Core Insights - Bill Ackman is transforming Howard Hughes Holdings Inc. into a diversified holding company by acquiring Vantage Group Holdings for $2.1 billion, aiming to replicate Berkshire Hathaway's model [1][6][8] Acquisition Details - The acquisition of Vantage Group is valued at approximately 1.5 times its estimated year-end 2025 book value, with the deal expected to close in the second quarter of 2026, pending regulatory approvals [3] - Howard Hughes will finance the $2.1 billion purchase using a mix of cash on hand and up to $1 billion from Pershing Square through newly issued preferred stock, which is non-interest bearing and non-voting [4] Market Reaction - Following the announcement of the acquisition, Howard Hughes shares increased by 3%, indicating positive investor sentiment [5] Strategic Shift - The acquisition is part of a broader strategy to pivot Howard Hughes beyond real estate development, which includes the recent spinoff of Seaport Entertainment Group [9] - Ackman has emphasized the importance of finding a management team or acquiring an existing company to serve as the core of this new diversified platform [3]

Core Points - Instacart has agreed to pay $60 million to settle allegations from the Federal Trade Commission regarding deceptive practices related to its Instacart+ membership and free delivery offers [1][4] - The FTC claimed that the "free delivery" offer for first orders was misleading as shoppers were charged additional fees [1] - The company did not sufficiently inform customers that free trials of the Instacart+ subscription would automatically convert to paid memberships [2] - Instacart settled the allegations without admitting wrongdoing [3] - The company is currently under investigation due to a study indicating that different shoppers received varying prices for the same items at the same stores [3][6] - Instacart stated that retailers set prices and that its Eversight pricing tool conducts random pricing tests not based on user data [6]

Core Viewpoint - Activist investor Elliott Management has acquired a $1 billion stake in Lululemon Athletica amid leadership changes, as the company seeks a new CEO following Calvin McDonald's resignation [1][3]. Group 1: Leadership Changes - Calvin McDonald, Lululemon's CEO for seven years, will step down in January, with Elliott Management advocating for new leadership [3]. - Elliott Management is collaborating with Jane Nielsen, a former Ralph Lauren executive, as a potential candidate to lead the company [3][5]. - Chip Wilson, Lululemon's founder and a major shareholder, has called for independent directors to oversee the CEO search, criticizing the board for failing to hold management accountable [4]. Group 2: Financial Performance - Lululemon's shares increased by over 10% following McDonald's resignation announcement and rose by 8% after news of Elliott's stake [4]. - The company's total sales for the most recent quarter ending November 2 rose by 7% to $2.6 billion, driven by growth in China and other international markets, although North American sales declined by 2% [10]. Group 3: Market Challenges - Lululemon has faced challenges this year as competitors gain market share, and management has made missteps, including poorly received brightly colored apparel that has ended up on clearance [9]. - The company has shifted from its previous strategy of limited discounts, leading to an increase in clearance merchandise this year [6][9].

Trump Media & Technology Group is making its most surprising bet yet — plunging headfirst into nuclear fusion with a $6 billion merger that would vault a little-known energy startup into the public markets.The parent company of Truth Social announced Thursday it has struck an all-stock agreement to merge with private fusion firm TAE Technologies, creating what the companies say would be one of the world’s first publicly traded fusion-energy players.The deal, expected to close in mid-2026 pending regulatory ...

Shares in Birkenstock plunged 9% Thursday after the German shoe retailer warned tariffs will likely weigh heavily on its profit margins.The company – known for its chunky cork sandals – said it expects its annual gross margins will drop by a full percentage point due to US tariffs in the new fiscal year, which runs through Sept. 30, 2026.It expects adjusted earnings before interest, taxes, depreciation and amortization of at least 700 million euros, or roughly $821.8 million, with a margin of 30% to 30.5% – ...

US inflation unexpectedly cooled in November — slowing its pace in the first report since September after a government shutdown disrupted data gathering. The Consumer Price Index rose 2.7% in November over the past 12 months, down from 3% in September and below expectations of a 3.1% rise, the Bureau of Labor Statistics said Thursday.The Consumer Price Index rose 2.7% in November over the past 12 months. SARAH YENESEL/EPA/ShutterstockCore CPI – which excludes volatile food and energy prices – rose 2.6% over ...

Core Viewpoint - The Federal Trade Commission (FTC) is investigating Instacart due to concerns over its AI-driven pricing tool, Eversight, which has been criticized for offering different prices to different shoppers for the same groceries [1][2]. Group 1: Investigation Details - The FTC has issued a civil investigative demand to Instacart, seeking information regarding the Eversight pricing tool [1]. - The agency has expressed concern over the alleged pricing practices of Instacart, reflecting a broader unease among consumers [2]. Group 2: Eversight Pricing Tool - Instacart's Eversight pricing tool enables retailers to experiment with various pricing strategies using artificial intelligence [3]. - A recent study highlighted that shoppers on Instacart received varying prices for identical grocery items, raising ethical questions about the pricing model [2].

Medline shares surged more than 40% in their hotly anticipated New York debut on Wednesday, valuing the medical supply giant at $54 billion in the largest US initial public offering since Rivian’s 2021 listing, capping a strong year for new listings and fueling optimism for 2026.Shares of the company opened at $35, compared with its IPO price of $29 per share. The stock closed at $41.The medical supplies maker and distributor — acquired for $34 billion in 2021 by Blackstone, Carlyle and Hellman & Friedman i ...

Honda is recalling more than 70,000 US vehicles over a loss of brake function, which could increase the risk of a crash or injury, auto safety regulators said Wednesday.The recall includes certain 2016-2020 Honda Acura ILX vehicles, according to the National Highway Traffic Safety Administration.The automaker said contaminated brake fluid may cause a seal inside the brake master cylinder to swell and deform, triggering an internal brake fluid leak, which can impair brake function.Honda is recalling more tha ...

Core Viewpoint - Ben & Jerry's co-founder Ben Cohen has accused Magnum Ice Cream Company of using manipulative tactics to undermine the brand's social mission, particularly its support for Palestinians during the Gaza conflict, following Unilever's spin-off of its ice cream brands into Magnum [1][3][11]. Company Actions - Unilever, which acquired Ben & Jerry's in 2000, recently spun off its ice cream brands, including Ben & Jerry's, into a new entity called Magnum [1][12]. - Ben & Jerry's CEO Jochanan Senf updated the board's terms, introducing a nine-year term limit that led to the ousting of three directors, which he claims will enhance governance and transparency [2][4]. Co-founders' Response - Cohen criticized the board changes as "Orwellian," arguing that they are detrimental to the brand's social mission rather than supportive [3][14]. - Cohen stated that the management does not recognize the value of Ben & Jerry's, which is rooted in its commitment to societal benefits rather than mere profit maximization [6][10]. Financial Performance - Ben & Jerry's generated approximately $1.3 billion in revenue in 2024, making it the third-largest revenue generator among Unilever's over 100 brands [6]. Future Outlook - Cohen suggested that investors would benefit more if Magnum sold Ben & Jerry's to a group that would honor its social mission, as he believes the current management is not aligned with the brand's values [7][10][14]. - Despite Magnum's claims of commitment to Ben & Jerry's mission, Cohen expressed skepticism about their understanding of the brand's core values [14][15].