Global investors are digging in for a long week as Tuesday's coin-toss U.S. presidential election could take days to call.
Zoom in: Financial giants, including Goldman Sachs and JPMorgan Chase, are staffing up overnight teams to manage volatility and high-volume activity, Bloomberg reports.
Meta will extend its ban on new election ads for the week leading up to the election until several days after the polls close, Axios has learned. The tech giant informed advertising partners about the shift on Monday.
Why it matters: The ban on new political ads was initially supposed to expire at 11:59 p.m. PT on Election Day, but Meta is extending the ban to prevent any confusion or misinformation from spreading while votes are still likely being counted.
Private equity firm Shore Capital Partners is in advanced talks to merge a pair of its veterinary practice platforms, via an $8.6 billion recapitalization sponsored by Silver Lake, as first reported by Bloomberg and confirmed by Axios.
Why it matters: This would create one of the country's largest pet services group with over 750 facilities, and is being driven by the pandemic-era boom in pet ownership.
Members of The New York Times Tech Guild, which represents more than 600 tech workers at the outlet, walked off the job Monday morning in protest of stalled contract negotiations and alleged unfair labor practices by The Times' management.
Why it matters: Those striking workers help power editorial products critical for election coverage, including mobile push alerts, app and website maintenance, and The Times' real-time election result infographics.
If Donald Trump wins tomorrow's election, the task of filling thousands of political roles will largely fall to Howard Lutnick, CEO of Cantor Fitzgerald and co-chair of Trump's presidential transition team.
Back home on Wall Street, meanwhile, Lutnick seems intent on reviving the moribund SPAC market.
Driving the news: Cantor Fitzgerald on Friday filed IPO registration for its 10th sponsored SPAC, each of which features Lutnick as CEO.
The big picture: The booming market is prompting some investors and agencies to call for more transparency into a corner of Wall Street that operates mostly in the dark.
U.S. homebuyers are now the oldest on record, with the median age of first-timers reaching 38, according to a new report.
Why it matters: That's up from 35 last year and marks a new high in data going back to 1981, the National Association of Realtors (NAR) announced Monday.
Nvidia is among the few companies worth $1 trillion or more. Now the AI chipmaker joins another exclusive club: one of 30 blue-chip stocks in the Dow Jones Industrial Average.
Why it matters: This week Nvidia replaces Intel in the Dow, a sign of how much generative AI now dominates the tech sector.
Fairshake, the crypto-oriented political action committee, has over $78 million on hand for next Congressional election cycle, with a new commitment from the venture capital firm Andreessen Horowitz (a16z).
Why it matters: The $169 million crypto firms deployed in the 2024 Congressional races put blockchain technology onto the agenda of American legislators for the first time.
