More on how the clogged Suez Canal is combining with “a burst of demand for consumer goods” thanks to a resurgent U.S. economy is “heaping pressure on already strained supply chains” and potentially push prices higher in coming weeks - WSJ and Bloomberg and Marketplace
And, specifically, what it means for oil – Bloomberg and MarketWatch
Our Big Tech overlords will be [virtually] on the Hill today for a House Energy and Commerce Committee hearing aimed at exploring “social media’s role in promoting extremism and misinformation.” Zuck’s expected to use the forum to discuss his ideas for a revamped Section 230 - WSJ and MarketWatch
The Upshot has collected hot takes from notable financial figures about the “Great Overheating Debate of 2021”—that is, will the economy overheat in the coming months because of the recent $1.9T Covid-relief bill and other spending measures and, if so, how will we know? - NYTimes
Also on the table for discussion (thanks to the one-year anniversary of the current bull market): exactly when does the “unbridled enthusiasm” that’s led investors to push the S&P 500 up 75% since last March venture into “broad-based bubble” territory? Some thoughts - NYTimes
The SEC has issued a pending rule under the Holding Foreign Companies Accountable Act would “require new disclosures that could lead to the delisting of Chinese firms evading U.S. accounting oversight”—an issue brought to the fore by the recent Luckin Coffee scandal—for U.S. exchange-listed firms that prevent the Public Company Accounting Oversight Board from fully inspecting – Law360
Slack is hastily walking back recently unveiled plans to let “users invite to a conversation anyone else running the app.” Touted as a “way to make Slack even more of a replacement for email by making it easier to engage with people across” the app, the announcement was immediately criticized over concerns “it could inadvertently facilitate harassment” and abusive messaging - WSJ and Mashable and TechCrunch
While Coinbase preps to make its public debut, dozens of Conbase customers are raising concerns about the crypto exchange’s inability to address basic user complaints about lax security and missing cryptocurrencies compounded by a company that “failed to detect the issues and did little to help” - NYTimes
The Journal’s not done going to the Greensill well yet. Today’s installment explores how Lex “relied on the apparatus of Wall Street to fuel its expansion” despite big talk about “outmaneuver[ing] big banks” - WSJ
Tribune Publishing’s board has shrugged off a late offer by Maryland hotel magnate Stewart Bainum in favor of the purchase offer from hedge fund Alden Global Capital, despite Bainum’s higher bid—the latest move in the drama-filled battle for Tribune’s newspaper empire - NYTimes
Rest easy, because 2021 is officially saved. Dyson has graced us with a LASER VACUUM - Mashable
Stay safe,
MDR
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