Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran has increased the pace of attacks on tankers in the Strait of Hormuz in recent days, with UK Maritime Trade Operations reporting nine attacks this month. The impact of the latest escalation on Hormuz shipments and seaborne gas flows is uncertain, according to maritime security officials and shipping executives. The flow of oil through the Strait of Hormuz has steadily picked up since the start of summer, with some Wall Street banks saying shipments are approaching prewar levels.
2) Elon Musk’s SpaceX is in talks with banks and investors to raise $40 billion to buy chips from Nvidia. SpaceX’s fundraising discussions are in an early stage and could end without a deal being completed, with Pacific Investment Management Co. and Apollo Global Management involved. The fundraising is for SpaceX's AI buildout, with the company seeking to raise about $10 billion in bank loans and $30 billion in investment-grade debt to pay for the chips.
3) Less than four weeks until the midterm election, Maine Republican Senator Susan Collins had her first debate last night with Democratic former state senate president Troy Jackson. Both Collins and Jackson got 47% support on that question in a New York Times Siena College poll. The same survey gave Collins a three point edge over Jackson among likely voters. The election is seen as crucial to either party's hopes of attaining a Senate majority, with Democrats needing a net gain of four seats and Collins having repeatedly defied expectations and outperformed polls in her nearly 30 years in the Senate.
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