Shutdown Deja Vu | Sound Of The NFT | Counting Chinese Tech Billionaires’ Losses

Plus: Fintech’s Fraud Problem: Why Some Merchants Are Shunning Digital Bank Cards

Good morning.

We’ve been here before—Congress passed a continuing resolution to fund the federal government for at least a few more months after reaching a last-minute deal. A shutdown is averted for now, but yet another standoff looms in February. We’re also covering the release of a song in NFT format, and the net worth losses of some of China’s top tech billionaires. Finally, don’t miss this story on why some merchants are wary of digital bank cards.

In The News Today

Chinese ride-hailing company Didi appeared to bow to pressure from Chinese regulators, announcing it will delist from the New York Stock Exchange and prepare for a public listing in Hong Kong.

New Zealand’s largest city emerged from a 108-day lockdown as the country prepares to live with coronavirus, moving away from its previous “zero Covid” approach. 

Top Take-Aways

The U.S. has once again narrowly avoided a government shutdown—at least until February—after the Senate passed a continuing resolution to fund the federal government that had cleared the House earlier on Thursday.

Some of the biggest billionaire supporters of Donald Trump have shunned large political donations this year—they may get back in the giving spirit when the midterms roll around next year.

The fortunes of China’s richest Internet billionaires are still dwindling under pressure from government regulators, with four of the country’s best-known tycoons, Colin Huang, Jack Ma, Pony Ma, and Wang Xing, particularly affected by the fall in their companies’ share prices.

Rumble, a social media business with a strong following among conservative Americans, aims to go public next year in a merger with an investment company initially created by Cantor Fitzgerald, a decades-old Wall Street bank whose shares vaulted on the news.

Chip giant Nvidia’s proposed acquisition of British company Arm has hit another roadblock—the highly scrutinized $40 billion deal is now the subject of a lawsuit from the U.S. Federal Trade Commission.

DJ DeadMau5 plans to go platinum in the crypto era, collaborating with rock band Portugal The Man on “This Is Fine,” a new single minted as a non-fungible token (NFT) that poses somewhat of a public challenge to the music industry.

Today's Must Read

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Tips You Can Trust

When looking to fill a role, it could be worth checking with employees who’ve left the company whether they’d consider coming back. Here’s how to go about recruiting “boomerang” employees.

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