Additionally, the article covers various market and business news, including Citi's controversial employee review process, the unique investment strategy of Rokos hedge fund, and Morgan Stanley's investment advice for 2025. In tech, AppLovin's impressive market performance and Vercel's board appointment are noted. The business section highlights Sean "Diddy" Combs' legal troubles and the misuse of pandemic relief funds by wealthy musicians. Other news includes Zillow's inaccurate home valuations and the lack of retirement plans for many Americans.
Key takeaways:
- The Federal Reserve is expected to make a rate cut today, but future cuts are uncertain due to ongoing inflation concerns and the incoming president's potential economic policies.
- AppLovin, a mobile ads and gaming company, has seen its market value soar, but there are doubts about the sustainability of its growth.
- Sean "Diddy" Combs' business empire is unraveling due to legal issues, including a criminal indictment and multiple civil lawsuits.
- Rich musicians exploited pandemic relief programs intended for smaller arts organizations, billing taxpayers for luxury expenses.