Biden's Pledge & McDonald's Move

Heyo, reader! We hope you’re having a good Saturday morning!

2️⃣ This Morning’s Two Reports:

• 🍔 McDonald's Takes Over Israeli Outlets

• 🚧 Biden Commits to Swift Baltimore Bridge Rebuild

📊 Market Snapshot

• DOW: 🔼 0.80% (38,904.04)

• S&P 500: 🔼 1.11% (5,204.34)

• NASDAQ: 🔼 1.24% (16,248.52)

• BTC: 🔽 1.27% (67,655.40)

• ETH: 🔽 0.35% (3,316.71)

📎 Market Clips

• Consumer enthusiasm for french fries remains strong, with the stable fry attachment rate indicating resilience

• Miscalculating China's role in the AI 'multi-decade arms race' could prove to be an error, according to an analyst

_{*Stock numbers as of market close, cryptocurrency as of 7:00pm EST yesterday. Source for Market Clips.}

First Report

🍔 McDonald's Takes Over Israeli Outlets

In a strategic move to regain control and mitigate boycott impacts, McDonald's Corporation announced its acquisition of all 225 of its franchise restaurants in Israel from Alonyal Ltd. This decision comes after a significant drop in Middle East revenue triggered by a pro-Palestinian boycott, which was sparked by allegations of the company's perceived support for Israel - a claim McDonald's vehemently denies. The boycott, fueled by the franchise's actions to support Israeli soldiers during recent conflicts, has not only affected sales but also the brand's image across Arab and Muslim-majority countries. Despite attempts to distance itself from the actions of its Israeli franchisee, McDonald's has seen a dramatic plunge in sales, leading to a comprehensive strategy to take direct control over its operations in Israel. 🇮🇱🍟

TL;DR ⏳: McDonald's buys its Israeli franchise to combat sales dive and boycott backlash, aiming for brand damage control amid Middle East tensions.

Second Report

🚧 Biden Commits to Swift Baltimore Bridge Rebuild

Following the tragic collapse of a key bridge in Baltimore that resulted in the loss of six lives and disrupted one of the East Coast's busiest ports, President Joe Biden has pledged an aggressive recovery effort. The collapse, which also stranded a significant cargo ship and affected commerce for major companies like Amazon, has prompted a federal commitment to a rapid rebuild, utilizing union labor and American steel. With $60 million already earmarked for initial cleanup, the total recovery cost is anticipated to escalate, potentially reaching $1 billion. Biden's visit to the disaster site underscored a strong federal support promise, including covering the full cost of the bridge reconstruction, emphasizing the port's crucial economic role and the need for a collective response from all stakeholders. 🏗️⛴️

TL;DR ⏳: Biden vows a fast, federally funded rebuild of the collapsed Baltimore bridge, emphasizing the port's vital economic importance and commitment to recovery with union labor and American steel.

⚡ Quick Hits

1. 🌍 East coast shaken by 4.8 magnitude earthquake in New Jersey

2. ⚖️ Scrutiny increases for judge in Trump classified documents case

3. 🚨 US braces for potential Iranian attack on American or Israeli assets next week

4. 🔍 Robert F Kennedy Jr commits to probing January 6 prosecutions for political bias

5. 🤝 Biden urges Egypt and Qatar to persuade Hamas for hostage deal with Israel

6. 🏦 Trump’s $50 million gala expected to outdo Biden’s fundraiser

7. ✂️ Israeli military dismisses two senior officers after misconduct in strike on aid workers

8. 🏪 99 Cents Only stores announce closure across the US

9. 🎬 Paramount and Skydance begin exclusive merger discussions, overlooking Apollo’s $26 billion proposal

10. 👷 UAW moves closer to union vote at second nonunion automaker

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