A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Friday’s jobs report came in strong: the US economy added 261,000 new jobs in October, blowing away analyst expectations of 200,000, even as unemployment ticked up to 3.7%. But don’t let the jobs boom lull you into a false sense of employment security.
▸ Twitter on Friday announced extreme layoffs, noting that offices would be locked and badge access suspended as new CEO Elon Musk cuts about half of its 7,500-person workforce. The bottom line: Headline jobs numbers and third-quarter corporate earnings still reflect a strong economy overall. But other companies won’t be immune to the softening demand from consumers and businesses that tech companies have noted.
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Elon Musk delays $8 'blue check' Twitter verification plan until after the midterms | CNN BusinessTwitter is delaying the rollout of account verifications for its paid Twitter Blue subscription plan until after the midterm elections, a source with knowledge of the decision confirmed to CNN. Why won’t they just talk to me? ChicagoMikeSD Also until Musk has figured out how to make sure no one calls him Elon Poopy Pants It's always a good idea to shelve bad ideas.
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Twitter prepares to roll out new paid subscription service that includes blue checkmark | CNN BusinessTwitter on Saturday launched an updated version of its iOS app that promises to allow users to pay a monthly subscription to receive a blue checkmark on their profiles, a feature that Elon Musk, the company's new owner, has proposed as a way to fight spam on the platform. What do you get for paying this subscription? What's the value of having this blue check for a non famous person? The man who allegedly bought twitter to preserve freedom of speech is making all the changes to make as much money as possible.
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How the midterms could affect Wall Street | CNN BusinessLast week was a volatile one on Wall Street, with stocks falling after Federal Reserve chair Jerome Powell dashed the market's dreams of a pivot and suggested that more big rate hikes are likely coming. But Wall Street is still turning its hopes to Washington.
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NBC News pulls report on Paul Pelosi attack | CNN BusinessNBC News pulled a report about the attack on Paul Pelosi that the network said did not meet its standards. He is the husband of U.S. House Speaker Nancy Pelosi.
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Former MoviePass executives face fraud charges | CNN BusinessMoviePass's former CEO and the leader of its former parent company have been indicted on securities fraud charges for deceiving investors on the sustainability and profitability of the company's movie-a-day subscription model, according to a Department of Justice release on Friday. A war has raged between revolutionary youth & Khamenei’s repressive forces in the streets of Marivan after regime killed one of us Nasrin Ghaderi yesterday. مهسا_امینی brasilwasstolen SOS
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