Qualcomm sat out the semiconductor rally. Can a SpaceX partnership change that?

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• Circle reports Q3 revenue up 17% YoY to $875M, driven in part by ARC token sales, net income up 5% YoY to $226M, and says it is cutting 5% of its staff (Yueqi Yang/The Information)

  Financial gains during the third quarter were partially fueled by momentum in ARC token transactions as the company expanded both top and bottom lines. However, management is simultaneously streamlining corporate operations to manage ongoing overhead. This internal restructuring will reduce total headcount even as profitability remains positive.

  1 min read
• Kraft Heinz to divest its North American coffee business in $650 million deal

  The packaged food giant is offloading iconic brands like Maxwell House to One Rock Capital Partners while retaining a 30% noncontrolling stake. This strategic realignment under Chief Executive Steve Cahillane aims to free up roughly $500 million in post-tax cash to alleviate debt burdens. By trimming non-core assets, leadership seeks to redirect capital toward higher-growth operational priorities.

  1 min read
• Once it was a £1 hanger. Now it’s a £15 locker. Why do cloakrooms cost so much on a night out?

  Entertainment operators across the UK are increasingly outsourcing storage to commercial locker firms and third-party businesses to counter declining alcohol sales, heightened staffing expenses, and strict post-Manchester Arena security mandates. This operational transition has driven storage fees up to £15 as venues seek shared revenue streams. The inflated costs are exacerbating broader nighttime affordability issues, pushing some event attendees to abandon their personal belongings in unsecured external spaces.

  4 min read