3. Remember crypto?
After a big-time flameout that resulted in several bankruptcies and liquidity crises, interesting things are happening in crypto markets. Early Friday, there was a rapid drop in crypto markets, which sent bitcoin, the biggest cryptocurrency in the world, below $22,000 after it recently topped $25,000 in a rally. Ether has also staged a comeback, a much bigger one than bitcoin's, since hitting lows in June. The big move in ether comes ahead of a planned upgrade of the ethereum blockchain next month. Both ether and bitcoin are still way off their highs, which they reached in November.
4. Shift at Starbucks
Big changes are afoot at Starbucks. The coffee chain said Thursday that its operating chief, John Culver, will be leaving the company in October after 20 years. It also said it is doing away with the chief operating officer role completely. Culver had been seen as a possible candidate for the CEO role, which Howard Schultz slid into earlier this year on an interim basis after Kevin Johnson retired. It's Schultz's third tenure as Starbucks' chief executive, although many on Wall Street expect the company to name a successor next month at its investor day. The next CEO will have to confront a growing unionization drive at the company's coffee shops.
5. Xi and Putin plan to be at G-20
Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, both plan to be at November's Group of 20 meeting in Indonesia, according to Reuters. It would mark Xi's first trip outside China since January 2020, before Covid, which originated in China, became a pandemic. The development comes as Putin continues to wage war in Ukraine after his military launched an unprovoked invasion of Russia's former Soviet neighbor earlier this year. Both Xi's and Putin's governments have been accused of human rights violations, which they have denied. President Joe Biden, whose administration has been supporting Ukraine's defense, is also expected to attend the G-20 summit, and a meeting between him and Xi is also reportedly in the works. Read live Ukraine updates here.
— CNBC's Jesse Pound, Diana Olick, Jack Stebbins, Amelia Lucas, Jenni Reid and Arjun Kharpal contributed to this report.
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