Newsletter Sep 29, 2022

3 things you must know

Hurricane Ian devastates Florida, churns toward East Coast
Hurricane Ian plunged much of southwest and central Florida into darkness Wednesday, as the monster storm brought "catastrophic" storm surges, wind and flooding to the state. The National Hurricane Center said the eye of the Category 4 storm made landfall just after 3 p.m. ET on the barrier island of Cayo Costa, west of the city of Fort Myers. Ian weakened as it passed through central Florida and is expected to emerge in Atlantic Ocean before taking aim at the Georgia/South Carolina coast.
WHAT FORECASTERS ARE SAYING ABOUT IAN'S TRACK

US stocks rally following news of UK's bond rescue plan
U.S. stocks rallied Wednesday after England's central bank announced plans to buy government bonds to calm markets roiled by the country's recent tax cuts. The rally helped turn around a week of steady declines in markets concerned about inflation and recession. U.S. markets continued the selloff on Friday after the new British government announced a series of tax cuts that included breaks for corporations and new home buyers.
SEE WHAT ANALYSTS ARE PROJECTING FOR WALL STREET

Bad news for Nike as sneakerheads sitting on the sidelines
Sneakerheads are thinking twice before splurging on the newest set of kicks as the rising cost of living takes a toll on consumer spending in a double hit for Nike. At least eight brokerages have cut their price targets on Nike ahead of the company's first-quarter results on Thursday as inflation-hit U.S. consumers increasingly scrimp on discretionary items, adding more pressure on the athletic apparel maker that is reeling from a slowdown in China.
SEE HOW NIKE PLANS TO RISE ABOVE INFLATION WOES

Markets

DJIA	29,683.74	1.88%
S&P 500	3,719.04	1.97%
Nasdaq Composite	11,051.64	2.05%
Japan: Nikkei 225	26,347.68	0.66%
UK: FTSE 100	7,005.39	0.30%
Crude Oil Futures	81.75	-0.49%
Gold Futures	1,662.20	-0.47%
Yen	144.50	0.26%
Euro	0.97	-0.50%
* As of market close

Trump's legal team objects to property list

Lawyers for former President Donald Trump are resisting a federal judge's instruction to submit a sworn declaration on whether they believe the government's list of property taken from his Florida estate is accurate. According to a letter publicly filed by Trump's lawyers on Wednesday, the former president's legal team told Senior U.S. Judge Raymond Dearie that they don't believe the appointed special master has the authority to require them to make such a filing.

FIND OUT WHY TRUMP'S LEGAL TEAM WON'T SIGN OFF ON LIST

Russia poised to annex parts of Ukraine

Russia is poised to annex a swath of Ukraine within days, releasing what it called vote tallies showing overwhelming support in four provinces to join it, after what Ukraine and the West denounced as illegal sham referendums held at gunpoint. One Russian official said it could consider the incorporation of the four partially occupied regions on Oct. 4, three days before President Vladimir Putin's 70th birthday.

SEE WHAT UKRAINE IS SAYING ABOUT THE 'SHAM' ELECTIONS

New doc reveals the ugly side of 'Barney'

"Barney & Friends" promoted love and inclusion but a new documentary series about the show highlights the hatred it faced from people who were not eager to accept its positive message. The two-part Peacock docuseries "I Love You, You Hate Me" explores "the rise and fall of Barney the Dinosaur's furious backlash â€” and what it says about the human need to hate," according to the streaming service.

SEE SOME OF THE SHOCKING CHARGES IN THE DOCUMENTARY

Dino deal

What company owns the rights to the children's show "Barney & Friends" after buying the rights out of bankruptcy for how much money?

Wednesday's answer: Brothers Lars and Jens Rasmussen at Where 2 Technologies developed the program that became Google Maps after selling the company to Alphabet. Google Maps launched in 2005.