Newsletter Nov 30, 2023

Quick Six

Families welcome hostages while holding out hope for others
Four-year-old hostage Abigail Edan is back after seven weeks of captivity, as relatives stressed they will not rest until everyone held by Hamas is freed. The young girl, whose parents were murdered in front of her on a kibbutz near Gaza as militants stormed Israel on October 7, is the first confirmed US citizen to have been freed by Hamas among the 60 hostages released during the truce. Families of hostages were in Washington to shine a spotlight on the more than 150 people who still remain in captivity in Gaza, a sum believed to include nine other Americans.
WHAT THE US IS DOING TO SECURE HOSTAGES' RELEASE

Federal Reserve finds signs of slowing economic activity
US economic activity has slowed in recent weeks and the labor market has continued to cool, the Federal Reserve announced Wednesday, as it continues its fight against stubborn inflation. Cutting inflation while avoiding an economic downturn, commonly known as a "soft landing," is challenging, but the latest update from the US central bank suggests it could be on track.
WHY FED OFFICIALS BELIEVE RECOVERY IS ON TARGET

Third-quarter GDP revised upward to annual rate of 5.2%
The U.S. economy expanded in the third quarter at a pace that was stronger than initially estimated. Gross domestic product grew at an annual rate of 5.2% from July through September, the Commerce Department said Wednesday. The first estimate showed to 4.9% growth. The revised expansion rate is the fastest since the fourth quarter of 2021, when the economy grew 7%.
THE REACTION OF ECONOMISTS ABOUT THE REVISIONS

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Markets

DJIA	35,430.42	0.04%
S&P 500	4,550.58	-0.09%
Nasdaq Composite	14,258.49	-0.16%
Japan: Nikkei 225	33,321.22	-0.26%
UK: FTSE 100	7,423.46	-0.43%
Crude Oil Futures	77.70	-0.21%
Gold Futures	2,064.70	-0.12%
Yen	147.02	-0.14%
Euro	1.10	0.04%
* As of market close

US life expectancy rises as Covid deaths fall

Americans gained 1.1 years of life expectancy in 2022 after Covid became a less lethal disease, the Centers for Disease Control and Prevention said Wednesday. The increase to an average maximum age of 77.5 years doesn't compensate for the loss of 2.4 years from 2019 to 2021. Life expectancy for women increased to 80.2 years in 2022 and, for men, to 74.8 years. There was a gain for both, although the increase of 1.3 years for men was higher than the 0.9 year for women.

WHY THE GAP HAS CLOSED BETWEEN GENDERS AND RACES

Insurance titans Cigna, Humana talk merger

Health insurance companies Cigna and Humana are in talks for a merger that could create a major player in the industry, according to media reports, citing people familiar with the deal. The cash-and-stock deal could be finished by the end of the year. Cigna shares fell more than 4% after the news, while Humana saw small changes. The deal would give them scale to compete with UnitedHealth and CVS Health.

SEE THE DETAILS BEHIND THE POTENTIAL INDUSTRY SHAKEUP

Mark Cuban selling majority stake in Mavs

Billionaire investor Mark Cuban is selling a majority stake in his pro basketball team, the NBA's Dallas Mavericks, to Miriam Adelson and her family, according to media reports, citing people familiar with the deal. The team will be valued in the range of $3.5 billion in the deal, the sports website said. Cuban, who bought the Mavs in 2000 for $285 million, will keep a stake in the team and be in charge of operations.

SEE HOW ADELSON GOT THE $2 BILLION TO BUY THE MAVS

Extra point

What is the largest sum ever paid for a professional sports franchise?

Wednesday's answer: The last member of the House to be expelled was Jim Traficant (D-Ohio) in 2002 for bribery, racketeering and other charges.

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