(Bloomberg) — Good day! We trust you relished some extra sleep before tonight’s time shift claims an hour of your precious slumber. Benjamin Franklin is often credited with inspiring the concept of adjusting clocks to maximize evening light (and minimize candle usage).
Top Stories on Bloomberg
Significant capital inflows into Nigeria indicate promising results from Tinubu’s reforms.
A United Airlines plane veers off the runway, marking the third Boeing-related mishap this week.
Former Treasury Secretary Larry Summers criticizes the Federal Reserve’s stance on interest rates and neutral policy, cautioning against rate-cut expectations.
Taiwan Semiconductor Manufacturing Co. (TSMC) stands to secure over $5 billion in grants for its new US chip plant.
Italian women are challenging traditional stereotypes of motherhood.
The S&P 500 Index experienced a modest 0.3% decline this week, its first weekly downturn in three weeks. However, the index remains 7.4% higher for the year, with household wealth reaching record levels in 2023, according to Federal Reserve data. Nonetheless, concerns arise as another regional bank stock plunge echoes the aftermath of Silicon Valley Bank’s collapse one year ago.
For those intrigued by cryptocurrency, considerations may arise regarding the optimal timing for investment. Bloomberg’s Charlie Wells discusses the nuanced perspectives surrounding bitcoin investments. Additionally, the burgeoning memecoin market, now valued at $50 billion, is led by Dogecoin with a market capitalization exceeding $22 billion.
Meanwhile, crypto miners are ramping up equipment acquisitions to enhance efficiency and secure favorable electricity rates. According to Coin Metrics, miners consumed a record 19.6 gigawatts of power, a significant increase from 12.1 gigawatts during the same period in 2023. This surge in power consumption mirrors the electricity capacity sufficient to power approximately 3.8 million Texas homes, where numerous mining operations are situated. Concerning Texas, while the blaze in the Panhandle may soon extinguish, legal ramifications could persist for Xcel Energy.
Former NFL player Andrew Hawkins reflects on missed investment opportunities and shares insights gained as the co-founder of sports technology and gaming startup StatusPro in an illuminating Q&A.
Bloomberg columnist Nia-Malika Henderson commends President Joe Biden’s State of the Union address for its forceful, combative, sharp, and humorous delivery. Additionally, Biden’s reelection campaign releases a television ad humorously addressing his age.
Democrats spotlight access to in-vitro fertilization (IVF) as a significant vulnerability for the GOP. However, it’s noteworthy that the seven pivotal swing states for the 2024 presidential election face more economic challenges compared to the national average.
Lastly, a condominium board representing owners of 443 Greenwich Street in Manhattan’s Tribeca neighborhood files a $376 million lawsuit against its architect and developer, citing structural issues such as crumbling walls and a leaky roof. Notable past residents include Harry Styles, Jennifer Lawrence, and Meg Ryan, drawn to the building’s purported “paparazzi-proof” underground garage. Tune in tomorrow for a preview of the week ahead.