Axios

The slow-motion collapse of Rite Aid threatens to eliminate the nation's third-largest drugstore chain.

Why it matters: With about 2,100 stores and more than 45,000 employees — including 6,100+ pharmacists — Rite Aid filed for Chapter 11 bankruptcy protection on Sunday, hoping to emerge as a sustainable enterprise.

Poland's right-wing authoritarian leader looks like he's been voted out; the pro-European democrat is in. And the market loves it.

Why it matters: The European Union was always conceived of as a union of liberal democracies. In recent years, however, it has struggled with that conception as Poland and Hungary elected anti-democratic leaders.

A top executive at failed crypto exchange FTX testified Monday that he grew uncomfortable with the company's lavish spending directed by his old boss, Sam Bankman-Fried.

Why it matters: Nishad Singh is one of the prosecution's star witnesses, as one of the earliest employees of FTX's sister trading firm, Alameda Research, and one of Bankman-Fried's roommates.

The Daily Wire, a conservative media brand known for its popular podcast "The Ben Shapiro show," has debuted a new subscription streaming app exclusively for kids entertainment content, called Bentkey.

Why it matters: The new platform, launching on the 100th anniversary of the founding of the Walt Disney Company, was built in response to Disney's positioning on Florida's Parental Rights in Education bill, known as the "Don't Say Gay" bill.

The U.S. government's fiscal outlook has become markedly worse in the last couple of months — not because of anything happening on Capitol Hill, but because of shifts in global bond markets.

Why it matters: An upward shift in long-term interest rates is putting the government on track to spend much more on interest payments in the coming years than was anticipated just a few months ago.

For years there have been scattered stories about the rise of Palestinian tech startups; plucky entrepreneurs seeking to forge prosperity against long odds.

Driving the news: Today, much of that is either on hold or severely hampered, as the war between Hamas and Israel rages on.

Union leaders representing tens of thousands of Kaiser Permanente health care workers said on Friday morning that they'd reached a tentative labor agreement with the health system.

Why it matters: The tentative deal averts another strike by Kaiser workers; their three-day work stoppage earlier this month was the largest ever in the U.S. health-care industry.

Ford Motor Co. executive chairman William Clay Ford Jr. urged striking workers to end their historic walkout, saying the company's future — and workers' livelihoods — are on the line.

Why it matters: In his first public remarks since the strike, the great grandson of company founder Henry Ford said the unprecedented UAW work stoppage that began Sept. 15 has put the automaker at a crossroads.

The U.S. is failing less-educated people given the dismal life expectancy prospects they face compared to their more educated peers, researchers said.

Why it matters: While the U.S. economy outperforms other countries by metrics such as economic growth and inflation rates, two prominent economists argue the life expectancy gap says otherwise.

Unlike their counterparts in other rich nations, Americans have been burning through their pandemic-era cushion of extra cash.

Why it matters: Having a smaller stash for a rainy day may be risky for any one individual, but in the aggregate, the U.S. consumer's propensity to spend has made America's pandemic recovery the strongest among major economies.

More than 330,000 American workers — from Hollywood actors to medical technicians — have participated in strikes since the start of September, according to Cornell University's labor tracker.

Why it matters: Labor unions enjoying their highest approval ratings in generations are deploying hardball tactics in far-reaching sectors of the economy.

Food consultancy Datassential used a custom formula and an enormous database of restaurant menus to determine that (drum roll, please)... San Francisco is the country's most "food-forward" city.

The big picture: This doesn't necessarily mean it has the best food — just that it has the greatest diversity of cuisines, lots of "emerging" foods, and plenty of residents who seek out gustatory novelty.

Young people across the U.S. can't afford to buy homes without major budget changes or help from family.

Why it matters: A Redfin report on "nepo-homebuyers" found 38% of recent buyers under age 30 received family money in order to afford their down payment.

Rite Aid filed for Chapter 11 bankruptcy protection Sunday and said it plans to close "underperforming stores."

Why it matters: The Philadelphia-based drugstore chain's bankruptcy filing comes as it faces federal, state and other lawsuits tied to allegedly filling unlawful prescriptions for controlled substances, including opioids.

An Illinois man has been charged after a stabbing outside Chicago that left a 6-year-old Muslim boy dead and his mother critically injured in an attack police said was connected to the Israel-Hamas war.

The latest: The Department of Justice has "opened a federal hate crimes investigation into the events leading to the tragic death of Wadea Al-Fayoume and the serious injuries suffered by his mother, Hanaan Shahin," per a DOJ statement late Sunday.

Taylor Swift's concert film on The Eras Tour raked in $95 million-$97 million at the box office in the U.S. and Canada during its opening weekend, AMC Theatres said Sunday.

Why it matters: It's the highest-grossing concert film in North America for an opening weekend on record.