Newsletter Aug 11, 2022

3 things you must know

Inflation's slight drop in July takes pressure off Fed, Biden
US inflation eased slightly in July, new data showed Wednesday, taking pressure off the Federal Reserve to hike interest rates sharply while bringing a much-needed boost to President Joe Biden before the midterm elections. With energy costs dropping in recent weeks, the CPI dipped to an annual rate of 8.5% last month, the Labor Department reported. Fueled by aggressive consumer spending of pandemic savings, global supply chain snarls, domestic worker shortages and Russia's war on Ukraine, the CPI had soared 9.1% on-year in June, the highest in 40 years.
FIND OUT WHAT'S FUELING THE ABOUT-FACE IN INFLATION

Disney+ surpasses Netflix in subscribers, offers ad version
Walt Disney Co edged past Netflix Inc with a total of 221 million streaming subscribers at the end of the most recent quarter and announced it will launch a Disney+ option with advertising this December. Disney+ with ads will cost $7.99 per month, the same price the company now charges for the ad-free version, which will increase to $10.99 as of Dec. 8. Prices for Hulu, also owned by Disney, will rise by $1 to $2 per month depending on the plan.
SEE HOW DISNEY CLOSED THE GAP TO SURPASS NETFLIX

DOJ readying to file second antitrust lawsuit against Google
The Department of Justice is preparing to file a second antitrust lawsuit against Google for its dominance in the digital ad market, a report revealed. The potential lawsuit, which could be filed as early as September, will target Google's command in the digital ad market following "years of work" by lawyers that should unravel more details about the internet giant's dominance, the report said.
SEE WHAT'S AT STAKE IN A POSSIBLE ANTITRUST LAWSUIT

Markets

DJIA	33,309.51	1.63%
S&P 500	4,210.24	2.13%
Nasdaq Composite	12,854.80	2.89%
Japan: Nikkei 225	27,819.33	-0.65%
UK: FTSE 100	7,507.11	0.25%
Crude Oil Futures	91.56	-0.40%
Gold Futures	1,803.00	-0.59%
Yen	133.17	0.21%
Euro	1.03	-0.13%
* As of market close

Trump takes the fifth as legal woes mount

Former President Donald Trump took the fifth on Wednesday in a New York investigation by the state's attorney general into his family's business practices. New York State Attorney General Letitia James is conducting a civil investigation into whether the Trump Organization inflated real estate values. The decision to remain silent to avoid self-incrimination comes two days after the FBI searched Trump's Florida estate for illegally removed classified records from the White House.

SEE THE MOUNTING LEGAL CHALLENGES TRUMP IS FACING

Musk teases social platform to rival Twitter

Elon Musk may be at loggerheads with Donald Trump, but it looks like he might be taking a page out of the ex-president's book by subtly mentioning plans to launch his own social media platform. Musk is currently battling a lawsuit from Twitter after backing out from the highly publicized buyout deal. Musk made the revelation Tuesday on Twitter after being asked if there was a plan in the works. There was also news that his legal team plans to question Twitter workers who handle bots.

SEE MUSK'S PLANS TO LAUNCH HIS OWN SOCIAL MEDIA SITE

Does Coke's new flavor taste like a 'dream'?

Soft drink giant Coca-Cola announced on Wednesday that it is adding a fourth drink to its Coca-Cola Creations line -- a beverage called "Dreamworld." The new flavor is said to taste like "dreams," which correlates with the rest of the Coca-Cola Creations flavors that are meant to taste like something unlike customers have ever tasted before. The soda will be available for a limited time starting on Aug. 15.

COKE IS GETTING CREATIVE IN EFFORT TO INCREASE SALES

Unreal thing

Name the only two nations in the world where citizens can't get a Coke.

Wednesday's answer: Serena Williams' 23 Grand Slam singles titles is second only to Margaret Court's 24. Rafael Nadal leads males with 22.