Newsletter Oct 11, 2023

Quick Six

Biden vows to defend Israel in wake of Hamas terror attack
President Joe Biden called the Hamas attacks to Israel an "act of sheer evil" and vowed to support Israel's response. Biden blamed the "bloody hands of the terrorist organization Hamas" for the attacks. He said 14 American citizens were killed in the attacks and others are still being held hostages. Biden said the U.S. will provide military equipment to its ally, including ammunition and interceptors, and warned others who may interfere in the crisis.
SEE ISRAEL'S RESPONSE TO HAMAS' TERROR ATTACKS

PepsiCo beats expectations, listens to customer demands
PepsiCo beat expectations for its third-quarter earnings by raising prices and adjusting products to the increasing consumer demand for smaller and healthier snacks and beverages. Revenue in the quarter ended in September rose 7% from a year earlier to $23.45 billion, the company said. Earnings per share jumped 15% to $2.24. Analysts at Zach Equity Research expected revenue of $23.4 billion and $2.17 earnings per share for the period.
WHAT COMPANIES ARE LEARNING ABOUT CUSTOMERS

Inflation, interest rates hit US, UK, Canada small businesses
The persistence of inflation and the rise of borrowing costs worldwide are taking their toll on small businesses around the nation. That's the finding of a recent report, which provides a comprehensive view of small business employment trends for the U.S., Canada and the U.K. The report utilizes both data/trends seen in product as well as new data based on third-party research and analysis on everything from financial health to global SMBs.
SEE THE KEY FINDINGS OF THE REPORT AND THE COSTS

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Markets

DJIA	33,739.30	0.40%
S&P 500	4,358.24	0.52%
Nasdaq Composite	13,562.84	0.58%
Japan: Nikkei 225	31,746.53	2.43%
UK: FTSE 100	7,628.21	1.82%
Crude Oil Futures	85.90	-0.08%
Gold Futures	1,873.70	-0.09%
Yen	148.64	-0.05%
Euro	1.06	0.01%
* As of market close

SBF's girlfriend Ellison testifies at FTX trial

Caroline Ellison, the former CEO of Alameda Research took the stand on Tuesday and during the brief time that she testified, revealed that the now-defunct crypto hedge fund has an "essentially unlimited" line of credit at FTX. Ellison, an insider into FTX founder Sam Bankman-Fried's personal and professional life, told the court that they defrauded customers, lenders and investors of the now-defunct crypto exchange platform. "He directed me to commit these crimes," she testified.

SEE HOW FTX AND ALAMEDA ARE CRUMBLING IN COURTROOM

Republicans meet to pitch speaker nominee

House Representatives of the Republican Party met late Tuesday to hear the pitches of their candidates for job of Speaker of the House. Representatives Jim Jordan of Ohio and Steve Scalise of Louisiana entered the race to replace Kevin McCarthy, who last week became the first speaker to be removed from the post. The closed-door meeting came before a secret-ballot vote Wednesday to pick a nominee.

SEE WHO THE FRONT-RUNNERS ARE TO BE HOUSE SPEAKER

EU claims X spreads Hamas misinformation

The European Union's digital chief Thierry Breton warned Elon Musk on Tuesday that his platform X, formerly Twitter, is spreading "illegal content and disinformation" about Hamas' terror attack against Israel. The letter said concerns had heightened after the Hamas attack against Israel, and demanded Musk respond to the complaint within 24 hours and contact "relevant law enforcement authorities" on the issue.

SEE WHAT MUSK IS SAYING ABOUT MISINFORMATION CLAIMS

Extra point

What was the first message sent on Twitter? How much did it sale for?

Tuesday's answer: Over 260 individuals representing 20 countries and five International Partners have visited the International Space Station.

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