Newsletter Nov 22, 2023

Quick Six

Israel, Hamas reach deal on four-day truce, hostage release
Israel and Hamas agreed to a four-day truce that would see the Palestinian group release dozens of hostages taken on October 7, both sides announced Wednesday. Israeli Prime Minister Benjamin Netanyahu's cabinet approved the accord after a near-all-night meeting, in which he told reticent ministers this was a "difficult decision but it's a right decision." At least 50 Israeli and foreign hostages would be released -- women and children -- in return for a four-day "lull" in military operations.
FIND OUT HOW THE AGREEMENT WAS FINALLY REACHED

Fed expects interest rates to remain elevated 'for some time'
The Federal Reserve's rate-setting committee judged earlier this month that it would be appropriate to keep interest rates high "for some time" in order to make a soft landing, the meeting's minutes showed. The Fed looks to bring inflation firmly down to its long-term target of 2%. The move raised traders' expectations that it is done hiking interest rates and is moving into a prolonged pause.
FED VOWS TO PROCEED 'CAREFULLY' ON INTEREST RATES

Existing home sales slow to their lowest level in 13 years
Sales of existing homes in the US slipped more than anticipated in October to a new 13-year low, according to industry data released Tuesday, on stubbornly low inventory and high mortgage rates. Existing home sales fell last month by 4.1% to an annual rate of 3.79 million, seasonally adjusted. The rate was slowest since August 2010, and compared with a year ago, down 14.6%.
WHICH REGIONS OF THE US SAW THE BIGGEST DROPS?

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Markets

DJIA	35,088.29	-0.18%
S&P 500	4,538.19	-0.20%
Nasdaq Composite	14,199.98	-0.59%
Japan: Nikkei 225	33,560.01	0.62%
UK: FTSE 100	7,481.99	-0.19%
Crude Oil Futures	77.56	-0.27%
Gold Futures	1,998.40	-0.16%
Yen	148.16	-0.16%
Euro	1.09	0.03%
* As of market close

The twists and turns of OpenAI's meltdown

Silicon Valley star Sam Altman was suddenly ousted from the top spot at OpenAI as it led the race to artificial intelligence, only for the tech guru to be scooped up by Microsoft. The tech giant has been an OpenAI partner for seven years, pouring billions into the startup and weaving its innovations into Microsoft products. Here's a look at the sequence of events in the ongoing saga that has the future of OpenAI in doubt, even as the technology it champions is poised to flourish.

BEHIND THE SCENES OF OPENAI'S BIZARRE RISE AND UNDOING

Binance CEO Zhao to resign, pay fine to DOJ

Binance Founder and Chief Executive Officer Changpeng Zhao agreed to step down from his post and admit to violating U.S. laws and as part of a settlement with the US Department of Justice and other authorities to close a probe into the practices of the world's largest cryptocurrency exchange. The company, which had been under investigation by US authorities for years, agreed to $4.3 billion in penalties after it was accused of violating finance and money-laundering laws.

SEE THE DOJ'S EFFORT TO CLEAN UP CRYPTO EXCHANGES

Biden joins Threads as Musk's X under fire

President Joe Biden on Monday joined Threads, Meta's social media rival to Elon Musk's X, just days after the White House blasted the tech baron for pushing anti-Semitism. Mark Zuckerberg's Meta, the home of Facebook and Instagram, launched Threads in July in a bid to depose Musk's X, then known as Twitter, as the go-to platform for celebrities, companies and governments to make public statements.

BIDEN'S FIRST POST ON THREADS TAKES A SHOT AT MUSK

Extra point

Only six people have over 100 million followers on X. Name four of them.

Tuesday's answer: Global average temperatures have increased more than 1.4 degrees Fahrenheit over the last 100 years.

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