Happy Sunday, Munchers!

Work week is almost in - so grab a cup of coffee and treat yourself for a bit before the grind begins. 😴

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 57 seconds.

Let’s dive in.

What’s hot, what’s not?

Story Roundup

1 - Ukraine's first grain shipment sails through troubled waters. 🚢

A ship left from Ukraine last week, carrying two commodities. "Grain, and hope".

Normally, a ship leaving from Ukrainian ports would be met by thunder from Russia - but not this time.

Putin expressed his desire to "alleviate the global food crisis", and he agreed not to harm any Ukrainian vessels carrying food.

Ukraine is responsible for 16% of the world's grain - so solving this problem's a big priority.

Corny business. 🌽

2 - Huawei ditches phones for cloud services. 🌩️

Chinese telecommunication giant Huawei had their earnings on Friday - and Q2 revenue came in at $25.5bn - up 1.4% year-on-year.

The interesting part, however, is this.

Huawei phone sales declined 28% - but they made up for this with a 25% increase in revenue from enterprise cloud computing business.

The reason they're winning in the cloud space in China is because they're able to provide cloud services to state-owned enterprises and local governments.

Beijing loves 'em.

3 - Children bear the brunt of surging inflation. 💸

Halifax's annual pocket money survey has revealed a few interesting things -

The average British parent hands out 23% less pocket money year-on-year, with the weekly handout falling from GBP 6.48 last year to GBP 4.99 this one.

Biggest worry for British parents is also the highly-volatile cost of energy - and with energy bills forecast to rise 70% in October, it's a valid concern.

Inflation's hitting little Timmy's piggy bank harder than it's got the rest of us. 🤷

More info here.

4 - Spain's gas pipeline could be ready in 9 months. ⛽

In an attempt to increase Europe's energy security amid Russian tricks, Spain has said that an additional link connecting them to France could be ready in 9 months.

This could increase their gas exports to Europe by 20-30%.

It's a much-needed savior for Europe as they deal with the biggest energy crisis in a long while.

Russia took care of 40% of European demand before they cut supply - causing a bit of a crunch.

Dizzying. 😮‍💨

5 - Disney overtakes Netflix in streaming subscriptions. 🎬

Disney shrugged off concerns about a slowdown in Q2 - adding 14.4m subscribers, bringing their total sub base to 221m - slightly ahead of Netflix.

However, long-term guidance was relatively bleak.

The streaming business lost $1.1bn - quadruple the $293m loss from a year back.

In addition, they lost their rights to stream the IPL - watched by 230 million people.

They still stand behind their goal of reaching profitability by 2024 - even though Wall Street has shied away from cash-burning operations of late.

All to play for. ▶️

Nearly Monday. Praying for all of your coffee machines when you guys get back to the office. Have a good one guys.

Hope you enjoyed this issue of the Market Munch. If you have any feedback, positive or negative, hit my line at [email protected] or +971 50 708 8469.

Cheers.

- A