Trump meets Putin today President Trump and Russia’s Vladimir Putin will meet, one-on-one, at 3.30 p.m. ET in Alaska, at the Elmendorf Richardson military base, to discuss a peace plan for Ukraine. Ukraine was not invited. Trump has simultaneously talked up the meeting and lowered expectations about it. On the table: Territorial concessions to Russia (which are unacceptable to Ukraine), an end to further Russian aggression against Ukraine (which is unacceptable to Russia), and whether the U.S. and NATO will back its position with ongoing military support for Ukraine.
U.S. government may take a stake in IntelIntel stock rose 7% on reports that the Trump administration
is in talks to take a stake in the chipmaking company. It’s a sharp turnabout from last week, when the president called for CEO Lip-Bu Tan’s resignation over his alleged investments in China. The investment would be a boost for Intel’s much-delayed plan to build a $20 billion semiconductor plant in Ohio. There is a pattern here: The Trump Administration previously took a "golden share" in U.S. Steel when it was acquired by Nippon Steel, and the Pentagon bought $400 million in MP Materials stock.
Amazon launches new fresh grocery pushAmazon
launched same-day delivery of fresh, perishable groceries in 1,000 U.S. cities on Wednesday—threatening rivals like Walmart and Instacart. The e-commerce giant’s latest attempt to enter the grocery game has already caused Walmart to shed $15 billion from its market cap.
Berkshire Hathaway sells more AppleWarren Buffett’s Berkshire Hathaway
sold another $4 billion in Apple stock. Apple is down 7.04% YTD while the S&P 500 is up 10% over the same period.
China growth slowsThe Chinese economy
slowed sharply in July, macro data shows. While the economy is still growing, growth stats for factory activity, investment, and retail sales all declined from the previous month and urban unemployment rose. Although U.S. trade tariffs on Chinese exports are part of the problem, the government’s attempts to curb “involution”—internal competition between domestic companies—also played a role.
Walmart expands employee discountWalmart COO Kieran Shanahan announced that the retail giant is extending its 10% employee discount to approximately 95% of the store’s regularly priced items. The move comes as food prices are up significantly year-over-year.
Must-read: Leave the stones alone!You’ve probably seen those neatly stacked piles of rocks along rural walking trails, left by tourists looking for an Instagram moment. The problem is, those piles are destroying the homes of snails, insects, lizards and plants that need the rocks to not be moved around. One man is fighting back: Stuart Cox has gone viral by filming himself kicking over as many stacks as he can.
The NYT has the details.