Markets Rush To Safety, French Military Protest Deployment, Brexit-Sized Confidence Slump

SpaceX's hiring process is characterized by a demanding culture heavily influenced by CEO Elon Musk. Candidates are expected to showcase their past achievements and demonstrate hands-on experience, as recruiters prioritize raw intelligence over advanced degrees. A commitment to the company's mission and loyalty to Musk are essential for prospective employees, who are also informed that the job may require long hours and weekend work. In return for their dedication, employees have access to equity options, including the opportunity to purchase shares or receive restricted stock units.

In the financial markets, a significant sell-off in AI-linked stocks has prompted investors to flock to the safety of U.S. Treasuries, resulting in the best performance for these bonds in over two years. As concerns grow regarding the profitability of substantial investments in AI, experts highlight the critical question of whether companies can effectively monetize their spending in this area. Meanwhile, in France, rising yields on government bonds reflect increasing investor anxiety over the country's fiscal stability amid ongoing protests and unrest, with the spread between French and German bonds reaching its widest margin since 2011.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) The artificial intelligence trade stayed on the back foot as investors rotated out of one of the year’s hottest themes and sought safety in bonds. Adding to the pressure, crude oil extended its gains. (2) French authorities are bracing for a new round of protests Saturday, rolling out the military to back up police in a bid to prevent a repeat of last weekend’s riots and reassure markets unnerved by the violence. (3) There's a growing divide over how much further the European Central Bank will raise rates, as oil remains above $110 a barrel. (4) Banks, airlines and governments across Europe, Asia and the Americas are pulling down websites to avoid being hacked. Artificial intelligence models helped to find vulnerabilities in a commonly used programming language called PHP. (5) UK consumer sentiment plunged in October as soaring fuel prices brought home the scale of the cost-of-living hit from the Middle East conflict. (6) Britons looking for a flavor of the upcoming first budget of Andy Burnham’s UK government need look no further than the descriptors emanating from Chancellor of the Exchequer John Healey and his officials at the Treasury: Do no harm. Steady as she goes. Focused. (7) President Donald Trump spoke to SpaceX Chief Executive Officer Elon Musk and asked him to lift restrictions on his company’s Starlink satellite system, the Wall Street Journal reported Thursday. (8) With a fresh infusion of cash to his super political action committee in the first two weeks of October, Elon Musk has now given more than $445 million in the current election cycle and become one of the biggest-ever contributors to such groups.

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