Bloomberg News

Few states have the gravitational pull of Texas, where business and politics set trends that ripple across the country. Sign up for our new Texas Edition newsletter to get weekly insights from Julie Fine on the forces shaping the Lone Star State's rise as a global investment hub: https://lnkd.in/g5DZS7NJ Read and share the first issue: https://lnkd.in/gPyq8GZM

It's been such a big summer for Oracle that they accelerated CEO succession. In June, the company planned for a CEO transition in a year or two. On Monday, the day came early, with cloud chief Clay Magouyrk and industries leader Mike Sicilia tapped as co-CEOs. “You want to make a transition like this when things are great,” Safra Catz, the former CEO and now board executive vice chair, said Monday on a call with analysts. In recent weeks, Oracle inked a massive cloud commitment OpenAI, enjoyed its steepest stock rally since 1992, and is finalizing a plan to keep popular video app TikTok as a major cloud customer. Paywall free: https://lnkd.in/eMVBip7p

On today’s Big Take podcast, private equity reporter Allison McNeely on what’s contributing to an existential slowdown that has private equity firms scrambling to find a path forward https://trib.al/QPQwd5Y

A 50-pound printout holds the key to Citadel Securities' $652-billion-a-day trading juggernaut

Looming federal government shutdowns have become almost routine in Washington. With just days until the Oct. 1 deadline, Congress faces another standoff over government funding. Here's what to know.

Saudi investor Prince Alwaleed bin Talal buys 15.2 million Snap shares, backing the company after weak Q2 sales.

The Trump administration canceled grants for street safety measures, pedestrian trails and bike lanes in communities around the country this month, each time offering a simple rationale for yanking back federal aid: the projects aren’t designed for cars. Read more about these projects: bloom.bg/46OB4Ea 📷: Lane Turner/The Boston Globe/Getty Images

Today I'm in Los Angeles covering a first-of-its-kind US labor board hearing about the agency's allegations that Amazon was legally the boss of a group of sub-contracted drivers, and violated their rights when it refused to collectively bargain with them. The proceedings got interesting quickly, with Amazon saying it won't release documents about whether it's indeed a "joint employer," because it considers the government's subpoena requests on the topic a "fishing expedition" the agency is pursuing "for reasons unrelated to the case itself." In an opening statement, an attorney for the National Labor Relations Board's Trump-appointed acting general counsel said Amazon exercised “overwhelming control” over contract drivers it claims aren't its employees: “It controls every minute of the drivers’ day.” Amazon has denied wrongdoing. Here's our story, unpaywalled: https://lnkd.in/g2VurnaF

Compass and Anywhere Real Estate struck a deal to merge, building a company with a roughly $10 billion enterprise value and cementing Compass’s status as the largest residential brokerage in the US.