- Reuters / Susana Vera
Here is what you need to know.
Tropical Storm Nate is threatening to hit the Gulf Coast as a hurricane this weekend. The storm, which has already been blamed for 22 deaths across Nicaragua and Costa Rica, gained some strength Thursday night as it moved over the Gulf of Honduras.
Apple gave Uber’s app ‘unprecedented’ access to a secret backdoor that could record iPhone screens. The existence of Uber’s access to special iPhone functions is not disclosed in any consumer-facing information included with the company’s app, according to a Business Insider report.
The House passed a budget resolution Thursday that served as the first step toward Republicans passing a massive tax plan. The resolution, which passed by a vote of 219 to 206, included instructions for what is known as budget reconciliation.
The British pound is on track for its worst week since October 2016 thanks to Tory infighting. Analysts are blaming the poor performance on the Conservative Party Conference, held at the start of the week, which inspired negative headlines about the ruling party and has sparked a plot to oust Prime Minister Theresa May.
Netflix’s stock is sitting at an all-time high after the company hiked prices for US subscribers. It raised the price of its most popular “standard plan” service to $10.99 a month from $9.99.
Costco steps up grocery battle with new delivery services. Reuters reports that the membership-based chain announced two new services to fend off mounting competition from Amazon and Walmart.
Summit Materials made a $3.8 billion bid for Ash Grove Cement. Reuters reports that Summit is hoping to trump an earlier takeover bid from the Irish building-materials firm CRH Plc.
Harvey Weinstein plans to sue The New York Times for a reported $50 million over its bombshell sexual-harassment exposé. The film producer and studio executive is taking a leave of absence from The Weinstein Company following the allegations made against him.
Stock markets around the world are mixed. Hong Kong’s Hang Seng (+0.28%) rose in Asia, and the FTSE 100 (+0.13%) led mixed results in Europe, which also saw the Euro Stoxx 50 slide (-0.18%). The S&P 500 is set to open down less than 0.1% near 2,549.
US economic data flows. Nonfarm payrolls and the monthly unemployment rate will be released at 8:30 a.m. ET before wholesale inventories are announced at 10 a.m. The US 10-year yield is up, sitting near 2.35%.