Newsletter Mar 26, 2024

Quick Six

Trump granted reprieve on amount, deadline of bond in NYC
Former President Donald Trump was granted a reprieve by a New York appellate court, which ruled that he can post a lower bond of $175 million to cover a $464 million civil fraud judgment against him. The decision comes as relief for Trump, who had expressed concerns about having to sell assets at reduced prices to meet the original bond requirement. The court also extended the enforcement delay of the $464 million judgment to 10 days.
SEE WHY TRUMP'S LEGAL TEAM IS HAPPY WITH RULING

Boeing CEO Calhoun resigns under pressure amid failures
Boeing CEO David Calhoun announced his resignation in the wake of a series of hazardous jet failures, plunging the aviation giant into turmoil. This decision follows escalating concerns over safety and management within the company. Stepping into the CEO role is COO Stephanie Pope, signaling a shift in leadership. The developments come following a string of safety incidents.
SEE HOW BOEING PLANS TO CHANGE ITS WORK CULTURE

US new home sales see an unexpected decrease in February
US new home sales ticked down in February after January's rate was revised higher. New single-family home sales were at an annual rate of 662,000 last month, seasonally adjusted, 0.3% down from the revised 664,000 figure for January. The median sales price of new properties sold was $400,500. The drop comes as mortgage rates remain at a higher level than in recent years.
WHY THE HOUSING MARKET MAY BE LAST TO RECOVER

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Markets

DJIA	39,313.64	-0.41%
S&P 500	5,218.19	-0.31%
Nasdaq Composite	16,384.47	-0.27%
Japan: Nikkei 225	40,414.12	-1.16%
UK: FTSE 100	7,917.57	-0.17%
Crude Oil Futures	81.99	1.69%
Gold Futures	2,173.00	0.60%
Yen	151.41	0.00%
Euro	1.08	0.00%
* As of market close

UN votes for ceasefire in Gaza, US abstains

The UN Security Council for the first time Monday demanded an immediate ceasefire in Gaza after the US, Israel's ally which vetoed previous drafts, abstained. Drawing applause in the normally staid Security Council, all 14 other members voted in favor of the resolution which "demands an immediate ceasefire" for the ongoing Islamic holy month of Ramadan. The resolution calls for a "lasting, sustainable ceasefire" and demands that Hamas free hostages seized in their October 7 attack that triggered the massive Israeli military campaign.

WHY ISRAEL IS ANGRY WITH THE US OVER FAILURE TO VETO

EU probes tech giants under new digital law

The EU on Monday hit Apple, Google parent Alphabet and Meta with the first ever probes under a mammoth digital law, which could lead to big fines against the US giants. Since March 7, six of the world's biggest tech companies -- Alphabet, Amazon, Apple, TikTok owner ByteDance, Meta and Microsoft -- have had to comply with the EU's landmark DMA after being named so-called "gatekeepers".

HOW THE EU PLANS TO ENFORCE THE DIGITAL MARKETS ACT

Student debt becoming an issue for retirees

In recent years, the intersection of student loan debt and retirement security has become an increasingly pressing issue for millions of older Americans. With outstanding student debt among seniors reaching unprecedented levels, concerns are mounting about the potential impact on Social Security benefits, a critical lifeline for many retirees.

WHY MORE RETIREES ARE STILL DEALING WITH STUDENT DEBT

Extra point

Name the first American to collect Social Security. How much was it?

Monday's answer: The US, USSR, China, India and Japan are the only nations to land craft on the Moon. Only the US has landed humans.

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