 | *past 24-hour performance |
| | Shots fired: TikTok plans to offer steep holiday discounts in a monthlong campaign that will begin in late October, aiming to lure inflation-battered shoppers to its new online marketplace, and taking the first shot in a price war with Amazon (AMZN) and Walmart (WMT) (Bloomberg) Biggest tech transaction of the year: Cisco Systems (CSCO) on agreed to buy cybersecurity firm Splunk (SPLK) for ~$28 billion in its biggest-ever deal to strengthen its software business and capitalize on the boom in AI (Reuters)
Medical inflation: Employers in the US anticipate the largest health insurance expense increase in 10 years in 2024, with projections ranging from 5.4% to 8.5% (Reuters)
BoE also holds rates steady: The Bank of England left its key interest rate unchanged for the first time since November 2021 amid signs that inflation is cooling and the U.K.’s economy is teetering on the brink of contraction (WSJ)
10-year yields hit 16-year peak: US Treasury yields continued their march higher, reaching multiyear highs, as investors digested the Fed's interest rate decision and forward guidance along with new unemployment data (CNBC)
Murdoch steps down: Rupert Murdoch, the powerful media mogul who built and oversaw one of the world’s most influential news empires, announced that he will step down as chairman of Fox (FOX) and News Corp (NWSA), handing the reins to son Lachlan (Reuters)
Short sellers circling ARM: Arm Holdings' (ARM) stock on Thursday dipped for the first time below its IPO price, while short sellers appeared to be betting against the chip designer just a week after its Wall Street debut (Reuters)
US existing-home sales fall to seven-month low: Sales of previously owned US homes declined in August to the lowest since the start of the year, restrained by limited inventory and historically high mortgage rates (Bloomberg)
Microsoft clears final hurdle: Microsoft’s (MSFT) got a huge boost as its proposals to modify its $75 billion Activision acquisition address the concerns with the U.K. antitrust authority, the regulator said in a provisional decision Friday (WSJ)
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| | | Blockchain Capital raises $580 million (CoinSnacks) From real estate to the S&P 500, on average, how long will it take to double your money? (Visualized) Guyana delivers, and there’s more to come (Cody Shirk) Airlines are just banks now (The Atlantic) The new kings of DeFi (CoinSnacks) How to cool down a city (NYT)
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