Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google 
UK House Prices Hold Steady in June as Annual Growth Misses Forecasts 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Super Micro Employees Detained in Taiwan AI Server Export Investigation 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Michael Burry Shorts Tesla at $416 as AI and Semiconductor Bearish Bets Expand 
Nvidia Stock Rises as SemiAnalysis Sees AI Data Center Revenue Beating Wall Street Forecasts 
Buffett Delays Gates Foundation Donation Pending Epstein Ties Review 
South Korea Warns Won Is Undervalued, Boosts FX Coordination With Japan 
US Dollar Rises as Fed Rate Outlook Stays Hawkish, Euro Slips and Yen Near 40-Year Low 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness 
US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus 
Asian Currencies Slip as Dollar Holds Firm, Yen Near Four-Decade Low Ahead of Fed, Jobs Data 
India Manufacturing PMI Slows in June as Demand Weakens Despite Lower Cost Pressures 
Nike and Amazon may place bids for the acquisition of Peloton Interactive. The two major American companies are potential buyers for the troubled exercise equipment company.
An insider stated that Jeff Bezos’ Amazon received an offer from Peloton that is struggling to keep its business afloat after being affected by the pandemic and facing various issues. According to CNN Business, the e-commerce retail giant is exploring this offer and is currently talking with advisers to know if it can proceed and how.
Then again, despite the offer, it was said that Peloton has yet to decide if it will consider the sale. Perhaps, the company will make a decision once it receives a good deal.
Aside from Amazon, it was reported that Nike is also weighing up a bid for Peloton. Sources who are familiar with the matter disclosed that the considerations are preliminary at this time, and the footwear company has not held any talks with Peloton yet. The Wall Street Journal was the first to report about potential companies being considered to make a deal with Peloton.
At any rate, the treadmill maker is being pressured by an activist investor, Blackwells Capital LLC, to fire its chief executive officer, John Foley. The investor accused the CEO of holding on to excessive inventory, deals that set high fixed costs, and misleading investors concerning the need to raise capital.
Blackwells Capital also blasted Foley as he hired his own wife to be a key executive in Peloton and signed a 20-year lease for office space in New York. The investor mentioned many other “errors” that the CEO committed, so they want him removed from his post.
Now the investment firm is also urging the board to just sell Peloton. It suggested Walt Disney Co., Apple, Sony Group, and Nike Inc. as the companies that should be considered as potential buyers.
Meanwhile, Peloton’s shares climbed after the reports mentioned Nike and Amazon as possible buyers of the exercising equipment company. The share increased more than 30% in extended trading last Friday, shortly after the report was published. Then again, an insider told CNBC that Peloton is not yet officially running a sales process, but there is real interest in the company.
