"Shocking Levels Of Distress": CMBS Delinquencies Unexpectedly Soar To COVID Highs

July Jobs Shock: US Lost 23K Workers, Below Lowest Estimate, As Unemp Rate Drops To 4.1% Ahead of today's jobs report, in our payrolls preview we warned that "July Has Emerged As A Very Poor Month For Jobs" and boy were we right: moments ago the BLS reported that in July, the US labor force shrank by a whopping 23K, sharply lower from a downward revised 20K in June (from 57K), and the worst print since the negative 156K in February. As noted above, the -23K print was below all estimates... ......

Yum Unloads Pizza Hut Chain As Private Equity Takes On Turnaround Challenge Yum! Brands agreed to sell its iconic Pizza Hut chain for $2.7 billion following a strategic review, separating the struggling pizza brand from its broader restaurant portfolio, which includes KFC, Taco Bell, and The Habit Burger Grill. LongRange Capital will acquire Pizza Hut's business outside China for $1.5 billion, while Yum China will buy the China business for $1.2 billion. Both transactions are expected to close in the third quarter. The Stamford, Connecticut-based private equity firm typically invests in...

Elon Musk Makes A Move On The Banks Authored by Jeffrey A. Tucker via The Epoch Times, When Elon Musk took over Twitter, fired four out of five employees, and rebranded it X (just because he thought it sounded cool), the talking heads predicted doom for the company. The opposite happened. It is now one of the most popular sources of news in the world, and a major delivery system for what social media is supposed to be. He always had more in mind. He explained at the outset that he wanted...