(Bloomberg) -- Happy Sunday.

Perhaps this week can best be summed up by the three Bs — birds, bankruptcy and a big birthday (sorry, that’s four Bs.) The collapsed crypto trading firm FTX started a review of its global assets and hired big guns Perella Weinberg to help with the potential sale of any viable units. It owes its 50 biggest unsecured creditors a total of $3.1 billion, court papers show. And then there’s Twitter…

So here’s a few ideas to help make sense of the days ahead.The big exodus: Elon Musk is considering firing more Twitter employees as soon as Monday, this time targeting the sales and partnership side of the business. He already sacked half of the social network’s staff last month and told those remaining they can expect to work 80-hour weeks  — at the office, none of that working-from-home nonsense. While we don’t have hard numbers on the people still employed, multiple teams that were critical for keeping the service up and running are completely gone, or borrowing engineers from other groups.

The big buzz phrase:  “Soft landing” is back in rotation in some of the more optimistic corners of Wall Street. While some positive inflation data has boosted hopes the Federal Reserve will slow its rate increases, and a recession can be avoided, big money managers are staying defensive.  Stagflation is the consensus viewpoint among a whopping 92% of respondents in Bank of America’s latest fund-manager survey.

The big safety violation: At least a dozen employees of electric-vehicle maker Rivian accused it of safety violations at its Illinois plant. The complaints detail a range of injuries, including a crushed hand, and allege management fished damaged electrical cables out of the garbage to be reused. The filings depict an automaker that cut corners as it scaled rapidly to keep pace in the competitive electric-vehicle space. A Rivian spokesperson disputed workers' allegations.

The big deal:  The COP27 climate talks in Egypt, which had appeared close to collapse on Saturday morning, secured a last-minute deal on an historic pact over loss and damage — the mechanism to pay poorer countries for harm caused by global warming. Still, some groups were disappointed by the limited progress in phasing out fossil fuels.

The big bird: Enjoy every bite of your Thanksgiving turkey, because a 16-pound bird is a whopping 21% more expensive this year compared with last, according to a survey from the Farm Bureau. Stuffing mix is up 69% due to a flour shortage stemming from Russia’s invasion of Ukraine. If you’re traveling by plane over the holiday, domestic, round-trip flights cost 10% more than last year.

The big market idea: Recent wild swings in Treasury yields suggest that turbulence may endure a while longer, so it’s probably good news that US markets are closed for Thursday’s holiday and there’s shortened bond trading on Friday.

The big buy:  Black Friday, which kicks off the holiday shopping season, may not be so cheerful for stores or investors who own retail stocks.  The S&P 500 Retailing Index has lost more than 30% in 2022 and consumers, worried about economic uncertainty and rising interest rates, will probably choose to be more frugal this year. 

The big birthday: Joe Biden turned 80 today. He already holds the record for being the oldest sitting president in US history.

The big blizzard: Bad luck if you’re in Western New York and hate snow. Plows are struggling to keep up as parts of Buffalo’s metro area face record-threatening accumulations of six feet or more thanks to an intriguing weather pattern know as the lake effect.  

The big miss:  Sam Bankman-Fried was a persuasive fellow, inducing some of the world’s biggest investors to give him billions for his now failed FTX cryptocurrency exchange. Among those missing red flags was Ontario Teachers’ Pension Plan, which ultimately invested and lost $95 million. Bloomberg reporter Layan Odeh takes a behind-the-scenes look at how the FTX equity purchase cycled through the Canadian pension manager’s due diligence process.

The big thoughts: Elizabeth Holmes has been sentenced to more than 11 years in prison for fraudulently building her blood-testing startup Theranos into a $9 billion company that collapsed in scandal. Bloomberg Opinion columnist Stephen Carter pins social media’s glee on schadenfreude, as the general public basks in the humiliation of a high-flying Silicon Valley celebrity brought low. 

ICYM our Big Take:  Guyana’s government is betting on a paradox. As rising sea levels imperil the South American country, it has stumbled upon a crude oil jackpot not far from its shoreline. The country’s leaders now believe the most effective way to rescue Guyana from fossil-fuel-induced climate change is to fully embrace the business of fossil fuels.

Hear this:  Brace yourself. Global financial leaders warn that the current era of expensive money is likely to stick around for at least another year. In a special edition of the Stephanomics  podcast from the Bloomberg New Economy Forum in Singapore, three experts in banking and monetary policy share why central bankers will be battling inflation in the short term as well as the long. 

On that note, have a good holiday week. We’ll see you on the other side.

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