Market Beats | Goldman Sees Potential for Sharp Stock Rebound; Air Canada CEO Resigns Amid PR Fiasco; Sysco to Acquire Jetro for $29.1 Billion; Uber Acquires Luxury Chauffeur App Blacklane; SEC Moves Toward Semiannual Disclosures; Vance Leads 2028 Republican Straw Poll; Epstein Survivor Sues US and Google Over Privacy

—— Goldman Sees Potential for Sharp Stock Rebound; Air Canada CEO Resigns Amid PR Fiasco; Sysco to Acquire Jetro for $29.1 Billion; Uber Acquires Luxury Chauffeur App Blacklane; SEC Moves Toward Semiannual Disclosures; Vance Leads 2028 Republican Straw Poll; Epstein Survivor Sues US and Google Over Privacy

1. Oaktree meets all redemption requests for $7.7 billion fund

Hedge funds’ heavy short selling and systemic disposals have created the potential for a sharp stock market rally if the conflict in Iran de-escalates, according to Goldman Sachs Group Inc. traders. Global equity holdings have been cut for a sixth consecutive week, with net selling observed across all major regions. In Europe, short exposure in macro products has reached 11%, a 10-year high, as markets react to broader economic and geopolitical themes.

The selloff, fueled by the Middle East conflict, has pushed major indices toward technically oversold levels. The Nasdaq 100 has entered a formal correction, while Europe’s Stoxx 600 is on track for its worst month in six years. Goldman’s team noted that “signs of capitulation” are emerging, suggesting that market pessimism may be nearing its peak.

Over the past six weeks, net selling in US stocks reached the third-largest level in a decade, approaching the intensity seen during the Covid-19 pandemic and the April 2025 selloff.

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2. Air Canada CEO Resigns Amid PR Fiasco

Air Canada Chief Executive Officer Michael Rousseau has announced his retirement by the end of the third quarter following a public relations crisis triggered by an English-language video regarding a fatal runway collision at New York’s LaGuardia Airport. The March 22 accident involved an Air Canada Express jet from Montreal and resulted in the deaths of both pilots. Rousseau’s video statement drew intense criticism because he spoke only English, using French only for a brief “bonjour” and “merci,” despite French subtitles being provided.

The incident sparked a furor in Quebec, leading the National Assembly to vote 92-0 in favor of a motion calling for his resignation. Critics highlighted that one of the deceased pilots, Antoine Forest, was from Quebec and noted that the Montreal-based airline is legally required to provide services in both official languages.

Canadian Prime Minister Mark Carney also lambasted Rousseau last week, citing a “lack of judgment and lack of compassion” in his handling of the tragedy.

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3. Sysco to Acquire Jetro for $29.1 Billion

Sysco Corp. has agreed to acquire Jetro Restaurant Depot LLC for $29.1 billion, including debt, in a deal that will create one of the largest food-service groups in the US. Jetro shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares, representing a multiple of more than 14 times Jetro’s operating income. Founded by 94-year-old billionaire Nathan Kirsh, Jetro is the largest cash-and-carry wholesaler in the US, operating 166 warehouse stores across 35 states.

While Sysco currently serves large-scale clients like hospitals and schools, Jetro provides a critical supply line for over 725,000 smaller, independent restaurant owners. Sysco stated that the acquisition provides strategic access to the higher-margin cash-and-carry channel.

Following the announcement, Sysco shares fell 4.7% in premarket trading in New York, despite having gained 11% since the start of the year.

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4. Uber Acquires Luxury Chauffeur App Blacklane

Uber Technologies Inc. has acquired the chauffeur booking app Blacklane, marking its latest move to capture the high-end travel market. The deal, announced on Monday, aims to expand Uber’s offerings for business executives and wealthy consumers, a segment showing rapid growth. The transaction is expected to close by late 2026, though financial terms were not disclosed. Berlin-based Blacklane, backed by Mercedes-Benz Mobility AG and Saudi Arabia’s Public Investment Fund, operates in over 500 cities across more than 60 countries.

The acquisition comes as competition intensifies in the luxury ride-hailing sector, following Wheely’s expansion into New York and Lyft’s recent purchase of TBR Global. Uber recently launched “Uber Elite,” a premium chauffeur service currently available in Los Angeles and San Francisco, with plans to expand to New York City soon.

Uber’s premium segment, which includes Uber Black and SUV options, already generates over $10 billion in annualized gross bookings, representing a 35% increase from the previous year.

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5. SEC Moves Toward Semiannual Disclosures

The White House is currently reviewing a proposal from the Securities and Exchange Commission (SEC) regarding semiannual corporate disclosures, a key signal that the agency is nearing a public release of the measure. The Office of Management and Budget received the draft on Friday. Once the review concludes, the commission can vote to release the plan for public feedback, followed by a final vote months later to implement the rule.

While specific details remain limited, SEC Chairman Paul Atkins recently suggested that the frequency of disclosures could be scaled based on a firm’s size. the overhaul follows President Donald Trump’s call last year to shift from quarterly to semiannual reporting. Atkins has pledged to fast-track the plan, arguing it could save companies significant time and costs, though transparency advocates maintain that frequent reporting is vital for investor decision-making.

Under an executive order signed by Trump last year, the SEC is now required to submit draft regulations for White House review before publication.

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6. Vance Leads 2028 Republican Straw Poll

US Vice President JD Vance remains the top choice among conservative voters to be the Republican Party’s presidential nominee in 2028, according to a straw poll at this week’s Conservative Political Action Conference (CPAC). Vance secured 53% of the support from attendees, marking his second consecutive year at the top of the poll. However, Secretary of State Marco Rubio has emerged as a significant challenger, with his support surging to 35%.

The results suggest a shift in the political landscape, as Vance’s support dropped from 61% last year, while Rubio rose sharply from just 3%. Rubio has taken a central role in the Trump administration as a key architect of interventionist foreign policy, including the conflict in Iran. Other prospective candidates, such as Florida Governor Ron DeSantis and Senator Ted Cruz, trailed significantly with single-digit support.

While the 2028 primary season is still nearly two years away, these findings signal an increasingly competitive field within Trump’s inner circle to become the party’s next standard-bearer.

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7. Epstein Survivor Sues US and Google Over Privacy

A woman who claims she was sexually abused by Jeffrey Epstein has filed a class-action lawsuit, alleging that the US government and Alphabet Inc.’s Google failed to protect her identity during the release of millions of pages of records. The lawsuit claims the Department of Justice violated federal law by failing to redact personal identifying information—including names, phone numbers, and photos—when disclosing records required by the Epstein Files Transparency Act.

The complaint alleges that the United States prioritized the speed of disclosure over survivor privacy, adopting a “release now, retract later” approach that made the exposure of sensitive data inevitable. While the government has since removed some documents from its own website, the lawsuit contends that unredacted versions remain accessible on public sites like Google.

Attorneys for the plaintiff argued that the government has done nothing to demand the removal of these files, showing a reckless disregard for the safety and privacy of the victims.

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