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United Airlines offers job opportunities to U.S. military pilots post service, while its pilots approve a new labor contract with substantial raises and benefits, as stated by the Air Line Pilots Association.
China's new rules could potentially remove foreign apps, including Facebook, Instagram, and others, from Apple's iPhone App Store. Apple executives have met with Chinese officials to discuss this crackdown and maintain business relations in the country.
The potential for a government shutdown and its impact on the markets raises concerns among investors, who are already dealing with headwinds and market volatility. Additionally, the shutdown could lead to disruptions in food aid and air travel, and potentially contribute to stress in the US financial markets. However, historical data suggests that shutdowns have limited effects on the stock market.
Structure Therapeutics Inc.'s stock surged by over 90% in premarket trading after announcing positive results from an early-stage trial of their weight-loss treatment, GSBR-1290. The oral GLP-1 receptor agonist showed placebo-adjusted weight loss of up to 5% in patients with obesity or overweight, leading to a 60% increase in shares. The drug is part of the same class as Novo Nordisk's Ozempic and Wegovy.
The Paris public prosecutor's office is investigating LVMH CEO Bernard Arnault for financial transactions involving Russian oligarch Nikolai Sarkisov, including potential money laundering. French authorities are looking into Arnault's dealings with Sarkisov, who purchased properties in 2018 through intermediaries with Arnault allegedly involved as the buyer.
The United Auto Workers' strike has entered its 15th day, with UAW deciding to expand the strike to additional plants at GM and Ford. The union is excluding Stellantis this time due to advancements in negotiations. As of the current writing, shares of Stellantis NV are on an upward trend in response to this development.
Fisker Inc. has announced its plan to offer $170 million in convertible notes to an existing institutional investor, resulting in $150 million in gross proceeds. The move aims to accelerate deliveries, expand growth, and expedite vehicle programs, bringing in additional "growth capital" for the electric vehicle company. Fisker's stock was negatively impacted by the news.
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) reported record third quarter revenue, leading to its first quarterly profit since before the COVID pandemic. Despite the positive news, management's guidance suggests a bigger loss in the current quarter than anticipated.
Inflation rose sharply in August primarily due to higher gas prices, but overall inflation continued to slow. The Personal Consumption Expenditures Index, excluding food and fuel prices, showed a slower increase than expected. The Federal Reserve's preferred inflation gauge also indicated a considerable cooling of price increases, along with a slowdown in consumer spending. The core personal consumption expenditures price index recorded its slowest monthly pace since late 2020, while consumer spending and income both saw a gain.