LinkedIn is finding ways to stay in China despite increased censorship pressure from the country's government to limit social posts and news sharing.

Catch up quick: The company today announced that its new jobs posting app, InJobs, would launch later this year to replace its local LinkedIn service amid "greater compliance requirements" in the country.

• The decision comes two weeks after Axios first reported on LinkedIn’s censorship of several journalists, including Axios China reporter Bethany Allen-Ebrahimian.

Why it matters: LinkedIn's new toehold solution protects its main brand while operating under similar amounts of local scrutiny. 

• If successful, InJobs could set a precedent for newer social platforms looking to do business in China (without the kind of political baggage that Twitter and Facebook have), says Bethany.

Backdrop: For the past seven years, LinkedIn has abided by censorship rules and allowed its platform to be owned by Chinese nationals — a model Beijing once touted as one that other internet businesses could follow if they wanted the same kind of market access.

• It’s unclear if InJobs will operate the same way. But because the new app will be stripped of social features (feeds, sharing, posts), it will likely face fewer content restrictions. 
• Yes, but: Similar criticisms over censorship will also likely remain.

What they’re saying: "[W]e will continue to have a strong presence in China to drive our new strategy," a LinkedIn spokesperson tells Axios.

The intrigue: Microsoft, which owns LinkedIn, makes less than 2% of its revenue from its business in China, and LinkedIn has intense competition with other job apps in the country.

• "China represents a large market with a lot of revenue potential, if only Microsoft can find a better means of capturing that revenue," Sara Hsu, visiting scholar at Fudan University, tells Axios.

Lending profits helped boost Bank of America's and Morgan Stanley’s third quarter. 

• Net interest income jumped 10% and 52%, respectively, over last year, the companies reported this morning. 
• Comparatively, it fell for Wells Fargo and Citigroup.

Where else they were strong: Investment banking fees rose 65% at Bank of America.

• For Morgan Stanley, fees reached a new quarterly record.
• Citigroup’s fees more than tripled from last year. 

By the numbers: Profits jumped 59% at Wells Fargo, 58% at Bank of America, 48% at Citigroup and 36% at Morgan Stanley. 

• JPMorgan, which reported on Wednesday, reported a 24% increase in profit.
• Still to come: Goldman Sachs tomorrow.

What to watch: Consumer and business spending are pacing above pre-pandemic levels, signaling a greater appetite for debt, which is good for all of the banks.

📈 GitLab debuted on the Nasdaq today with the stock closing up 10% from its $94.25 open price, and 35% from its $77 IPO price. (CNBC)

💰Coinbase is proposing the U.S. form a dedicated crypto regulatory body, marking another ramp-up in its public fight with the SEC. (Coindesk)

🛍 Macy's is facing pressure from activist shareholder Jana Partners to spin off its e-commerce business. (WSJ)

Eviction rates are still at historic lows.

Why it matters: Fears that evictions would skyrocket after the Supreme Court blocked President Biden's COVID moratorium in August have not come to pass — yet.

• Landlord court filings were up 8.7% last month from August — roughly half of the average, pre-pandemic September rate — Eviction Lab data shows, per WSJ. 

Yes, but: Patterns varied across the country.

• Cities without local protections or rental assistance such as Houston, Milwaukee and Phoenix have seen evictions above or nearing historical averages.

The big picture: Goldman Sachs has estimated that 2.5 million–3.5 million renters are behind on payments and roughly 750,000 households are in danger of eviction.

Lego's newest collaboration target is ... Target.

• Starting in early December, the retailer will sell nearly 300 bricks-inspired items, from clothing and accessories to home goods.
• Most items will run under $30 with the top-selling item $120.

The big picture: Lego has put its mark on everything from Levi's and Adidas to IKEA and Super Mario 64.

"For passengers on American and Southwest, you need to be prepared that you may have a chaotic Thanksgiving and Christmas.”