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US job openings rise as quits hit highest level since March · Global Advisors Daily Business News

• 0:10
  Welcome to Global Advisors Daily Business News. I'm Sam. Today is Wednesday, the fourth of November 2026. Let's explore today's business headlines and what they mean for leaders. Please hit like and subscribe for daily updates if you find this useful.
• 0:29
  The latest data from the Bureau of Labor Statistics shows a solid September for the United States labor market. Job openings rose by 333,000, while layoffs declined and hiring increased. This surge in vacancies pushed the total to a four-month high, suggesting employers are still actively looking for workers despite broader economic pressures.
• 0:49
  What makes this shift particularly interesting is the movement among current employees. The number of people quitting their jobs spiked to 3.36 million, the highest level since March 2025. This indicates that workers are feeling confident enough to leave their positions, signaling increased mobility in the workforce.
• 1:07
  The balance between supply and demand also tightened, with the rate of job openings climbing to 4.5 percent. This left more openings than there were unemployed workers. Heather Long, chief economist at Navy Federal Credit Union, notes that despite inflation headwinds, companies are slowly increasing their hiring as this gap persists.
• 1:31
  Saudi Aramco has reported a nine percent rise in third-quarter adjusted net income, reaching thirty-one point two billion dollars. This figure exceeded analyst expectations, offering a robust financial snapshot despite significant operational disruptions. The company's ability to generate such strong returns highlights the resilience of its core business model even under pressure.
• 1:52
  A major driver of this performance was the downstream sector, which saw adjusted earnings before interest and taxes jump by two hundred thirty-four percent. This surge was fueled by stronger refining margins, a critical factor in an environment where crude oil prices and product spreads have been volatile. The refining business has effectively offset challenges elsewhere in the supply chain.
• 2:14
  However, the backdrop to these numbers is one of intense geopolitical instability. C E O Amin H. Nasser stated that uncertainty and attacks on key energy facilities amplified the global energy supply crisis during the quarter. This context is vital for understanding the company's operational reality, as physical infrastructure has been directly targeted.
• 2:35
  The threat remains active. Yemen's Houthis have vowed to continue attacks on Saudi airports and oil facilities following a strike that caused extensive damage to Aramco's headquarters. In another incident, an attack on the company's base in Dhahran caused a fire, though operations continued normally with employees working from home. These events underscore the persistent security risks facing the kingdom's energy infrastructure.
• 2:57
  Despite these physical and geopolitical pressures, Aramco generated substantial free cash flow during the quarter, up from the previous year. The company also declared a significant base dividend. This strong cash generation provides some relief to the Kingdom's finances, even as the conflict continues to challenge regional stability.
• 3:21
  Anthropic is preparing for a public listing, but its latest financial disclosures reveal a tightening squeeze on its bottom line. Russell Brandom at TechCrunch reports that the company's new filing shows compute margins are deteriorating, even as revenue climbs. For the quarter ending September 30, Anthropic generated seventeen billion dollars in revenue.
• 3:41
  Yet, despite this growth, operating losses expanded because the cost of running its models rose faster than its income.
• 3:48
  The core issue lies in the economics of artificial intelligence infrastructure. Compute costs now consume fifty-eight percent of Anthropic's revenue, a significant jump from the previous quarter. This shift has eroded the company's efficiency ratio, meaning that for every dollar Anthropic earns, it is spending more on the hardware required to deliver its services.
• 4:07
  This trend is driven by Anthropic's aggressive strategy to secure capacity ahead of its initial public offering. The company's compute bill reached ten billion dollars for the quarter, a figure that includes substantial short-term commitments. These immediate contracts are significantly more expensive than multi-year deals, reflecting the intense competition for available processing power.
• 4:28
  As Anthropic gobbles up capacity to meet demand, the higher costs are directly impacting its margins, creating a challenging financial picture for investors to evaluate.
• 4:44
  A consortium led by United States billionaire Todd Boehly is preparing a securities swap to acquire international assets from the sanctioned Russian oil major Lukoil. According to Reuters, a deal is expected within weeks. The mechanism involves a bank acting on behalf of the consortium purchasing billions of dollars of frozen Lukoil securities from Western investment funds.
• 5:05
  These frozen shares were priced at thirty cents on the dollar, a steep discount that reflects the legal and financial constraints of their sanctioned status.
• 5:14
  The group behind this move is diverse, including Emirati investors International Holding Company and Al Hail Holding, the Syrian-Qatari Al-Khayat brothers, and the United States International Development Finance Corp. This structure helps navigate the regulatory landscape. Previously, the United States Treasury rejected an offer that would have given Lukoil a windfall.
• 5:34
  In response, the current consortium proposed placing shares in an escrow account rather than transferring them directly to the Russian company, aiming to satisfy regulatory concerns while facilitating the asset transfer.
• 5:46
  The financial stakes are significant, though the value has shifted. The initial valuation of the portfolio was twenty-two billion dollars, but this figure has deteriorated as some assets have stopped operating. The target assets are substantial, including oil fields and three refineries. This acquisition represents a major attempt to restructure ownership of Russian energy assets abroad under strict sanctions.
• 6:13
  Elon Musk is looking to shake up the American wireless market, but he has hit a wall with the big players. Reports indicate that Musk approached the heads of the top telecom companies to request network access for SpaceX to launch its own mobile phone service. However, Verizon, AT and T, and T-Mobile reportedly declined these requests.
• 6:32
  Now, SpaceX is turning its attention to EchoStar, the parent company of Boost Mobile, to see if a different path to connectivity is possible.
• 6:40
  The talks with EchoStar could lead to two main outcomes: SpaceX might buy Boost Mobile outright, or it could simply gain access to its network. This is a complex move because Boost Mobile is a discount carrier that leases its network from AT and T and T-Mobile. A significant hurdle here is that carrier lease agreements typically require the host carrier's permission to transfer.
• 7:01
  This means that even if SpaceX strikes a deal with EchoStar, AT and T and T-Mobile may still need to approve the arrangement to provide SpaceX with the access it seeks.
• 7:11
  Despite these obstacles, SpaceX's ambition is clear. The company's Chief Financial Officer, Bret Johnsen, has stated that the goal is to become a major mobile carrier in the United States. To support this vision, SpaceX recently agreed to purchase eight billion dollars worth of wireless spectrum licenses.
• 7:28
  This investment is designed to complement their satellite coverage, signaling a serious intent to build a robust, independent mobile infrastructure that could challenge the existing telecom giants.
• 7:45
  Wall Street leaders are divided over the risks of the artificial intelligence boom, with some warning that the sector faces a potential correction. The core tension lies in the massive capital required to keep up with demand. Blackstone President Jon Gray noted that the appetite for computing power is currently running well ahead of supply, creating an urgent need for more funding.
• 8:05
  This surge in demand has fueled a fundraising frenzy. In the Asia-Pacific region, tech fundraising reached 125.8 billion dollars in the first three quarters of 2026, up from 36 billion dollars the previous year. However, this rapid expansion has raised concerns about valuations.
• 8:23
  JPMorgan Vice Chairman Daniel Pinto cautioned that the market is pricing in revenue and earnings growth that is too steep, which could trigger a downturn. Morgan Stanley C E O Ted Pick echoed this sentiment, pointing to early signs that United States markets are edging close to a correction, with many stocks already down nearly 10 percent.
• 8:47
  Disney is moving toward thousands of job cuts, with reports indicating that some managers have been asked to target twenty percent in annual cost savings. According to Bloomberg News, these reductions may come from both eliminating positions and cutting expenses, disproportionately affecting the theme parks, television channels, and movie studio divisions.
• 9:07
  It is important to note that this twenty percent figure represents specific targets for certain managers, not an announced companywide staffing reduction, and no final number or timetable has been established.
• 9:18
  This potential wave of cuts follows a restructuring campaign that has already eliminated jobs this year, adding to thousands of positions cut in recent years. The company had a total workforce of about two hundred thirty-one thousand at the end of the last fiscal year. These actions are driven by pressure from streaming competitors, weaker box office revenue, slower theme park attendance, and challenges related to artificial intelligence.
• 9:41
  C E O Josh D'Amaro intends to redirect these savings toward film, television, technology, theme parks, and cruise operations. He has also promised double-digit growth in adjusted earnings per share, signaling a strategic shift to balance cost reductions with future profitability goals.
• 10:03
  Private equity firm Cinven has agreed to buy Theramex, a specialist in women's health, from Carlyle and PAI Partners. The deal is valued at 2.6 billion dollars, according to Femtech Insider, and is subject to regulatory approvals. While financial terms beyond the headline valuation are not being disclosed, the transaction is expected to close in the first half of 2027.
• 10:25
  Headquartered in London, Theramex provides treatments for conditions including menopause, osteoporosis, and fertility issues. The company serves more than six million patients globally. Since Carlyle and PAI acquired the business in 2022, they have helped it more than double its earnings before interest, taxes, depreciation, and amortization through new treatments and acquisitions.
• 10:46
  Philipp Meyer, a partner in Cinven's Healthcare Sector team, stated that the acquisition aims to address undiagnosed conditions in women's health and expand the portfolio's international footprint. This move highlights the growing investor interest in specialized healthcare sectors that have historically been underserved.
• 11:03
  That's it from me, Sam. Thanks for listening. Follow the show on Spotify, YouTube, Apple Podcasts, Amazon Music, or your favourite podcast platform, and join our WhatsApp channel for free updates. Until next time.