Bloomberg - Evening Briefing - Facebook faceplants

It was a week that Mark Zuckerberg would probably rather forget, and one that may end up being a turning point for Facebook itself. At a U.S. Senate hearing, whistleblower Frances Haugen called out the social media behemoth for allegedly placing profit before child safety, society and democracy. Amid a storm of criticism, Zuckerberg responded with a “not true.” And Cathy O’Neil writes in Bloomberg Opinion that the platform’s harmful algorithms are just too big to fix. Also this week, Facebook services including Instagram and WhatsApp went dark for several hours, making a winner out of Snapchat and helping send Facebook shares down the most since the coronavirus pandemic began.

What you’ll want to read this weekend

U.S. employment data for September was mixed, as weak job creation offset strong wage growth. One item of concern: the reopening of schools failed to boost the number of women in the workforce. The labor market really isn’t making the Federal Reserve’s job any easier, Brian Chappatta writes for Bloomberg Opinion.

Apple wants to control more than your car’s music. The iPhone maker is working on technology that would access functions like the climate-control system, speedometer and seats. But automakers now  have to wait even longer to get their chips delivered—in case you’d forgotten, the average car has 1,400 semiconductors.

Humans are the weakest link in supply chains. MIT’s “beer game” shows the urge to hoard is alive and well among the next crop of wannabe corporate managers. China’s energy crisis is hitting everything from sheep farmers to cardboard box-makers.

Students at MIT Sloan School of Management playing the beer game, a role-playing simulation designed to teach principles of management science.

Courtesy: MIT Sloan School of Management

How does your company stack up on the gender pay gap? Men working in finance in London made 25% more than women last year. Pepsi’s former CEO Indra Nooyi, one of few women of color to ever run a large public U.S. company, said she never asked for a raise and turned one down during the financial crisis.

Demand for travel is declining as the surge of delta cases prompts Americans to stay closer to home. Chinese consumers are also shunning tourism, with trips during the “Golden Week” holiday down by one-third. But if you’re ready to take the plunge, Bloomberg’s travel tracker shows where you can go—and what it might be like when you get there.

Tourists on the streets of Shanghai.

Photographer: Qilai Shen/Bloomberg

What you’ll need to know next week

  • U.S. inflation numbers are expected to remain high.
  • JPMorgan and Goldman Sachs kick off Wall Street earnings.
  • The IMF and World Bank hold their annual meetings.
  • FDA is to consider booster doses of Moderna’s Covid vaccine.
  • Star Trek’s William Shatner is boldly going into space.

What you’ll want to read in Businessweek

Twentysomethings Are Joining the SPAC Rush

The trajectory of so-called blank-check companies—vast pools of cash in search of investment opportunities—has morphed from a niche product aimed at financial professionals into a mass-market phenomenon. Almost 600 of these special purpose acquisition companies, or SPACs, are trading in New York, and high-profile financiers have jumped in. Now the kids are joining the party. More than a dozen people age 30 and younger have been named as executives or board members at blank-check companies that have filed listing plans since June.

Illustration: Sam Island for Bloomberg Businessweek

Illustration: Sam Island for Bloomberg Businessweek

Like getting Weekend ReadingSubscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and gain expert analysis from exclusive subscriber-only newsletters.

Bloomberg Hyperdrive: We’ve launched a newsletter about the future of cars, written by Bloomberg reporters around the world. Sign up to get Hyperdrive in your inbox.

Download the Bloomberg app: It’s available for iOS and Android.

Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more.

Older messages

Elon gets even richer

Friday, October 8, 2021

Bloomberg US 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

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

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