The Cynic: November 28

BUSINESS
This Week’s Business News

Russia Threatens WhatsApp Ban as It Advertises Its Own App

Nothing says “secure communication” like banning the secure communication app. Russia warned it may fully block WhatsApp if it doesn’t comply with laws requiring cooperation on criminal and terrorism investigations.

They’ve already been quietly throttling calls anyway. Authorities have been restricting WhatsApp and Telegram call features for months, accusing the platforms of refusing to share data with investigators.

And conveniently, the government has a backup app ready: MAX. Critics say it could become a surveillance tool, while officials insist it’s totally safe, totally private, and totally—coincidentally—government-operated.

Starbucks Workers Turn Black Friday Into a Holiday Strike Special

The baristas decided the only thing brewed this Black Friday would be labor tension. Starbucks Workers United expanded its open-ended strike to over 120 stores across 85 cities.

It all started on Red Cup Day and snowballed from there. The walkout, now the longest in Starbucks history, is fueled by demands for better pay, staffing, and responses to hundreds of labor complaints.

Starbucks insists everything is fine—because legally, it can make everything fine. The company says almost all stores remain open, and experts note it’s allowed to hire replacements if needed… a very festive reminder of bargaining power.

Morgan Stanley Fined €101 Million for Dutch Dividend Tax Scheme

Apparently “historical matter” is banker language for “please stop asking questions.” Dutch prosecutors fined Morgan Stanley’s London and Amsterdam units €101 million over a dividend-tax strategy that let ineligible investors claim refunds.

It exploited the gap between local and foreign tax treatment. Domestic shareholders can reclaim dividend taxes; foreign ones usually can’t—so the bank allegedly used a structure that slipped refunds to the wrong people.

Morgan Stanley paid the bill and moved on. The bank settled by covering past taxes and interest and accepting the fine, neatly closing a chapter from more than a decade ago.

Before we jump into today’s Real Estate chaos:

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The AI Race Just Went Nuclear — Own the Rails.

Meta, Google, and Microsoft just reported record profits — and record AI infrastructure spending:

• Meta boosted its AI budget to as much as $72 billion this year.

• Google raised its estimate to $93 billion for 2025.

• Microsoft is following suit, investing heavily in AI data centers and decision layers.

While Wall Street reacts, the message is clear: AI infrastructure is the next trillion-dollar frontier.

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REAL ESTATE
This Week’s Real Estate News

Warehouse Real Estate Is Finally Stabilizing After Pandemic Whiplash

Warehouses went from rock stars to regular employees—and the market is finally calming down. A sector once driven by frantic e-commerce expansion is now rebalancing between supply and demand.

E-commerce is still strong, just less manic. More shopping is happening in stores again, so tenants are choosing higher-quality, well-located buildings over mindlessly grabbing giant boxes in the middle of nowhere.

Smart warehouses beat big warehouses now. Investors want buildings that support automation, high-power operations, and fast delivery—not just empty square footage.

Case-Shiller Shows Home Prices Dropping in More Than Half of Big Cities

National home prices are rising, but the South and West are quietly having their own price-drop festival. Of the 20 major metros tracked, 11 saw year-over-year declines.

The split is getting wider. Some cities with tight inventory still clock gains, while overheated boom markets are finally cooling off enough to give buyers leverage.

So yes, it’s a “mixed market.” Depending on your zip code, prices are either stubbornly climbing or politely retreating after two years of listing-price delusion.

Delayed Jobs Report Keeps Housing Market Guessing

Nothing stresses the housing market like a jobs report that shows up late and says “maybe.” September’s delayed numbers showed 119,000 new jobs and 4.4% unemployment—slower, but not recession-level slow.

The Fed loves clarity, and this report offered none. The data hints at cooling inflation pressure, but not enough to guarantee a rate cut.

So housing remains in suspense mode. Mortgage rates hover in the mid-6s, inventory trickles in, and everyone waits for whichever plot twist the Fed delivers next.

FUN
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ADVICE
This Week’s Business Advice

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