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Other Developments
A curated list of other prominent stories from this day.
8:09 PMPYMNTS
Apollo Scaling Back Services at Invoice Finance Company Eliant
Summary
Apollo Global Management is winding down parts of Eliant Trade Finance, including products focused on mid-market accounts receivable and supply-chain finance. The retrenchment follows a difficult year for the inventory-financing market.
Apollo is reducing its exposure to a once-expanding corner of private credit rather than continuing
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Why it matters
A pullback by a major private-capital owner could make short-term financing harder to secure for mid-market businesses and suppliers.
The wages of American workers are under pressure. AI's potential role is drawing more attention
Summary
US wage growth has slowed and is struggling to keep pace with inflation, prompting greater scrutiny of artificial intelligence’s potential effect on workers. Evidence linking AI to the wage pressure remains incomplete.
Slower real wage growth raises the stakes of the AI debate, but current data do
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Why it matters
The issue is shifting from whether AI changes jobs to whether its economic gains reach workers through higher wages.
Miami is the luxury capital for the rich fleeing New York and LA—now a $100M office has infrared saunas, a stem cell clinic, and a Vegas-style valet
Summary
Robert Rivani invested $100 million in a Miami Beach office redevelopment despite the broader collapse in office demand. He says the property was 90% leased before opening, offering luxury amenities designed to attract wealthy tenants and businesses relocating from New York and Los Angeles.
The project suggests that Miami's office market is splitting from the national one, with demand
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Why it matters
Office demand is not recovering evenly, and capital is chasing high-income tenants instead of rebuilding the broader commercial market.
Amazon workers on food stamps have tripled despite its record revenue—and it’s just the latest evidence of the new economy of shrinking labor shares
Summary
The number of Amazon workers receiving food assistance has tripled even as the company posts record revenue. The trend points to employees working substantial hours while still struggling to cover basic expenses.
The widening gap between Amazon's financial growth and workers' reliance on public assistance shows how
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Why it matters
Amazon's labor model illustrates how headline corporate growth can coexist with worsening economic security for workers.
Larry Ellison cancels plan to sell Oracle stock worth up to $7.5 billion
Summary
Larry Ellison has abandoned a plan to sell as many as 50 million Oracle shares, and none were sold under the arrangement. The decision follows stronger-than-expected quarterly results, even as Oracle's stock remains pressured by concerns over rising capital spending and weak near-term cash flow.
The immediate shift removes a potential source of selling pressure but does not resolve investors'
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Why it matters
Oracle avoids an insider-sale overhang, while investors still face the harder question of when its spending will translate into stronger cash generation.