Newsletter Aug 16, 2022

3 things you must know

DOJ opposes request to unseal affidavit in Trump search
The Justice Department on Monday said it opposes requests by the news media to unseal the affidavit that prosecutors used to obtain a federal judge's approval to search former President Donald Trump's Florida home. In a court filing, prosecutors said they will not oppose the release of other sealed documents, but that releasing the affidavit could harm the investigation. Trump's Republican allies have ramped up their calls to unseal the document, which would reveal the evidence used to demonstrate probable cause that crimes has been committed at Trump's home.
SEE WHICH DOCUMENTS WERE SEIZED IN THE SEARCH

Investors look to Walmart, Target earnings as key indicators
Walmart and Target kick off retail earnings this week, and what the two biggest retailers say about consumers will likely set the theme for the rest of the sector and offer clues about the health of the U.S. economy. A decline in gas prices in recent weeks has eased some pressure on lower-income shoppers, but inflation is still running at a four-decade high. That could keep the Fed on its rate-hike path, potentially tipping the economy into recession.
SEE WHAT ANALYSTS PREDICT FOR THE RETAIL GIANTS

Starbucks wants to pause employees' mail-in union election
Starbucks asked the National Labor Relations Board on Monday for a temporary nationwide pause on mail-in union elections The coffee giant alleges "improper conduct" by the regional NLRB office for allowing pro-union workers to vote at their office instead of by mail as planned. Starbucks alleges an NLRB employee who blew the whistle told the company about the alleged misconduct.
SEE STARBUCKS' OTHER CHARGES AGAINST THE NLRB

Markets

DJIA	33,912.44	0.45%
S&P 500	4,297.14	0.40%
Nasdaq Composite	13,128.05	0.62%
Japan: Nikkei 225	28,861.76	-0.03%
UK: FTSE 100	7,509.15	0.11%
Crude Oil Futures	88.91	-0.56%
Gold Futures	1,797.20	-0.05%
Yen	133.35	0.03%
Euro	1.02	0.08%
* As of market close

Twitter must turn over documents to Musk

Twitter must give Elon Musk documents from a former Twitter executive who the world's richest person claims was a key figure in calculating the amount of fake accounts on the platform, according to a Monday court order. Bot and spam accounts on Twitter have become a central issue in the legal fight over whether Musk must complete his $44 billion acquisition of the social media company. Twitter was ordered to collect, review and produce documents from ex-employee Kayvon Beykpour.

SEE WHY MUSK CLAIMS THE DOCUMENTS WILL MAKE HIS CASE

Musk pens op-ed for China cyberspace mag

Tesla CEO and SpaceX founder Elon Musk penned an op-ed in China's Cyberspace Administration's magazine, laying out his vision of a world "driven by the power of technology." In the essay titled "Believing in Technology for a Better Future," translated by Yang Liu in his substack, Beijing Channel, Musk sounds off about the evolution of technology in energy, medicine and space. He wrote that technological advancement "may one day surpass human understanding and control."

FIND OUT WHY MUSK'S OP-ED FOR CHINA UPSET SOME IN US

Most cruise ships overhaul COVID protocol

Want to shake the pandemic blues on a cruise? Now unvaccinated passengers are allowed to travel onboard seven major cruise lines with only a negative COVID test after recent policy changes made by the companies following the decision by the CDC to drop its COVID-19 Program for Cruise Ships. Unvaccinated passengers are no longer banned from traveling, as was the case during much of the pandemic.

SEE WHICH SEVEN CRUISE LINES HAVE WAIVED THE MANDATE

Maiden voyage

Name the US ship, year and destination of the first transatlantic cruise.

Monday's answer: Walnut Street Prison opened in 1773 in Philadelphia -- three years before and three blocks away from Independence Hall.