INTEL CONSIDERS SPIN-OFF

Intel is considering an initial public offering for its programmable chip division within the coming three years. This follows Intel's recent divestment of its Mobileye autonomous driving unit. While the tech giant may explore private investments for this venture, they plan to retain a majority share. This decision aligns with Intel's strategy to manage expenses and capitalize on the growing demand for field programmable gate arrays (FPGAs) - chips recognized for their versatility and energy efficiency compared to conventional processors. Although Intel highlighted in July that this unit had seen three consecutive record quarters, they did not disclose specific sales figures.

LARGEST STRIKE IN USA HISTORY

Over 75,000 employees of Kaiser Permanente are set to strike on Wednesday morning, causing interruptions for one of the largest health care providers in the U.S. and adding to the ongoing labor disturbances that have been seen in various U.S. sectors over the past few months.The strike, lasting three days, could potentially impact services for close to 13 million individuals in several states. While non-critical services like routine doctor appointments may be suspended, essential functions such as hospitals and emergency services will persist, with the organization utilizing a mix of staff reallocations and substitute workers. The strike will involve roles like radiology technicians, pharmacy technicians, dental assistants, optometrists, and many other supporting roles who will be participating in the protest.

GRIT TAKE: This will be the largest strike in the history of healthcare and 13 million people will have interrupted health services. When President Biden took office in 2020, he declared that he would be the most Pro-Union President in history. Fast forward to 2023, and we have seen an unprecedented amount of strikes. In years past, the consumer has been the person that suffers the most from strikes due to the increase of goods and services.

KEVIN MCCARTHY REMOVED

The House of Representatives decided to vacate Speaker Kevin McCarthy from his position as Speaker of The House. The vote stood at 216-210 against McCarthy, with a small amount of conservatives siding with Democrats for his removal. Seven members did not participate in the vote. This marks the first time in U.S. history where a House speaker has been voted out. Kevin McCarthy announced that he would not seek re-election for the Speaker role.

Headlines You Need To Know:

• Moderna combination covid/flu vaccine enters final trial

• Intel’s next big move

• Billionaire buys Paul Allen’s iconic Villa

• Five shot at Morgan State University campus

• Costco limits Gold bars purchases

• Kaiser Permanente workers poised to strike

• Uber will now pick up your packages for you

• Saudi Crown Prince UK visit may be later than expected

• UK scraps major high-speed rail link

Just for fun…

THESE TECH-FOUNDERS STARTED SELLING CEREAL TO RAISE CASH

These tech-founders starting selling cereal to raise cash and turned those profits into an $85 billion dollar business. The founders of Air BnB, Brian Chesky and Joe Gebbia couldn’t afford rent in 2007 because they were trying to launch a failing startup. The Industrial Designers Society of America was hosting a conference in San Francisco and all hotel rooms were booked. The two roommates decided to rent their rooms out so they could afford rent for the month. They bought three air mattress and marketed their idea as “Airbed & Breakfast.” On the first night, they had 3 guests stay with them. The two roommates went full-time on the new startup and added a 3rd founder, but unfortunately they were making no money and struggling to pay their bills. To receive funding, Chesky and his co-founders created special-edition cereals called "Obama O's" and "Cap'n McCains", based on presidential candidates Barack Obama and John McCain. They sold these cereals at the Democratic and Republican convention and raised over $50,000. Y-Combinator was impressed by their cereal venture and invited them to their seed funding program. Today, AirBNb has over 5 million listings and are in over 100,000 cities.

Chart Of The Day

STARTEGIC PETROLEUM RESERVE

Days Left In The Strategic Reserve

The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.