Newsletter Sep 29, 2023

Quick Six

US government on a crash course with imminent shutdown
The US government has begun to inform workers of an impending shutdown that could see federal employees and military personnel sent home or working without pay, unless Congress reaches a last-ditch deal. Funding for much of the federal government is set to expire at midnight Saturday, threatening disruptions ranging from air travel to some benefit payments, and -- if the shutdown endures -- dealing a further blow to the precarious US economy. The stand-off has been triggered by a small group of hard-line Republicans who are refusing to cut short-term funding deals.
WILL ONE SIDE BLINK, OR WILL THE GOVERNMENT CLOSE?

Pending home sales decrease again as mortgage rates rise
Pending sales of homes in the U.S. dropped 7.1% in August as buyers delay purchases due to high mortgage rates. The index that follows the number of contracts signed before a home sale is closed fell to 71.8 in August from 77.3 in July, the National Association of Realtors said. The index fell 19% from a year earlier. All four U.S. regions showed a drop in pending sales.
SEE THE LATEST MORTGAGE RATES AND THEIR IMPACT

Fortnite cutting staff as Epic Games battles Apple, Google
Fortnite employees are starting to fall like its players. Epic Games, maker of the highly popular Fortnite video game, said Thursday it is cutting its workforce to save money but will continue spending on its legal battle over Apple and Google app stores. Epic is laying off about 16% of its employees, roughly 830 workers.
APPLE, GOOGLE LAWSUITS ARE COSTING EPIC GAMES

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Markets

DJIA	33,666.34	0.35%
S&P 500	4,299.70	0.59%
Nasdaq Composite	13,201.28	0.83%
Japan: Nikkei 225	31,872.52	-1.54%
UK: FTSE 100	7,601.85	0.11%
Crude Oil Futures	91.80	-2.01%
Gold Futures	1,881.70	-0.49%
Yen	149.29	-0.01%
Euro	1.06	0.00%
* As of market close

Musk slashes X's election integrity team

X-owner Elon Musk said that he had gutted the platform's team dedicated to preserving election integrity as key votes in many countries are approaching. X, formerly known as Twitter, is cutting half of its global team dedicated to monitoring and limiting disinformation and fraud around major elections, Musk said. There are more than 50 major elections expected around the world next year, including the US presidential election, but also in India, Africa and the European Union.

SEE MUSK'S SARCASTIC ANNOUNCEMENT ABOUT THE MOVE

GOP launches Biden impeachment inquiry

Republicans launched impeachment inquiry hearings into Joe Biden on Thursday, escalating an eight-month corruption investigation that has failed to uncover evidence of wrongdoing by the president and his son, Hunter. The Biden administration has dismissed the effort as a "stunt," accusing Republicans of trying to distract voters, days ahead of a looming government shutdown sparked by far-right lawmakers.

SEE WHY IMPEACHMENT INQUIRY IS BEING CALLED A 'STUNT'

Teen arrested for felling 'Robin Hood' tree

A 16-year-old boy was arrested on Thursday after one of Britain's most photographed trees was found felled in Northumberland National Park, prompting outrage and grief. The Sycamore Gap tree, which stood for over 200 years, became internationally famous when it was used for a scene in the 1991 blockbuster film "Robin Hood: Prince of Thieves".

FIND OUT HOW AUTHORITIES TRACKED DOWN THE SUSPECT

Extra point

What is the world's oldest still-living tree? How old is it, and where is it?

Thursday's answer: NBC's "Tonight Show" starring Steve Allen debuted on Sept. 27, 1954, launching the new trend of late-night TV talk shows.

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