Hello, N2K’ers!

The subject of this week’s world famous News Haiku^TM competition is that Delta $DAL ( ▼ 1.75% ) and United Airlines $UAL ( ▼ 1.97% ) are being sued by passengers who claim they were duped into paying up to $100 extra for window seats that did not have actual windows. Email me your haiku by Thursday at noon ET and get ready for glory.

Now let’s talk about the news you Need2Know, eh?

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Apple’s releases new iPhone Air

• YouTube’s NFL debut scores 17 million viewers

• StubHub looking to raise $850M for IPO

• Eldest boy gets control of Fox, sibs get the cash

• Jobs report underwhelms as job growth stalls

What’s the stock market up to, eh?

$SPX ( ▲ 0.27% ) $DJI ( ▲ 0.43% ) $NDX ( ▲ 0.37% )

Companies mentioned in today’s newsletter

$AAPL ( ▼ 1.48% )  $GOOGL ( ▲ 2.39% )  $DIS ( ▼ 1.24% )  $FOX ( ▼ 6.67% )  $NWSA ( ▼ 1.74% )  $RATE ( ▼ 0.63% )  

Apple’s releases new iPhone Air

This time last year I got the new iPhone 16, which I’ve got to tell you was a complete waste of time and money compared to the 13 I’d had before. So, am I stoked the company has released an iPhone 17 and a new $999 iPhone Air? No, I am not.

However, it’s possible you might be stoked about it. Let’s find out in today’s poll below! ⬇️

At their latest product event, Apple $AAPL ( ▼ 1.48% ) introduced a new lineup of iPhone 17 models, including the iPhone 17 Air — the company’s thinnest and most lightweight iPhone to date. The iPhone Air features a slimmed-down build while still delivering impressive performance, powered by Apple’s new A19 silicon chip. Its refined design doesn’t compromise on durability, and the device showcases an edge-to-edge display with an exceptionally narrow bezel for a more immersive viewing experience. The battery also lasts a whole 24 hours. Can you imagine?

Photography enthusiasts will enjoy the 48-megapixel, ultra-wide camera and advanced dual-lens system, making vibrant, detailed photos effortless (although, for my money, I’d prefer to shoot on film). Still, the improved front camera also enables vertical landscape selfies, eliminating the need to rotate your phone for broader shots. Meanwhile, a 256GB base storage ensures plenty of room for apps and memories. Is it better than the iPhone 13 I traded in last year? Probably a little. Do I need it? Definitely not. How about you?

It’s available for pre-order now and hitting stores on September 19.

Song of the day: Cut Copy, “Belong To You”

Melbourne-based electro-dance-rock veterans Cut Copy describe their new single as “written about a guy who obsesses about past mistakes without realizing that the love he’s searching for has been right in front of him all along.” It’s sort of how I feel about a nice lump of cheese quite often when I’m standing in the cheese shop.

YouTube’s NFL debut scores 17 million viewers

The National Football League (NFL) made a historic move by streaming its first game on YouTube $GOOGL ( ▲ 2.39% ) this weekend, drawing an impressive 17.3 million average viewers during the broadcast.

Still, the debut didn’t arrive without controversy. Rival networks and skeptics have raised questions about the accuracy of the ratings data, pointing out discrepancies between traditional TV ratings and YouTube’s metric methodology. Both ESPN $DIS ( ▼ 1.24% ) and FOX $FOXA ( ▼ 6.15% ) big-shots pointed out that ratings agency Nielsen uses a different methodology to measure YouTube viewers than it does for their networks.

“Nielsen’s measurement of the YouTube game will not be made available to other Nielsen clients, a flagrant departure from Nielsen’s history of transparency and a slap in the face to longstanding clients,” Fox Sports president of insights and analytics, Mike Mulvihill, tweeted late Friday night.

“When it comes to streamers, the rules simply don’t apply,” he added. Miaowwww.

Today on the ‘gram: Can you read this?

Post of the day: A familiar feeling for those over 30

Quote of the Day

StubHub looking to raise $850M for IPO

StubHub, the popular ticket marketplace, is once again moving forward with its long-anticipated IPO, signaling confidence in the market after a temporary pause earlier this year. The company had initially filed its public S-1 in March, but market uncertainty led to a postponement in April. Now the company is ready to offer 34 million shares priced between $22 and $24 each, valuing it at around $850 million.

In 2024, StubHub generated $1.8 billion in revenue but posted a modest net loss of $2.8 million, indicating a focus on scaling its operations. The company’s largest shareholder is Madrone Partners with a 27.1% stake. Eric Baker, StubHub's founder and CEO, owns just 5.2% of the company’s Class A shares, but his control is solidified through super-voting Class B shares, which grant him 90% of the voting power. I’d like him to vote to give me all his money when the company floats, please.

Should you check your 401(k) today?

👍️ 

Yes yes yes yes yes.

Eldest boy gets control of Fox, sibs get the cash

The Murdoch family’s long-running saga over control of its vast media empire has drawn to a close, with oldest son Lachlan Murdoch assuming leadership while his siblings, James, Elisabeth, and Prudence, opt for a modest billion-dollar cash payout each.

The arrangement, which mirrors themes from HBO’s hit series "Succession," solidifies the conservative tilt of Rupert Murdoch’s media outlets, including Fox News and The Wall Street Journal.

The resolution follows years of courtroom battles and behind-the-scenes negotiations. The family drama peaked last fall in a Reno, Nevada courtroom, where Rupert Murdoch’s attempt to amend the family trust in Lachlan’s favor was met with resistance. A judge ultimately ruled against the proposed changes, leading to settlement talks that resulted in this agreement.

Sing it with me:

In the settlement, Rupert Murdoch’s three eldest children will each sell their holdings in Fox $FOX ( ▼ 6.67% ) and News Corp $NWSA ( ▼ 1.74% ) over six months. Lachlan is widely thought of as more conservative than his siblings, so you can expect the New York Post to continue churning out headlines like this one for a good long while. And this one. [shaking my head].

Jobs report underwhelms as job growth stalls

Jobs numbers in August were well below expectations so we spoke with Mark Hamrick at Bankrate, who described "largely a no hire, no fire job market."

With only 22,000 jobs added in August and unemployment ticking up to 4.3%, Hamrick said "the 'no hire' part of that is very evident in the payroll numbers." He added that "for 2025 so far...we're averaging about half the payroll gains that we did last year." This slowdown raises concerns, particularly for certain demographics, as "the unemployment rate among Black people is up to seven and a half percent.”

While sectors like healthcare and social assistance have been "standing up" in terms of job creation, Hamrick highlighted the struggle in goods-producing sectors, noting the "U.S. manufacturing sector is struggling" amidst weak global growth. Despite the challenging data, Hamrick dismissed any notion of data manipulation, stating that the administration's claims of rigged data are "the least credible" and undermine trust in "robust, credible data."

Regarding potential Federal Reserve rate cuts, Hamrick believes a September cut would likely be driven by concerns for "the maximum employment part of their dual mandate," rather than a strong economic outlook. He concluded, "the labor is not solid as it was before. I think that's their primary concern now."

Poll of the day: Do you care for Air?

Poll results: You’re off the housing market

We asked:

Would you buy or sell a home in this market?

You answered:

🟨🟨🟨⬜️⬜️⬜️ Sure. You've got to live somewhere! (178)

🟩🟩🟩🟩🟩🟩 No, I'm waiting until interest rates are more favorable and/or there are more bidders. (326)

⬜️⬜️⬜️⬜️⬜️⬜️ I'll rent till I die. (44)

548 Votes via @beehiiv polls