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Meta's Hot New Specs
Meta is launching smart glasses, ChatGPT now has internet access, Deltaâs CEO walked back recent SkyMiles changes, Costcoâs CEO said more young people are getting memberships, the dollar surge is impacting forex, and Peloton has a new partnership with Lululemon.
Lina Khan vs. Amazon
The FTC sued Amazon for anti-competitive practices, OpenAI may be selling shares at a ~$90B valuation, McKinsey is paying $320M to settle more opioid lawsuits, the CIA is building an AI tool, Chinaâs industrial profits continue to decline, and Target is closing multiple stores due to violence and theft.
What Can't ChatGPT Do?
Taylor Swift is the NFLâs newest star, the SEC collected Wall Street Whatsapp messages, hedge funds are cutting leverage fast, ChatGPT has new audio and image capabilities, taxpayers are footing the bill for Russian oligarch yacht maintenance, and movie stocks popped on potential news of a deal between writers and studios.
Lego Bricks Stay Oily
Lego is abandoning its effort to make oil-free bricks, Chinese gold buying is impacting bullion pricing, MSâs Zenter says the Fed is done raising rates for now, Unifor workers voted in favor of Ford contract, Thailand expects big investments from big tech companies, and Singapore is Japanâs top property investor this year.
IPOs Returning to Earth
Recent high-flying IPOs have seen their stocks return to their offer prices, 10-year yields hit a 16-year high, India-Canada tensions are growing, Apple is giving out smaller raises to its retail employees, the Saudi crown prince is pro-sportswashing, and UAWâs demand for a 32-hour workweek took a backseat in negotiation talks.
New Dall-E Next Month
The Fed left rates unchanged but signaled for another rate hike this year, OpenAI says a new Dall-E iteration is coming next month, Klaviyoâs founders are billionaires after a strong IPO, DeSantis shrugged off Ken Griffinâs criticism of his Disney fight, and SpaceX sued the Justice Department.
SBF's Parental Lawsuit
FTX is suing Sam Bankman-Friedâs parents, the US national debt hit $33T, Disney wants to invest $60B in its parks and cruises, Amazon is hiring 250k employees for the holiday rush season, stock buybacks are surging in Hong Kong, a Google exec claims they lost map traffic due to an Apple Maps switch on iPhones, and NYCâs transit network got a positive outlook from Moodyâs.
$100 Oil Soon?
Oil prices are approaching $100/barrel, debris of the missing F-35 fighter jet may have been found in South Carolina, negotiation talks resumed in Detroit as UAW threatened to widen its strike, Morgan Stanley got sued by PE firms for $750M, and Salesforce is rehiring former execs.
Big VC Losses on Instacart
Sequoia and a16z are taking big losses on their Instacart investments, Brazil wants rich nations to pay for the global energy transition, Hollywood never figured out the streaming model, France may sell fuel at losses to curb inflation, a White House team is headed to Detroit to resolve the UAW strike, and Erdogan wants Musk to build a Tesla factory in Turkey.
More European Rate Hikes
The ECB delivered a 10th rate hike, August wholesale inflation rose 0.7%, Brookfieldâs CFO said private credit and banks can co-exist, cocaine is set to surpass oil as Colombiaâs main export, Disney is cutting streaming targets for Disney+, and NASA is studying UFOs with AI.
Mexico's UFO Investigation
Mexicoâs Congress is holding a hearing on UFOs, the Fed is on alert for one more possible hike, Goldman fired its transaction banking chief, Howard Schultz stepped down from Starbucksâ board, UAW and automakers remain âfar apartâ in contract negotiations, and X Corp. is settling lawsuits over mass layoffs.
RIP to the Jets' Rodgers Era
Aaron Rodgersâ season is over after four plays as a Jet, Google argues that it hasnât exhibited anti-competitive practices, central banks are thinking higher rates for longer to fight inflation, AI is reshaping iPhones and Apple Watches, Ford plans to double its F-150 hybrid pickup production, and BPâs CEO quit over work relationships.