ECB's fight against inflation nearly over, accounts show

Robert Monks, a trailblazer in shareholder activism and founder of Institutional Shareholder Services, has passed away at 91. He was a visionary who saw the potential of organized shareholder influence to hold corporate management accountable, reshaping how investors engage with companies.

What This Mean: Monks wasn’t just another financier—he fundamentally changed the game by empowering shareholders to challenge unchecked corporate power. His work laid the groundwork for modern ESG investing and corporate accountability movements. Even if you’ve never heard of him, his ideas influence how big companies answer to their investors today. A quiet but towering figure in finance.

Robert Monks, a trailblazer in shareholder activism and founder of Institutional Shareholder Services, has passed away at 91. He was a visionary who realized that organized shareholder influence could keep corporate management in check, reshaping how investors engage with companies.

What This Mean: Monks wasn’t just another financier—he fundamentally changed the game by empowering shareholders to hold companies accountable. His work laid the groundwork for modern corporate accountability movements, making this more than just an obituary. It’s a reminder of how one person’s ideas can redefine an entire system.

Home sales dropped again in April as buyers hesitated due to rising costs and economic jitters, marking the slowest April sales pace in over a decade. The usual spring housing surge is looking more like a dud this year.

What This Mean: If you've been house hunting lately, you're not alone in feeling squeezed—high prices and shaky economic vibes are keeping buyers on the sidelines. This slump isn’t just a blip; it’s a sign that affordability (or the lack of it) is reshaping the market. For sellers, it means fewer bidding wars, and for everyone else, it’s another reminder that the housing crunch isn’t easing up anytime soon.

U.S. businesses saw a welcome uptick in activity this May, bouncing back from a sluggish April. The latest PMI reading—a key gauge of economic health—climbed to 52.1, signaling modest growth and easing worries about a sharper slowdown. But don’t pop the champagne just yet: rising prices are still gnawing at margins, keeping the recovery on shaky ground.

What This Mean: This isn’t a boom, but it’s not a bust either. The rebound suggests the economy’s still chugging along despite inflation pressures, which could influence the Fed’s next moves. For everyday folks, it’s a mixed bag—stronger business activity might mean more jobs, but stubborn prices mean your wallet isn’t getting much relief.

Chinese automaker BYD just hit a major milestone—it sold more electric cars in Europe last quarter than Tesla, marking the first time Elon Musk's company has been outsold there. This signals a shift in the EV market as BYD gains ground globally, while Tesla faces stiffer competition.

What This Mean: This isn’t just about bragging rights—it’s a sign that Tesla’s dominance in the EV market isn’t guaranteed, especially as Chinese automakers like BYD ramp up quality and affordability. For consumers, more competition could mean better options and prices. For Tesla, it’s a wake-up call that rivals are catching up fast.