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Good afternoon. Here's what you should know today, Oct. 29: | |
- The UAW continues to keep automakers off balance
- What a fallen crypto tycoon's life on the lam looks like
- Build yourself a walk-away fund
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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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 | | Israel has intensified its airstrikes on Gaza. PHOTO: MOHAMMED FAYQ ABU MOSTAFA/REUTERS | | |
1. Israeli forces expanded a foray into northern Gaza, while thousands of Palestinians raided food warehouses. | |
| Israeli soldiers clashed with fighters in Gaza as Israel's ground operation expanded overnight. Meanwhile, thousands broke into United Nations food warehouses in central and southern Gaza this weekend, taking wheat flour and other basic items (🔐read for free) like hygiene supplies. Since Israel largely cut off food, water and electricity for Gaza's 2 million residents following Hamas's Oct. 7 attacks, only a fraction of the aid that is needed has entered the enclave, according to the U.N. After a blackout that began Friday, internet and cellphone services gradually began returning to Gaza on Sunday morning. | |
| Americans Stuck in Gaza. 'Are We U.S. Citizens or Not?' (Read) 🎥 Netanyahu Announces Second Phase of Israeli Operations in Gaza (Watch) Follow live updates here. | |
2. The Fed is debating whether its old model still applies. | |
| The economy is doing two things that central bankers don't think it can sustain much longer: revving up activity and at the same time slowing inflation. It has led the Federal Reserve to question how closely it should follow its traditional models of the economy. The debate is unlikely to affect the outcome of its meeting this week, when the Fed is expected to hold interest rates steady to provide more time to see the effects of their rapid increases over the past two years. But it could affect what happens next, Nick Timiraos writes. In what will also be another busy earnings week, all eyes will be on Apple on Thursday for clues about the health of the tech sector. | |
| Five Ways Americans Keep Proving Economists Wrong (Read) 🎧 Looking Ahead to This Week's Fed Meeting and the Future of Crypto (Listen) | |
3. UAW has expanded its strike with GM after reaching a tentative deal with Stellantis. | |
| In a surprise move, the United Auto Workers called a fresh strike at a General Motors factory in Tennessee on Saturday evening, just as the union confirmed that it reached a tentative agreement with Chrysler parent Stellantis on a new labor contract. The Stellantis deal follows one struck a few days ago at Ford Motor and moves the union one step closer to ending a historic strike that has dinged Detroit automakers and put more than 45,000 workers on the picket lines for six weeks. | |
4. Read about the hunt for crypto's most famous fugitive. | |
| After a $40 billion cryptocurrency crash that prompted investigations by U.S. and South Korean authorities, failed crypto tycoon Do Kwon vanished from his home in a Singapore luxury high-rise. He hopscotched across Asia and Europe, lying low in the Balkans for months before finally being arrested in Montenegro. Even after his capture, he continued to stir up drama. | |
5. Elon Musk's outlook on our future is turning dark. | |
| In many ways, Elon Musk is the world's biggest doomsday prepper. The billionaire entrepreneur has made his fortune and reputation chasing a future bettered by technology. The flip side of his optimism is a fixation on worst-case scenarios he is determined to avoid. And these days, Musk sounds worried. | |
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🗨 Follow coverage of detained WSJ reporter Evan Gershkovich | |
| The WSJ's Evan Gershkovich is being wrongfully detained in Russia after he was arrested while on a reporting trip and accused of espionage—a charge the Journal and the U.S. government vehemently deny. Follow the latest coverage, sign up for an email alert, and learn how you can use social media to support Evan. | |
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