Stories from Wednesday, October 28, 2026

• Frontier's 71% fare jump shows what 'budget' means once Spirit is gone

  Frontier's fare revenue per passenger jumped from $39.74 to $67.82 and passengers still rose 18%. Fuel is a real excuse, but the quarter shows a budget airline finding pricing power.

  Opinion · Oct 28, 2026, 1:25 PM EDT · Connor O'Brien

• DTCC's tokenization service goes live with JPMorgan, Citi and Morgan Stanley signed up

  The Depository Trust Company launched a service that creates tokens representing securities it holds on the Canton Network and its private Besu chain, with 20 firms signed up and 34 securities eligible at launch.

  Crypto · Oct 28, 2026, 12:10 PM EDT · Jennifer Walsh

• Boston Scientific cuts its 2026 outlook and sees Q4 sales falling after its August cyberattack

  The medical device maker lowered its full-year profit and sales forecasts and now expects fourth-quarter revenue to shrink by about 1% to 3%.

  Equities · Oct 28, 2026, 12:00 PM EDT · Marcus Rodriguez

• GE Vernova agrees to buy grid equipment maker Trench Group for $9 billion

  GE Vernova is buying the high-voltage grid equipment supplier from Triton Partners, expecting to fund it equally with cash and debt, with closing expected in late 2027.

  Equities · Oct 28, 2026, 11:35 AM EDT · Marcus Rodriguez

• The most US-aligned countries cut Treasury buying by more than 60% through August, Bloomberg finds

  Bloomberg counts $174.3 billion of net Treasury buying by the most US-aligned countries from January to August, the least since 2021, with Asia leading the pullback as Japan's buying all but stopped and South Korea and Taiwan sold.

  Macro · Oct 28, 2026, 11:20 AM EDT · James Mitchell

• As its $1 deal ends, Anthropic gives government buyers 40% off Claude

  A new OneGov agreement with the GSA bills government buyers for the Claude tokens they use, at a 40% discount, and opens the deal to state and local governments.

  Startups · Oct 28, 2026, 11:10 AM EDT · Robert Harrison

• Nelson Peltz's Trian offers to buy Wendy's for $1.4 billion, the Journal reports

  The report comes after Reuters said in August that Trian, a longtime holder of about 16% of the burger chain, had no plans to bid at the time.

  Equities · Oct 28, 2026, 10:30 AM EDT · Marcus Rodriguez

• US military tells ships with no need to be near Hormuz to stay well clear

  A US Navy notice shared by maritime authorities on Oct. 28 says neutral ships may be questioned and searched under the blockade of Iran and should plan extra time, while traffic is already far below normal.

  Macro · Oct 28, 2026, 10:10 AM EDT · James Mitchell