Morning Brew Daily Wall Street Brings Back Bigger Bonuses & Trouble in Mega-City Neom Paradise?
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Nov 13, 2024 Wall Street is seeing a comeback with rising bonuses for finance professionals after a two-year slump. Activist investor Elliott Management is shaking things up at Honeywell, calling for significant restructuring. Meanwhile, the futuristic city of Neom faces setbacks with the sudden departure of its CEO. On the tech front, Amazon is innovating with smart glasses for delivery drivers to streamline operations. The chat wraps up with insights on today's biggest headlines.
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Wall Street Bonuses Rebound
- Wall Street bonuses are rising for the first time since 2021, driven by increased dealmaking and a stock market rebound.
- However, bonuses aren't reaching 2021 levels, when SPACs and IPOs were booming.
Honeywell Breakup?
- Activist investor Elliott Management is pushing for Honeywell to split into two companies: aerospace and automation.
- They believe the conglomerate structure is hindering Honeywell's share price.
Neom's Challenges
- Neom, Saudi Arabia's futuristic megacity project, faces setbacks as its CEO departs amidst delays and cost overruns.
- Building a massive city in the desert has proven more challenging than anticipated.
