Israel’s troops in Gaza: Israeli forces were today battling Hamas in the vicinity of Gaza City. The Israelis said they have attacked various Hamas tunnels but did not report any additional hostage rescues like the one of a female Israeli soldier reported yesterday. Houthi rebels in Yemen said they fired missiles at Israel and flew drones into Israeli airspace. The U.S. Navy shot down three of the Houthi missiles over the Red Sea. The U.N. Agency for Palestine Refugees says that 64 of its staff members have been killed in the Israel-Hamas fighting so far. The U.N.’s agency says that it is housing almost 700,000 people in Gaza who have fled their homes.
Wages in U.S. go up: The Department of Labor reported this morning that wages and benefits for civilian workers in the U.S. increased by 4.3% for the 12-month period ending in September. Wages and salaries went up 4.6% while the cost of benefits went up 3.9%. Both increases were lower than the increases during the 12 months that ended in September 2022. Some economists believe the data will help convince the Federal Reserve not to raise interest rates when it meets tomorrow.
JetBlue case goes to court: The Justice Department’s effort to halt the purchase of Spirit Airlines by JetBlue for $3.8 billion moved into federal court in Boston today. The government contends that the loss of competition from allowing the deal to go ahead will hurt consumers. JetBlue argues that it needs to acquire Spirit to help it compete against bigger airlines. The government previously blocked JetBlue from making a business arrangement with American Airlines to share operations and revenues on certain routes.
Trump disqualification case: In Denver, a hearing continues into whether Donald Trump should be kept off the ballot should he receive the Republican nomination for president next year. Lawyers for six voters are presenting arguments that because Trump was involved in promoting an insurrection he is barred by the U.S. Constitution’s 14th Amendment from holding a public office. A similar case is due to be heard beginning Thursday by the Minnesota Supreme Court.
Electrical grid investment: The U.S. Department of Energy has announced that it will invest $1.3 billion in three projects to build high-power electrical transmission lines. It says the projects are needed to strengthen the U.S. electric grid. The transmission lines are to be built in Nevada, Utah, Arizona, New Mexico, New Hampshire and Vermont. A Department of Energy study shows that by 2035 the U.S. needs to double the electric transmission capability within regions and increase by five times the ability of the transmission system to carry electricity between various regions of the U.S.
Musk’s loss: The New York Times reports that an internal memo at X, formerly known as Twitter, reveals that the company is worth $19 billion, substantially less than the $44 billion paid by Elon Musk when he purchased the company. According to Forbes magazine, even with the drop in X’s value, Musk is worth $214.8 billion making him the world’s wealthiest person. Most of Musk’s wealth is because of the value of his stock in Tesla and SpaceX.
