Weekend roundup

Here’s what you missed while you were living your best life:

• 💰 Bain Sweetens Insignia Bid
  Bain Capital raised its buyout offer for Insignia to nearly $1.8 billion, intensifying one of the year’s biggest private equity battles. Insignia, with advisors Citigroup and Gresham Advisory Partners, now has a juicier offer to consider, as industry eyes are glued to this high-stakes deal.

• 🏬 Wayfair Bids Germany Goodbye
  Wayfair is pulling out of Germany, cutting 730 jobs and refocusing its strategy on physical stores and loyalty programs. While the online retail giant struggles to grow abroad, it’s doubling down on key markets and in-store experiences to drive future success.

• 🛠️ U.S. Jobs Crush Forecasts
  December job creation surpassed expectations, capping 2024 with a surprise in the labor market. But the Federal Reserve warns 2025 could be tougher, with slower hiring and higher inflation expected to weigh on the economy.

Featured weekend story

California Slams Brakes on Insurance Cancellations

California is drawing a hard line on insurance cancellations, issuing a yearlong moratorium in wildfire-ravaged areas like Pacific Palisades and Pasadena. The move blocks major carriers such as State Farm and Allstate from pulling out of high-risk zones, even as wildfires continue to scorch 36,000 acres and rack up losses exceeding $135 billion. For homeowners already battling skyrocketing premiums and shrinking options, this pause offers temporary relief—but it’s far from a fix.

The state’s insurance market is in turmoil, with over 500,000 Californians forced into the state-backed FAIR Plan as private insurers retreat. Add to that $20 billion in projected insured wildfire losses, and it’s clear this crisis has no easy resolution. Critics argue the ban could deter future investment in the state’s housing market, leaving homeowners in limbo once the moratorium lifts.

California’s move might provide short-term relief, but it also raises tough questions about the future of the state’s housing and insurance markets. With insurers already fleeing and billions in losses piling up, homeowners are left wondering if stability is even possible—or if the Golden State is becoming too risky.

What to watch this week

Indices at 12:00 AM (ET)

Here are your upcoming market events:

• 📈 Treasury Yields Surge
  Treasury yields are climbing fast, driving up borrowing costs and putting pressure on mortgage rates and the stock market. With the Fed's next moves in focus, higher yields are becoming a major headwind for economic growth and corporate earnings.

• 🔋 China’s Lithium Breakthrough
  China’s latest lithium discovery solidifies its dominance in the EV battery supply chain, further outpacing global rivals. As demand for lithium skyrockets, this breakthrough is poised to reshape the industry and tighten China’s grip on critical resources.

• 🚗 Tesla Faces Clean Credit Scrutiny
  Tesla’s heavy reliance on clean energy credits is drawing attention as the Trump administration signals potential regulatory changes. Any shift could impact Tesla’s profitability and force a rethink of its financial playbook in a rapidly evolving landscape.

Off-balance sheet items

Here’s what we’re reading this week:

• 76ers Stadium Deal Scrapped. After years of heated debate, the Philadelphia 76ers have abandoned plans for their $1.3 billion downtown arena. Community backlash over displacement concerns and environmental impact put the final nail in the project’s coffin.

• Singapore’s Passport Power. Singapore is back on top, claiming the title of the world’s most powerful passport for 2025. Citizens can now travel visa-free to 193 destinations, leaving other global passports in the dust.

• Tesla’s Model Y Makeover. Tesla has unveiled a sleek update to its Model Y, dubbed “Project Juniper,” featuring revamped interiors and cutting-edge tech. With EV competition heating up, this refresh aims to keep Tesla ahead of the pack.

Chart of the week

% of New U.S. Power Plants that were carbon-free

The bottom line

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