CONSULTING
Pentagon cancels $5.1 billion in consulting contracts with Accenture, Deloitte, etc
The Pentagon is cancelling IT consulting contracts worth $5.1 billion with Accenture, Deloitte and Booz Allen Hamilton among others.
US Defense Secretary, Pete Hegseth, believes the Pentagon can do this work themselves instead of paying external companies.
Everyone things they’re an IT expert until they encounter Microsoft Windows blue screen of death…
M&A
Two Luxury Powerhouse Brands Merge
Italian luxury house, Prada, has agreed to acquire fellow Italian luxury brand, Versace for $1.38 billion cash.
Versace is currently owned by Capri Holdings who bought the brand from the founding family.
The acquisition and merger of these two Italian brands is meant to fend off the advancements of French luxury brand groups such as LVMH.
MARKETS
As Stock Markets Plunged, There Were no Safe Havens for Investors
As stock markets around the globe saw massive amount of volatility this past week, the worrying thing was also the massive outflow of investors from US Treasuries and high-yield bonds.
Usually, when investors see volatility in equities, they flee to bonds, but not in this case.
The market is signalling a lack of trust in US Treasuries we haven’t seen history.
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