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Morning Brew Daily
Why War in Middle East Could Lead To A Global Recession & Rite Aid Goes Bankrupt
Oct 16, 2023
27:57
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Global markets prepare for the impact of war in the Middle East. Rite Aid's bankruptcy signifies the crisis in the drug store industry. Netflix ventures into the retail space. Influencers and YouTube stars in the boxing ring. The challenges and future of Disney.
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Quick takeaways
- Tensions in the Middle East could lead to a global recession due to potential oil price spikes and geopolitical instability.
- Rite Aid's bankruptcy reflects the challenges faced by traditional retail chains in the face of competition and changing consumer behavior.
Deep dives
Global Economic Instability Feared as Israel-Hamas Conflict Escalates
JP Morgan CEO Jamie Diamond warns of potential far-reaching impacts on energy and food markets, global trade, and geopolitical relationships due to the Israel-Hamas war and the ongoing Ukraine conflict. Potential involvement by Iran and its proxies could lead to a wider Middle East conflict, which could jack up oil prices and harm global economic output. The situation is reminiscent of the Arab-Israeli War of 1973 and draws concerns from economic leaders.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode