Today’s top business news covers a wide range of topics, including the oil market, electric vehicle (EV) market, stockpicking hedge funds, lifestyle trends, and global developments. Here are some of the key highlights:
- Oil Market: Open interest in oil futures contracts has risen to the highest level since March 2022, even though prices are stuck in a narrow range.
- EV Market: There are concerns about tanking used values in the EV market, as evidenced by Polestar’s stipulations for relieving Hertz of buying requirements.
- Stockpicking Hedge Funds: Investors have pulled $150 billion out of stockpicking hedge funds over the past 5 years, as equity long-short funds have underperformed the US stock market.
- Wealthy Couples: Couples with two incomes and no kids, known as DINKs, are living affluent lifestyles.
- Zimbabwe’s Death Penalty: Zimbabwe has abolished the death penalty nearly two decades after the last execution.
- Biden Administration: The Biden administration has implemented a new rule to crack down on soot pollution, projected to prevent up to 4,500 premature deaths in 2032.
- Global Economy: The US Naval Institute reported that the CEO of French luxury giant LVMH, Bernard Arnault, has become the world’s richest person, surpassing Elon Musk.
- Technology and AI: There are ongoing developments in AI and technology, including Baidu’s focus on generative AI and the potential for a symbiotic relationship between humans and artificial intelligence.
