Good morning, Quartz readers!
HERE’S WHAT YOU NEED TO KNOW
Boeing is reacting to its machinist strike with furloughs. The company is spinning the move as a cash-saving measure.
A federal judge is forcing Donald Trump to share. He has to set aside more Trump Media stock for the people who were game to run its pre-IPO SPAC shell.
Stellantis might be facing its second strike threat in less than a year. The company is in a so-far verbal standoff with employees repped by the United Auto Workers.
Tesla is granting General Motors customers access to its chargers. Whether the deal comes with free adapters is yet to be determined.
Frontier Airlines flight attendants issued a work stoppage warning to their employer. The workers are incensed that union contract negotiations are taking so long.
The Fed cut is finally here
“If” finally became “when” as the Federal Reserve affirmed expectations that it would cut interest rates this week for the first time since the COVID-19 pandemic began. The biggest question for investors this week was instead: “How much?”
Whether the key federal funds rate would dip by 25 basis points or 50 was a point of tension. The central bank opted for the latter.
Quartz’s Rocio Fabbro breaks down the momentous decision and how it will affect everything from bank profits to credit card delinquency rates.
Elon Musk said Sean “Diddy” Combs is “a good friend”
Before he began his fight against federal sex trafficking and racketeering charges, the entrepreneur formerly known as Puff Daddy helped Elon Musk assuage Twitter investors after the Tesla CEO bought the social media platform.
The revelation is one of many in a new book by The New York Times journalists Ryan Mac and Kate Conger about Musk’s takeover of the company now called X, Character Limit: How Elon Musk Destroyed Twitter.
Quartz’s William Gavin digs up some of the biggest found facts from their investigation, including the near-involvement of one Sam Bankman-Fried.
MORE FROM QUARTZ
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✈️ Alaska Airlines and Hawaiian Airlines have officially merged
🎥 Hollywood studio Lionsgate struck a deal to feed its movies to an AI firm’s model
🧑💻 Four in five American CEOs say remote work-from-home’s days are numbered
🦈 The latest Shark Tank shark speaks about entrepreneurship and sharking
💼 Amazon and 5 other major companies that have ditched remote work
SURPRISING DISCOVERIES
Taylor Swift fans are rowdier than Real Madrid’s. The soccer club’s stadium is canceling all concerts for the rest of the year to figure out its noise pollution problem.
The Biden administration sure loves ferries. It’s spending $300 million on modernizing them throughout the country.
More like la Maison Internationale Des Pancakes. The breakfast chain IHOP is breaking into the crepes business.
Nike found out what’s cooler than one billion dollars. Unfortunately, the answer is not fifty billion dollars.
The Woj bomb will soon be long gone. High-frequency NBA deal whisperer Adrian Wojnarowski is hanging up his Twitter-cum-X fingers to go run a college basketball team.
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