BREAKING: United Airlines CEO Scott Kirby called for a national wealth and inheritance tax "close to 100% on the ultra-wealthy.”

NEWS: A former gambling helpline director was sentenced to 10 years for stealing $1.4M to fund his own gambling

BREAKING: Blackstone created an AI CIO trained on 14 years of internal deal memos Every investment up for review at Blackstone now comes with two memos: one from the deal team and one from the AI CIO, though the AI doesn't have a vote

"I've also heard you say that you want to find that balance between innovation and regulation. There's nothing to regulate if the industry doesn't thrive" - Nvidia CEO Jensen Huang to German Chancellor Merz Friedrich Merz

JUST IN: Ex-Google CEO Eric Schmidt owns a 1% stake in Anthropic

Introducing SKY-001, the first Engineering World Model. On CAD and BIM tasks, it beats GPT-6 Astra and every frontier model we tested: -> 51-125x faster - > 150-210x cheaper -> Higher IOU than all frontier models SKY-001 lets you dream a physical object before you build it. 18 months of work. Built by the team out of Maluuba's deep learning lab (acq. by @MSRResearch). The first ‘AI General Engineer’ will be the backbone for Autonomous Manufacturing.

JUST IN: The New York Stock Exchange has launched extended-hours options trading for 29 heavily traded ETFs and single stocks.

JUST IN: Morgan Stanley says the U.S. stock sell-off may be nearing its end with CIO Mike Wilson saying investors should get ready to buy the dip.

BREAKING: JPMorgan, Bank of America and Citigroup restricted AI agents from accessing client accounts The moves come after the launch of Meta's Muse AI agent, which fueled concerns that bots will move large sums of idle cash away from bank deposits consumers' behalf to maximize returns, potentially sparking deposit flight

TRENDING: Anthropic has quietly pitched its own AI safety bill to lawmakers The bill would let the government block a model's release or use if it poses a foreseeable, imminent risk of more than $1B in damages, or ​of killing or seriously injuring more than 50 people

NEWS: Quant trading firms are looking to make markets in compute Jump Trading and DRW are investing capital and assembling teams to trade financial contracts tied to computing power, with Jump having recently acqui-hired compute-trading startup Ito Markets Products may include futures, perpetual futures, prediction bets, and OTC deals

NEWS: Evercore named co-presidents for the first time, putting CEO succession in the spotlight Nigel Dawn and Naveen Nataraj will start as co-presidents next year, though John Weinberg agreed to stay on as board chair and CEO for at least three more years

NEWS: Big Tech firms are showing 'deep interest' in mining stakes, per the CEO of Anglo American

REPORT: Global hedge funds got hammered by the AI selloff last week Global fundamental L/S funds lost 2.9% in week to October 15 while Asia-focused stock pickers are down 7% MTD

TRENDING: Chinese stocks have emerged as the biggest losers from the faltering AI trade🇨🇳 The tech-heavy SSE STAR 50 Index is down 40% since July while the hardware-focused ChiNext Index is down 36% since July

TRENDING: Chip stocks fell for an eighth-straight day on Friday for their longest losing streak since 2008

TRENDING: The VIX volatility index rose above 22 on Friday for the first time in four months

TRENDING: The KBW Bank Index is down 13% since its August all-time high after falling for six weeks in its worst losing streak since 2008