Newsletter Sep 9, 2022

3 things you must know

King Charles III to address a world mourning queen's death
King Charles III will address his new subjects Friday, as Britain was plunged into mourning by the death of Queen Elizabeth II, ending a history making 70-year reign. King Charles, 73, became monarch immediately after the death of his mother at her Scottish retreat on Thursday, sparking tributes at home and abroad. The new king is due to return to London from Balmoral, where the 96-year-old queen died "peacefully" after a year-long period of ill health and decline. Charles III is the longest-serving heir-apparent in British history since age 3, when his mother became queen.
READ THE TRIBUTES POURING IN TO QUEEN ELIZABETH

Stocks rally after Powell's speech calms inflationary fears
U.S. stocks rose Thursday for the second consecutive trading session, overcoming earlier losses in the day and after the European Central Bank said it would increase its key interest rate to 0.75% from zero. The modest climb added to Wednesday's gains as investors' inflation concerns eased after Federal Reserve officials reiterated the central bank's intentions to stifle inflation.
WHICH STOCKS WERE THE BIG WINNERS AND LOSERS?

Analysts: US may need 7.5% unemployment to curb inflation
Unemployment may need to reach as high as 7.5%, double its current level, to end the nation's high inflation, according to new study from the IMF. That would entail 6 million job losses, but the research found that only under "quite optimistic assumptions" about the behavior of the job market and inflation would the Fed be able to tame inflation with a smaller blow to employment.
HOW INFLATION AND UNEMPLOYMENT GO HAND-IN-HAND

Markets

DJIA	31,774.52	0.61%
S&P 500	4,006.18	0.66%
Nasdaq Composite	11,862.13	0.60%
Japan: Nikkei 225	28,219.70	0.55%
UK: FTSE 100	7,262.06	0.33%
Crude Oil Futures	83.67	0.16%
Gold Futures	1,731.00	0.63%
Yen	143.23	-0.61%
Euro	1.01	0.72%
* As of market close

Bannon charged with fraud in wall scheme

Former President Donald Trump's ex-advisor Steve Bannon was charged with fraud Thursday over a scheme that misappropriated millions of dollars donated for the construction of a wall between the U.S. and Mexico. Bannon, 68, and a nonprofit organization called We Build The Wall were charged with money laundering, conspiracy and fraud over what prosecutors said was a year-long fundraising scheme that netted more than $15 million from donors based on false promises.

WHY BANNON'S PRESIDENTIAL PARDON WON'T PROTECT HIM

Jeep going electric with four new models

From military staple to the green revolution, Jeep announced Thursday that it will be releasing four all-electric SUVS by 2025 as part of its "Freedom is Electric" campaign. The move comes as Netherlands-based Stellantis, which produces Jeep, Fiat and other vehicles, has committed to 100% of its European sales and 50% of U.S. sales to be electric by 2030. The new vehicles will be fully released by 2025.

JEEP'S NEW ELECTRIC MODELS WERE INSPIRED BY CLASSICS

Cereal killer? Kellogg's tries milk-free flakes

In what could be the most ingenious food innovation in years (or the worst idea since New Coke), Kellogg's introduced a new breakfast product Thursday called an "Instabowl," which looks like a single-serve cereal bowl, but it also contains milk powder. Instead of fresh milk, water is added and stirred as it rehydrates into instant milk and cereal just like the real thing -- allegedly -- but the proof is in the Froot Loops.

FIND OUT THE ONLY STORE SELLING THE 'INSTABOWL' CEREAL

Jeep speak

The name "Jeep" comes from a military term derived from what words?

Thursday's answer: The last NFL team to win consecutive Super Bowl titles is the New England Patriots, who went back-to-back in 2003-04.