-tech SiftedEu

• Shoosmiths offers £1m bonus linked to AI usage across the firm CityAM

• Wall Street Urges IPO Hopefuls to Trim Valuations in Weak Market Bloomberg

• European private credit dealmaking ties quarterly record, but M&A lags Pitchbook

• China’s Ministry of Finance issues inaugural Sovereign Green Bonds in London London Stock Exchange

• Partners Group secures board seat through single-asset deal PE Hub

Friday IPO Roundup

In this new segment of our daily newsletter, we briefly discuss a few notable IPOs [Initial Public Offerings] from the past week. We give the name, ticker symbol, where it is listed, and a few things of note for it.

1. Newsmax’s wild IPO ride stuns investors

   Newsmax [NYSE: NMAX], the Trump-endorsed media company, made a dramatic public debut—surging over 2,600% in its first trading session before plunging to just one-sixth of its peak value by the next day. Known for its prime-time audience of around 300,000 viewers, the network is the fourth-largest US cable news provider, though it still trails far behind Fox News [NasdaqGS: FOXA], which reaches over 3 million. Despite its political buzz, Newsmax now trades at a P/E ratio above 50—well above the S&P 500 average of 26–29. Armchair Trader

2. Circle files for IPO amid $1.7bn revenue surge

   Circle [NYSE: CRCL] Stablecoin operator Circle has officially filed for an IPO following a reported jump in revenues to $1.7bn. Circle’s decision to pursue an IPO is not merely another tech company entering public markets—it’s a critical endorsement of blockchain technology by major financial institutions. With heavyweight backers such as JPMorgan and Citi, Circle’s public listing represents a major validation from the traditional financial system. It provides mainstream investors a credible entry point into blockchain-driven financial services, potentially setting a standard for other Web3 companies aiming to bridge the gap to conventional financial markets. Financial Times

3. CoreWeave's rocky IPO start

   CoreWeave [NYSE: CRWV.O] the Nvidia-backed AI startup filed for an IPO on the 28th of March to a rocky few days of trading. So CoreWeave is an AI data center business, basically. Lots of companies that are building AI models need access to Nvidia’s graphics processing units, which are the chips that all of which AI are powered on. All the AI models you’ve heard of, like ChatGPT, they’ve all been built using Nvidia chips. So CoreWeave takes those chips, it puts them into data centers, and then it leases that computing capacity to companies that are building AI models. The stock opened around $40 per share on March 28, fell as much as 6%, then turned green and rose by as much as 4%. Shares were flat to conclude their first day of trading. However, as of writing, Shares of the AI cloud play spiked 41% on Tuesday and popped 11% to $58.60 in early Wednesday trading.

Gen Z Word of the Day

Lit:

To describe something exciting, fun, or an enjoyable activity.

Example: This party is lit! The music is great, and everyone is having a good time.