Here is a rundown of Cheddar News' top trending market stories of the day.
RECESSION OUTLOOK
After Friday's historic jobs report, which showed the U.S. economy adding half a million new positions despite a slew of recent high-profile tech layoffs, recession blues are waning. Economist Larry Summers, former Treasury secretary under president Bill Clinton, told CNN's Fareed Zakariaha on Sunday that it is now more likely the Federal Reserve will pull off a "soft landing" (i.e. avoid a recession), even as he stressed that the economy is not "out of the woods" yet.
APPLE'S NEW IPHONE
Apple tracker Mark Gurman said the tech giant is currently deciding whether it will release a new, more expensive iPhone called "Ultra" in the near future, which could arrive on shelves as part of the iPhone 16 lineup in 2024. Gurman speculated that this new model would actually be more expensive than the iPhone Pro and Pro Max models, which start at $1,099.
TWITTER COMPETITOR
Kevin Systrom and Mike Krieger, co-founders of Instagram, last week revealed details about their latest project: a social media app designed to compete with Twitter. Called Artifact, the entrepreneurs described the app as a "personalized news feed using the latest AI tech." Right now, the app is only accessible via invitation only, but those interested in a Twitter alternative can sign up for a wait list to eventually test out if Artifact is a serious contender.
ACTIVISION BLIZZARD SETTLEMENT
Activision Blizzard, the company behind Call of Duty and Overwatch, has settled charges over its handling of workplace harassment and discrimination claims with a $35 million fine. The Securities and Exchange Commission released a statement saying the company was aware that it lacked sufficient procedures to address the problem and needed to be more proactive to collect and assess the complaints.
People are making travel plans and booking tickets as the holiday season nears. Johannes Thomas, CEO of Trivago, joined Cheddar News to provide tips on saving when booking lodging ahead of Thanksgiving and Christmas.
Elon Musk unveiled 'Grok,' his new A.I. chatbot over the weekend, adding that it will be more rebellious than its counterparts. Cheddar News breaks it down.
Heinz is combining two popular flavors for its new condiment, pickle ketchup.
Federal health officials are expanding an investigation into potentially lead-tainted pouches of apple cinnamon fruit puree marketed for children amid reports of more illnesses and additional product recalls.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Maks Chmerkovskiy and wife Peta Murgatroyd, of "Dancing With the Stars" fame, are branching out into skincare.
Donald Trump began testifying Monday morning in his civil fraud trial, producing the spectacle of a former president and the leading Republican presidential candidate defending himself against allegations that he dramatically inflated his net worth.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
