Office vacancy rates reach a new high of 19.8% in Q1 of 2024, surpassing records from 1986 and 1991. The collapse of the Francis Scott Key Bridge impacts over 8,000 jobs and $200 million of daily cargo movement in Baltimore. Stock market drops after Federal Reserve warns on interest rate cuts. OpenAI unveils voice cloning tech but delays release due to misuse concerns. AT&T reports 73 million customer records leaked after a data breach. Google settles lawsuit, agreeing to destroy billions of Incognito mode browsing data. Tesla's vehicle deliveries drop, leading to a 5% stock decrease. Two investors plead guilty to illegal insider trading ahead of Trump Media SPAC deal.
Macro Recap:
Office Vacancy Rates Reach New All-Time Highs at Roughly 20% (YF) (BLMBG)
Francis Scott Key Bridge Incident Will Have Limited Effect on U.S. Supply Chain (BI) (NPR)
Stock Market Falls Dramatically as Interest Rate Cuts Become More Pessimistic (AP) (RT)
Corporate World Recap:
OpenAI Holds Back on Publicly Releasing New Voice Cloning Tech Over Safety Concerns (FN) (YF)
AT&T Reports Over 73 Million Customer Information Leaked and Sold on Black Market (FB) (FT)
Google Destroys Billions of Data Records Because of Lawsuit Settlement (CBS) (WSJ)
Tesla Stock In Shambles After Massive Vehicle Delivery Decline (CNBC) (RT)
Two Investors Involved in Trump’s Social Media IPO Plea Guilty To Insider Trading (BLMBG) (RT)
