Newsletter Sep 18, 2024

Quick Six

Federal Reserve ready to announce key rate decision today
The Federal Reserve began a two-day interest rate discussion on Tuesday that is all-but-certain to end with its first cut since March 2020, as inflation continues to ease. The Fed's rate decision will come at 2 p.m. ET today as policymakers debate between a small cut of a quarter of a percentage point, or an aggressive half-point reduction to the Fed's benchmark lending rate. The Fed goes into the meeting in an enviable position, with inflation easing towards its long-term target of 2%, and a resilient-yet-cooling labor market.
SEE WHAT ANALYSTS EXPECT FROM THE FED'S DECISION

US retail sales beat expectations in August as inflation cools
Consumer spending remained strong in August as US retail sales beat expectations ahead of the Federal Reserve's reduction in interest rates. Retail sales showed a 0.1% rise in August, largely due to online sales, according to Commerce Department Census Bureau data. But the slight rise comes against a prediction of a 0.2% decrease, per data from Bloomberg News -- a surprising surge before the Federal Reserve's anticipated interest rate cut.
US CONSUMER SENTIMENT STRONG DESPITE INFLATION

Tupperware out of fresh ideas to avoid filing for bankruptcy
Tupperware, the company that billed itself as a "fresh idea" to American consumers for nearly 80 years, finally appears to be approaching its expiration date. Tupperware plans to file for bankruptcy this week following a failed effort to keep the storage-container business afloat. The anticipated move comes after Tupperware sought legal and financial assistance following long-running attempts to save the once-popular home goods business.
SEE THE STORY BEHIND TUPPERWARE'S RISE AND FALL

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Markets

DJIA	41,606.18	-0.04%
S&P 500	5,634.58	0.03%
Nasdaq Composite	17,628.06	0.20%
Japan: Nikkei 225	36,203.22	-1.03%
UK: FTSE 100	8,309.86	0.38%
Crude Oil Futures	71.14	-0.07%
Gold Futures	2,598.70	0.24%
Yen	142.03	-0.28%
Euro	1.11	0.06%
* As of market close

Combs forced women into 'freak-offs': Feds

An unsealed federal indictment claims Sean "Diddy" Combs often manipulated women into "freakoffs," a term that implies used force to cause victims to engage in extended sex acts with male commercial sex workers. He is facing three federal felony charges -- racketeering, sex trafficking, and transportation to engage in prostitution. The indictment states, "Combs manipulated women to participate in highly orchestrated performances of sexual activity with male commercial sex workers... Combs ensured participation from the women by... obtaining and distributing narcotics to them...using intimidation and violence."

SEE THE CLAIMS OF SEXUAL ABUSE LEVELED AGAINST 'DIDDY'

Hezbollah pager blasts kill 8, injure 2,800

Hezbollah commanders in Syria are reportedly among the injured in a series of connected pager explosions that also killed several people and injured thousands in Lebanon on Tuesday. Eight people died and more than 2,800 were injured, including 18 commanders in Syria, were injured by the simultaneously exploding pagers. Among the dead was the young daughter of a Hezbollah member who was killed by a pager blast in her parents' home. Lebanon's Health Minister Firas Abiad says most of the wounded have injuries to their hands, faces and abdomen.

WATCH VIDEOS OF THE SIMULTANEOUSLY EXPLODING PAGERS

Pressed Instagram rolls out 'Teen Accounts'

Meta on Tuesday announced the creation of "Teen Accounts," which is designed to better protect underage users from the dangers associated with Instagram. The popular photo-sharing app is accused by many experts and authorities of damaging the mental health of young users. Under the policy, users age 13-15 will have private accounts by default, with tighter safeguards on who can contact them and what content they can see. The rules apply to both existing and new users to the platform.

SEE THE DRASTIC CHANGES META IS MAKING TO INSTAGRAM

Extra point

Who, what, when and where was the first image posted on Instagram?

Tuesday's answer: The largest successful heist in global history was the Tonbridge heist in March 2003, when approximately US $1 billion was stolen from the Central Bank of Iraq, shortly after the US invasion.

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