The United States announced extensive sanctions targeting Russia’s war efforts and President Biden revealed additional aid for Ukraine. The sanctions, affecting nearly 400 individuals and entities, aim to disrupt Russia’s supply chain and defense base, including support from China. Ahead of Ukrainian Independence Day, Biden emphasized Ukraine’s resilience and announced a new aid package with air defense missiles and counter-drone equipment. He praised Ukraine’s defense of its sovereignty and values, reaffirming US support in the ongoing conflict.
Read more at: https://www.cnn.com/2024/08/23/politics/us-sanctions-russia/index.html
Ukraine’s military used U.S.-supplied high-precision glide bombs to strike Russia’s Kursk region and recaptured territory in Kharkiv. Air Force Commander Lt. Gen. Mykola Oleschuk released a video showing a Russian platoon base being hit in Kursk, resulting in casualties and equipment destruction. The attack used GBU-39 bombs and occurred during a surprise cross-border incursion on Aug. 6. The video depicted multiple explosions and smoke. Some of Ukraine’s supporters oppose using donated weapons for offensive actions.
Read more at: https://apnews.com/article/russia-ukraine-kharkiv-1ee5b55ddce9efaeed52da6963a9d02d
In Kibbutz Nirim, Israel, mourners gather to bury Yagev Buchshtab, a 35-year-old sound technician and one of the hostages taken during the Hamas-led attack on October 7. The attack killed around 1,200 people and saw 250 taken to Gaza as hostages. Buchshtab’s wife, Rimon, was also taken but released after 50 days. His body was one of six recently recovered by Israeli forces. Cease-fire talks are expected to resume amid the ongoing conflict.
Read more at: https://www.npr.org/2024/08/23/g-s1-19289/israel-hostage-funerals-ceasefire-hamas
Joseph Emerson, an off-duty Alaska Airlines pilot, spoke about his attempt to shut down a plane’s engines on Oct. 22, 2023. In an interview with ABC’s “Good Morning America,” Emerson, 44, expressed regret and took responsibility for his actions. He revealed he had taken psychedelic mushrooms 48 hours prior, was depressed, and believed he was experiencing a mental breakdown. The incident occurred on Flight 2059 from Everett, Washington, to San Francisco, which was diverted to Portland. Emerson described feeling trapped and questioned reality during the event.
Read more at: https://www.nbcnews.com/news/pilot-tried-stop-engines-midflight-taking-magic-mushrooms-calls-action-rcna167979
The Federal Reserve is expected to cut its benchmark interest rate next month from its 23-year high, with potential impacts on debt, savings, auto loans, and mortgages. Experts predict three quarter-point cuts in September, November, and December, though steeper cuts are possible. Fed Chair Powell indicated that the timing and pace of cuts will depend on incoming data. Greg McBride of Bankrate advises savers to lock in current high yields on Certificates of Deposit or bonds before rates drop, especially those nearing retirement.
Read more at: https://apnews.com/article/fed-rate-cut-consumers-debt-loans-savings-51960beab765fcdadd61282671b075c6
Stock futures rose slightly in overnight trading on Aug. 4, 2022, as traders awaited a key policy speech from Fed Chair Jerome Powell. Dow Jones futures gained 47 points, while S&P 500 and Nasdaq 100 futures edged up 0.2% and 0.3%, respectively. Powell is expected to signal the potential for future interest rate cuts during his speech at the central bank’s annual conclave in Jackson Hole, Wyoming.
Read more at: https://www.cnbc.com/2024/08/22/stock-market-today-live-updates.html
Shein revealed two child labor cases in its supply chain in 2023, prompting the company to tighten supplier policies ahead of a potential stock market listing. The firm temporarily suspended orders from the involved suppliers until they addressed the issue. Remediation included terminating contracts with underage employees, ensuring wage payments, medical checkups, and repatriation. Shein now enforces immediate contract termination for any child or forced labor violations. The cases were found in the first nine months of 2023, with none in the last quarter.
Read more at: https://www.bbc.com/news/articles/c4glzzdd88lo
Investors should mark Wednesday for Nvidia’s quarterly results, which Wedbush Securities’ Dan Ives calls “the most important tech earnings in years.” These results are crucial for the tech bull market, hinging on demand for data-center capacity needed for AI operations like OpenAI’s ChatGPT. A miss could trigger market turbulence similar to Aug. 5, despite any positive signals from Federal Reserve Chair Jay Powell. Nvidia CEO Jensen Huang’s advanced graphics processors, essential for AI, are at the center of this anticipation.
Read more at: https://fortune.com/2024/08/23/nvidia-jensen-huang-quarterly-earnings-tech-bull-market-ai/
Rumer Willis updated fans on her dad, Bruce Willis, who is living with frontotemporal dementia, saying he is “great” and expressing her love for him. She shared this update on Instagram, accompanied by a photo of them holding hands. Bruce Willis retired from acting in March 2022 after being diagnosed with aphasia, later identified as frontotemporal dementia. His family, including ex-wife Demi Moore, current wife Emma Heming, and his five daughters, announced the diagnosis in February 2023.
Read more at: https://pagesix.com/2024/08/23/celebrity-news/rumer-willis-gives-health-update-on-dad-bruce-amid-dementia-battle/
Ben Affleck, 52, appeared stressed during a movie night with his child Seraphina, 15, in Marina Del Rey, Los Angeles. This outing followed Jennifer Lopez’s divorce documents requesting to drop his last name, “Affleck,” after their July 2022 wedding. Affleck was seen clinging to his cellphone while escorting his teenager and friends to an AMC theater.
Read more at: https://nypost.com/2024/08/23/entertainment/downtrodden-ben-affleck-looks-stressed-for-movie-night-with-seraphina-amid-j-lo-divorce/