Doomsday finance from the housing crisis—booked into public discourse
Global stock markets have rallied to new highs, driven by optimism over US-Iran peace talks and signs of economic resilience. The S&P 500 and Nasdaq have posted record streaks, while the chip sector continues its record-breaking rally, despite ongoing geopolitical uncertainties and recent war-related disruptions.
eBay has rejected GameStop CEO Ryan Cohen’s unsolicited $125-per-share offer — about $55.5bn — after its board has reviewed the proposal and found uncertainty in financing, added leverage and operational risks. GameStop has built roughly a 5% stake in eBay and has signalled it will consider taking the offer directly to shareholders.
Billie Eilish and James Cameron have co-directed a new 3D concert film, Hit Me Hard and Soft: The Tour (Live in 3D), which captures the star’s Manchester show and backstage moments. The project marks Cameron’s first major foray into a concert-film collaboration with a pop artist, expanding the format while staying faithful to Eilish’s stage persona.
A wave of record profits, rising deal activity, and aggressive hiring define the current financial landscape. Banks are expanding, hedge funds are scaling, and private markets are buoyant as AI investment drives capital flows and strategic transactions.
The SpaceX IPO has launched, commanding a multi-trillion-dollar market cap and drawing investor attention to AI-focused stocks like Anthropic and OpenAI. Analysts warn about overvaluation and the risk of market concentration as new supply floods the tech sector.
Andy Burnham has presented a ten-year plan to rebalance power in Britain, promising a No10 North in Manchester, the biggest council house-building programme since the post‑war era, greater local control of utilities and devolution of employment support while pledging to stick to Labour’s 2024 manifesto and current fiscal rules. He is widely expected to become prime minister on July 20.
Michael Burry has placed bearish bets against key AI-driven stocks and the SOXX semiconductor ETF, while updating bets on Nvidia, Tesla, and Caterpillar. The moves come as chipmakers and AI-related firms rally on spending and demand signals, with Burry warning the rally may be near its end.
Andy Burnham has affirmed Labour’s pensions triple lock in the face of internal debate. In a Reddit AMA, he says he will work to the 2024 manifesto, backs 100% Ukraine support, and sees scope for a more ambitious EU trade deal. He also advocates electoral reform and fully funding the defence investment plan.
Michael Burry has built positions in Flutter and DraftKings, arguing regulation and taxation will force prediction markets to fit under broader rules. He says the market is in a regulatory loophole and will be subsumed by tighter oversight as enforcement rises.