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SpaceX announced an agreement to acquire an 800 megahertz nationwide spectrum portfolio from Grain Management, expanding its Starlink service deeper into the U.S. telecommunications market. The deal, pending FCC approval, sent shares of traditional telecom carriers AT&T, Verizon, and T-Mobile tumbling in extended trading as SpaceX positions itself as a competitive threat in the sector.

• SpaceX is acquiring an 800 megahertz spectrum portfolio from Grain Management, a digital infrastructure specialist
• The deal requires approval from the Federal Communications Commission before closing
• Traditional telecom stocks (AT&T, Verizon, T-Mobile) dropped in extended trading on competitive concerns from SpaceX's Starlink expansion

US stocks closed mixed Thursday with the Nasdaq falling 1.24% as AI and semiconductor stocks declined following reports about OpenAI's revenue challenges and capital needs. Rising oil prices from Middle East tensions added to inflation concerns, while the Dow gained 0.09% and the S&P 500 fell 0.46%.

• AI semiconductor stocks, which had gained over 80% year-to-date, sold off sharply after reports highlighted OpenAI's large capital requirements and funding needs, with Nvidia, AMD, Oracle, and Broadcom all declining.
• Oil prices surged 3-4% on Middle East supply concerns (Brent +3.6%, WTI +3.19%), with US crude up more than 60% for the year, fueling inflation worries and raising expectations of a 70% probability for a December Fed rate hike.
• Treasury yields remained elevated near multi-year highs, with the 10-year yield at 5.22% and 30-year at 5.60%, as markets price in potential further rate increases despite Fed flexibility on timing.

Coca-Cola is reportedly seeking to sell Costa Coffee, the British coffeehouse chain it acquired for $5.1 billion in 2018. An earlier sales process failed in early 2024 when private equity offers came in below the company's expectations, but Coca-Cola is now looking to revive the divestiture.

• Coca-Cola purchased Costa Coffee in 2018 for $5.1 billion as part of its strategy to expand into healthier beverage options
• A previous attempt to sell Costa earlier in 2024 failed after private equity bids were below expectations
• At least one strategic buyer considered acquiring Costa but declined due to valuation and strategic concerns; the potential sale price remains undetermined

The U.S. Treasury Department has sanctioned 17 additional vessels linked to Iran's 'shadow fleet' used to transport oil and gas, as part of 'Operation Economic Outcast' aimed at pressuring Tehran's economy. The sanctions target vessels registered under multiple jurisdictions responsible for transporting millions of barrels of Iranian crude and petrochemical products, with the goal of cutting off revenue that funds Iran's regime and terror proxies.

• The sanctions are part of a broader U.S. pressure campaign that began over seven months ago to end ongoing regional conflict
• The 17 vessels are registered under more than a dozen different jurisdictions and transport millions of barrels of Iranian petroleum products
• Treasury Secretary Scott Bessent stated that no enabler of Iranian sanctions evasion is safe from the full force of Treasury's authorities

Airbus delivered 72 aircraft in September 2026, bringing its nine-month total to 547 planes, an 8% increase year-over-year. The planemaker is targeting approximately 870 deliveries for the full year, up 10% from 2025, despite ongoing supply chain challenges.

• September deliveries of 72 jets were essentially flat compared to 73 planes delivered in the same month last year
• Airbus secured 17 new orders in September, bringing gross orders to 1,174 jets for the year, with net orders at 1,105 after three cancellations
• The company maintained its full-year delivery target of around 870 aircraft despite earlier concerns about cumulative supply chain delays

Revolut CEO Nik Storonsky stated in a Bloomberg TV interview that the digital bank would favor a primary listing in the United States if it decides to pursue an initial public offering in the future. This signals the fintech company's preference for US capital markets over other potential listing venues such as London.

• The CEO's comments indicate Revolut is considering US markets as its primary IPO destination, reflecting broader trends of companies seeking liquidity and valuations in American exchanges
• Revolut, a major digital banking platform, has not yet committed to a specific IPO timeline but is signaling its strategic preference for listing location
• Reuters could not immediately verify the report independently at the time of publication

Trump Accounts, tax-deferred investment accounts for children, have enrolled nearly 70 million kids with over $4.5 billion deposited. New Treasury regulations now allow stock donations to these accounts, potentially opening the door to large philanthropic gifts including commitments in the nine-digit range. Children born between 2025 and 2028 receive a one-time $1,000 deposit from the U.S. Treasury.

• IRS CEO Frank Bisignano confirmed 'mega donors in the nine-digit range' are preparing to contribute, with several major gifts in the pipeline following new rules allowing individual stock donations to Trump Accounts.
• Over 60 million accounts were auto-enrolled this month, with total deposits exceeding $4.5 billion from seed money, family contributions, and philanthropic gifts including commitments from tech CEO Michael Dell and Altimeter Capital CEO Brad Gerstner.
• Donated stocks must be held for five years before being sold, creating concentration risk for individual account holders while offering tax advantages to wealthy donors who can avoid capital gains taxes on appreciated stock.

American Airlines announced it will equip its entire mainline fleet of over 1,000 aircraft with SpaceX's Starlink satellite internet service starting next year, expanding from an initial plan covering roughly 500 Airbus planes. The rollout will now include over 530 Boeing aircraft, offering passengers internet speeds up to 1 gigabit per second.

• The expansion doubles the original scope announced in May, which covered only 500+ Airbus aircraft
• Starlink's Performance Aero Terminal will deliver speeds up to 1 gigabit per second across American's 1,030+ aircraft fleet
• Financial terms were not disclosed; the fleet includes over 900 single-aisle planes and the remainder widebody aircraft

President Trump disclosed buying up to $1.6 million and selling up to $1 million in Nvidia stock in August, with the disclosure released as he prepared to award Nvidia CEO Jensen Huang the National Medal of Science. The trades raise questions about potential conflicts of interest as the Trump administration weighs policies affecting Nvidia's business, including chip export regulations. The White House stated that independent financial managers handle Trump's portfolio without his involvement.

• The Nvidia trades were among hundreds made in August, with the disclosure signed September 17 and released publicly on the day of Huang's award ceremony
• Trump's administration is currently weighing policies that could significantly impact Nvidia's business, particularly rules governing exports of advanced chips
• White House spokesperson stated that third-party institutions independently manage the president's portfolio to replicate 'recognized indexes, such as the Schwab 1000' with no conflicts of interest

The US government has suspended Microsoft, Adobe, and several major IT firms from the PERM green card program, citing alleged fraud and pushing companies to hire more American workers. The suspension prevents these companies from filing new or processing pending permanent labor certification applications required for employment-based green cards. Additionally, nine universities including Harvard, Yale, and Stanford will be investigated for allegedly using international students to undercut American wages.

• Suspended IT firms include Microsoft, Adobe, Cognizant, Infosys, Tata, Wipro, HCL, and Capgemini, blocking their ability to sponsor foreign workers for permanent residency through the PERM program
• Vice President JD Vance stated the message to Microsoft is 'you've got to hire great American workers,' framing the action as prioritizing domestic employment over foreign worker programs
• Nine major universities received subpoenas for investigation into alleged visa abuse, improper financial relationships, and whether foreign influence is compromising federally funded research

Starbucks has explored a potential takeover of Chipotle Mexican Grill, according to a Financial Times report citing sources familiar with the matter. The deal would unite two major US restaurant brands and strengthen ties between Starbucks CEO Brian Niccol and Chipotle, where he previously built his reputation. Starbucks has worked with advisers in recent months on a takeover proposal, though neither company has commented.

• Niccol led a turnaround at Starbucks over the past two years through menu simplification and reduced wait times, achieving four straight quarters of comparable sales growth
• Chipotle has been facing challenges from weak consumer demand and rising input costs amid persistent inflation
• The acquisition would deepen Niccol's connection to Chipotle, where he established his leadership credentials before joining Starbucks

AkzoNobel and Axalta Coating Systems are expected to receive conditional EU antitrust approval for their $25 billion merger by pledging to sell Axalta's vehicle refinish business. The deal, announced in November last year, reflects consolidation among paint makers responding to rising costs and tariff uncertainties. The European Commission's current October 22 deadline will be extended by 10 working days once the companies submit their remedy offer next week.

• The companies will offer to divest Axalta's vehicle refinish business to address EU competition concerns, while earlier issues regarding powder coatings overlaps have been resolved
• The $25 billion merger represents part of a broader consolidation wave in the paint industry as manufacturers seek cost savings amid rising expenses and tariff uncertainties under US trade policies
• Key competitors in the coatings market include BASF's coatings business, Nippon Paint, Sherwin-Williams, and Kansai Nerolac, with Axalta having particularly strong presence in the US market

President Trump's August financial disclosure reveals he purchased up to $25 million in Meta stock and up to $5 million in SpaceX debt, part of 517 total transactions worth roughly $74.3 million to $273.3 million. The SpaceX investment came two days before Trump signed a policy aimed at expanding U.S. commercial space transportation, raising potential conflict-of-interest concerns.

• Trump bought $1-5 million in SpaceX senior unsecured notes on August 18, two days before signing a policy directing federal agencies to support more than 1,000 annual launches by 2030
• The largest single transaction was a $5-25 million Meta stock purchase on August 21, accompanied by investments in AT&T and other companies
• Trump's trading activity totaled 517 purchases and sales in August, down from over 1,000 transactions reported in both June and July

Amazon launched its first Android-based tablets featuring Alexa+ voice assistant, with prices ranging from $230 to $550, marking a strategic shift from budget devices to premium products. The move transitions away from Amazon's Fire OS platform after years of complaints from consumers and developers. This comes as Amazon holds just 1.9% of the global tablet market, down from 8% a year earlier, while worldwide tablet sales declined 12% in Q2.

• Tablets require Prime membership or Alexa+ subscription to access the generative AI assistant, and cost up to $550 compared to Amazon's previous top Fire HD 10 tablet at $180
• Amazon's global tablet market share dropped to 1.9% in Q2 2025 from 8% a year prior, while Apple leads with 34% and Samsung holds 17.5%
• Switch to Android from Fire OS gives users access to Google Play Store apps, addressing long-standing developer and consumer complaints about limited app availability

Viatris announced it will acquire pain therapy maker Pacira Biosciences for $1.65 billion at $36.50 per share. The acquisition is part of Viatris' strategy to expand its innovative medicines business focused on branded and patent-protected treatments. The deal is expected to close by the end of 2026 and be immediately accretive to Viatris' financial metrics.

• Purchase price is $36.50 per share, valuing Pacira Biosciences at $1.65 billion total
• The acquisition supports Viatris' expansion into innovative medicines with branded and patent-protected treatments
• Deal expected to close by end of 2026 and be immediately accretive to Viatris' financial guidance metrics

Goldman Sachs Group's top executives are set to receive special equity awards worth over $500 million, originally granted in October 2021 and expected to finalize this month. About 20 executives, including CEO David Solomon who will receive more than $100 million, are receiving these performance-based awards reflecting a five-year period of outperformance against rivals.

• CEO David Solomon is set to receive over $100 million, with other top recipients including President John Waldron and business heads Ashok Varadhan, Dan Dees, and Marc Nachmann
• The awards were initially granted in October 2021 with details disclosed in filings from late 2021 and early 2022, and are now being finalized after the performance period
• The performance-based compensation reflects Goldman's five-year outperformance of most rivals and is designed to align executive pay with long-term results and retain senior talent

Mexico's auto exports fell 12% year-over-year in September 2026, marking the steepest decline this year, as the industry faces effective US tariffs of 10-12% during ongoing USMCA review talks. The slump affects Mexico's top industrial sector, though domestic sales rose 8% to partially offset losses. Analysts warn continued declines could signal structural problems for Mexican manufacturing given its heavy reliance on the US market.

• Monthly auto production slumped 15% while exports to the US declined 5% in the first nine months of 2026; Mexico still supplies 16% of light vehicles in the US market
• General Motors, Ford, Nissan, and Mercedes-Benz posted significant export declines, while Kia, BMW, and Mazda increased shipments, with Mazda more than doubling monthly exports
• Canada, Mexico's second-largest market, increased purchases by over 9% in 2026, providing some diversification as uncertainty over US trade policy affects investment decisions

PepsiCo reported third-quarter earnings and revenue that beat Wall Street expectations, driven by international growth. However, the company lowered its full-year earnings forecast with one quarter remaining in 2026, as its North American business continues to underperform compared to international markets.

• Q3 earnings per share of $2.34 (excluding items) and revenue of $25.27 billion both exceeded analyst estimates
• Net sales rose 5.6% while organic revenue increased 3.1% during the quarter
• North American business continues to lag behind international markets, prompting a reduced full-year earnings outlook

CNN, MSNOW and Politico are seeking a federal court order to extend a temporary block on President Trump's ban of their White House access, which he imposed for publishing 'fake news'. A judge already temporarily blocked the ban in September, finding it likely violated the outlets' Fifth Amendment rights to fair treatment. The legal battle comes weeks before the November midterm elections.

• US District Judge Timothy Kelly temporarily blocked the ban on September 24, ruling it likely violated the outlets' constitutional right to fair treatment under the Fifth Amendment
• The outlets argue the ban is unlawful retaliation for coverage, while the Justice Department claims they endangered national security by publishing classified information about Trump's White House ballroom construction and Republican convention turnout
• The case arrives as Trump's approval ratings hit career lows amid concerns over the Iran war and inflation, with Republicans fighting to retain congressional control in the upcoming November 3 midterms

British online fashion retailer ASOS disclosed a cybersecurity breach on Thursday that resulted in unauthorized access to customers' personal data. While personal information was compromised, the company confirmed that payment card information and account passwords were not accessed. The incident affects ASOS customers and raises concerns about data security at major e-commerce platforms.

• The cyberattack accessed customers' personal data and certain non-personal account-related information
• ASOS confirmed that no payment card information or account passwords were compromised in the breach
• The disclosure highlights ongoing cybersecurity risks facing online retailers handling large volumes of customer data