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Good afternoon. Here's what you should know today, Sept. 3: | |
- The market's verdict on Arm comes due
- Strong hiring and spending are keeping recession at bay—for now
- Keeping up with the NFL could become tricky for some cable subscribers
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| Thanks for reading What's News! Look for the 🔐 to enjoy a free article on us—and share the link with a friend (or forward the whole newsletter!). | |
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 | | Donald Trump at a rally earlier this summer in Erie, Pa. PHOTO: Jeff Swensen/Getty Images | | |
1. Donald Trump has expanded his dominating lead for the Republican presidential nomination. | |
| The former president is the top choice of 59% of GOP primary voters, according to a new WSJ poll, having widened his lead by 11 percentage points since April, when the Journal tested a slightly different field of potential and declared candidates. Meanwhile, Florida Gov. Ron DeSantis, his top rival, is barely ahead of the rest of the field at 13% support. According to the survey, GOP primary voters overwhelmingly see Trump's four criminal prosecutions as lacking merit and about half say the indictments fuel their support for him (🔐read for free). In a hypothetical rematch of the 2020 election, Trump had 40% support among voters overall, compared with 39% for President Biden. | |
| The Most Important Elections of 2023 Will Test Purple-State Voters (Read) Were the People in Trump's Ear After the 2020 Election Criminals or Just Lawyers? (Read) | |
2. Arm's blockbuster listing will test the IPO market's recent revival. | |
| The British chip designer plans to start meeting with prospective investors as early as Tuesday ahead of its stock-market debut on the Nasdaq exchange the following week, people familiar with the matter said. The company is eyeing a target valuation between $50 billion and $55 billion for what is shaping up to be the year's largest initial public offering. Still, that range is well below the $64 billion value implied by SoftBank's recent deal to buy the remaining 25% stake in Arm. | |
| The Disappointing Bet That Could Turn Into the Biggest IPO of the Year (Read) Instacart, Klaviyo Prep for Their IPOs—With Caution (Read) | |
3. Ukraine's counteroffensive strives to build momentum. | |
| Kyiv's forces, having penetrated Russia's main defensive line in the southeast last week, still must overcome vast, multilayered fortifications including trenches, anti-tank ditches and concrete barriers called dragon's teeth. The Journal combined its reporting with analysis from Finnish volunteers to visualize the obstacles ahead. Farther east, Ukrainian units have been slowly pressing forward. The West has questioned this decision to attack on multiple axes, but commanders in the area say they are having some success. On the diplomatic front, Russian President Vladimir Putin is set to meet with Turkish President Recep Tayyip Erdogan tomorrow. The West has been looking to the Turkish leader to help negotiate a resumption of a deal allowing Ukrainian grain to be exported globally. | |
4. With the NFL season about to start, Charter subscribers are losing access. | |
| Sports fans who are Charter Communications subscribers are caught in a fight between the cable giant and Disney, parent company of ESPN, ABC and several other networks. Disney-owned networks on Thursday went dark for customers of Charter's Spectrum cable systems, which has nearly 15 million video subscribers across the country. As a result, Charter subscribers are losing access to ESPN right as the National Football League kicks off this week and with the U.S. Open tennis tournament under way. | |
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| What's News will be off Monday in observance of Labor Day. | |
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