Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:
(1) The Bank of Japan ended the most aggressive monetary stimulus program in modern history, scrapping the world's last negative
interest rate while keeping financial conditions easy for now — a dovish tone that weakened the yen after the widely expected
decision.
(2) Nvidia CEO Jensen Huang showed off new chips aimed at extending his company's dominance of artificial intelligence computing, a position that's already made it the world's third-most-valuable business. Elsewhere Nvidia is turning into a casino for the YOLO trading crowd. Just look at the options activity on Monday, when traders bet that shares of the $2.2 trillion chipmaker will more than double its $885 price — by the weekend.
(3) Chinese regulators say the developer, Evergrande, falsely inflated revenue by more than $78 billion in the two years leading to its failure.
(4) Elon Musk says that his prescribed use of ketamine alleviates periods of low mood and is in the best interest of investors in Tesla Inc. and the other companies he runs.
(5) Actress and singer Selena Gomez has hired advisers to weigh offers for her cosmetics company, Rare Beauty, valued at $2bn according to people familiar with the matter.
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