Fed's Hammack Urges Rate Hikes to Tame Inflation | JQJO

Meta announced it will issue a new Class C share class, a one‑for‑one stock dividend, to all shareholders. The move, disclosed with the company’s third‑quarter earnings, aims to raise capital without diluting Mark Zuckerberg’s voting power and to enable him to meet pledges to the Chan Zuckerberg Initiative and potentially fund a California wealth tax. Zuckerberg currently holds about 60.6 % of voting control through Class B shares, which carry ten votes each, while his equity stake is roughly 13.4 %. The new Class C shares will not affect his voting rights. Meta’s dual‑class structure, common among tech firms, allows founders to maintain control while raising outside capital. The decision follows months of negotiation with board members, including DoorDash CEO Tony Xu, Ambassador Robert Kimmitt, and former Microsoft executive Charles Songhurst. Meta’s SEC filings show the company repurchased $26.3 billion in Class A stock in 2025 but has not bought back shares in the past four years. The new share class is intended to support Meta’s AI expansion while safeguarding Zuckerberg’s majority control.

A federal judge ordered the Department of Homeland Security to stop field investigations targeting noncitizen voters in California, Connecticut, Georgia, Missouri, Nevada, New York, Pennsylvania, Washington, and Wisconsin. The judge cited faulty data that includes U.S. citizens and warned that investigations could wrongly target citizens. The order will take effect Friday afternoon, giving the Trump administration time to appeal, and will remain in force until after the midterm elections. The ruling limits DHS actions such as interviews and door‑knocking when a target may be a citizen.

John Goodman said he once weighed nearly 400 pounds after giving up alcohol, a weight he attributed to “eating alcoholically.” The actor, who began his weight‑loss journey in 2007 at age 55, admitted that he had repeatedly lost and regained weight before deciding to stay sober. Goodman, now 74, explained that he underwent stomach surgery to address the weight gain, but the procedure caused other health issues such as anemia and a loss of subcutaneous fat. He has since lost 200 pounds and recently appeared at the Los Angeles premiere of “Digger,” where he was noted for his slimmer figure.

Prosecutors in New Mexico filed a civil lawsuit against Jeffrey Epstein’s longtime lawyer Darren Indyke and accountant Richard Kahn, accusing them of profiting from his sex‑trafficking ring. The lawsuit, filed under the federal Trafficking Victims Protection Act and New Mexico Racketeering Act, claims the men concealed abuse at Epstein’s Zorro Ranch near Santa Fe. Indyke and Kahn deny any knowledge of the crimes and their attorney rejected the claims as "categorically false." The suit is separate from the state’s criminal probe, which was re‑launched in February. New Mexico Attorney General Raúl Torrez argues the executors are blocking victims’ efforts to recover Epstein’s estimated $635 million estate.

Elon Musk confirmed that SpaceX and Tesla are exploring a merger. After SpaceX’s earnings call on October twenty, 2026, Musk said both companies have independent director committees studying the possibility. He added that he cannot participate in the discussions because he is a conflicted party, but he believes the merger would be a good idea. The discussion follows SpaceX’s strong Q3 results, with sales of fourteen point six billion dollars and net income of four point four billion dollars, driven largely by AI compute contracts and Starlink. Tesla’s Q3 revenue was about twenty eight billion dollars, with net income falling forty‑three percent to seven hundred eighty‑seven million dollars, as the company expands robotaxi operations and AI initiatives.

The legendary studio behind Mass Effect, Dragon Age, Neverwinter Nights and Star Wars: Knights of the Old Republic announced that it is closing and that early development on the next Mass Effect game is ending. The announcement came minutes after Bloomberg reported 400 job cuts at Electronic Arts, including 50 at BioWare. EA said it was “making deliberate choices to align talent and investments where we see the greatest opportunities for players and long‑term growth.” BioWare, founded in 1995 and acquired by EA in 2007, has faced a series of high‑profile departures and mixed‑review titles in recent years. The studio’s closure marks the end of more than three decades of shared adventures.