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- Biden’s middle finger to Supreme Court
Biden’s middle finger to Supreme Court
Plus, Apple CEO unloads stock
*past 24-hour performance
Keystone pipeline restarts at half capacity: The Keystone crude pipeline, a vital artery transporting Canadian oil to markets in the US and overseas, is operating at about half of its capacity after a brief disruption (Bloomberg)
Apple CEO unloads stock: Apple (AAPL) CEO Tim Cook just executed his largest sale of his company’s stock in more than two years, selling $88 million worth of shares (Forbes)
VC deals down 24% in Q3: The number of venture deals in the three months ending Sept. 30 dropped 24% and total funding declined 12% to $32.7 billion (Barrons)
Intel spinoff: Intel (INTC) plans to spin out its programmable chip unit as a standalone business starting January next year and plans to hold a public stock offering for the business in 2-3 years; it acquired the business for $16.7B in 2015 (Reuters)
Major ad deal now live: Ad tech giant Taboola (TBLA) and Yahoo's exclusive 30-year native advertising deal, announced last year, is now live, with Taboola CEO Adam Singolda stating the deal increases the company’s annual top line by roughly $1 billion (Axios)
Biden’s middle finger to Supreme Court: President Biden announced Wednesday that his administration has approved an additional $9 billion in student debt relief for 125,000 borrowers (Reuters)
Bad news is good news now: The latest reading from payroll firm ADP showed private-sector hiring cooled much more than expected in a sign of economic weakness that was cheered by investors in the hope that they will deter the Fed from more rate hikes (Reuters)
IPO the IoT: BlackBerry (BB) shares rose after the company announced it plans to spin off its Internet-of-Things business in an IPO (Marketwatch)
Fighting the Fed: There was no joy on Wall Street the other day. Little by little, day by day, it is becoming clearer: getting home won’t be easy. Read more »
A recession preparation checklist to survive bad times: Are you ready for another recession? With interest rates surging, oil prices rices, stock markets falling, the government stalling, and the housing market grinding to a halt, it seems inevitable another recession is just around the corner. Don't wait until it's too late to prepare. Read more »
Harder than gold, faster than fiat: For thousands of years, gold has always been mankind’s hardest money. That is all set to change in a matter of months, and most people have no idea. Read more »
The online maze of job applications (Careerfair)
You can now invest in ‘Shrek’ music rights the same place you buy stocks (WSJ)
What’s Amazon’s market share? (Ben Evans)
Labor Market Not Yet Working for Workers (American Compass)
Austin TX leading the pack when it comes to home price declines back to sanity, -8% YTD. The pandemic influx from CA and NY was unreal, suddenly Teslas and Porsches everywhere. Tech cos flush with cash and liberal with WFH. Ludicrous mortgage rates. That's all unwinding now.
— Tuur Demeester (@TuurDemeester)
4:13 PM • Oct 4, 2023
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