The US and its Arab allies begin airstrikes in Syria. Following president Barack Obama’s vow to “degrade and destroy” the extremist group that calls itself the Islamic State, the Pentagon deployed bombers, fighters, armed drones, and cruise missiles against IS forces in the group’s de facto capital of Raqqa, Syria and along the Iraq border. Military aircraft from Bahrain, Jordan, Qatar, Saudi Arabia, and the United Arab Emirates—all Sunni governments—took part in the strikes, US officials told the New York Times.
China’s manufacturing picks up a bit of steam. The HSBC/Markit flash purchasing managers’ index for September ticked higher, suggesting that manufacturing activity is expanding. The new data should ease fears that the economy is sputtering despite the government’s “mini-stimulus.”
Ferrari is recalling 3,000 cars to stop drivers getting trapped in the trunk. The luxury sports car maker realized that if you somehow get stuck in the trunk of its 458 sports car, you can’t get out. The $230,000 car does have a release within the trunk, but it “only allows the lid to be opened just slightly, far enough to prevent suffocation and allow someone to call for help,” according to CNN.
Ukraine withdraws its heavy artillery. President Petro Poroshenko said he would move the country’s large weapons from its conflict-ridden eastern regions because the ceasefire with pro-Russian rebels is mostly holding, and that any continued fighting is being waged by small independent groups. The move is a part of a nine-point deal (paywall) agreed on by both sides to de-escalate the conflict.
No more Burger-King-style tax moves? The US is cracking down on tax inversions (paywall), whereby a US company reduces its effective tax rate by merging with a foreign one and moving its headquarters abroad. New rules from the US Treasury would complicate or disqualify deals like Burger King’s acquisition of Canada’s Tim Hortons last month.
Alibaba could buy Yahoo for free. The newly flush Chinese tech giant would need to pay $7 billion in cash and a block of shares—but once it owns Yahoo, it would get them all back anyway, plus some other stuff, notes Bloomberg’s Matt Levine. Why won’t this happen in real life? Because Yahoo executives are unlikely to admit that their company is essentially worth nothing.
The SEC makes someone very rich. The US financial regulator announced a $30 million reward—double the 2013 record of $14 million—to a tipster who helped it uncover a “difficult-to-detect” fraud. It’s the 14th such award since the SEC launched its program two years ago, and the fourth to someone outside the US.
Xiaomi’s new revenue stream is selling stuffed animals. The Chinese smartphone maker Xiaomi expects to sell some 2 million of its bunny mascots this year. The revenue may be tiny for the fast-growing company, but the branding and customer loyalty opportunities are nothing to shake a carrot at.
Putin’s love of big cats influences a children’s TV show. To mark the 50th anniversary of the popular Russian children’s program “Goodnight Little Ones,” the show’s producer, Alexander Mitroshenkov, decided to add a character. Would it be a wolf? A monkey? A giraffe? A horse? All solid choices, but nope, he went with a tiger. Asked why, Alexander pointed to Putin, and then it all made sense.