Axios

While the watch party for $100,000 bitcoin enters its second week, fans of ether are feeling left out.

Why it matters: The second largest cryptocurrency, has risen in lock step with bitcoin over the last two cycles, matching BTC's highs with highs of its own — but it's been lagging behind this time around.

Macy's got an unwelcome surprise when preparing last quarter's financial results, finding that an employee had hid up to $154 million of delivery expenses over the past three years.

The retailer today delayed its third-quarter earnings report until Dec. 11, giving it time to finish an independent investigation.

Context: The $132 million–$154 million of newly found expenses going back to Q4 2021 represents just a fraction of the $4.36 billion booked for deliveries over the period, the company said.

• Macy's said there's no indication that the incident had any impact on its cash management or vendor payments.

President-elect Trump's pick for Labor secretary, Rep. Lori Chavez-DeRemer (R-Ore.), appears to be a genuine union supporter and that's freaking out some business groups and conservative advocates.

Why it matters: Trump campaigned as a pro-worker and somewhat pro-labor candidate — though he was a decidedly anti-union president in his first term.

The centerpiece of Treasury secretary nominee Scott Bessent's economic agenda is what he calls a "3/3/3" approach to policy: cutting the budget deficit to 3% of GDP, achieving 3% annual growth, and increasing domestic oil production by 3 million barrels per day.

Why it matters: If achieved, these goals would result in a more sustainable fiscal picture, paired with much faster growth than is projected under most mainstream forecasts. But they are in tension with other aspects of President-elect Trump's agenda.

When startups collapse, the losers usually are direct stakeholders like investors, founders, and employees.

• But when fintech Synapse went under earlier this year, thousands of users also were left holding the bag. In some cases, that meant their life savings.

UniCredit has offered to buy rival Italian lender Banco BPM for €10 billion in stock.

Why it matters: The surprise bid could wreck Italian Prime Minister Giorgia Meloni's plan to create the country's third-largest bank — behind UniCredit and Intesa Sanpaolo — by selling BMPS to Banco BPM.

About three out of five U.S. adults approve of the way President-elect Trump is handling his transition into office after his election win, a new CBS/YouGov poll out Monday found.

Why it matters: The survey follows a series of controversial cabinet picks and promises to implement controversial policies that would dramatically affect American life.

Expect the White House to tout a new milestone on Monday: $1 trillion of private sector money put toward clean technology and manufacturing — investments officials say are a result of Biden-era legislation.

Why it matters: President-elect Trump is set to preside over an economy where parts of Biden's agenda live on — in the form of unfinished semiconductor factories or clean-tech projects.