The fallout from the short seller attack on Adani continues and this time it has claimed Jo Johnson – who knew Boris Johnson had a handsome, younger brother that combs his hair and has a BMI in the healthy range? Going to visit Boris must be like being kidnapped by the ghost of Christmas future to see what you could become if you don’t change your ways.

The lowdown

• 🥾 Bank of England hikes rates by 50 basis points.

• 📈 Meta shares finish the day 23% higher after earnings beat and promise of ‘year of efficiency.’

• 🍎 Apple misses earnings for the first time since 2016.

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Disney board member with score to settle

Disney acquired Marvel in 2009 for $4 billion. The price equated to 37 times estimated earnings for that year and ended up being a company-defining investment. Then Marvel CEO Ike Perlmutter owned 37% of Marvel, which he traded for Disney shares.

Perlmutter now sits on the Disney board and is reportedly a good friend of activist investor, board hopeful and current proxy war general Nelson Peltz. It is being reported that Perlmutter has a score to settle with newly returned CEO Bob Iger. This dates to a 2015 reorganization which saw Marvel Executive Producer Kevin Feige no longer reporting to Perlmutter. Old people can be so grumpy.

It has been estimated that Perlmutter retains a roughly 1% stake in Disney, with a value of $2.4 billion. Peltz has amassed a $900 million stake for his part. These are not huge numbers, but could be important if the outcome of the proxy battle is as close as anticipated.

The content we're consuming today

• FT: EY considers handing retired US partners proceeds from spin-off ($).

• Gamecraft: The Playground and the Stage (Ep. 5).

• Bloomberg on YouTube: Cathie Wood on Deflation Risk, Tech Stocks and Bitcoin.

Off-balance sheet items

• You might think you are a big Seinfeld fan but are you a big enough fan to devote the remainder of your life to watching the never-ending AI generated Seinfeld episode streaming on Twitch? Yeah, I didn’t think so.

The bottom line

This guy comes up with new tech ideas ranging from unhinged to debatably valuable.