Newsletter Jan 13, 2023

3 things you must know

Inflation sees its biggest drop since early days of pandemic
Inflation continued its gradual descent in December, providing comfort for families and policymakers as consumer prices posted their biggest monthly drop since the early days of the pandemic. The Consumer Price Index fell 0.1% in December, which was within estimates and the largest month-over-month decrease since April 2020. The annual inflation rate was the slowest since October 2021, largely due to decreases in airfare and gas prices.
HOW THE NEW DATA COULD IMPACT THE FED'S POLICIES

New pilot contracts to drive up the cost of air travel in 2023
U.S. airline profits are set to come under pressure in 2023 as they shell out more cash to retain pilots amid worries about the impact of a potential recession on travel demand. Major airlines such as United, American, Delta and Southwest have rushed to add staff after a faster-than-expected rebound in the U.S. travel market, but some airlines have had to hand out bumper contracts to pilots.
SEE HOW MUCH AIR TRAVEL IS PROJECTED TO INCREASE

Exxon scientists knew risk of global warning in the 1970s
Exxon's climate science research from the 1970s accurately predicted the pace and severity of global warming, despite the company's decades-long effort to dismiss the science, a new study shows. Internal documents reveal Exxon misled the public about the risks of global warming. The study estimates between 63% and 83% of Exxon's climate projections were accurate.
COULD THE STUDY LEAD TO ENVIRONMENTAL LAWSUITS?

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Markets

DJIA	34,189.97	0.64%
S&P 500	3,983.17	0.34%
Nasdaq Composite	11,001.10	0.64%
Japan: Nikkei 225	26,129.97	-1.21%
UK: FTSE 100	7,794.04	0.89%
Crude Oil Futures	78.22	-0.22%
Gold Futures	1,901.10	0.12%
Yen	128.94	-0.28%
Euro	1.09	0.03%
* As of market close

Special counsel named in Biden docs case

U.S. Attorney General Merrick Garland on Thursday announced the appointment of a special counsel to investigate President Joe Biden's handling of classified government documents - an inquiry that could cast a shadow over the Democrat's expected run for re-election in 2024. The announcement came after Biden's legal team found a second set of classified papers from his time as vice president at a storage space at his Delaware home. Garland said Robert Hur, a former U.S. attorney in Maryland, would serve as special counsel.

THE DIFFERENCES BETWEEN THE BIDEN AND TRUMP CASES

Santos' resume reads like a work of fiction

A resume submitted by disgraced Rep. George Santos to the Nassau County Republican Committee in 2020 details for the first time the extent of his outlandish lies surrounding his employment history and education. The resume offers precise specificity to the litany of lies that have led Santos to be publicly chastised by members throughout his party, and even his New York colleagues, as his comes under fire.

SANTOS BEING INVESTIGATED FOR CAMPAIGN FUNDS MISUSE

Prince Harry's 'Spare' crushes sales record

Prince Harry's memoir sold a "record" 1.4 million copies in just 24 hours, its publisher said on Thursday, as his father and brother kept calm and carried on with public visits. Sales of "Spare" hit 1.4 million English-language copies on its first day in the UK, U.S. and Canada, smashing Penguin Random House's sales record. The news come as the first opinion poll since publication showed his popularity in the UK nosediving following a string of controversial promotional interviews.

BOOKSTORE GOES VIRAL FOR CURIOUS SHELF PLACEMENT

'Spare' time

Whose record did Prince Harry break for most book sales in 24 hours?

Thursday's answer: Harriet Lane, the niece of bachelor James Buchanan, was the only official first lady not married to the president.

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