Opening Bell: 3.21.24

DOJ sues Apple over iPhone monopoly in landmark antitrust case [CNBC]
The lawsuit claims that Apple’s anti-competitive practices prolong past the iPhone and Apple Watch companies, citing Apple’s promoting, browser, FaceTime and information choices…. “This anticompetitive conduct is designed to take care of Apple’s monopoly energy whereas extracting as a lot income as potential,” the criticism mentioned.

The Fed Stays the Course on Rates [DealBook]
The futures market Thursday morning gave an 84 p.c probability of a June lower, up from 60 p.c on Wednesday…. The Fed itself is split. Ten of the 19 policymakers see the prime lending price falling to 4.625 p.c or decrease by the top of the yr. IT would take only one defection from the dovish camp to probably scupper the central financial institution’s three-cut outlook.

Apollo Offers $11 Billion for Paramount’s Hollywood Studio [WSJ]
The bid comes as an impartial committee of the corporate’s administrators is reviewing one other provide from Skydance Media to merge with all of Paramount, which additionally owns CBS, Nickelodeon and a lot of different cable networks…. Paramount International’s controlling shareholder, Shari Redstone, and different board members have resisted promoting the studio, which they contemplate the crown jewel of the corporate. Redstone, who’s open to promoting Paramount in its entirety, must comply with breaking apart the corporate and permitting a sale of the studio to proceed.

Biden Targets Private Jets in Hunt for Tax Revenue [NYT]
Firms have lengthy benefited from legal guidelines that enable them to jot down off the price of jets extra shortly than industrial airways can, and to pay much less in gasoline taxes…. The White Home estimates that the proposals would increase $4 billion over a decade.

Goldman Sachs Raises $700 Million to Co-Invest With Hedge Funds [Bloomberg]
Union Bridge Companions I, because the fund is understood, will work with an exterior community of managers to allocate the cash into their high-conviction concepts….

Brazen on-the-run crypto coward GRINS as he refuses to apologize for blowing through $3.5 BILLION in investors’ cash before fund imploded – as he breaks cover from secret location while being hunted by America, the US Virgin Islands and Singaporean police [Daily Mail]
“Am I sorry for an organization going bankrupt? No, like, firms go bankrupt, virtually each firm goes bankrupt, proper?” he mentioned. 

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