Big Banks & Italian BMTs 🌯
This Week in Review☕️: Women in China are choosing their Career over Family | Subway eyes potential sale | The Worlds Most Populous Country | Cancer Vaccines show hope after human trial |Luxury rebound
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Quick Bites:
Food🌯: Italian White Bread, Nine-Grain Wheat, Parmesan Oregano, Multi-Seed and Honey Oat.. What do these breads have in common?
Subway.
Sandwich chain Subway eyes possible sale for $10 billion.
Subway, which has over 37,000 restaurants in more than 100 countries, said earlier this month its same-store sales climbed 9.2% last year.
The foundation for Subway co-founder Peter Buck, who died in November 2021, announced he left his 50% ownership to the organization, meaning it will soon be half-owned by a charity. It is unclear if that will impact a potential sale, Wall Street Journal.
The sale could also have to do with the string of lawsuits against the sandwich giant in the recent years:
💡Subway's tuna doesn't actually have tuna in it but a 'mixture of various concoctions'.
Multiple lab reports found 'no trace of tuna' or any fish for that matter.
💡The Supreme Court ruled that Subway 'bread' isn't, ummm, bread, due to the high percentage of sugar in them
So, Subway's tuna is apparently not tuna and this is after a UK hearing ruled that their bread is not actually bread and we think very soon we gonna find out that Subway isn't actually Subway.
Damn.. this some Fyre Festival of food sh*t
Well, it would finally explain the odd sickly-sweet smell that wafts in like a 10-yard radius around the place 🤢🤢
Our Thoughts💡: The potential sale is actually interesting considering there's a Subway on just about every street corner in America.
It's also a meal option many choose under the disguise of eating "healthy" in comparison to other chains like McDonald's, Wendys and Panera Bread.
What would you call a baked product that has 10% sugar and isn't called 'cake' ? We call it Capitalist America at it's finest.
Personally, we love the Italian BMT & Sweet Onion Chicken Teriyaki on Multi-grain bread.
But now that we think about it, maybe whoever buys Subway should look into what the "chicken" in the Teriyaki sub really is.. !!
Banking🗞: The "Big Banks" have kicked off this earning season with big profits, eluding the chaos that has uprooted some of their smaller rivals, WSJ reports.
The world's biggest banks reported bumper Q1 earnings, exceeding investor expectations:
💡JPMorgan Chase clocked a $12.6bn profit in the first three months of 2023, a 52% jump year-on-year
💡Citigroup saw its profit leap 7% to $4.6bn
💡Wells Fargo by 32% to $5bn
💡PNC reported $1.7bn in earnings
This comes as Jamie Dimon recently warned investors of "looming storm clouds" ahead.
Kinda amazing how Dimon is talking about rate hikes and a collapsing economy while he expects to rake in around $80 BILLION in net interest income this year 🤔
"Banking sector woes, a hawkish Fed and Russia's invasion of Ukraine make for an uncertain macro forecast"
-JP Morgan CEO Jamie Dimon
Translation💡: Prepare for more Fed handouts at the cost of US taxpayers to fund this perpetual casino called our financial system
Increasing interest rates have helped drive this surge, with big banks charging more for loans, Yahoo Finance reports.
Some top lenders have also benefitted from a rise in depositors, as nervous customers moved money out of smaller banks and turned to larger, more stable institutions.
PS. This is what happens when banking whales suck the life out of small regional banks. Good for the big guys. Bad for the customer as the monopoly gets consolidated 🖕🏻
Culture🍼: China is facing a population crisis, in part due to more women choosing to focus on their careers, instead of starting a family.
Hold up.. How tf is having 2 billion peeps having a population crisis?! We thought China's overpopulation WAS the "population crisis"
Already dealing with an aging population and poised to soon overtake India as the world's most populous country, China continues to struggle to boost its birth rate, CNBC reports.
Background💡: The Chinese government abolished its one-child policy in 2016 and scrapped childbirth limits in 2021.
However, married couples today are having fewer children- or choosing to not have any at all.
China’s National Bureau of Statistics reported that the population dipped to 1.412 billion last year from 1.413 billion in 2021, CNBC.
“There is a desire to have a career in China and being a stay-home mother is never a goal. It doesn’t even appear on the radar for most women.”
Statista data showed that female students accounted for almost 42% of doctorate degree enrollment in 2020.
Our Thoughts💡: It's been amusing to watch countries like China and India strategically avoid the whole "Our population has been sneakily aborting in favor of male babes for decades and we, like the GOP and Mars, have no women" issue
Like y'all wanted the workforce but eliminated half a gender
The truth is that women are fed up. Just plain ol' fed up. Done being the sperm bucket for men and men are staggered, STAGGERED WE TELL YOU, as to why we no longer want to serve them at the cost of our health and career.
Motherhood is
-Not easy
-Not glamorous
-Not cheap
With the housing crisis, inflation, crime rate, unstable government, low job security.. not to mention the cooking, cleaning, laundry, taxes, car maintenance, dog bills, nanny care etc..
Nahh we're over it folks 🖕🏻🖕🏻🖕🏻🖕🏻🖕🏻🖕🏻
Luxury🥂: LVMH sales boosted by China's luxury rebound.
LVMH reported a 17% rise in revenue for the first 3 months of 2023 from the same period last year, WSJ.
The maker of Louis Vuitton handbags and Moet Chandon champagne saw its sales rise as Chinese buyers ramped up their purchases of luxury goods.
It is now the most valuable listed company in Europe making CEO Bernard Arnault's net worth soar past 200 billion, WSJ.
He became the 3rd person ever to reach such heights of personal wealth. The milestone was earlier achieved by Tesla CEO Elon Musk and Amazon's Jeff Bezos before share prices of these technology companies fell.
This comes as French protestors stormed LVMH headquarters in Paris, on the same day shares in the company jumped to a record high.
“If Macron wants to find money to finance the pension system, he should come here to find it,”
-Fabien Villedieu, a union leader, told CNN
Our Thoughts💡: You're probably asking why would pension reform protestors storm LVMH hesdquarters?
Because Bernard Arnualt's buddy President Macron raised the retirement age from 62 to 64 to put more money into the system.
He also abolished France's wealth tax, giving the likes of French billionaire Arnault a significant tax break.
i.e The rich get richer and the poor don't matter
Welcome to the 21st century y'all
Health💡: Moderna, Merck make progress toward cancer vaccines, WSJ reports.
An experimental mRNA vaccine developed by Moderna and Merck can help prevent relapse for patients with melanoma-the deadliest skin cancer.
According to a new study, about 79% of high-risk melanoma patients who recieved the personalized vaccine together with Merck’s Keytruda immunotherapy were still cancer-free at 18 months, compared to 62% who got the immunotherapy alone.
The companies will likely need to prove that the treatment is effective in a much larger trial before seeking government approval.
Moderna and Merck said they plan to test the treatment combinations on other tumors, including non-small cell lung cancer, WSJ reports.
Quicker Bites:
Elon Musk warns AI could cause ‘civilization destruction’, even though he continues to invest in it.
YouTube rolls out new policies for eating disorder content.
Apple launches savings account with 4.15% interest rate.
Biden, facing roadblocks in Congress, to issue executive order on childcare and eldercare.
Photographer admits prize-winning image was AI-generated.
Clashes in Sudan kill almost 100 people.