• Goldman Sachs prepares for layoffs as deal-making slows. It will become one of the first major U.S. big banks to cut workers. The job cuts will affect employees across the company. The bank, which could let go of employees as soon as next week, had paused its program of rightsizing the workforce during Covid-19; it would typically lay off 1% to 5% of its employees based on performance and other factors every year.

  • Twitter rejects Musk’s bid to end the deal ahead of the shareholder vote. Twitter Inc. rejected a third attempt by Elon Musk to cancel his agreement to buy the social network Twitter’s lawyers said in a letter Monday that the billionaire’s attempt to walk away is “invalid and wrongful” and “Twitter has breached none of its representations or obligations,” according to a regulatory filing.

  • Google spins out a secret high-speed telecom project called Aalyria. Google’s latest spinout, says it “radically” improves satellite communications, Wi-Fi on planes and ships, and cellular connectivity. Alphabet said it transferred almost a decade’s worth of tech, IP, patents, office space, and other assets to Aalyria earlier this year. The startup has secured an $8.7 million government defense contract. Read more here.

  • JPMorgan agrees to buy payments fintech Renovite. The acquisition is believed to be helpful in battling Stripe and Block. The bank said the deal would help it build its “next-generation merchant” acquiring platform, which processes payments on behalf of businesses and helps it modernize its payments offerings.

  • Ford expands the hands-free driving system to a $40,000 Lincoln Corsair crossover. The 2023 Corsair, starting at about $40,000, will be the lowest-priced vehicle in the company to offer the technology. Ford’s system uses a suite of cameras and sensors in addition to lidar mapping for hands-free driving on more than 130,000 miles of dedicated highways in North America.

  • Saylor is making MSTR the brokerage BTC play. Saylor is looking to issue more equity to buy even more BTC.  If your goal is to convert quickly to fiat related to Bitcoin price movements, then MSTR is your best option in a brokerage account. As a side note, if this $500M offering goes through,  it suggests the lawsuits against him are not meaningful and frivolous. Alternatively, it suggests any amount he owes wouldn’t impact MSTR. Read more here.
Join the more than 4 thousand ambitious entrepreneurs & investors hellbent on making our mark on the world. Subscribe today to become a Market Mover. Make better business & investment decisions with our daily curation service.


  • Starbucks to unveil ‘reinvention’ strategy at an investor day on Tuesday. The coffee chain is expected to unveil a reinvention plan Tuesday. The strategy is the brainchild of outgoing interim CEO Howard Schultz, who will stick around to help implement it. The plan is expected to address efficiency at its cafes and improve employee turnover rates. Read more here.

  • Inflation showed signs of easing in several industries in August. Gasoline prices fell sharply in August, airfares dropped, and used cars and hotels ebbed, while rent increases also gave hints of slowing, according to private firms that track such data. Still, food prices continued to soar this past month and prices for a range of goods and services remained much higher than a year earlier, the figures show.

  • Rail worker strike could imperil $2 billion per day. Starting Monday, US railroads said they would delay shipments of some materials in advance of a potential strike by more than 90,000 rail employees. The US economy would lose $2 billion every single day that trains aren’t moving, the Association of American Railroads (AAR) said in a report.  Congress has the power to block a strike from happening if a deal isn’t reached this week.

  • General Electric confirmed the early January 2023 spinoff of its GE Healthcare business. GE named 10 executives to sit on the board of the newly independent GE HealthCare, starting with the division's current president and CEO Peter Arduini, and including Larry Culp (GE's current chairman and CEO) as well. Other members hail from academia, hospital networks, accounting firms, and even tech company HP.
Share this post