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More than 80 labor and climate organizations are supporting protest and strike efforts at Amazon facilities worldwide, according to the groups involved.

Organizers said strikes and protests would take place in more than 30 countries Friday.

An organizer with GMB Union, a U.K.-based labor union, described the effort as “the largest day of industrial disruption in Amazon’s thirty-year history.”

The effort garnered support from more than 400 lawmakers from 38 countries for a protest in 2020, including Rep. Rashida Tlaib (D-Mich.) and former U.K. Labour leader Jeremy Corbyn.

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The US economy grew at its fastest pace in nearly two years in the third quarter as higher wages from a tight labor market helped to power consumer spending, again defying dire warnings of a recession that have lingered since 2022.

Gross domestic product increased at a 4.9% annualized rate last quarter, the fastest since the fourth quarter of 2021, the commerce department’s Bureau of Economic Analysis said in its advance estimate of third-quarter GDP growth. Economists polled by Reuters had forecast GDP rising at a 4.3% rate.

The US’s economic resilience faces challenges. Interest rates remain high and are likely to remain so as the Federal Reserve continues its fight against rising inflation. War in Ukraine and the Middle East may also hit the economy, as could the looming likelihood of a US government shutdown next month.

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Major U.S. pharmacy chain Rite Aid said Sunday that it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits.

In 2022, Rite Aid settled for up to $30 million to resolve lawsuits alleging pharmacies contributed to an oversupply of prescription opioids. It said it had reached an agreement with its creditors on a financial restructuring plan to cut its debt and position itself for future growth and that the bankruptcy filing was part of that process.

The plan will "significantly reduce the company's debt" while helping to "resolve litigation claims in an equitable manner," Rite Aid said.

In March, the Justice Department filed a complaint against Rite Aid, alleging it knowingly filled hundreds of thousands of unlawful prescriptions for controlled substances from May 2014-June 2019. It also accused pharmacists and the company of ignoring "red flags" indicating the prescriptions were illegal.

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The US workforce added 336,000 jobs last month, much more than expected, as the world’s largest economy remained resilient in the face of higher interest rates.

The sharp acceleration in hiring saw non-farm payrolls rise during September by almost double the rate anticipated by economists. Readings for July and August were also revised higher, with 236,000 and 227,000 jobs added, respectively.

Employment growth had been fading in recent months, according to official data, but remained largely resilient while the Federal Reserve battled to get inflation under control. This bolstered hopes that the central bank will manage to guide the US economy to a so-called “soft landing”, where price growth normalizes and recession is avoided.

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FTX Trading on Friday filed for Chapter 11 bankruptcy, capping a sudden and startling downfall for one of the world's largest cryptocurrency exchanges.

Founder and CEO Sam Bankman-Fried also resigned from the company, which appointed John J. Ray III as its new chief executive. Bankman-Fried plans to stay with FTX while it works through the bankruptcy process, according to a statement on Friday.

"The immediate relief of Chapter 11 is appropriate to provide the FTX Group the opportunity to assess its situation and develop a process to maximize recoveries for stakeholders," Ray said in the statement.

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The Federal Reserve is expected Wednesday afternoon to announce its largest interest rate hike since 1994 — a bigger increase than it had previously signaled and a sign that the central bank is struggling to restrain stubbornly high inflation.

The central bank is considered likely to raise its benchmark short-term rate by three-quarters of a percentage point, far larger than the typical quarter-point increase, to a range of 1.5% to 1.75%. It will also likely forecast additional large rate hikes through the end of the year.

A series of sizeable increases would heighten borrowing costs for consumers and businesses, likely leading to an economic slowdown and raising the risk of a recession. The Fed's previous rate hikes have already had the effect of raising mortgage rates roughly 2 percentage points since the year began and have slowed home sales.

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