Bloomberg - Evening Briefing - Elon gets even richer

U.S. employment grew in September, albeit at the slowest rate so far this year and far below estimates, possibly complicating any move by the Fed to scale back financial support for the economy. Consecutive months of sluggish hiring accompanied the brutal Covid-19 infection wave fueled by the unvaccinated. Ironically, vaccine mandates, specifically in health care and education, might be contributing to labor market churn. Still, school reopenings and the end of expanded federal unemployment benefits may lead to a pickup in hiring over the coming months as companies also boost pay. President Joe Biden touted the drop in overall unemployment to 4.8%. Here’s your markets wrapDavid E. Rovella

Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts.

Here are today’s top stories

Elon Musk is pulling away from the rest of the world when it comes to personal wealth—even from Jeff Bezos. Musk’s net worth rocketed to $223 billion according to the Bloomberg Billionaires Index, after an agreement with investors valued his SpaceX in excess of $100 billion

Speaking of economic inequality, America’s middle class now holds a smaller share of U.S. wealth than its top 1%. The middle 60% of all U.S. households by income saw combined assets drop to 26.6% of national wealth, the lowest in Federal Reserve data going back three decades. The super rich now have 27% of it all.

Lawyers and investment bankers are scrambling to hatch contingency plans for offshore holders of $2.5 billion in China Evergrande Group’s bonds. They fear the struggling real estate giant may sell off assets that would back up their claims should it finally collapse.

The U.S. government is probing whether Bill Hwang’s Archegos Capital Management engaged in market manipulation. The firm’s trading activity, including whether it concealed the size of its bets, is the focus as authorities review whether Archegos bought multiple stakes in the same companies across several banks to avoid triggering disclosure rules. As you might remember, Archegos amassed a concentrated portfolio of stocks well in excess of $100 billion by using borrowed money. It imploded in March as some of the stocks tumbled, triggering a margin call meltdown that swept across Wall Street

Bill Hwang Photographer: Emile Wamsteker/Bloomberg

The Biden administration will give a House panel investigating the Jan. 6 insurrection access to some requested documents despite some unorthodox executive privilege claims by lawyers for former President Donald Trump. The Republican has been accused of inciting his followers, including white supremacists and so-called militia groups, who then attacked Congress seeking to block the transfer of power to Biden. Five people died and hundreds have been charged in the assault on and ransacking of the U.S. Capitol.

Iceland joined other Nordic nations in halting Covid-19 inoculations with Moderna’s Spikevax shot on concern over possible side effects. Deaths in Russia linked to the coronavirus in August grew to almost 50,000, adding to a surge in fatalities that’s brought that nation’s reported total to almost 420,000. In the U.S., where at least 700,000 have been killed by the virus, just under 100,000 people are being infected every day, the first time since August the figure fell below six figures. In Wyoming, hospitals have requested state guidance on potentially rationing care. Here’s the latest on the pandemic.

Chinese President Xi Jinping is expected to make a new overture to Taiwan, days after sending a record number of warplanes near the island as part of a pressure campaign against its democratically elected government. Xi’s appeal is anticipated Saturday as part of a speech marking the 1911 uprising that toppled the last Qing emperor and led to the founding of the Republic of China.

What you’ll need to know tomorrow

How Milk Bar Makes Addictive Ted Lasso Biscuits

By all accounts, the Emmy award-winning British soccer show Ted Lasso has been an overwhelming hit. Among the show’s breakout stars are the biscuits, better known in the U.S. as cookies. For those who haven’t seen it yet, the biscuits are made by Jason Sudeikis’s title character and used to charm the team’s antagonistic owner Rebecca Welton, played by Hannah Waddingham. We have figured out how to make them.

Bloomberg has launched a new section called Odd Lots, an expansion of our popular markets podcast with Executive Editors Joe Weisenthal and Tracy Alloway. Become a subscriber to get access to Odd Lots exclusives on the latest market crazes, the weekly newsletter and much more. 

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Crisis for the holidays

Thursday, October 7, 2021

Bloomberg Senate leaders struck a deal to pull the US from the brink of default—for two months, anyway. Senate Majority Leader Chuck Schumer of New York and Minority Leader Mitch McConnell agreed to

Debt fight delay

Wednesday, October 6, 2021

Bloomberg Democrats signaled they would consider Senate Minority Leader Mitch McConnell's offer of a deal to raise the US debt ceiling into December, a tactical retreat by the Kentucky Republican

Facebook’s terrible week

Tuesday, October 5, 2021

Bloomberg The switch from fossil fuels to renewable energy was never going to be easy, and the past few weeks seem to have proven that point. The world is living through the first major energy crisis

Supply chain ‘disaster’

Monday, October 4, 2021

Bloomberg It was an ugly day for US markets. Fears over inflation, the global energy crisis and Fed tapering spooked investors again and a selloff in big tech stocks resumed. Apple cratered, sending

Energy crisis worsens

Saturday, October 2, 2021

Bloomberg Follow Us Get the newsletter The global energy supply crunch, triggered by a whole host of causes, is biting harder and encroaching further into daily life from Europe to Asia. There's a

Weekly Wrapup - The devil is in the details

Saturday, October 16, 2021

Finshots Weekly Wrapup - The devil is in the details In this week's wrapup, we talk about the credit rating agencies, Air India, and this year's Nobel prize winners. But if you want to check

China breaks the silence

Friday, October 15, 2021

View in browser Bloomberg It was another big day for the booster debate. A key advisory panel recommended US regulators approve an extra shot of the Johnson & Johnson Covid-19 vaccine. It brings

FTT Update: Tell Me You Believe In Web 3 Without Telling Me You Believe In Web 3

Friday, October 15, 2021

​ ​ ​ Hi all, Julie here. Wow, so much to put in the intro today. First, while we cover crypto news here, it's not enough. That's why we're launching a sister publication, Crypto Tonight!

💸 Money Cheat Sheet: How’s Your Self-Care?

Friday, October 15, 2021

Financial self-care, that is. Here are 31 ideas. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Trillions: The Rise of Passive

Friday, October 15, 2021

How The Asset Management Industry Got Disrupted ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

It's not a buyer's or a seller's market in housing: It's a builder's market

Friday, October 15, 2021

America needs homes, but builders aren't rushing. "People want an oversupplied market, and we just don't do that in America," an expert told Insider. View in browser Business Insider

FedEx: Two Bets on Network Effects

Friday, October 15, 2021

Plus! Aging Into Owning the Metaverse; Fake Reviews; Ads and Addicts; Coal; Diff Jobs ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

FTT: Introducing Crypto Tonight 🚀

Friday, October 15, 2021

​ ​ Hi everyone! Ian here, it's been a minute. I'm really excited to announce our first sub brand at Fintech Today—Crypto Tonight, a new weekly publication focused on the intersection of Crypto

The Daily StockTips Newsletter 10.15.2021

Friday, October 15, 2021

I've Scanned the Market for what I Consider the Best, Safest, & Most RELIABLE Profit Opportunities! (Paid Subscriber Service) ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Payments crazy for cannabis — 'Boomerang employees' — Youngkin chats Carlyle

Friday, October 15, 2021

View in browser Insider Finance Insider Finance Subscribe Welcome to Insider Finance. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go – click here for