Newsletter May 21, 2021

A ceasefire was finally brokered between Israel and Hamas after 11 days of intense bombings, but now comes the hard part -- finding lasting peace.

3 Things
  • Fragile truce: For the first time in 11 days, the Gaza Strip fell silent Thursday night amid prayers on both sides that the uneasy peace holds. At least from a historical perspective, the chances are unlikely.

    Israel and Hamas, the group representing the Palestinian people, agreed to stop the bombings that have left the Middle East shell-shocked since the latest outbreak of violence between the two. The brokered ceasefire is contingent on both sides honoring the deal.

    The unconditional truce came after President Joe Biden turned up the heat on Israel to stop its aggressive actions. He called on the Jewish State for "significant de-escalation" to lead the way for peace.

    More than 260 Palestinians have died and over 70,000 are homeless. Twelve Israelis have died amid intense rocket attacks, a number surely reduced due to Israel's Iron Dome defense system.

    "I believe we have a genuine opportunity to make progress and I'm committed to working toward it," Biden said shortly after the truce was announced, hailing Egypt's role in brokering the agreement.

    Until then, the world will hold its breath and hope for the best.

    FIND OUT WHAT'S NEXT IN BROKERING A LASTING PEACE

  • 45 vs. 35: Former President Donald Trump called out the 35 House Republicans who voted in favor of an investigation into the Jan. 6 riot on Capitol Hill by his supporters, saying "The voters understand."

    “See, 35 wayward Republicans — they just can’t help themselves," Trump said in a statement. "We have much better policy and are much better for the Country, but the Democrats stick together, the Republicans don’t,... They don’t have the Romney’s, little Ben Sasse’s, and Cheney’s of the world. Unfortunately, we do. Sometimes there are consequences to being ineffective and weak.” 

    It wasn't the first time Trump has called out GOP lawmakers for not backing his agenda, threatening to primary Republicans with a candidate that backs the MAGA platform. Now the decision to form a bipartisan commission to investigate Jan. 6 lies in the Senate, where Minority Leader Mitch McConnell has taken a stand with Trump.

    FIND OUT HOW THE SENATE WILL LIKELY VOTE ON THE ISSUE

  • Bad bet: Trump ally and Florida Gov. Ron DeSantis is backing a bill that could help the former president get back in the casino business.

    The provision would prevent the Seminole Tribe from interfering if the state issues a gambling license to a facility that is more than 15 miles “in a straight line” from the tribe’s Hard Rock Hotel & Casino  in Hollywood. Trump’s Doral golf resort, located slightly more than 15 miles away from the tribe’s hotel, has recently undergone a $250 million renovation project to host casino gaming and a sports book.

    Eric Trump, son of the former president and the executive vice president of the Trump Organization, has hinted at a casino at Doral: “Many people consider Trump Doral to be unmatched from a gaming perspective — at 700 acres, properties just don’t exist of that size and quality in South Florida, let alone in the heart of Miami,” he said.

    The elder Trump's last attempt at the gambling game was a massive failure as his Trump Casino in Atlantic City, N.J., filed for bankruptcy.

    FIND OUT TRUMP'S PLAN TO GET BACK IN THE CASINO GAME

Markets
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Japan: Nikkei 225 28,317.83 0.78%
UK: FTSE 100 7,018.11 -0.02%
Crude Oil Futures 63.35 2.28%
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Euro 1.22 -0.27%
* As of market close

Millionaires on paper

The COVID pandemic has had some devastating effects on millions of Americans dealing with unemployment, homelessness and health issues. But for those who have been watching their retirement funds boom during a surprisingly strong stock market performance, there is a silver lining.

According to Fidelity, the largest purveyor of 401(k) savings accounts, more than 365,000 clients now have over $1 million in their funds, a new record that is more than double last year's total. The number of IRA accounts exceeding $1 million balances also set a record at 307,600.

“These are people making it a goal to do as much as possible with these retirement accounts,” Jessica Macdonald, a vice president at Fidelity Investments, said. “It’s not something that happens overnight, it’s really an example of staying the course and taking a long-term approach.”

The trend also reflects the disparity between how Americans have been impacted by the pandemic. While many relied on government assistance to get through the year-plus shutdowns in some segments of the  economy, others have fared well enough to put some aside for the future.

SEE HOW THE STOCK MARKET HAS BEEN GOOD TO SAVERS


Oh Snap!

There was a time when Snapchat was the sort of low-key alternative to more established social media sites like Facebook, Twitter and Instagram. Thanks to growth and global expansion, all the cool kids are using it.

In announcing yet another expansion with new partnerships and features, Snapchat also dropped some more insight into the emerging platform's success. It now has more than a half-billion active users around the world.

"We now reach over 500 million monthly active users, and nearly one of every two smartphone users in the United States is on Snapchat," said CEO Evan Spiegel, adding the latest growth is coming from Asia. "Our community outside of North America and Europe is growing rapidly," 

Spiegel credits pandemic lockdowns for the increases in users looking to connect virtually, but also points to Snapchat's aggressive expansion of services. Originally developed to offer disappearing messages, Snapchat now features games, news, entertainment and augmented reality.

CHECK OUT SNAPCHAT'S NEW PARTNERSHIP WITH DISCOVERY


Cat crusaders

In the never-ending saga surrounding the smash-hit series "Tiger Kings," the federal government seized 68 big cats from the park formerly owned by Joe Exotic for repeated violations against the Endangered Species Act.

The Oklahoma park, now owned by "Tiger Kings" co-stars Jeffrey and Lauren Lowe, was cited for multiple violations of sub-par conditions for the cats, which include tigers, lions, ligers (lion-tiger hybrids) and one jaguar.

"This seizure should send a clear message that the Justice Department takes alleged harm to captive-bred animals protected under the [ESA]  very seriously," said Acting Assistant Attorney General Jean Williams.

Meanwhile, Joe Exotic continues to serve his 22-year prison sentence for conspiring to have rival cat-keeper Carole Baskins murdered. His appeals for a presidential pardon have fallen on deaf ears as he suffers the ironic fate of being locked up just like the animals he kept in captivity for years.

FIND OUT WHAT WILL HAPPEN TO THE RESCUED BIG CATS


Paws for the cause

Big cats get all the headlines, but one pint-sized feline gained fame for being the smallest cat on record. What was the cat's name and breed?

Thursday's answer: Although many claim to be the creator of the corn dog, the name on the patent belongs to Sylvia Schur of Buffalo, N.Y.

SEND YOUR ANSWER HERE TO SHOW OFF YOUR KNOWLEDGE

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