Nvidia is investing $5 billion in Intel, buying common stock at $23.28 a share to jointly develop data center and PC products.

For much of the past few years, wages for the bottom third of U.S. earners grew at a faster rate than for the top third. But since the start of the year, top earners have pulled far ahead. In August, annual wage and salary growth fell to 0.9% for the bottom third, the smallest gain since 2016, while the top third saw growth of 3.6% year over year, the most since November 2021.

Gold’s value has ballooned by 39% this year, putting it on track for a greater annual price jump than during the depths of the Covid-19 pandemic or 2007-09 recession. Futures for the precious metal haven’t surged so much in a year since 1979.

Inflation-adjusted median household income was $83,730 in 2024, not statistically different from the 2023.

PNC Financial Services Group will buy FirstBank Holding Co for $4.1 billion to expand its presence in the West.

Fed Chair Jerome Powell had previously signaled the central bank was on track to cut rates if data suggested that the labor market was slowing. Friday’s report provided a clear sign that payroll growth had downshifted meaningfully since the beginning of the year.

The spate of corporate breakups has spurred a comeback in deal activity. Deal volumes are up 23% in the U.S. year over year. But not all companies are shying away from megamergers: The year’s biggest deal so far was Union Pacific’s $71.5 billion acquisition of fellow railroad Norfolk Southern.

Blackstone closed on $5.5 billion for its latest infrastructure secondaries fund, Strategic Partners Infrastructure IV L.P., and its related committed program vehicles. SP Infrastructure IV is the world’s largest dedicated infrastructure secondaries fund raised to-date.

Margin borrowing is at an all-time high as of July, and topped $1 trillion for the first time ever as of June.

The Forbes 400 list of the wealthiest Americans paid 23.8% of their economic income in taxes from 2018 to 2020. Of those taxes, 37% come through corporate taxes, with the bulk of the rest from individual income and payroll taxes.