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A rebound in Chinese stocks helped lift American markets on Thursday.

The boost came as Beijing indicated it was prepared to provide hundreds of billions in stimulus, and the country’s central bank also announced on Wednesday that it would cut interest rates by an unprecedented rate.

The 20 largest Chinese companies, listed simultaneously on the New York Stock Exchange and Nasdaq, have reached a market capitalization of $71 billion in the U.S., led by e-commerce giants Alibaba and Temu parent Pinduoduo.

It marks a change as The Chinese government is bringing in the “big guns” to stimulate growthhedge fund billionaire David Tepper told CNBC Squawk box.

First

Hurricane Helene made landfall southeast of Tallahassee late Thursday as a Category 4 storm with maximum sustained winds of 140 miles per hour The strongest storm to hit the Florida Big Bend Region. The storm hit Georgia as a Category 1 storm early Friday as authorities warned of life-threatening winds, heavy rains and catastrophic storm surges. More than 2 million homes and businesses are without power.

BUSINESS + FINANCE

Healthcare software company Epic Systems is facing an antitrust lawsuit from startup Particle Health, which helps retrieve and analyze medical records “Monopolist” in electronic health records Market. Epic, which generated $4.9 billion in revenue in 2023, is the dominant player in the hospital EHR market. Still, experts say the case is difficult to win and that there will be no “smoking gun.”

Wealth + Entrepreneurship

Francoise Bettencourt Meyers, the granddaughter of the founder of L’Oréal, became the richest woman in the world on ThursdayHer net worth rose by $5.5 billion due to a rise in China-dependent European luxury stocks. Bettencourt Meyers overtook Walmart scion Alice Walton, who landed at No. 1 about three weeks ago.

TECH + INNOVATION

The co-founder of failed robot truck startup TuSimple is making a comeback attempt, raising $20 million for his new company Bot Auto. The company plans begin commercial truck traffic in 2025, and unlike TuSimple, whose shares were delisted earlier this year after a major implosion, Bot Auto will own and operate its trucks directly.

MONEY + POLITICS

New York Mayor Eric Adams was subsequently charged with bribery and fraud allegedly received illegal campaign contributions by the Turkish government, according to an indictment published on Thursday. The charges followed a months-long investigation, but Adams rejected calls for his resignation, saying: “I will continue to do the job I was elected to do.”

MORE: Still, Adams can be forcibly removed from office, either by New York Governor Kathy Hochul or by an “incapacity committee,” and the city’s public attorney, Jumaane Williams, is next in line. The incumbent mayor would have three days to call a nonpartisan special election within 80 days.

millionaire Investors prefer Vice President Kamala Harris according to a survey by UBS’ asset management department. Still, the poll found that a slim majority of respondents supported former President Donald Trump’s handling of the economy.

SPORTS + ENTERTAINMENT

The new DreamWorks animated film The wild robot It’s expected to win at the weekend box office against lackluster competition, with a projected box office in between $24 million and $30 million in domestic theaters. The film’s excellent reviews make it the best-reviewed computer-animated film on Rotten Tomatoes released in the 2020s.

DAILY COVER STORY

In chaos at the boar’s head

TOPLINE When a recall rocks the food industry as much as the deadly listeria outbreak linked to a Boar’s Head factory in Jarratt, Virginia, the CEO or owners usually take the news in stride and try to project a sense of calm. But the families behind the 119-year-old deli were strangely silent. This highlights how mysterious Boar’s Head has become.

A letter posted on the company’s website about the recall of more than 7 million pounds of ready-to-eat meat products: “This is a dark moment in our company’s history, but we intend to use this as an opportunity to improve food safety programs.” just for our company, but for the entire industry.” – is simply signed “Boar’s Head”. A single company spokesperson has been quoted in media reports, and the company refuses to even confirm who the current CEO or chairman is.

Now, after the deaths of at least 10 people and nearly 60 hospitalizations in about 19 states, according to the CDC, the company that took a century to become America’s largest deli brand is facing an existential threat— with multiple civil lawsuits and talks of a congressional hearing and a Justice Department investigation that could result in criminal charges.

But the feuding families that founded Boar’s Head appear to be more worried about a series of petty legal disputes over the billion-dollar brand.

“All of this was completely avoidable,” says attorney Bill Marler, whose Seattle law firm Marler Clark specializes in food recall victim claims and filed a lawsuit against Boar’s Head on behalf of a survivor. “They were They were better at growing listeria than at preparing food for human consumption.”

WHY IT’S IMPORTANT “That is one of the deadliest recalls due to listeria for years – and lawyers claim it was easily preventable,” says Forbes Staff writer Chloe Sorvino. “The victims’ families want Boar’s Head to be held accountable.”

MORE Boar’s Head is recalling 200,000 pounds of deli meat as listeria outbreak spreads to 13 states

FACTS + COMMENTS

A majority of American Catholics believe the church should change its mind long-standing ban on birth controlaccording to a new survey from the Pew Research Center. Support for new stances on social issues – including recognition of gay and lesbian marriage – comes as religious participation declines in the US:

83%: The proportion of American Catholics who support allowing contraception

1930: The year the Roman Catholic Church officially banned all artificial forms of birth control

33%: The proportion of Catholics who attended church regularly between 2021 and 2023 fell from 45% between 2000 and 2003 – the largest decline of any religion

STRATEGY + SUCCESS

A pandemic-fueled tech boom led to a slowdown in traditional tech roles, resulting in more than 135,000 roles being eliminated in 2024. AI is certainly a factor – it can handle routine programming and technical tasks. To stay relevant in the industryIt is important to keep track of the strengths and weaknesses of AI and to promote soft skills such as communication and problem solving. And the good news: Lower interest rates could spur new investment and reinvigorate innovation.

VIDEO

QUIZ

Former President Donald Trump has expanded his merchandise collection, which already includes NFT trading cards and sneakers. What kind of accessories did he announce it on Thursday?

A. Watches

E.g. handbags

C. Belt

D. Earrings

Check your answer.

Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.