Summary

The government's new Consumer Price Index data shows a rise in inflation to 3.5% for March. The U.S. added over 303,000 jobs in March, exceeding expectations and dropping unemployment rates to 3.8%. Taiwan's TSMC plans to open a new chip factory in the U.S., supported by over $11 billion from the government. In Vietnam, Real Estate Mogul Truong My Lan has been sentenced to death in a $12 billion fraud case. A Brazilian Supreme Court judge has imposed a daily fine on X (formerly Twitter) for not complying with orders to restrict certain accounts related to former President Jair Bolsonaro. The U.S. Federal Aviation Administration is investigating Boeing following a whistleblower's claims about safety concerns in the production of its jets. JPMorgan Chase is narrowing down candidates to replace CEO Jamie Dimon.

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For those who read...

Starting with the Macro Business Landscape: 

• The government has released new Consumer Price Index data revealing an uptick in inflation to 3.5% for the month of March. 85% of investors now remain pessimistic about a potential interest rate cut in June.
• In more positive news, the U.S. added over 303,000 jobs in March exceeding expectations by over 100,000. As a result, unemployment rates have dropped by .01% to 3.8.

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Moving to the Corporate World:

• Taiwan's TSMC, responsible for 90% of the world's advanced computer chips, is set to open a new chip factory in the United States as tensions continue to grow around China potentially invading Taiwan. The U.S. government will provide over $11 billion to support TSMC's investments to increase American chip production. TSMC estimates its third plant will result in 6,000 “direct high-tech, high wage jobs.”
• In Vietnam, Truong My Lan, a Real Estate Mogul has been sentenced to death in a $12 billion fraud case. Lan’s collateral damage was deemed to be equivalent to 6% of the nation’s entire economic output in 2023.
• After ordering certain social media accounts on X (formerly Twitter) accused of spreading fake news and hate speech related to previous far-right president Jair Bolsonaro, a Brazilian Supreme Court judge has implemented a $19,740 per day fine on X for failing to comply with the order. Elon Musk, who owns X, has responded by stating he will reactivate those blocked accounts because the restrictions are unconstitutional, defying the judge's order.
• And high up in the sky, The U.S. Federal Aviation Administration is now investigating Boeing after a whistleblower claims that the company ignored safety and quality concerns in the production of the company’s 787 and 777 jets.
• Over on Wall Street, JPMorgan Chase has narrowed down their diligent search to replace long time CEO Jamie Dimon. The hunt continues as quarterly reports are expected Friday from JPMorgan alongside Wells Fargo, Citigroup, and BlackRock.

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‍That's all for this week's Business Column.

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Macro Recap:

Inflation Hits 3.5% in March as Interest Cuts Seem More Pessimistic (U.S. BLS) (JPM)

303,000 Jobs Added In March Dropping Unemployment Rates to 3.8% (BLMBG)(JPM)

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Corporate World Recap:

TMSC Plans to Open New Chip Factory in U.S. (RT) (CNBC)

Vietnamese Tycoon Sentenced to Death in $12 Billion Scandal (NYT) (BI)

Elon Musk Goes Head-to-Head with Brazil’s Supreme Court (ABC News) (RT)

U.S FAA Investigating Boeing Over Whistleblower Claims (NBC News) (CBS News)

JPMorgan Plan to Replace Current CEO (RT)(YF)