T-Mobile, the nation’s second-largest wireless carrier, has now confirmed that the cyberattack we reported earlier this week did indeed expose the personal information of some 48 million people—some of it including social security numbers, driver’s license information, and PINs - NYTimes and WSJ and Bloomberg and Law360 and Mashable and TechCrunch
All the deets and dish from the Fed’s July meeting minutes, including confirmation that the central bank is debating how and when to taper its massive government-backed bond purchasing and move into something resembling more normal monetary policy - NYTimes and WSJ and Bloomberg and MarketWatch
Robinhood, in its first earnings report as a public company, delivered revenue of $565 million last quarter (up over 130% from a year earlier), though the company also noted overall losses of $502 million. The red in was due, in part, to “stock issued as compensation for employees and warrants from an emergency funding round it raised this year” - NYTimes and WSJ and Bloomberg and MarketWatch
Though a FTC antitrust challenge still looms large, genetic-sequencing company Illumina announced on Wednesday that it had completed its planned $7.1 billion acquisition of Grain Inc., a company it founded and later spun off in 2017 that focuses on liquid biopsy tests - WSJ
As the worker shortages in the ongoing pandemic recovery has (temporarily) shifted the labor market in employees’ favor, some are using the leverage (and even lockdown-related layoffs) to focus on the pursuit of “a career path, not a dead-end job.” While much of this Times piece is anecdotal, the trend does help explain the mixed results in recent unemployment and jobs reports - NYTimes
The Fed’s reverse repo facility usage hit another record high this week, with 82 participants placing an “unprecedented total of $1.116 trillion” at the facility “amid an overabundance of U.S. dollars” - Bloomberg and MarketWatch
More on the SEC’s novel “shadow trading” suit against a former biopharmaceutical exec. At issue: insiders using private information to make trades in economically linked firms in an effort to “facilitate profitable trading in those firms” – Law360
Despite lagging retail sales elsewhere in the economy, Target posted strong Q2 numbers this week, with more in-store traffic adding to already solid online growth for the Minneapolis-based retailer - WSJ
Facing major backlash from the Hill and consumers alike, Wells Fargo is scrapping plans to shut down personal lines of credit. One key objection was the effect the move could have had on customers’ credit scores - Bloomberg
This loss is tough to explain if you’re not already a fan of British panel shows or the “8 out of 10 Cats Does Countdown” series. If you are, you’ll feel it deeply. If not, welcome to a rabbit hole that will consume the rest of your day. Either way, we’re remembering Sean Lock with some of his greatest hits after his untimely passing this week - Channel4
Stay safe, and get vaxxed,
MDR
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