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Your Daily BriefSeptember 28th, 2022 |
Good morning, and happy Wednesday! Did you know that Kentucky has the most caves on the planet? The state’s Mammoth Cave spans nearly 400 miles in length, and scientists believe 200 more miles are still left to be discovered…which makes the cave system the largest in the world. There’s way more going on there than horse races and fried chicken! Anyway, before you plan your next spelunking adventure, here’s what we have for you:
In Today’s Brief
- Iran: Death toll from protests rises to at least 76
- Jan 6th: Hearing scheduled for tomorrow postponed due to Hurricane Ian
- The Try Guys: Comedy group cuts ties with founding member Ned Fulmer
- Wall Street: 11 banks to pay a collective $1.8B fine over record-keeping rules
- Hugh Jackman: Reprising the role of Wolverine in Deadpool 3
- Top Tips: Flows in Nord Stream 1 & 2 pipelines shut off after seismologists register explosions; U.S. housing prices fall for the first time since 2012; over 2.5M Floridians told to evacuate from Hurricane Ian
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Explosions registered in the Nord Stream 1 & 2 pipelines
Seismologists in Sweden, Denmark, Norway, and Finland registered two explosions before leaks were discovered on the Nord Stream 1 and 2 pipelines.
When speaking to reporters, Bjorn Lund, director of the Swedish National Seismic Network, said there was “no doubt these were explosions” and not earthquakes. Per Lund, one blast occurred early Monday in international waters southeast of the Danish island of Bornholm, and a second blast northeast of the island that night was equivalent to a magnitude-2.3 earthquake. The explosions prompted pipeline operator Nord Stream AG to shut down flows, and Nord Stream AG said it could not provide an estimate of when the pipelines’ working capability would be restored.
Capacity cuts in Nord Stream 1 and 2 pipelines–which run from Russia to Germany and deliver natural gas to the European Union–have contributed to rising energy prices in Europe following Russia's invasion of Ukraine that began in February.
Home prices in the United States fall for the first time in a decade
The prices of homes in the United States have fallen for the first time in over a decade, according to data released yesterday.
According to the S&P CoreLogic Case-Shiller index, the national measure of prices in 20 cities such as Atlanta, Chicago, Los Angeles, New York City, Phoenix, Seattle, and others dropped by 0.44% in July. The decrease marks the first drop in U.S. home prices since March 2012 and shows that prices cooled in July at the fastest rate in the history of the index, which “measures the value of residential real estate in 20 major U.S. metropolitan areas.”
The decrease in home prices comes amid a months-long rise in mortgage rates. The average rate on the 30-year fixed mortgage started 2022 at around 3%, and by June, it had surpassed 6%. It fell in July to remain in the high 5% range, and according to Forbes, it now sits at 6.85%.
2.5M people in Florida are told to evacuate as Hurricane Ian approaches
As Hurricane Ian heads north from Cuba as a Category 3 storm, nearly 2.5M individuals in Florida were placed under evacuation orders yesterday, whether voluntary or mandatory.
According to a forecast from the National Hurricane Center, the area south of Tampa near Sarasota was the likeliest place for Hurricane Ian’s eye to come ashore, though the center added that it was too early to be certain. In preparation for Ian’s arrival, the St. Petersburg-Clearwater International Airport ceased operations yesterday at 1 PM ET, and the Tampa International Airport shut down at 5 PM ET. While the Orlando International Airport–located on Florida’s eastern side–has no plans to close, officials said they are monitoring the storm.
A Category 3 storm–which Ian grew into yesterday–features maximum sustained winds of up to 129 mph. Of the 2.5M total Floridians under evacuation orders, over 1.75M of those were under mandatory orders.
Around the Globe
- After making landfall at 4:30AM ET yesterday, Hurricane Ian knocked out power to the entire country of Cuba; forecasters expect it to strengthen into a Category 4 before it hits the southwest coast of Florida tomorrow
- The death toll from unrest in Iran sparked by the death of 22-year-old Mahsa Amini that occurred while she was in police custody has risen to at least 76, according to activists
- Saudi Arabian King Salman bin Abdulaziz named his eldest son Prince Mohammed bin Salman as Prime Minister and his second son Prince Khalid as Defense Minister, per a royal decree
On the Homefront
- The January 6th committee postponed its hearing originally scheduled for today, citing Hurricane Ian’s approach toward Florida
- All 50 states received final approval to begin construction on a nationwide network of electric-vehicle charging stations that will place one about every 50 miles along interstate highways
- The trial began in Washington, D.C. for several members of the Oath Keepers–including founder Stewart Rhodes, Kelly Meggs, Thomas Caldwell, Jessica Watkins, and Kenneth Harrelson–who are being tried on charges including seditious conspiracy over their role in events at the U.S. Capitol building on January 6th, 2021
Glitz & Games
- Phil Mickelson and three other golfers (Talor Gooch, Ian Poulter, and Hudson Swafford) have dropped out of an antitrust lawsuit against the PGA Tour, according to court documents filed yesterday
- A Spanish judge approved a trial for Shakira on tax fraud charges; Spanish prosecutors accused the singer in 2018 of failing to pay 14.5M euros (~$13.9M) in taxes on income earned between 2012-2014 and are seeking an eight-year prison sentence along with a fine
- The comedy group The Try Guys have confirmed they are no longer working with founding member Ned Fulmer amid allegations of misconduct, according to a tweet posted yesterday by the group
Business & Markets
- Major indexes in the stock market ended mixed after beginning yesterday’s trading session in positive territory (Dow -0.43%, Nasdaq +0.25%, S&P 500 -0.21%)
- Jens Walter, who was named co-head of global banking at Credit Suisse in January, will leave the bank to co-head Citigroup’s investment banking unit in Europe starting in December
- Eleven Wall Street institutions including Bank of America, Barclays, Citigroup, Goldman Sachs, Morgan Stanley, and others will collectively pay $1.8B in fines to settle an investigation over their employees’ use of messaging applications that broke record-keeping rules, according to regulators
Tip & Tricks
- Binge Watch: Check out the official trailer for Netflix’s upcoming series The Playlist, which loosely tells the story of how Spotify was created (or how it wasn’t created, depending on how you interpret those last few seconds)
- Bump This: We’re all about The 1975 lately, and we can’t get enough of their new downtempo song “All I Need to Hear” - listen on Apple Music and Spotify
- Chow Down: Time to ditch the charcuterie board for your next dinner party, because butter boards are all the rage now–they’re simple to make, typically meat-free, and allow for limitless variations
- Nerd Out: Check out this video of 50-foot ocean swells and 100 mph winds that the National Oceanic and Atmospheric Administration captured by sending a drone into Hurricane Fiona
- Say What: “I’d work with Lizzie for another 100 years if we could. Anything’s possible in the multiverse! We’ll have to see,” Marvel Studios President Kevin Feige said regarding Elizabeth Olsen potentially returning to the Marvel Cinematic Universe as Wanda Maximoff aka the Scarlet Witch
- Hot Goss: Ryan Reynolds announced in a teaser video that frenemy Hugh Jackman will be clawing his way back into the character Wolverine in the upcoming film Deadpool 3
- Life Hack: Jotting down your thoughts can be an effective way to manage anxiety, lower stress, and reflect - check out these five benefits of journaling for your mental health
Looking Back…
On September 28th: Eight members of the Chicago White Sox are indicted by a grand jury on charges that they threw the 1919 World Series to the Cincinnati Reds in return for a bribe (1920); the Beatles' single “Hey Jude” goes #1 (1968); SpaceX becomes the first private company to send a liquid-fueled rocket into orbit by launching Falcon 1 (2008); French actress Brigitte Bardot is born (1934).
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