Tesla delivered $3.3 billion in profits during the first three months of 2022, a massive increase from the sub-$500M figure during the same period a year before. Still, the company also told investors on Wednesday that “it expected its factories to run below capacity for the rest of 2022” as chip shortages and supply-chain issues linked to Covid-related shutdowns in China and elsewhere plagued Tesla along with the rest of the auto industry - NYTimes and WSJ and Bloomberg and MarketWatch
24 hours or so of hindsight following Netflix’s dismal Q1 performance has prompted discussion of whether the company’s challenges are a sign of things to come for the rest of the increasingly saturated streaming industry - NYTimes and Bloomberg
The idea of adding commercials to their offerings seems to have at least softened the blow (for advertisers, that is) - WSJ
After decades of special tax and governmental status in Florida, Disney’s recent belated but public opposition to a new state law “that among many things restricts classroom instruction through third grade on sexual orientation and gender identity” has prompted state legislators to begin the process of stripping Big Mouse of its special status. The latest on the drama for Bob Chapek and the WDW faithful - NYTimes and WSJ and MarketWatch
Apple Store workers in the Atlanta area are the latest to pick up the mantle of a pro-union movement sweeping the country at the moment, filing a petition this week to hold a union election. If successful, the effort would be the first union formed at an Apple retail store in the U.S. - NYTimes and Bloomberg
Russia’s luck in avoiding default on its sovereign debts through a variety of creative efforts (including payments in rubles) may be coming to an end - WSJ
Meanwhile, Treasury officials are doubling down on efforts to address “Russia’s efforts to evade sanctions by imposing a new set of measures targeting a Russian bank, a cryptocurrency mining company and a network of individuals who are accused of facilitating illicit transactions” - NYTimes
The latest from the criminal fraud trial of Sunny Balwani, former Theranos lieutenant, where on Wednesday Judge Edward Davila stamped out defense efforts to shift the trial’s focus to the exploits of one of the witnesses, an ex-Theranos lab director – Law360
I’m down for just about anything Caity Weaver’s putting into the universe. But this dive into the trendy world of #VanLife that seems everywhere on Instagram and YouTube these days—well, it didn’t disappoint - NYTimes
Stay safe,
MDR
The Robins Kaplan Financial Daily Dose features top stories and latest news headlines in financial markets, banking, securities and technology topics.
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