—— Netflix cooperates with Microsoft to promote cheap services; Musk has a lawsuit against investors; New York City releases emergency video of nuclear attack; New York developer builds $300 million office building; Sunak wins the first round of British Prime Minister election; Bill Gates donates another $20 billion; U.S. rents rose by a 36-year record in June.

1. Netflix cooperates with Microsoft to promote cheap services

This week, streaming giant Netflix announced that it has officially entered into a partnership with Microsoft Corp., which will provide the former with technical and sales support and help Netflix launch low-priced, ad-supported mobile phones. Subscription service.

Netflix’s chief operating officer Greg Peters believes that Microsoft’s ability has long been unquestioned, the company not only has a strong technical support and sales team but also has good privacy protection.

Previously, Netflix had also negotiated cooperation with companies such as Google and Comcast but ultimately chose Microsoft.

Greg said that Netflix’s long-term development goal is to provide users with a better movie viewing experience than traditional TV and also provide a good publicity platform for advertising companies.

With the launch of an ad-supported subscription service, Netflix could open up a whole new point of profit


2. Musk’s lawsuit, investors have a headache

Three months ago, Tesla CEO Elon Musk announced that he would acquire Twitter and sell about $8.5 billion in Tesla stock.

However, since Musk announced the acquisition of Twitter, Tesla’s market value has fallen by nearly $332 billion.

Tesla investors were happy when Musk decided to walk away from buying Twitter, because Musk may no longer need to use the company’s stock as collateral.

On the other hand, Twitter hired professional lawyers to sue Musk, and the upcoming lawsuit may also cause more property damage to Tesla and Musk.

It is reported that the lawsuit could start as early as September 19, and Twitter’s lawyers confidently say that they only need four days to prove Twitter’s position.

This is not the first time Musk has been sued over a high-profile merger and acquisition announcement


3. New York releases emergency video of nuclear attack

On Monday, New York City’s Department of Emergency Management released a video on its YouTube channel to educate residents about three steps to take in the event of a nuclear attack:

  1. Get indoors quickly and don’t stay in the car;
  2. Close all windows and doors, go to the basement (if you have one), and if outside, remove all outerwear and pack in bags;
  3. Stay tuned for the latest news.

Although an emergency management spokesman said that the probability of New York City being hit by a nuclear bomb is very small, the release of the video at this time has caused confusion among many citizens.

NY city government believes it is necessary for residents to have basic emergency knowledge


4. New York developer builds 300 million office building

New York developer Helm Equities announced today that it will build an office tower in Miami with a huge outdoor space.

The building, which will span the entire block between Second and Fourth Avenues in the Miami Design District, is expected to cost $300 million and could span as much as 500,000 square feet.

Helm’s new building, Parterre 42, has 80,000 square feet of outdoor space, including a restaurant, courtyard, café, wellness center, and a rooftop terrace. In addition, the building’s supporting car park also contains 600 parking spaces.

CBRE Group will be hired and responsible for the lease of the property


5. Sunak wins first round of UK PM election

Last week, Rishi Sunak won the backing of many in the race for Britain’s new prime minister as he voluntarily resigned and pressed Boris Johnson.

Sunak is currently in first place with 88 votes, ahead of second-placed Penny Mordaunt with 67 votes.

Sunak’s pledge to cut taxes only after Britain’s soaring inflation is under control has won him the support of many Conservatives.

The next Conservative Party election will be held this Thursday. Although Sunak currently has the lead in votes, it is still difficult to determine the future trend of votes.

Sunak’s votes nearly tied with Zahawi and Braverman


6. Bill Gates donates another $20 billion

Recently, Bill Gates donated $20 billion to his charitable foundation, the Bill & Melinda Gates Foundation

With this huge donation, the Gates Foundation’s total endowment increased by 40% and remains the world’s largest private charity. The agency’s annual donation budget could reach $9 billion by 2026.

Bill said the world economy was entering a cycle of low growth, and he urged others with enormous wealth to step up and fill the void.

Most of the charitable foundations have been severely affected by covid-19 in the past 2 years


7. U.S. rents rise in June by a 36-year record

According to a report released today by the U.S. Department of Labor, an index that tracks rents for primary U.S. residences rose 0.8% in June from May, up from a 0.6% increase the previous month. The index has risen 5.8% over the past 12 months, the highest since 1986.

Rent is one of the main reasons why inflation remains high. With many homebuyers no longer able to afford housing, more and more are forced to rent out, fueling a vicious cycle of rising rents.

Moody’s Analytics chief economist Mark Zandi (Mark Zandi) said the good news is that the current market rents are showing signs of capping, and the supply of rental apartments will gradually increase in the next one to two years.

There are now 836,000 multifamily units under construction in the U.S., the highest level since 1973, according to RealPage’s chief economist Jay Parsons.

If the job market starts to slump, housing affordability would get worse


The content of this article comes from various financial news media such as The Wall Street Journal, Financial Times, and Bloomberg.