Here's what we are reading this morning:
Cowen sees holiday gloom ahead for retail | Retail Dive: Analysts pointed to weakening demand and record inventory levels, an unfortunate mix for the industry’s profit prospects.
Colleges struggle with enrollment declines, underfunding post-Covid: The number of undergraduates enrolled in college nationwide is now down 9.4% compared to two years ago — a loss of nearly 1.4 million students.
Businesses added 208,000 jobs in September, better than expected, ADP reports: Businesses added 208,000 jobs for the month, better than the 200,000 Dow Jones estimate and ahead of the upwardly revised 185,000 in August.
KKR's Envision Deal Shows How Ugly Creditor Battles Are Getting - Bloomberg: Investors who once flocked to the loans that financed the takeover of Envision Health ended up fighting over crumbs. Rising rates and recession risk augur more such battles ahead.
J&J Wins Pause of States’ Asbestos Lawsuits in Bankruptcy Court: New Mexico and Mississippi must pause from proceeding with their asbestos-related consumer protection lawsuits against Johnson & Johnson because allowing them to continue while other creditors are on hold is unfair, a New Jersey bankruptcy court judge ruled.
Loot Crate’s Venture Backers Reach $6.8 Million Chapter 11 Deal With Creditors: Venture-capital firms that backed “geek and gamer” subscription service Loot Crate Inc. agreed to settle a lawsuit alleging they used scripted confrontations and other hardball tactics to tighten their grip on the company, eventually pushing it into bankruptcy.