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SpaceX’s powerful Falcon Heavy rocket successfully launched on Friday morning, carrying a NASA mission bound for a distant asteroid.

Targeting the asteroid Psyche, the eponymous NASA mission is flying a spacecraft — about the width of a tennis court — on a journey of almost six years and about 2.2 billion miles, arriving at the planetary body in July 2029.
The launch took off at 10:19 a.m. ET from NASA’s Kennedy Space Center in Florida.

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NASA wants to study the composition of the asteroid, which the agency describes as “an unusual object likely rich in metal.” The Psyche spacecraft is armed with a variety of scientific tools, such as instruments for studying the asteroid’s magnetic field and chemical makeup.

A SpaceX Falcon Heavy rocket with the Psyche spacecraft launches from NASA’s Kennedy Space Center in Cape Canaveral, Florida, on October 13, 2023.
Chandan Khanna | AFP | Getty Images

The agency expects to spend about $1.2 billion on the Psyche mission, including the costs of development and operations. Of that total cost, NASA awarded SpaceX a contract of about $131 million to launch the mission.
The mission marks SpaceX’s eighth launch of its Falcon Heavy rocket, the company’s most powerful in operation. It landed the rocket’s pair of side boosters, to recover and reuse them for future launches. More

Target CEO Brian Cornell attended a White House meeting Thursday afternoon.
The big-box retailer has taken a hit from a tougher economic backdrop.
Other executives, including IBM CEO Arvind Krishna and Otis Worldwide CEO Judy Marks, were also on the list of business leaders expected to meet with President Joe Biden.

Target CEO Brian Cornell.
Scott Mlyn | CNBC

Target CEO Brian Cornell met with President Joe Biden on Thursday afternoon as the retailer — and the White House — try to figure out U.S. consumers.
Cornell is one of about a half-dozen business leaders across industries who offered up their point of view on the economy and the labor market at the White House. Other attendees at the meeting with Biden were expected to include Brendan Bechtel, CEO of construction and engineering firm Bechtel Group; Calvin Butler, CEO of energy and utility company Exelon; Kenneth Chenault, chair and managing director of venture capital firm General Catalyst; Thasunda Brown Duckett, CEO of financial services company TIAA; Arvind Krishna, CEO of IBM; and Judy Marks, CEO of Otis Worldwide, a manufacturer of elevator, escalator and similar equipment, according to the White House.

The CEO huddle was closed to the press.
In a statement, Target said it appreciated the chance to “participate in this important conversation” but provided few specifics about what was discussed.
“While they are incredibly resilient, we know American consumers still face several headwinds that are leaving them with less discretionary income and driving difficult trade-offs in their family budgets,” the statement said.
The company said it’s committed to providing affordable prices for shoppers and attractive pay and benefits for employees.
In a statement after the meeting, the White House said the president and business leaders spoke about economic growth and “underscored the importance of public sector-enabled, private sector-led investments.”

Biden’s meeting with the business leaders comes as the White House gears up for the next presidential election, a time when the president’s track record on the economy and inflation will be under the microscope. Inflation remains stubbornly high — a factor that has cut into consumer spending at Target — but Biden on Thursday cheered new data showing the rate of price increases continues to slow.
For Target, the meeting comes at a pivotal time. The retailer’s business has taken a hit from a tougher economic backdrop and the divisive political climate. It recently announced plans to close nine stores in major American cities, including New York City and San Francisco, blaming the shuttered locations on heightened levels of organized retail crime and concerns about violence.
The big-box retailer cut its full-year forecast in August, saying its shoppers have continued to watch their dollars and spend mostly on necessities even as inflation cools. At the time, Cornell cited other factors that could hurt sales in the coming months and during the critical holiday season, including higher interest rates and the return of student loan payments.
Target also got caught in the crosshairs of conservative political furor over its Pride month merchandise. It has had a collection of LGBTQ-themed items for more than a decade, but the merchandise drew backlash this year. The company removed some items, citing concerns about employee and customer safety.
In August, Cornell said on an earnings call that the “negative reaction” contributed to the company missing Wall Street’s sales expectations for the most recent quarter.
It’s not the first time the Target CEO has had an important meeting at the White House. During the early months of the Covid-19 pandemic in 2020, he joined Walmart CEO Doug McMillon and other top executives at a news conference in the Rose Garden with then-President Donald Trump and pledged to help ramp up access to Covid testing.
— CNBC’s Emma Kinery contributed to this story More

Former Dollar General CEO Todd Vasos is returning to lead the company once again.
The discounter has seen sales growth slow and has also faced criticism for having an unsafe environment for both employees and customers.
Ousted CEO Jeff Owen has been in the position for less than a year.

The exterior of a Dollar General convenience store is seen in Austin, Texas, on March 16, 2023.
Brandon Bell | Getty Images

Dollar General’s former CEO Todd Vasos is coming out of retirement to helm the company, which aims to rebound from slowing growth and allegations of unsafe working conditions.
Vasos, who served as the discounter’s CEO between June 2015 to November 2022, will replace Jeff Owen effective immediately, the company announced on Thursday.

“The Board has tremendous respect for Jeff and greatly appreciates his many contributions to the Company, especially during his long tenure leading our retail operations,” said Michael Calbert, the chairman of the company’s board, in a statement. “However, at this time, the Board has determined that a change in leadership is necessary to restore stability and confidence in the Company moving forward.”
Owen had been in the role for less than a year. During that time, Dollar General has seen a slowdown in its sales growth and has faced criticism from federal officials and activists for having unsafe stores that put employees at risk.
The company, which is rapidly adding stores and exanding its footprint, has more than 19,000 locations in 47 states. Dollar General has more than 185,000 full- and part-time employees.
Dollar General shares jumped more than 6% in extended trading Thursday.

Lower guidance

When it last reported earnings, Dollar General cut its full-year profit guidance. It did so again Thursday, and said it was now expecting earnings per share of about $7.10 to $7.60, compared to its previous expectation of $7.10 to $8.30.

Dollar General also said it anticipates net sales growth of 1.5% to 2.5%, revised from a previous expectation of 1.3% to 3.3%.
The company said it expects same-store sales to be in a range of flat to down 1% this year, versus a prior expectation of a 1% decline to a 1% increase.
Vasos said in a statement he is “honored” to rejoin the company at such a “pivotal time.”
“I look forward to getting back to work with the broader team as we strive to return to a position of operational excellence for our employees and customers and deliver sustainable long-term growth and value creation for our shareholders,” said Vasos.
Slowing sales have come amid pressure from employees and activists over working conditions. In May, shareholders passed a resolution, over the objections of the company’s board, to start an independent audit into worker safety. But it was unclear if the measure was binding and whether the company would carry it out.
Dollar General has accumulated more than $21 million in fines from federal officials for issues including blocked fire exits, blocked electrical outlets and clutter.
At the time the shareholder resolution passed, a Dollar General spokesperson said the company aims “to create a work environment where employees are able to grow their careers, serve their local communities and feel valued and heard, and we encourage employees to share their feedback through the many company-provided channels so that we can listen and work together to address concerns and challenges, as well as to celebrate successes.” More

David Beckham said that he supports a takeover of Manchester United.
“There’s no stability,” he said in a CNBC interview that aired Thursday.
Beckham said he has not been involved in a possible deal with Qatar to sell the Premier League club, despite some reports saying otherwise.

Inter Miami co-owner and President David Beckham backs a takeover of his original club Manchester United.
“At the moment, there’s no stability,” the longtime former midfielder for the Premier League club told CNBC’s “Squawk on the Street” in an interview aired Thursday. “It’s the right time for somebody to take over.”

Beckham also dispelled reports that he would serve as an ambassador for Manchester United in a potential sale to Qatar’s Sheikh Jassim Bin Hamad Al Thani. Beckham previously served as World Cup ambassador last year in a deal with Qatar.
“At the moment there’s been no discussion. I have had a long-standing relationship with Qatar because of my involvement with PSG … but there’s been no discussion at the moment,” Beckham said, referencing the French club Paris Saint-Germain, where he played at the end of his career around the time the Qatar Sports Investments group bought the team.

David Beckham of Manchester United ’99 Legends warms up prior to the Manchester United ’99 Legends v FC Bayern Legends match at Old Trafford on May 26, 2019 in Manchester, England. (Photo by Matthew Ashton – AMA/Getty Images)
Matthew Ashton – Ama | Getty Images Sport | Getty Images

During the CNBC interview, Beckham also discussed his various other ventures, including his ongoing business partnership with Authentic Brands CEO Jamie Salter. Authentic Studios, under Authentic Brands was behind the creation of the newly released Netflix docuseries, “Beckham,” which chronicles Beckham’s rise to superstardom and his marriage to Victoria Beckham. Authentic Brands previously took a majority stake in Beckham’s brand management firm, DB Ventures, in 2022.
Beckham’s success at Manchester United is featured prominently in the documentary.
The club has had a tumultuous last few years under the leadership of the American Glazer family, who took control of the Premiere League club in 2005. The team went six years without winning a trophy before it won the English League Cup this year.

In November last year, Manchester United announced star player Cristiano Ronaldo would leave the team following an interview where he criticized manager Erik ten Hag and the Glazer family. Ronaldo spent only one year with the club during his second stint there.
Manchester United is currently ranked 10th in the Premier League and sits at a record of four wins and four losses.
Soccer club Inter Miami, of which Beckham is part owner, signed a landmark deal with soccer superstar Lionel Messi earlier this year. Managing owner Jorge Mas said in July that he expects the signing to double revenues of the soccer club over the next year. More

Ford Motor is “at the limit” of what it can offer the United Auto Workers union in terms of economic concessions, an executive said Thursday.
Kumar Galhotra, president of the company’s traditional operations, said any additional costs would hurt the automaker’s ability to operate in the future.
His comments come a day after the union unexpectedly launched a strike at the automaker’s highly profitable SUV and pickup truck plant in Kentucky.

Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023.
Matthew Hatcher | AFP | Getty Images

DETROIT – Ford Motor is “at the limit” of what it can offer the United Auto Workers union in terms of economic concessions, an executive said Thursday as contract negotiations continue for roughly 57,000 U.S. workers.
Kumar Galhotra, president of the company’s traditional operations, said that while the company is willing to shuffle money around within the existing offer to meet the union’s priorities, any added costs would hurt the automaker’s ability to operate in the future and invest in emerging areas such as electric vehicles.

“We’ve been very clear that we are at the limit. We stretched to get to this point,” Galhotra said Thursday during a media and analyst call. “Going further will hurt our ability to invest in the business like we need to invest.”
Galhotra declined to disclose how much the company’s current offer to the union would cost the company.
His comments come a day after the union unexpectedly launched a strike at the automaker’s highly profitable SUV and pickup truck plant in Kentucky.
“We’re surprised by the escalation last night,” Galhotra said. “Kentucky Truck Plant is one of the most important manufacturing plants of any kind in America.”
UAW President Shawn Fain said Wednesday night that the strike escalation was a result of the company repeating its previous offer instead of offering additional economic benefits.

“This offer was the exact same offer they gave us two weeks ago. In our position, they’re not taking it seriously,” Fain said during a pre-recorded online video. “We’ve been very patient working with a company on this. At the end of the day, they have not met expectations. They’re not even coming to the table on it.”
Ford’s most recent proposal included 23%-26% wage increases depending on classification; retention of platinum health care benefits; ratification bonuses; reinstatement of cost-of-living; and other benefits.
In the past several days, Ford said, it had been negotiating outstanding issues such as retiree benefits and potential options for future battery plant workers, in line with guidance from the union.
Electric vehicle battery plants have been a major point of contention for the union in bargaining with all three of the Detroit automakers. Ford, General Motors and Stellantis have all formed joint ventures with battery makers to manufacture EV batteries in the United States. Officially, because they’re owned by joint ventures, the battery plants aren’t and won’t be covered by the automakers’ agreements with the union.
The union has characterized the joint-venture arrangements as a plan to shut it out of the new factories, many of which are under construction now. But the UAW said last Friday that GM had agreed to place the workers at those battery plants under its national agreement with the union – a strong hint that it now expects Ford and Stellantis to do the same. More

Maersk is adding SpaceX’s Starlink to more than 330 container ships.
Maersk said the installation of the Starlink internet service is expected to be complete by the first quarter of next year.
The satellite network is set to provide internet speeds of over 200 Mbps for use on the ships.

Maersk is one of the world’s biggest container shippers.
Andia | UIG via Getty Images

Danish logistics giant Maersk is adding SpaceX’s Starlink to more than 330 container ships, the companies announced Thursday.
Maersk said the installation of the Starlink internet service is expected to be complete by the first quarter of next year, with the satellite network set to provide internet speeds of over 200 Megabits per second.

“The highspeed connectivity will enable our seagoing colleagues to stay connected with their loved ones while at sea. It will also propel the expansion of seamless cloud solutions, enabling our vision to digitalise our vessel operations,” Maersk’s Head of Fleet Management and Technology Leonardo Sonzio said in a statement.

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Starlink is the global communications network that Elon Musk’s company has been building, with more than 5,000 satellites launched and counting.
The company initially targeted consumer customers, and now says Starlink has upward of two million subscribers. It has expanded into other markets — including national security, enterprise, mobility, maritime and aviation — and disrupted the existing satellite communications sector.
Maersk said its deal with SpaceX came after a successful pilot phase with more than 30 of the company’s ships, during which crew members gave “very positive feedback” about the service. More

Comcast and Disney have hired investment banks to appraise Hulu.
On Nov. 1, Comcast and Disney can both trigger an option that will kick off a sale process where Disney will acquire Comcast’s minority stake in Hulu.
Hulu has a minimum valuation of $27.5 billion, as set in 2019; Comcast CEO Brian Roberts said last month he believes Hulu is ‘way more valuable today.’

Bob Iger, CEO, Disney, and Brian Roberts of Comcast
Getty Images

Comcast and Disney have hired investment banks to value Hulu, the next step in what’s been a nearly five-year process to put the streaming service under one owner.
Comcast, which owns one-third of Hulu, has hired Morgan Stanley, and Disney, which owns the other two-thirds, has hired JPMorgan Chase. Each bank is tasked with providing a fair value for Hulu — a condition of an agreement set up in 2019 that allows either Disney or Comcast to trigger an option forcing Disney to buy Comcast’s 33% stake.

Spokespeople for Comcast, Disney, Morgan Stanley and JPMorgan declined to comment.
Nearly five years ago, Comcast and Disney set up an unusual agreement after Disney acquired the majority of Fox’s assets in a $71 billion deal, including Fox’s minority stake in Hulu. That deal gave Disney majority control over Hulu, because Disney already owned one-third of the streaming service.
Comcast didn’t want to sell its stake in Hulu to Disney right away because it believed the value of streaming video would increase between 2019 and 2024. Still, Comcast executives also understood the company would no longer have operational control over the future of the company. Consequently, Disney and Comcast worked out a deal where Comcast could participate in the assumed appreciation of the business while also setting a time where Disney could eventually unify ownership and integrate Hulu into its long-term streaming strategy.
Initially, the companies set an option strike date of January 2024. Last month, the two companies agreed to move up the deadline at which Hulu will be valued from January 2024 to Sept. 30. That deadline represents the final date at which Hulu’s valuation will be assessed by both Morgan Stanley and JPMorgan Chase.
On Nov. 1, Comcast can force Disney to acquire its 33% stake in Hulu and/or Disney can trigger its option to acquire the stake from Comcast. That’s expected to happen, Comcast CEO Brian Roberts said at the Goldman Sachs’ Communacopia conference last month.

“We are excited to get this resolved,” Roberts said at the conference. “The company is way more valuable today than it was [in 2019]. And we are looking forward to seeing how that process [plays out].”
Once the option is triggered, Morgan Stanley and JPMorgan will begin their assessments of Hulu’s value. If the two banks’ final valuations are within 10% of each other, the average of the two banks’ determinations will be the price at which Hulu is valued. Disney would then pay Comcast 33% of that value for its stake. The 2019 deal set a floor valuation for Hulu at $27.5 billion.

Rafael Henrique | SOPA Images | LightRocket | Getty Images

If the two banks’ assessments aren’t within a 10% range of each other, then Disney and Comcast would agree to hire a third investment bank to make another valuation conclusion. To set the sale price, that third valuation would then be averaged with the previous assessment that’s closest to it.
The valuation calculation process isn’t straightforward. Hulu has 48.3 million subscribers. A pure-play streaming service at its scale has never been sold before. Roberts argued during the Goldman conference that a fair appraisal would also have to include synergy value. Disney’s ownership of Hulu helps prop up Disney+ and ESPN+ subscribers because Disney bundles all three streaming services together.
There is no timetable for how long the valuation process will take or when a deal will get done, but Roberts acknowledged Disney and Comcast both want a resolution sooner rather than later, which is why they agreed to move the option strike date forward several months.
“It will take a little time for this to play out,” Roberts said. “But both companies wanted to get it behind us. So we pulled the date forward.”
Roberts said at the conference Comcast plans to return proceeds from a sale to shareholders.
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC.
WATCH: Disney streaming growth with Hulu is a promising opportunity, Bernstein analyst says More

Box office analysts predict Taylor Swift’s The Eras Tour concert film will easily surpass $100 million during its opening weekend.
In fact, the film could generate as much as $150 million during its debut, a figure that would make it the highest opening of a concert film ever and also one of the highest openings of 2023.
AMC Entertainment, which is distributing the film, reported last week that presales for its theaters had already exceeded $100 million for the full run of Swift’s film.

U.S. singer-songwriter Taylor Swift performs during her The Eras Tour concert at SoFi Stadium in Inglewood, California, on Aug. 7, 2023.
Michael Tran | Afp | Getty Images

The weekend box office (Taylor’s Version).
Taylor Swift has sold out stadiums worldwide and now she’s packing cinemas, with her sights set on a $100 million opening weekend for her The Eras Tour concert film — and that’s on the conservative side.

Box office analysts predict Swift’s film could generate as much as $150 million during its debut this weekend, a figure that would make it the highest opening of a concert film ever, and also one of the highest openings of 2023.
“Taylor is in a league of her own with this release,” said Shawn Robbins, chief analyst at BoxOffice.com.
Fervor for the tickets has picked up because a significant portion of Swift’s fanbase was unable to attend the concert in person due to high demand and secondary market price surges. The film is expected to draw those who were unable to attend, as well as spark repeat viewings.
“Given the unique nature of virtually every aspect of the marketing and theatrical release strategy of the Taylor Swift Eras Tour film, speculation is running rampant as to how massive the opening weekend will be,” said Paul Dergarabedian, senior media analyst a Comscore.
Demand was so high, in fact, that Swift shifted the release date from Friday to Thursday, offering showtimes beginning at 6 p.m. local time.

“Look what you genuinely made me do,” Swift wrote on Instagram on Wednesday as she announced the early access showings in the U.S. and Canada. “We’re also adding additional showtimes Friday and throughout the weekend. All tickets will be available by 10am tomorrow morning. And it’ll be showing starting Friday in 90 countries all over the world.”

Just another record to burn

Highest-grossing concert film worldwide: “Michael Jackson’s This Is It” — $262.5 million
Highest opening weekend for a concert film: Miley Cyrus’ “Best of Both Worlds” — $31.1 million
Widest domestic release for a concert film: “Michael Jackson’s This Is It” — 3,481 locations

Source: Comscore

Presales for the theatrical concert have generated interest on par with the likes of Disney’s Marvel and Star Wars franchises. Average ticket prices for the film are more than 40% higher than typical releases this year.
Base prices for tickets for standard formats start at $19.89 for adults and $13.13 for kids. The numbers reflect Swift’s birth year and her lucky number, 13. Tickets for premium format screens such as IMAX and Dolby come at a higher cost.
“Taylor is opening her movie like a traditional Hollywood tentpole in close to 4,000 theaters domestically,” Robbins said. “Whether or not Swift’s blockbuster has staying power will be up to her fans and whether or not casual audiences decide to check out the hype.”
Comscore reports the film will open in 3,850 locations, the most of any concert film ever.

$100 million opening weekends in 2023

“Barbie” (Warner Bros.) – $162 million
“The Super Mario Bros. Movie” (Universal) – $146.3 million
“Spider-Man: Across the Spider-Verse” (Sony) – $120.6 million
“Guardians of the Galaxy Vol. 2” (Disney) – $118.4 million
“Ant-Man and the Wasp: Quantumania” (Disney) – $106.1 million

Source: Comscore

AMC Entertainment, which is distributing the film, reported last week that presales for its theaters had already exceeded $100 million for the full run of Swift’s film.
Robbins warned that because the film is only showing on the weekends, instead of full-week play like traditional movies, it could skew box office comparisons after opening weekend. Still, expectations are high that Swift’s theatrical concert will generate revenue throughout its limited engagement. It runs through Nov. 5.
Still, movie theaters are likely to see a big bump in concession sales as cinemas have designed specialty popcorn buckets and boutique cocktails for the film. Additionally, many locations have plans to set up friendship bracelet-making tables and other in-person events to make the occasion bigger and more memorable than just a trip to the movies.
“No matter what, [the film is] already an enormous success and music to the ears of theater owners,” said Robbins. More