Litquidity Newsroom

OpenAI’s newest AI lets users create their own GPTs, Bumble shares fell on news that its CEO was stepping down, Google’s app store power is being challenged in court, millions of retired Americans are not re-entering the workforce, Citi is considering deep job cuts, and Nike sued New Balance and Skechers.

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Berkshire is sitting on a record $157B cash pile, Musk released his ‘Grok’ AI to combat ChatGPT, Jack Dorsey is taking a more hands-on approach at Block again, Washington Post is projected to lose $100M this year, Tesla is raising wages for German workers, and bankers are looking for legal cover after backing $1.5T of ESG debt.

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SBF was found guilty on all seven charges against him, Goldman promoted 608 to MD, Apple warned of a sluggish holiday quarter, the CEO of the National Association of Realtors stepped down, Bezos is moving to Miami, Wall Street titans fueled an Ivy League donor revolt, and Roku led a media stock rally.

The Fed is holding rates steady, JPMorgan is seeking out a private credit crunch partner, The US and European economies are diverging, China agreed to an arms-control talk with the US, top MBA programs are enrolling more women than men, and Toyota gave US auto-factory workers a pay bump.

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WeWork is filing for bankruptcy, a federal jury found realtors liable for $1.8B in damages after conspiring to keep commissions for home sales high, Alphabet and Match settled Google Play antitrust claims, Druckenmiller is betting big on 2-year notes, Musk says Tesla is planning to make 200,000 Cybertrucks per year, and orange juice futures hit an all-time high.

Wall Street made bank in fees from NYC pensions, the US cut its quarterly borrowing target to $776B, Meta paused ads for users under 18 in Europe, Google’s CEO defended their Apple search partnership, Biden is looking to cut AI risks with an executive order, and X claims that it’s worth $19B one year after Musk’s acquisition.

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Google invested $2B in OpenAI competitor Anthropic, the US Treasury is likely boosting auction sizes as the budget deficit worsens, Asian central banks could hike rates more, Ken Griffin flew Citadel’s Asia-based staff to Tokyo Disney, and Two Sigma had a big trading scandal.

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