Are Banks More Powerful Than Governments?

Lululemon Calls Truce With Founder Chip Wilson After Stock Collapse, Leggings Quality Implosion Lululemon has settled its proxy fight with founder Chip Wilson, ending one of the year's top proxy battles, according to Reuters. This follows a fiery letter to shareholders from Wilson earlier this year, calling for activism, as the athletic apparel retailer has seen its shares collapse, lost market share in the leggings market, and become entangled in multiple see-through leggings quality-control issues with customers. Reuters first reported Tuesday evening that Lululemon and Wilson were nearing a settlement that...

UK Gilt Yields Near 30-Year Highs As Political/Geopolitical Fears Spark Trussian Chaos Anyone has been in the bond markets for more than a minute remembers the fall of 2022 when UK PM Liz Truss was unceremoniously dumped by her own party after serving 45 days in office as the Gilts market collapsed at unprecedented speed amid economic chaos triggered by her 'mini-budget' (and multiple ministerial resignations). The reason we reminisce is that this morning - after a long-weekend closed - UK Gilt yields are soaring once again... to their highest level...

Israeli troops are carrying out a growing number of operations in southwestern Syria in recent days, with two young men reportedly captured on farms in the Quneitra Governorate on Wednesday, and yet more operations happening Thursday. An Israeli patrol set up a checkpoint in Quneitra on Thursday and was searching random passersby during the afternoon. […]