Trump wants 35% tariffs on CanadaCanada got one of
those letters. There will be
an exemption for goods under the U.S.-Mexico-Canada Agreement. Canada said it would continue to negotiate. Countries that have
not received one of Trump’s letters will get a rate of 15-20%, the president said.
Bill Ackman soundly beaten in his first pro tennis matchThe 59-year-old Pershing Square CEO played a doubles match with four-time Grand Slam champion Jack Sock but the pair was dispatched in 67 minutes by Bernard Tomic and Omar Jasika, 6-1, 7-5.
Tennis pros gave it withering reviews. Andy Roddick called for the match to be reviewed,
suggesting that Ackman’s opponents deliberately went easy on him.
BCG’s Gaza scandal makes the front page of the WSJThe bizarre and complicated story of how
Boston Consulting Group ended up drafting an analysis of what it would actually take to relocate Palestinians in Gaza and reconstruct the postwar territory saw another development yesterday with BCG’s chief risk officer, Adam Farber, and the head of its social-impact practice, Rich Hutchinson, being demoted. Two other partners were previously fired. The company denies their work was in any way approved and insiders are baffled as to why they were doing it in the first place.
Jamie Dimon: “I have a lot of friends who are Democrats, and they’re idiots”The CEO of JPMorgan had a number of spicy things to say at an event hosted by the Irish foreign ministry. He called NYC mayoral candidate Zohran Mamdani a “Marxist” and slammed Democrats for being too woke. “I always say they have big hearts and little brains. They do not understand how the real world works. Almost every single policy rolled out failed.” Details in
the NY Post and
the FT.
He also had some things to say about Europe …Dimon
warned that Europe is “losing” in terms of economic competitiveness at an event in Ireland on Thursday. “Europe has gone from 90% of U.S. GDP to 65% over 10 or 15 years. That’s not good,” Dimon said.
Tesla finally schedules a shareholder meetingAfter much delay, Tesla
announced the EV company will hold a shareholder event on Nov. 6 as the question of how much to compensate CEO Elon Musk is considered once again. Meanwhile, Musk continues touting the creation of a new political party amid other controversies.
SEC files against alleged ‘Patriot Economy’ Ponzi schemeA politically connected Georgia financier
has been accused of running a multi-million-dollar Ponzi scheme that was helped along through targeted advertisements on right-wing and conservative media channeling the “Patriot Economy.” The SEC alleged in a lawsuit filed on Thursday that Edwin Brant Frost IV and his company First Liberty Building & Loan have been paying investors back for years by soliciting rounds of funds from new investors.