And I thought the Great Resignation was over. BP CEO Bernard Looney is out after admitting he hadn’t been completely open about the extent of past relationships with colleagues. Let’s hope his replacement isn’t as prone to slipping up.

The lowdown

• 🛢️ BP CEO Bernard Looney resigns over past relationships with colleagues.

• 📉 Binance’s US CEO quits as the crypto exchange lays off a third of its workforce.

• 🦘 Australia’s High Court rules that Qantas illegally sacked 1,700 staff during the pandemic.

Featured story

Birkenstock files for US IPO

Birkenstock has unveiled plans to go public. Jesus’ favorite shoemaker is targeting a valuation of more than $8 billion, according to the FT. Its owner L Catterton is reportedly aiming to list on the New York Stock Exchange the week beginning October 9.

This is the second IPO for an L Catterton company in recent months. Beauty retailer Oddity Tech listed on the Nasdaq in July. That went well and helped build confidence that the US IPO market is reviving after more than 18 months of crickets.

That momentum has been maintained by offerings from chip designer Arm and grocery app Instacart, signaling the longest fundraising freeze in decades is coming to an end.

The content we're consuming today

• Going Concern: According to Deloitte, partners crowdsurfing in mosh pits is not a party

• Insider: How a single hard-charging CEO helped the US dollar take over the world

• CNBC: Years in the making, Venice approves a tax on daytrippers

Off-balance sheet items

• Forget the new iPhone. Here’s what really excited the audience at yesterday’s Apple event.

The bottom line