Norway Core Inflation Rises to 3% in August 
ECB Rate Hike in Focus as Oil Tops $100 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
China Inflation Accelerates in August as CPI, PPI Rise 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Gold Prices Rise as Yen Rally Weakens Dollar 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
South Korea GDP Surges on Chip and AI Boom 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Asian Stocks Mixed as Korean Chipmakers Rally 
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Starboard Value’s Investment in Kenvue Inc.
Activist hedge fund Starboard Value has taken a "sizeable" stake in Kenvue Inc., according to *The Wall Street Journal*. While the exact percentage of the investment is undisclosed, Starboard is pushing for changes aimed at boosting Kenvue's stock price. Kenvue, which was spun off from Johnson & Johnson in 2023, has seen its stock underperform both its industry peers and the broader market since its debut.
Kenvue’s Strong Consumer Brands
Kenvue boasts several well-known consumer brands, such as Tylenol, Listerine, and Band-Aid. Despite its strong portfolio, Kenvue's stock performance has been relatively muted in 2024, while the S&P 500 has surged by 24%. Starboard believes that these valuable brands are not yet reflected in the company’s current valuation.
Starboard’s Broader Strategy
This is not the first major move by Starboard Value. The hedge fund, led by CEO Jeff Smith, recently acquired a $1 billion stake in pharmaceutical giant Pfizer and has been involved in advocating for changes at tech companies like Salesforce, Autodesk, and Match Group.
