Newsletter May 24, 2023

Quick Six

Biden, McCarthy hold 'productive' talks on debt ceiling deal
Negotiations to avert a catastrophic US debt default look set to go to the wire, with talks resuming Tuesday after President Joe Biden and House Speaker Kevin McCarthy failed to reach agreement ahead of a June 1 deadline. Both described Monday's talks as "productive," but said disagreement remained on key issues. Biden and McCarthy's teams have been locked in late-night talks since Sunday to try and shape a deal to raise or suspend the debt ceiling in order to cover existing US spending commitments.
SEE THE STICKING POINTS IN A BIPARTISAN DEBT DEAL

Amazon employees plan walkout over layoffs, RTO mandate
Amazon employees in Seattle reportedly plan to walk off their jobs in a show of anger against the return-to-office (RTO) mandate, as well as the ongoing layoffs. A group of Amazon employees sent emails to their colleagues urging them to walk out of offices on May 31 in response to the 27,000 jobs cut companywide. Amazon also issued a mandate requiring employees to return to offices.
SEE AMAZON'S RESPONSE TO EMPLOYEE WALKOUT PLAN

Netflix extends its new password-sharing policy worldwide
Netflix on Tuesday expanded its crackdown on users sharing passwords with people beyond their immediate family as it seeks to shore up revenue at the leading streaming television service. Netflix said early this year that more than 100 million households were sharing accounts. Netflix has enacted "borrower" or "shared" accounts, now expanding the policy to more than 100 countries.
HOW NEW NETFLIX POLICY IS INCREASING SUBSCRIBERS

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Markets

DJIA	33,055.51	-0.69%
S&P 500	4,145.58	-1.12%
Nasdaq Composite	12,560.25	-1.26%
Japan: Nikkei 225	30,957.77	-0.42%
UK: FTSE 100	7,762.95	-0.10%
Crude Oil Futures	73.67	1.04%
Gold Futures	1,977.50	0.15%
Yen	138.56	-0.02%
Euro	1.08	0.01%
* As of market close

DeSantis to announce presidential bid today

Republican Ron DeSantis is set to announce his anticipated challenge to Donald Trump for the party's 2024 White House nomination today at 6 p.m. ET, touting his ultra-conservative record as Florida governor as a blueprint for the nation. DeSantis is to kick off his presidential bid during a live Twitter event with Elon Musk. Considered Trump's chief rival for the GOP nomination, DeSantis plans to sell his conservative agenda in Florida as a favored alternative to the more extreme MAGA movement.

SEE TRUMP'S VIDEO TESTIMONY IN STORMY DANIELS' CASE

US new home sales hit annual high in April

New home sales in the United States defied expectations in April to reach a one-year high, the Commerce Department said Tuesday, led by increases in the South and the Midwest. Sales of new single-family houses rose by almost 12% from last April to reach a seasonally-adjusted annual rate of 683,000 last month. They also rose on a monthly basis following a downward revision to March's sales figures.

WHY NEW HOME SALES TOOK A NOSEDIVE IN THE NORTHEAST

Is Lebron James considering retirement?

NBA fans from around the world are wondering if they have witnessed superstar LeBron James play the game for the last time. After his Los Angeles Lakers were swept by the Denver Nuggets in the Western Conference Finals, possible retirement appears to be weighing heavily on the mind of James, who scored 40 points but missed two shots late in Game 4. Following the loss, James seemed to hint at hanging it up.

SEE JAMES' COMMENTS ABOUT HIS POSSIBLE RETIREMENT

Extra point

Lebron James recently broke the NBA record for most career points. Who's record did he break and how many points does he now have?

Tuesday's answer: Dave Grohl, who was the drummer for Nirvana, now fronts Foo Fighters. Both bands are in the Rock & Roll Hall of Fame.