The U.S. State Department raised its advisory for Israel on Wednesday to "Level 3 — Reconsider Travel" due to the war with Hamas.
The big picture: The State Department said in a separate online post that it was "exploring contract options to facilitate U.S. citizen travel to nearby countries, and will provide updates to U.S. citizens who have registered via our online form."
Why it matters: The union's aggressive turn is setting a new tone for the labor movement at a time when public support for unions is at a six-decade high, even as membership is at a record low.
A consortium of investors led by Sixth Street is buying Goldman Sachs's GreenSky in a deal that will result in a hit to earnings for the banking giant, the company announced Wednesday.
Why it matters: The sale is yet another blow to Goldman CEO David Solomon's early expansion strategy.
The Consumer Price Index is due out Thursday at 8:30am EST. While it's a number that always matters for understanding inflation trends, this one has extra significance.
Why it matters: September's CPI is the final data point needed to calculate the cost of living adjustment that 71 million recipients of Social Security retirement and disability benefits see for 2024. It looks likely that the COLA will be in the low 3% range.
Alameda Research bribed a Chinese government official to unlock $1 billion of its frozen funds on other crypto exchanges connected to money laundering, its former CEO testified Wednesday in the criminal trial of Sam Bankman-Fried.
Driving the news: In Caroline Ellison's continued testimony, she said that — at the FTX and Alameda co-founder’s behest — the firm sent a $150 million payment to the unidentified official.
Why it matters: The Federal Trade Commission (FTC) proposed a new rule Wednesday to ban the use of "bogus" fees, the latest action in a wider crackdown on the hidden costs that set consumers back "tens of billions of dollars" annually, per an FTC press release.
Israel's venture capital industry appears to be running on parallel planes, based on conversations with investors on the ground and some of their U.S. colleagues.
First and foremost is war. The real one, rather than the metaphorical "battles" over deals.
The world's second-biggest economy continues to grind its gears, as its crucial property industry flails.
Why it matters: At its peak, China's residential property sector was thought to contribute an estimated 25%-30% of the country's GDP. Its ongoing struggles present a challenge to economic growth in China that will ripple out to other nations — as China has been the largest single source of growth for the world economy in recent decades.
Behind the surge in U.S. government bond yields over the last six months is a simple fact: China and the Fed — long the two biggest single players in the market — aren't buying.
Why it matters: In recent decades, the two acquired trillions of dollars worth of U.S. Treasury bonds, financing the big deficits that emerged after the financial crisis of 2008 and the COVID pandemic.
