Good morning readers. The power of positivity is more than just a feel-good mantra. It's the cream in the coffee of success. Research highlights that a sunny disposition might just be the secret ingredient to spotting those golden opportunities often credited to mere happenstance. Forget the relentless grind; studies suggest that a blend of average talent and fortuitous luck can create a trajectory of success. It’s about making our own luck. So, let's toast to the unexpected nature of life and to the possibility that sometimes, the stars might align just right for us.

Cheers to the unexpected turns that lead to extraordinary places.

Let’s jump into today’s storylines.

In today’s digest:

• United they stand: the Bankman-Frieds' legal front for Sam

• Headline Hustle: The Marvel’s disappoints at the box office, Mike Johnson unveils plan to avoid government shutdown, Peter Nygard is convicted of sexual assault

• How cookie loyalists are exposing the skinny on snacks

• The Week Ahead: What to Expect

• Pulse Points: What’s Trending

CRYPTO

Bankman-Fried’s parents stand by their Sam—and face their own legal problems

In the high-stakes courtroom of public opinion and legal battles, the saga of Sam Bankman-Fried, the fallen crypto titan behind FTX, unfolds. Convicted of criminal fraud with a potential sentence that reads more like a life sentence—110 years—the plot thickens with the unwavering defense mounted by his parents, both legal scholars, who stand steadfast in the storm, preparing for an appeal with the conviction of their son's innocence.

A family affair

The family dynamic is intriguing, with lines between home and business indistinguishably blurred. Bankman-Fried's parents weren't just his cheerleaders; they were intricately woven into the fabric of FTX, their roles stretching from emotional support to professional counsel. Now, they find themselves entangled in a legal web, with FTX's current management demanding a return of funds they claim were misallocated, placing both the family's finances and their reputations under intense scrutiny.

Big picture: Amidst this turmoil, the rhythm of daily life beats on for the beleaguered pair. They juggle their professional duties and social engagements, an attempt to anchor themselves as waves of legal and emotional challenges loom on the horizon. But the future is a haze of uncertainty, with legal experts casting doubt over the appeal's success—a sobering reminder of the uphill battle they face. This tale is more than a chronicle of a legal struggle; it's a narrative of parental allegiance in the face of overwhelming adversity, and the enduring bond that not even a high-profile scandal can sever.

Headline Hustle

📽️ Marvel’s, The Marvel’s, disappoints at the box office. Disney's latest swing at superhero glory, "The Marvels," barely made a dent at the box office, hauling in a meager $47 million—a stark contrast to the behemoths of the Marvel Cinematic Universe (MCU) past. It's a clear sign that quantity may have trumped quality, a concern echoed by CEO Bob Iger himself. With an overflowing slate and audiences needing a primer just to grasp the storylines, Disney's strategy seems to have backfired. The company, known for its storytelling prowess, now plans to recalibrate, aiming for fewer, finer flicks—a move that may just save the day.

🇺🇸 House Speaker Mike Johnson unveils plan to avoid government shutdown. Mike Johnson is steering the ship in choppy waters, proposing a two-step stopgap to keep the U.S. government's lights on and avoid a shutdown. His plan sidesteps spending cuts and contentious border policies, aiming to buy time for a more thorough budgeting process. This fiscal Band-Aid, which leaves defense funds for later discussion, is causing a stir among Republicans and Democrats alike, with some calling it overly complex. As the clock ticks down, the unity of House Republicans is put to the test, while the White House brands the strategy as a path to chaos. Johnson's political tightrope walk continues, as he seeks to maintain conservative support without stepping on any legislative landmines.

🇨🇦 Peter Nygard convicted of four counts of sexual assault. In a courtroom drama that's more sordid than stylish, Peter Nygard, the titan of Canadian fashion, was convicted on four counts of sexual assault while acquitted on another assault charge and forcible confinement. This verdict arrives after a marathon six-week trial packed with harrowing testimonies from accusers shrouded in anonymity by the court. Nygard's legal battles are far from over, with upcoming trials in Manitoba and Quebec, and a U.S. indictment waiting in the wings for crimes as grave as sex trafficking. It’s a stark downfall for the 82-year-old, whose fashion empire once boasted thousands of stores globally, now left in the ruins of bankruptcy and criminal charges. Sentencing looms on the horizon, as Nygard's defense mulls over an appeal.

BUSINESS

In search of lost cream: the battle over Oreo’s missing middle

Like those infamous '90s haircut disasters we'd rather forget, Oreo lovers are convinced their go-to snack has gone under the knife—or rather, the spatula. Mondelez, the guardian of the Oreo empire, stands accused of cream-skimming…literally. Fans are crying foul over what they see as a skimpy filling situation, tagging it as a classic case of 'shrinkflation.' But diehards and cookie crusaders aren’t having any of it, airing their grievances on Reddit forums and the twitter sphere, crying foul over what they see as a cookie conspiracy. With every tweet and forum post, they're slowly twisting open the conversation on corporate cost-cutting, leaving some to jump ship to the likes of Hydrox, Oreo's long-lost cousin.

Times are tough

Mondelez CEO Dirk Van de Put is standing his ground, denying any wrongdoing in the fight against inflation. But let's not forget, Oreos aren’t strangers to change. Over their 111-year run, they've ditched lard and waved goodbye to trans fats – so evolution is part of their DNA. Yet, when industry experts weigh in, they hint at something deeper: a general distrust in big corporations, especially when the wallet feels lighter. Remember the uproar when Toblerone went on a diet? It seems like history is repeating itself with our beloved Oreos.

Looking ahead…the proof might just be in the pudding—or in this case, the lack thereof. Despite Mondelez's attempts to sweeten the deal with coupons and assurances, the sentiment is clear: there's a craving for the past and a side-eye towards corporate tactics in tough economic times. This isn't just about cookies; it's a bite-sized reflection of the complex dance between consumer emotions and brand integrity in an era of financial squeeze.

WEEK AHEAD

What to expect

U.S. Inflation Data: Investors anticipate the U.S. consumer price data for October to gauge the Federal Reserve's success in tackling high inflation. A monthly rise of 0.1% is expected, following September's 0.4% increase.

Fed Speakers: Throughout the week, several Federal Reserve officials will speak, including key figures like John Williams and Austan Goolsbee, providing insights into the possibility of further monetary policy tightening before the next Fed meeting in December. Fed Chair Jerome Powell has indicated that the current interest rates might not be sufficient to curb inflation.

Retail Earnings: Major retailers like Home Depot, Target, Walmart, and Macy’s are scheduled to report quarterly earnings, which will reflect the state of consumer spending. Target is dealing with increased costs and theft, while Walmart has recently enjoyed rising shares due to robust financial performance.

What else is happening…

• Diplomatic Focus for World Leaders: Joe Biden and Xi Jinping to meet on the sidelines of the Asia-Pacific Economic Cooperation forum in San Francisco

• Middle East Conflicts: The Israel-Gaza conflict is ongoing. Palestine Independence Day on Wednesday could be a potential flashpoint.

SNIPPETS

Pulse Points

• Pope Francis has dismissed a Texas bishop following a Vatican-ordered investigation.

• Google is reportedly in discussions to invest hundreds of millions of dollars in Character.AI, an AI chatbot startup, to support model training and meet increasing user demand.

• The risk of a volcanic eruption in Iceland is increasing, prompting a state of emergency declaration and the evacuation of the town of Grindavík in the wake of a series of earthquakes.

• Key takeaways from the Epic-Google antitrust case this week.

• Patients are lining up for early cancer detection full-body MRI scans priced at $2,500.

• Reuters uncovered over 600 previously unreported workplace injuries at Elon Musk's SpaceX, including crushed limbs, amputations, electrocutions, head and eye wounds, and one fatality, with employees attributing these incidents to the rapid pace of space colonization.

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