Top news
“Salt Typhoon” may have stolen data on nearly every American
Hackers backed by China now have data on nearly every American citizen and their years-long attack on web infrastructure targets allows “Chinese intelligence services to exploit global communication networks to track targets including politicians, spies and activists,” the NYT reports.
Job market slowing
The Bureau of Labor Statistics will release the latest jobs numbers (so-called nonfarm payrolls) tomorrow. Yesterday, the government reported on new job openings, revealing that the U.S. economy now has the slowest hiring market in nearly a year, a clear sign that hiring momentum continues to cool.
Figma stock drops 14%
Five weeks after going public with a stunning 250% first-day pop, Figma is coming back down to Earth. Shares of design software company Figma plunged 14% in extended trading, as investors took a dim view of Figma’s first-quarter earnings report.
Trump uses LinkedIn to troll former White House staff
The White House replaced the official photo on its LinkedIn page with a portrait of President Trump, so that the resumes of any former West Wing staffer—including President Obama—now feature Trump’s face.
McDonald’s CEO on the “two-tier economy”
In a recent interview with CNBC, McDonald’s CEO Chris Kempczinski argued that there exists a “two-tier economy”: one that’s good for those making upwards of $100,000 but pushing those making less to cut more of their spending.
Buffett on Kraft Heinz split
Kraft Heinz is officially splitting into two companies, and Warren Buffett, who was partly responsible for bringing the two companies together, says he’s “disappointed.” “It certainly didn’t turn out to be a brilliant idea to put them together, but I don’t think taking them apart will fix it,” he told CNBC.
Epstein survivors offer “client list” names
Women abused by the disgraced financier Jeffrey Epstein say they will publish their own list of people linked to their abuse if the Department of Justice does not disclose everything it knows about those in Epstein’s circle. Separately, Rep. Marjorie Taylor Greene (R-Ga.) said she would be willing to read a list of names under the constitutional immunity of Congress: “If they want to give me a list, I will walk in that Capitol on the House floor and I'll say every damn name that abused these women.” President Trump opposed the moves. “This is a Democrat hoax that never ends,” he said on Wednesday.
The markets
S&P 500 futures were up 0.16% this morning. The index closed up 0.51% in its last trading session. STOXX Europe 600 was up 0.25% in early trading. The U.K.’s FTSE 100 was flat in early trading. Japan’s Nikkei 225 was up 1.53%. China’s CSI 300 was down 2.12%. The South Korea KOSPI was up 0.52%. India’s Nifty 50 was up 0.24% before the end of the session. Bitcoin sank to $110.7K.
Around the watercooler
One out of every 4 homes is at ‘severe or extreme’ climate risk, study says by Nick Lichtenberg
Trump says the video of garbage bags dropped out of a White House window was AI-generated, ironically adding, people ‘blame AI’ to cover up bad things by Dave Smith
A Trump loss in his tariff court case could mean a $150 billion refund for American businesses. Here’s how they could get their money back by Marco Quiroz-Gutierrez
New Nestlé CEO joined the company straight out of college—like Mary Barra and Doug McMillon, he climbed all the way to the top at a single company by Preston Fore
CEO Daily is compiled and edited by Joey Abrams and Jim Edwards.