Extra, Extra

Fitch, Please: Wondering what happened to your stock portfolio today? Here’s a clue: “Fitch downgraded the U.S. credit rating due to fiscal concerns, a deterioration in U.S governance, as well as political polarization reflected partly by the Jan. 6 insurrection, Richard Francis, a senior director at Fitch Ratings, told Reuters on Wednesday.”

+ Pittsburgh Justice: “The gunman who stormed a synagogue in the heart of Pittsburgh’s Jewish community and killed 11 worshippers will be sentenced to death for perpetrating the deadliest antisemitic attack in U.S. history.”

+ Don’t Be Fresh: “With its cashier-less checkout and computerized shopping carts, Amazon Fresh was supposed to revolutionize grocery shopping when it launched at the height of the coronavirus pandemic. But the high-tech stores have proved more frustrating than fun for some customers, current and former employees say. In February, as the company cut costs and laid off workers amid economic head winds, Amazon pressed pause on its grocery expansion, halting projects in more than a dozen locations and leaving prospective landlords and locals in the lurch.” WaPo: Amazon mastered the internet. Grocery stores are a different story. (I’m only an occasional customer, but Whole Foods also seems markedly worse since Amazon took over…)

+ Mo Money, Mo Problems: “With its dual revenue stream — fees from cable subscribers and advertising — the sports juggernaut continues to earn billions of dollars for Disney. In the first six months of the 2023 fiscal year, Disney’s cable networks division, which is anchored by ESPN and its spinoff channels, generated $14 billion in revenue and $3 billion in profit.” But that’s not enough these days. Even in an era when live sports seems to be the last of TV’s selling points, ESPN is in trouble. NYT (Gift Article): How ESPN Went From Disney’s Financial Engine to Its Problem.

+ Canadian Achin’: “Canadian Prime Minister Justin Trudeau and his wife, Sophie Gregoire Trudeau, announced Wednesday that they are separating after 18 years of marriage.”

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