Newsletter Aug 30, 2022

3 things you must know

Investors deal with market volatility amid Fed's tightening
Traders in the U.S. equity options market appear to be betting that stocks, which has turned volatile following the Federal Reserve's warning on continued policy tightening, will remain choppy over at least the next couple of months. Fed Chair Jerome Powell warned on Friday that the U.S. central bank would raise rates as high as needed to restrict growth and keep them there "for some time" as it fights to control inflation. The volatility index, or VIX, was 0.33 points higher at 25.89, after rising to a more than six-week high.
WHAT THE VOLATILITY INDEX MEANS FOR WALL STREET

FTC files lawsuit against company selling smartphone data
U.S. regulators on Monday filed a lawsuit to stop data broker Kochava from selling smartphone location information that could help trace visits to "sensitive locations" like reproductive health clinics. The action by the Federal Trade Commission comes as privacy rights advocates fear that massive troves of information collected from people's smartphone or internet use could serve to track down women seeking abortion care or other privacy issues.
SEE HOW THE LAWSUIT COULD IMPACT DATA PRIVACY LAW

Rising energy costs could force UK pubs to issue last call
U.K. publicans have endured a tough few years, with a slump in business due to COVID lockdowns and inflation, but this "last call" could be the last straw. British pubs could be forced to close due to massive increases in energy prices. Six of the country's biggest pub and brewing firms are urging the government to step in as some pubs had seen a more than three-fold hike in bills this year.
SEE THE STEEP DROP IN THE NUMBER OF PUBS IN THE UK

Markets

DJIA	32,098.99	-0.57%
S&P 500	4,030.61	-0.67%
Nasdaq Composite	12,017.67	-1.02%
Japan: Nikkei 225	27,878.96	-2.66%
UK: FTSE 100	7,427.31	-0.70%
Crude Oil Futures	96.80	-0.22%
Gold Futures	1,749.80	0.01%
Yen	138.71	-0.01%
Euro	1.00	0.06%
* As of market close

Ukraine reclaims cities in counter-offensive

Ukraine said it broke through enemy lines in several places near the southern city of Kherson as it pressed a new campaign to retake territory while Moscow said Kyiv's counter-offensive had failed as Russia shelled the port city of Mykolaiv. Kyiv's move came after several weeks of relative stalemate in a six-month war that has killed thousands, displaced millions, destroyed cities and caused a global energy and food crisis amid unprecedented economic sanctions.

SEE HOW UKRAINE IS FACING A NUCLEAR THREAT INTERNALLY

Flooding could cost global economy $5.6T

As floodwaters swept through Mississippi and much of the South and Midwest, a new study showed that worsening droughts, storms and rain could cause $5.6 trillion in losses to GDP by 2050, including some of the world's largest economies. This year heavy rains have triggered floods that inundated cities in China and South Korea and disrupted water and electricity supply in India, while drought has put farmers' harvests at risk across Europe -- costing the global economy billions.

FIND OUT HOW MISSISSIPPI IS COPING AS STORM MOVES EAST

Las Vegas tops list of 'happiest' destinations

Finding your happy place just got a lot easier with the release of Club Med's "happiest" places in North America for 2022. Sin City once again offers the most happiness as Las Vegas topped the list, followed by New Orleans; Vancouver; San Francisco; and Washington, D.C. While those major cities are known for good times, there were a few surprise places on the list, like Halifax, Nova Scotia; and Nashville, Tennessee.

SEE THE HAPPIEST DESTINATIONS IN EUROPE AND THE WORLD

Safe bet

What was the first legal casino in the U.S.? What year and where?

Monday's answer: Hercules Posey, an enslaved African at George Washington's Mount Vernon, served as chief chef for the first president.