🇭🇰 Hong Kong will relax property rules for foreigners and grant two-year visas for high earners in an attempt to revive its status as a financial hub. https://bloom.bg/3CLB8EI

📵 Kakao's co-CEO resigned from the $16 billion internet giant after a widespread outage of its service, used widely by Koreans, businesses and government officials, caused chaos. https://bloom.bg/3D3Cuef

📈📉 See the extraordinary rise and fall of the Covid billionaires: https://bloom.bg/3ESl0nh

🇬🇧 “Markets are calling the shots.” UK traders say Liz Truss's departure after a month of economic chaos is a warning to future leaders. The next prime minister could be decided as soon as Monday. https://bloom.bg/3DpE23D

🖋️ Advisers to Elon Musk and Twitter are preparing paperwork to complete the $44 billion buyout by Oct. 28. Meanwhile, US officials are discussing whether to subject Musk’s ventures to national security reviews. https://bloom.bg/3eQ8OZS

💸 Inside Dubai's property boom, fueled by the super-rich from Mukesh Ambani to Russians seeking shelter. https://bloom.bg/3CJ5eIU

Hello! Here's a special weekend update from China's twice-a-decade leadership reshuffle:

🇨🇳 The six top officials who will rule alongside Xi Jinping for the next five years have just been revealed. Get to know who they are: https://bloom.bg/3smdsSo

⚡️Allies were promoted at the expense of potential rivals, solidifying Xi's control over the world's second-largest economy. https://bloom.bg/3FbA4N5

🚺 It also affirmed China’s shift in a more conservative direction, without a single woman on the Politburo for the first time in a quarter century. https://bloom.bg/3TKSSXr

Read more of the key takeaways here: https://bloom.bg/3VTihA5

🇨🇳 In a stark rebuke of Xi Jinping’s move to stack China's leadership ranks with loyalists, investors on Monday sold off Chinese stocks listed in Hong Kong, with a key benchmark tumbling to the lowest level since 2008. https://bloom.bg/3TBREOU

📊 The country also dropped key economic data, including GDP for the third quarter, after they were unexpectedly delayed without a reason last week. The figures paint a mixed recovery, with better-than-expected 3.9% economic growth alongside rising unemployment and weaker retail sales. https://bloom.bg/3VXNEcM

🇬🇧 Meanwhile, over in the UK, former Chancellor Rishi Sunak is a step closer to becoming the next prime minister after Boris Johnson pulled out of the leadership contest. https://bloom.bg/3Tw5jGT

🇬🇧 Rishi Sunak will formally become UK prime minister following a meeting with King Charles III on Tuesday. After spending the summer warning Liz Truss would trash the economy, he's now in charge of cleaning up the mess. https://bloom.bg/3zdmzIS

📈 In a reversal from Monday's dramatic selloff, Chinese stocks rebounded after earlier wiping $35 billion from the fortunes of the country's richest tycoons. https://bloom.bg/3N4iZGE

🤝 We go inside the complicated relationship between UBS's CEO and his powerful wealth czar. https://bloom.bg/3VVOoPQ

🏀 Adidas's breakup with Ye has wrecked the rapper's path to a multibillion-dollar fortune. Now the only two pro athletes signed to his Donda Sports agency are cutting ties too. https://bloom.bg/3TZQmg2

💉 The new Covid boosters that target the omicron variant aren't better than the old ones, a study finds. https://bloom.bg/3zcg211

📖📚😵‍💫 What is crypto? It took a whole issue of Bloomberg Businessweek to answer — and you'll be an expert by the end. https://bloom.bg/3f760rn

❗Breaking: Elon Musk told Twitter employees he doesn’t plan to cut 75% of staff when he takes over the company. https://bloom.bg/3N9xVn0

🇰🇷 Samsung heir Jay Y. Lee formally took the helm of the $250 billion company as its new executive chairman. https://bloom.bg/3DBZ3Io

💸 After an unprecedented wealth boom, the American middle class is facing its biggest hit in a generation. https://bloom.bg/3Na5bdP

🤝 Elon Musk completed his $44 billion takeover of Twitter, with CEO Parag Agrawal among the executives who are leaving. https://bloom.bg/3TK11fn

🍎 Apple delivered just enough good news in its quarterly report to avoid the fate of most tech giants this earning season. https://bloom.bg/3znUheY

🇨🇳 Xi's $6 trillion rout shows China markets serve the Communist Party first. https://bloom.bg/3sAI9TV

🇰🇷 South Korea launched an investigation into the Halloween crowd crush that killed 154 people in Seoul, one of the country’s deadliest incidents in years. The casualties included nationals from at least 15 countries. https://bloom.bg/3Dnk4VV

🇧🇷 Luiz Inacio Lula da Silva defeated incumbent Jair Bolsonaro, 50.9% to 49.1%, in a runoff vote to become Brazil’s next president. It's a dramatic comeback for the left-wing politician who was languishing in a jail cell just three years ago. https://bloom.bg/3zvaWNB

👀 Traders are bracing this week for four major events that could shape the market’s outlook for the rest of the year, including rate decisions by the Fed and Bank of England. https://bloom.bg/3DLNMFc

🙅‍♂️ Credit Suisse is not for sale; this is what the bank's chairman has to say to bargain hunters hoping to snap up the Swiss lender. https://bloom.bg/3UaHTH8

👣 A first-hand account from a Foxconn worker who walked 25 miles to escape a Covid lockdown at the world's largest iPhone factory. https://bloom.bg/3FvLATN

📝 This is how creative math helps companies exaggerate their progress when it comes to tackling pollution. https://bloom.bg/3DQ52th

🇰🇵 North Korea fired at least 10 ballistic missiles in a one-day record after warning it would retaliate against US and South Korean military drills. https://bloom.bg/3SXpLzF

🇭🇰 With a key financial summit underway, Hong Kong is trying to convince the world that the city remains the go-to place in Asia after three years of strict Covid restrictions and political upheaval. https://bloom.bg/3WpoOCU

🏳️‍🌈 Spectators at the upcoming Qatar World Cup could be allowed to stage peaceful protests, promote LGBTQ rights, and even kiss in public. https://bloom.bg/3sQjPOb

📈 After the Fed's fourth straight jumbo rate hike, Jerome Powell made clear he's prepared to continue tightening to stamp out inflation, shifting the focus from the size of the next increase to where rates will peak. https://bloom.bg/3DAvLZe

🎢 The wild swings in Chinese stocks this week on social-media rumors show how big shorts can quickly turn dangerous. https://bloom.bg/3sVFfcK

😵 Blackstone's blockbuster real estate fund is a $70 billion force in a now-faltering property market. Rising rates and financial tumult are giving some investors second thoughts. https://bloom.bg/3zIHUKz

⛔ Twitter will begin slashing jobs on Friday as tech companies from Apple to Amazon tighten their belts in a new phase of austerity. https://bloom.bg/3zK1czn

🚛 The metals for your electric vehicles are stuck in a 30-mile traffic jam. https://bloom.bg/3h9uEZ0

🙈 Don't look up. A Chinese rocket booster is headed for an uncontrolled fall through the atmosphere Friday, sparking concerns pieces could crash to Earth. https://bloom.bg/3T6TYMB

🍎 You might have to wait longer to get the latest phones from Apple, after China lockdowns affected operations at the world's largest iPhone factory. Meanwhile, China's daily Covid cases jumped to a six-month high. https://bloom.bg/3FQZfVI

🐦 After laying off roughly half its workforce in an email on Friday, Twitter is now reaching out to dozens of employees who lost their jobs and asking them to return. https://bloom.bg/3FQhYAs

🛥️ When the Ukraine war began, the West rushed to seize Russian oligarchs’ yachts. But the idle boats have become a burden for some taxpayers. https://bloom.bg/3WDknEQ

🐦 Elon Musk is under pressure as Twitter's debt load jumps to about $13 billion. But rapid cost cuts aren't necessarily the best path to profitability. https://bloom.bg/3UzireC

🇨🇳 Some of China’s most persistent virus hotspots have been locked down for weeks, sometimes even months, showing the limitations of the country’s contentious Covid Zero policy. https://bloom.bg/3t8lnmK

⛽ As Europe races to fill the gap left by Russian gas, it is leaving the world's poorest countries facing social unrest, blackouts and factory shutdowns. https://bloom.bg/3TgXMLe

🇺🇸 Republicans made gains in the US House while Democrats stayed competitive in Senate contests with mid-term elections underway. Follow who's winning the race for Congress here. https://bloom.bg/3fRSecy

🫅 Binance's Changpeng “CZ” Zhao became the undisputed crypto king with a move to take over FTX.com, the troubled firm led by his chief rival and onetime disciple, Sam Bankman-Fried. https://bloom.bg/3EhTSNY

🇷🇺 Elites in Russia are increasingly worried that the rise of outspoken hawks in the Kremlin will further harden Putin. https://bloom.bg/3G4gyT9

Here’s what we’re following right now:

🇺🇸 The struggle for control of the US Senate now comes down to which party wins two of the last three races, as Republicans limped toward House control. https://bloom.bg/3NQzarK

🪙 FTX faces bankruptcy after Binance bailed on its deal for the beleaguered crypto exchange. Follow the full story here. https://bloom.bg/3hnJeMx

🍎 Apple has imposed a time limit on AirDrop transfers for iPhones sold in China, after protesters used the file-sharing tool to spread images. https://bloom.bg/3tjdNpw

🪙 The crisis sparked by the collapse of Sam Bankman-Fried’s FTX has ensnared BlockFi, a troubled crypto lender once worth $3 billion but which is now unable to operate business as usual. https://bloom.bg/3TrhRPg

🐦 Elon Musk, in his first address to Twitter employees since buying the social network, said that bankruptcy was a possibility. https://bloom.bg/3A5M5jZ

🇮🇳 Billionaire Gautam Adani's expansion into Sri Lanka has put him in the middle of a fight between India and China. https://bloom.bg/3A2tG7u

Here’s what we are following right now:

🤝 US President Joe Biden will try to prevent ties with China from worsening further when he meets Xi Jinping on Monday, the first in-person meeting between the two world leaders since the pandemic started. https://bloom.bg/3E81t0n

🪙 A swift plunge in the value of FTX’s key crypto assets suggests that customers have a slim chance of recovering their deposits. https://bloom.bg/3URBscd

🎢 China and Covid, soaring Fed rates, as well as an energy crisis. There's plenty to disrupt the global economy in 2023. https://bloom.bg/3g3RDVi

🤝 The meeting between US President Joe Biden and Chinese leader Xi Jinping turned out much better than expected. https://bloom.bg/3Gm0fBv

🌏 "We must not let the world fall into another cold war," said Indonesian President Jokowi at the first session of the G-20 Summit. Follow the latest here. https://bloom.bg/3TvVMis

🪙 Binance's Changpeng "CZ" Zhao has cast himself as crypto's new savior. https://bloom.bg/3hH28OG