Week of 9/15/24
This week we saw pagers explode in Lebanon, Trump’s second assassination attempt in less than 2 months, interest rate cuts for the 1st time since 2020, updates on the TikTok court battle, and more...
Top 3
📟 Pagers Exploded in Lebanon
Over the past week, pagers used by Hezbollah exploded, killing at least 12 and injuring thousands. The next day, other electronics, including walkie-talkies and solar energy systems, also detonated, raising the death toll to dozens and resulting in more injuries.
Both attacks are widely believed to be linked to Israeli intelligence operations which would have required a high level of sophistication and covert coordination to infiltrate the shipments and tamper with the electronics. However, such operations align with Israel’s previous track record in similar situations. AP
Two days after the second round of explosions, Israel launched an air strike against Hezbollah targets in Lebanon. The attack killed at least 37 people including one of the militant group’s top commanders. Then, Lebanon fired back as escalations continue to rise. AP
🎯 Trump Assassination Attempt #2
Trump’s golf game was interrupted, but he is safe. The suspect, Routh, camped out for nearly 12 hours at the golf course before a Secret Service agent stopped him. Routh had a criminal past and was vocal about political issues on social media. With this being the second attempt on Trump’s life in less than two months, everyone is on edge during an already turbulent election cycle. AP
📉 Federal Reserve Cuts Interest Rates
The Federal Reserve cut interest rates by half a percentage point. This was slightly larger than most expected and was the first reduction of any kind since 2020.
Why does this matter? This lowers borrowing costs which could trickle down to lower interest rates for existing loans or debt. On the downside, interest rates on savings accounts or CDs might go down too, reducing returns for savers. While financial markets are expected to respond positively, analysts also warn economic challenges remain, and this rate cut alone may not resolve broader issues. WSJ
🇺🇸 U.S.
TikTok Fights U.S. Ban in Court - The app could be banned as soon as January 2025 due to concerns about national security because of China’s ties to the app. It’s not the only app like this though, it’s just one of the most prolific. So this case could influence future U.S.-China tech relations and how other foreign tech companies are treated in the U.S. The outcome of the case would also affect TikTok’s bottom line and millions of Americans that use it for entertainment or their own personal income. Reuters
Trump and Harris Find Common Ground - Both oppose the sale of U.S. Steel, one of America’s most historic corporations, to Japan’s Nippon Steel. They’re concerned about job losses and impacts on national defense, but union and local leaders are split on if it could benefit or harm the region. NBC News
Diddy Indicted on Federal Charges - Sean "Diddy" Combs was indicted this week on federal charges including racketeering and sex trafficking. The indictment follows a lengthy investigation into Diddy's business dealings and shocked the music industry. If convicted, Diddy could face significant time in prison. AP
🌎 World
Spy Kids - The children of Russian spies only discovered their true nationality during a flight to Moscow following a major prisoner swap between Russia and the West. The couple, who had been living as Argentinians in Slovenia, were arrested for espionage. On their return to Russia they met their president and then asked their parents who it had been. They did not even know who Putin was. BBC
Russia Profits from Stolen Ukrainian Grain - Russia sold nearly one billion dollars worth of stolen grain through an illegal network. This helps them cope with economic sanctions, with the total value of stolen grain possibly reaching up to $6.4 billion. WSJ
📺 Sports & Culture
WNBA Playoffs -The WNBA playoffs are in full swing, with top teams battling it out for a spot in the finals. The WNBA has been around since the 1990s but it’s been gaining more popularity lately and is up 183% in viewers since last season. PBS
Amazon, the TV Show - Amazon plans to introduce a new competition show in the style of “Shark Tank”. Winners will get $20,000 and the ability to sell their inventions on the “Buy It Now” store. WSJ
“Shōgun" Wins Big at the Emmys - The series "Shōgun" made history at the Emmy Awards this week with 18 wins. Hosted by dad and son duo Eugene and Dan Levy, the award ceremony also highlighted “Hacks” as best comedy. AP
Lego Star Wars Series - Lego Star Wars: Rebuild the Galaxy is now streaming on Disney+, bringing a new addition to the Star Wars universe.
🏎️ Fast Five
Instagram will begin restricting accounts for users under 18. The changes will introduce guardrails with the goal of keeping minors safe and healthy on the social media platform. ABC
Americans can now renew their passports online. AP
Amazon remote workers, among others will return as companies work to increase productivity. CBS
The Walt Disney Co. to stop using Salesforce-owned Slack after hack exposed company data. Reuters
FTC attempts to address concerns over artificially inflated insulin costs through a suit to the three biggest pharmacy benefit managers. CNBC
👍🏼 Ending with Good Vibes
Virginia high school students raised money to buy a Jeep Wrangler for their custodian’s birthday. USA Today
A man in Detroit was having a medical emergency while driving. That’s when a Detroit police officer leapt from their vehicle into the truck, which was still moving, to rescue the man behind the wheel. CBS
Have a great week!