The Daily Upside

Consumer

Pernod Ricard Dumps Most Wine Holdings as Grapes Sour

Photo by Eva Rinaldi via CC BY-SA 2.0

Paris-based Pernod Ricard announced Wednesday that it’s selling most of its wine portfolio to a consortium of Australian wine investors.

1 min read
Consumer

Italy Hits Dior and Armani with Antitrust Probe over Working Conditions

Photo by Osarugue Igbinoba via Unsplash

Italy’s antitrust agency has opened an investigation into Dior and Armani over allegations of worker exploitation.

2 min read
Semiconductors

Chip Stocks Take a Tumble as US Hints at More Restrictions on China

Photo by Mikhail Nilov via Pexels

American chip stocks fell Wednesday morning amid the prospect of even tighter restrictions on business with China.

2 min read
Advisor Upside

Women Get First Crack at $84T Wealth Transfer

Photo by Sasun Bughdaryan via Unsplash

Because women typically outlive men, approximately $9 trillion of the wealth transfer is projected to fall to them in the coming years.

1 min read
Advisor Upside

Will a Trump Administration Really Axe Finra?

Photo via Finra

The conservative manifesto, called Project 2025, unveiled plans to cut several government offices including Finra.

2 min read
Advisor Upside

How Interest Rates Cut Into Morgan Stanley’s Earnings

Photo by Ginton via iStock

Morgan Stanley’s performance was held down by its wealth management division and a Federal Reserve that is stuck in neutral on rate cuts.

1 min read
Media & Entertainment

Could Soaring Ad Revenue Save the Media Industry?

Photo by Glenn Carstens-Peters via Unsplash

PricewaterhouseCoopers’ annual Global Entertainment & Media Outlook says the media industry has plenty of reasons for optimism.

2 min read
Economics

IMF Downgrades US Growth Projection, US Retail Sales Prove Resilient

Photo by Charles Deluvio via Unsplash

The International Monetary Fund said the US economy is set to cool compared to previous projections, and that it’s piling up debt.

1 min read
Artificial Intelligence

Europe is Hot on AI Regulation, Less So on Startup Policy

Photo by European Parliament via CC BY 2.0

The EU’s landmark AI Act is due to come into force next month, and founders and lawmakers are fretting over whether it’s fit for its purpose.

2 min read
Consumer

Macy’s Says No to Private Equity Buyout. Now What?

Photo by Anthony Quintano via CC BY 2.0

The board of directors for Macy’s unanimously voted to end negotiations with Arkhouse and Brigade to take the company private.

1 min read
M&A

Cleveland-Cliffs to Buy Canadian Steelmaker for $2.8 Billion

Photo by Ant Rozetsky via Unsplash

Steel giant Cleveland-Cliffs announced Monday that it will buy Canada’s Stelco Holdings for C$3.85 billion ($2.8 billion).

1 min read
Big Tech

Apple Makes Strides in India as Global Competition Heats Up

Photo by Trac Vu via Unsplash

As the global market becomes increasingly competitive, Apple has turned toward India as a way to diversify its revenue stream.

2 min read
Advisor Upside

Morningstar CEO: ‘The Wolf’ Is Coming For AUM Fees

Photo via Morningstar

Stocks generated a healthy 12% annualized return over the past decade, but AUM fees may come into question in a downturn.

2 min read
Advisor Upside

BlackRock Hits Record AUM as Wall Street Banks Report Solid Earnings

Photo by Hapabapa via iStock

CEO Larry Fink attributed the healthy performance to growth in private markets, retail active fixed income, and the company’s ETF business.

1 min read
Advisor Upside

Goldman’s $1T AI Problem

Photo by Ken Lund via CC BY-SA 2.0

For all the money flooding into AI, it could tackle more pressing issues than teaching robots to flip burgers.

2 min read
Patent Drop

Roku Personalization Patent Highlights AI’s Growing Role in Entertainment

Photo via U.S. Patent and Trademark Office

Roku wants to personalize movie night with generative AI.

2 min read
Patent Drop

Meta’s Blood-Pressure Monitor Could Add to Health Tech Patent Strategy

Photo via U.S. Patent and Trademark Office

Meta may add health tracking to its smart watch ambitions.

2 min read
Patent Drop

Nvidia AI Watermarking Patent Could Help Separate Real from Fake

Photo via U.S. Patent and Trademark Office

The benefits of watermarking AI are clear: “It’s preventing fraud, preventing misinformation and disinformation.

2 min read
Artificial Intelligence

OpenAI Whistleblowers File SEC Complaint over NDAs

Photo by Jernej Furman via CC BY 2.0

OpenAI allegedly issued overly-restrictive non-disclosure agreements that could penalize anyone who blows the whistle to government agencies.

1 min read
International Economics

Greece Lengthens the Workweek While the UK Four-Day Week Gathers Steam

Photo by Pedro Szekely via CC BY 2.0

Greece’s government put new labor laws into effect that mean workers can be asked to work a six-day workweek.

1 min read

FA Upside

Financial advisor news, market insights, and practice management essentials.

Eli Lilly’s Weight-Loss Drug Finally Off FDA Shortage List

Photo by Jetcityimage via iStock

1 min read
Climate Change Forces Starbucks Deeper into Coffee R&D

Photo by Shelby Murphy Figueroa via Unsplash

2 min read
Dock Workers Agree to Pause Historic Strike To Negotiate New Contract

Photo by Chuttersnap via Unsplash

2 min read