Wednesday☕️

Wednesday☕️

Trending:

  • Libyan Floods
  • MGM Cyber Attack
  • U.S. vs Google

Markets:

  • Yesterday's U.S. stock market:
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  • Yesterday's commodity market:
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  • Yesterday's crypto market:
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Libyan Floods:

  • The Libyan port city of Derna experienced catastrophic flooding after two dams failed. Local officials and the Red Cross estimated over 10,000 people missing, with a confirmed death toll surpassing 5,300. Many bodies were discovered by the sea or left where floodwaters receded, with about 25% of Derna now destroyed or submerged.
  • Videos on social media depicted the city's situation, with waters sweeping cars and homes. A resident shared the intense force of the flood, comparing it to the impact of an atomic bomb. This disaster has highlighted the city's lack of preparedness, despite earlier warnings about the potential dam bursts.
  • Moreover, debates rage about the failure to evacuate Derna, and the mismanagement of the crisis is seen in the context of Libya's political strife and infrastructural neglect since the 2011 uprising. The Norwegian Refugee Council emphasized the severe impact on impoverished communities, while criticism grew over the insufficient relief efforts and lack of prior warnings.
  • An emergency medical supply plane has been dispatched to help flood victims, but the overall situation remains dire. The flooding, attributed to Storm Daniel, not only devastated neighborhoods but also disrupted communication networks. Some experts believe that the tragedy underscores larger issues of governance, corruption, and lack of investment in essential infrastructure in Libya.

MGM Cyberattack:

  • MGM Hotels & Casinos experienced a cyberattack that forced the shutdown of its computer systems across several properties. Working with cybersecurity professionals, MGM Resorts International is investigating the incident and has also informed law enforcement.
  • Initial reports from guests via social media suggest the attack has affected services like ATMs, slot machines, and digital key access to rooms. While the full scope of the breach is yet to be determined, MGM stated that their primary services are still operational. Affected properties include notable locations in Las Vegas and New York.
  • For the time being, guests are encouraged to make reservations by phone. MGM's previous cybersecurity incident in 2019 saw the personal data of 142 million guests leaked on the dark web. The current situation remains under review with the FBI being informed. There has been no official comment from MGM.

U.S. vs Google:

  • On Monday, a legal battle commenced against Google. Holding 90% of the search engine market in the U.S., Google faced a lawsuit in 2020. The US government claimed Google compensated companies, including Apple, with billions to set Google Search as their default engine, leading to a monopolistic dominance.
  • In response, Google counters by asserting that its search engine stands out due to its superior quality compared to rivals. The company plans to bring forward witnesses, including figures from Apple, to vouch for their decision to partner with Google. This legal action is viewed as the most significant tech antitrust case in the past quarter-century.

Statistic:

Top 50 companies by market cap:

  1. 🇺🇸 Apple: $2.756T
  2. 🇺🇸 Microsoft: $2.464T
  3. 🇸🇦 Saudi Aramco: $2.149T
  4. 🇺🇸 Alphabet (Google): $1.710T
  5. 🇺🇸 Amazon: $1.457T
  6. 🇺🇸 NVIDIA: $1.108T
  7. 🇺🇸 Tesla: $848.97B
  8. 🇺🇸 Berkshire Hathaway: $802.53B
  9. 🇺🇸 Meta Platforms: $776.21B
  10. 🇺🇸 Eli Lilly: $568.91B
  11. 🇺🇸 Visa: $514.33B
  12. 🇹🇼 TSMC: $469.26B
  13. 🇺🇸 Exxon Mobil: $468.37B
  14. 🇺🇸 UnitedHealth: $444.53B
  15. 🇺🇸 Walmart: $442.81B
  16. 🇩🇰 Novo Nordisk: $440.22B
  17. 🇺🇸 JPMorgan Chase: $425.27B
  18. 🇫🇷 LVMH: $413.15B
  19. 🇨🇳 Tencent: $395.09B
  20. 🇺🇸 Johnson & Johnson: $393.90B
  21. 🇺🇸 Mastercard: $392.21B
  22. 🇺🇸 Procter & Gamble: $358.31B
  23. 🇰🇷 Samsung: $355.20B
  24. 🇺🇸 Broadcom: $348.56B
  25. 🇺🇸 Home Depot: $326.30B
  26. 🇺🇸 Chevron: $318.20B
  27. 🇨🇭 Nestlé: $317.01B
  28. 🇨🇳 Kweichow Moutai: $314.90B
  29. 🇺🇸 Oracle: $297.51B
  30. 🇺🇸 Merck: $276.64B
  31. 🇺🇸 AbbVie: $263.46B
  32. 🇺🇸 Coca-Cola: $252.10B
  33. 🇺🇸 Costco: $247.62B
  34. 🇺🇸 Adobe: $247.13B
  35. 🇺🇸 Pepsico: $245.40B
  36. 🇯🇵 Toyota: $245.30B
  37. 🇳🇱 ASML: $243.43B
  38. 🇦🇪 International Holding Company: $239.44B
  39. 🇨🇭 Roche: $232.81B
  40. 🇫🇷 L'Oréal: $231.80B
  41. 🇺🇸 Bank of America: $230.20B
  42. 🇺🇸 Cisco: $229.79B
  43. 🇨🇳 Alibaba: $227.69B
  44. 🇺🇸 Salesforce: $215.67B
  45. 🇬🇧 Shell: $213.34B
  46. 🇬🇧 AstraZeneca: $212.01B
  47. 🇨🇳 ICBC: $211.04B
  48. 🇫🇷 Hermès: $210.77B
  49. 🇨🇭 Novartis: $208.19B
  50. 🇺🇸 McDonald: $204.57B

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