Wednesday, August 13
Headlines
Illustration: Emily Parsons/Google
Perplexity offered to buy Google Chrome for $34.5 billion. The unsolicited offer from the AI upstart, which reportedly includes several other investors, is nearly double its own $18 billion valuation. Per the Wall Street Journal, Perplexity’s offer may not be a serious attempt to acquire Chrome, but rather a move to convince a federal judge to force Google to sell the web browser by showing that there would be interested parties. After ruling last year that Google operated an illegal search monopoly, the judge, Amit Mehta, is now deciding on an appropriate remedy, including the possibility of ordering that the tech giant break up its empire. Google has resisted calls to sell Chrome, which is believed to be worth between $20 billion and $50 billion.
Trump threatened to sue Powell over Fed building renovations. Trump v. Powell could soon go from a political beef to the literal name of a court case after the president said he is considering allowing a lawsuit against the Fed chair over what he called the “horrible, and grossly incompetent” renovation of the Federal Reserve headquarters in Washington, DC. After months of President Trump hurling insults at Jerome Powell for not raising interest rates, the two butted heads in person last month when Trump toured the Fed building under construction. Standing next to each other in hard hats, Powell corrected Trump when the president claimed that the cost of the renovation had ballooned to $3.1 billion.
Spirit Airlines doubts it can stay in business much longer. The ultra-low-cost airline known for its bright yellow planes and barebones flying experience has “substantial doubt” it can continue to operate over the next 12 months, it told investors yesterday. Weak domestic demand for travel, in part caused by tariffs, has worsened Spirit’s losses—and unlike larger carriers, Spirit can’t offset them with luxury travel. The airline has tried adding more premium options, but that hasn’t been enough to stop the bleeding. It lost $246 million last quarter, up from a $193 million loss the year before.—AE
Robert Reich
The Senate mustn’t confirm him
Friends,
Sorry to intrude on your inbox again today, but I wanted to alert you to something. Trump’s political hack nominee to become the next commissioner of the Bureau of Labor Statistics — the most important source of information about jobs, wages, and the economy — has already begun to f*ck around with the data, and he’s not even confirmed yet.
E.J. Antoni — who’s the chief economist of the Heritage Foundation and was a contributor to its Project 2025 (should tell you all you need to know) — says the BLS should stop issuing a monthly jobs report and instead publish jobs data every three months. He told Fox Business News:
“Until it is corrected, the BLS should suspend issuing the monthly job reports but keep publishing the more accurate, though less timely, quarterly data. Major decision-makers from Wall Street to D.C. rely on these numbers, and a lack of confidence in the data has far-reaching consequences.”
At A Glance
California police recover $30K of stolen Labubu collectibles.
... and a man was caught smuggling some 850 turtles, worth over $1M.
Do people really look younger than they used to? (via YouTube)
The best-paying job for every Myers-Briggs personality type.
Lithuania will teach schoolchildren how to build and pilot drones.
Nationwide search for the next golden retriever movie star.
Worst opening lines to use on dating apps—and what to say instead.
... and are engagement proposals losing their serendipity?
Clickbait: This drug can turn your blood into mosquito poison.
Historybook: Sharpshooter Annie Oakley born (1860); Florence Nightingale, pioneer of modern nursing, dies (1910); Fidel Castro born (1926); Construction of the Berlin Wall begins (1961); Baseball great Mickey Mantle dies (1995); Celebrity chef Julia Child dies (2004).
In The NEWS
Sports, Entertainment, & Culture
> Paramount purchases UFC streaming rights for all US fights in seven-year, $7.7B deal that begins in 2026 (More)
> Netflix extends creative partnership with Archewell Productions, the media company owned by Meghan Markle and Prince Harry (More) | How Netflix changed TV (1440 Topics)
> Texas tops preseason college football AP Poll for first time; Penn State and Ohio State round out the top three (More) | ESPN and Fox to bundle their upcoming streaming services at $39.99/month (More)
Science & Technology
> Amazon launches 24 Kuiper satellites, bringing the total in its space-based internet network to more than 100; satellites were deployed via competitor SpaceX's Falcon 9 rocket, company's Starlink has more than 8,000 in orbit (More)
> Ford unveils "universal" electric vehicle manufacturing platform, aiming to streamline production across different model types; company to release a four-door electric pickup for $30K in 2027 (More) | The surprisingly long history of electric cars (1440 Topics)
> Study suggests oxytocin, also referred to as the "love hormone," plays a role in the selectivity of social connections; oxytocin-deficient rodents took up to a week to form bonds, compared to 24 hours for control group (More)
Business & Markets
> US stock markets close lower (S&P 500 -0.3%, Dow -0.5%, Nasdaq -0.3%) as investors await key inflation reports this week; consumer price index due today and producer price index expected Thursday (More) | Wall Street's architecture explained (1440 Topics)
> President Donald Trump signs executive order extending the US tariff truce with China for another 90 days (More) | Trump administration cancels tariff talks with Brazil as nation faces 50% levies (More) | Trump to nominate EJ Antoni, chief economist at the Heritage Foundation, to lead Bureau of Labor Statistics (More)
> Lithium stocks surge amid concerns over tightening supply after top EV battery maker Contemporary Amperex Technology announces suspension of major Chinese mine; company cites expiring permit, says it's working to renew (More)
Politics & World Affairs
> Israeli airstrike kills five Al Jazeera journalists and cameramen in Gaza Sunday, including prominent correspondent Anas al-Sharif; Israel says al-Sharif led a Hamas cell, has not publicly provided evidence as of this writing (More)
> Federal judge denies Justice Department's request to unseal grand jury materials in the case of convicted sex offender Ghislaine Maxwell; cites “rule of secrecy” in grand juries and says information contained is largely public knowledge (More) | Read the ruling (More)
> Colombian senator and presidential candidate Miguel Uribe Turbay dies two months after being shot at a political rally (More) | See previous write-up (More)
SOURCE: 1440 NEWS
Vacations on the Outer Banks
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I remember going on vacations as a boy with my older sister and younger brother. Most of the time, we would spend two weeks on the Outer Banks of North Carolina at Kitty Hawk, just south of where highway 158 dead ends at the ocean highway.
There are two highways that connect the mainland with the Outer Banks, 158 is the northern road and 64 at Manteo is the southern road.
My parents would rent a pink cottage that was a quarter mile west of the beach road. At the time we were there, it was the only cottage in the area, since the Outer Banks were not bothered by many tourists at that time. There was a small lake to the south of the cottage that had an island in the center. A rowboat was moored at the edge of the lake nearest to the cottage that we sometimes used to get out to the island.
In the mornings, we would pack what we needed to spend a day at the beach - everyone had to carry something - my dad carried the most but shared carrying a cooler with our mother. We had to stop and rest a couple of times before we arrived. We would have an umbrella, towels, toys, and something to eat and drink but no chairs. We sat on blankets or on the sand itself.
Two weeks is a long time to spend at the beach and while our parents were very careful about the children spending too much time in the sun, but the second week, that is all we did and after two weeks, there was not much white skin left.
All of our meals were either eaten in the pink cottage or on the beach (usually lunch) and not once did we got out for dinner or breakfast at a restaurant. We went out for groceries or to shop if it was raining or to see the production of THE LOST COLONY. Once we experienced the outdoor drama we never went back.
The pink cottage had a kitchen, living room, two bathrooms and four small bedrooms of which we used three. There was no heat, and no air conditioning units attached to the house, but each room had a portable fan. I remember that some nights it was difficult to get to sleep even when there was a breeze.
After my parents sold their houses on the Outer Banks; on was on the beach front and purchased from the previous owner; the other was built by my parents right across the street, we never as a family or sibling returned either collectively or by ourselves.
How China created super steel for nuclear fusion
Nuclear fusion reactors rely on powerful superconducting magnets that must function under intense magnetic fields and at temperatures approaching absolute zero. These extreme conditions place extraordinary demands on the structural materials used, which must remain strong and stable despite the cold and stress.
Finding a material that can withstand both has challenged scientists for decades. Now, researchers in China have introduced CHSN01—China high-strength low-temperature steel No 1—a specially engineered alloy designed to meet these demands.
Tuesday, August 12
Headlines
Alex Wong/Getty Images
President Trump ordered takeover of Washington, DC, police dept. and activated National Guard. In a press conference yesterday, Trump announced he was declaring a state of emergency in DC to remove homeless encampments and “take our capital back.” Because said capital is a federal district in addition to being a city, Trump has the latitude to enact the plan, which included declaring a “crime emergency” in Washington, placing the Metropolitan Police Department under the control of Attorney General Pam Bondi, and directing Defense Secretary Pete Hegseth to activate 800 members of the National Guard. DC Mayor Muriel Bowser, a Democrat, said she would follow the law, but characterized the situation as a “so-called emergency,” and noted that violent crime in the city has fallen since 2023, which the Justice Department confirmed in January of this year.
Two people died in an explosion at a US Steel Plant. The incident occurred at the US Steel Clairton Coke Works plant in Clairton, PA, just before 11am ET yesterday. Two people were found dead, and 10 others were injured. Many of the injuries were non-life-threatening, according to Allegheny County Emergency Services. The explosion occurred inside a battery operating area of the plant and triggered several secondary explosions, according to officials. The cause of the incident is still under investigation. About 1,300 employees work at the Clairton site.
Trump signed order extending tariff truce with China for 90 days. The executive order came down just hours before a key deadline, which is now November 9, and was expected following a third round of talks between US and Chinese officials in Stockholm in July. The two countries first reached a 90-day truce in May, at which time the US lowered its tariffs on China to 30% and China lowered its tariffs on the US to 10%, while also resuming exports of rare earth metals. This latest delay gives Trump a chance to meet with Putin, which he’s scheduled to do this Friday, before taking action on China regarding its purchase of Russian oil. It also means the trade detente will be in place when Trump and Chinese President Xi Jinping are expected to attend the same international meeting in South Korea in October.—HVL
Robert Reich
It would be communism under any other dictator
Friends,
If “state capitalism” were proposed by Democrats or progressives, it would be considered socialism or communism. Done by a neofascist president — as chronicled by the The Wall Street Journal — it’s simply considered inefficient (as the Journal concludes).
But Trump’s state capitalism is already large and growing, and it’s profoundly altering what we once thought of as the private sector. Consider what Trump has done in recent weeks:
- Allowed Nvidia and Advanced Micro Devices to license artificial intelligence chips to China on condition they pay the United States 15 percent of the money they make.
- Demanded that Intel’s CEO resign (the CEO met with Trump yesterday to plead his case).
- Proposed that the Defense Department take a 15 percent stake in MP Materials, which mines critical minerals.
- Allowed Nippon Steel to take over U.S. Steel on condition that Nippon pay a “golden share” of the proceeds to Washington.
- Reserved the right to personally direct some $1.5 trillion of promised investment from America’s trading partners into the United States.
At A Glance
Remember over 421,000 fallen American World War II heroes.
The history of Disappointment Island. (via YouTube)
AOL is pulling the plug on dial-up internet.
Drones reveal major nesting site of endangered Amazon turtles.
Every continent's most turbulent flight route.
... and what flying has looked like through the decades.
Best bars across Europe, according to locals.
McDonald's drops its adult Happy Meal today.
Clickbait: The first artificial tongue that can taste like a human's.
Historybook: Egyptian queen Cleopatra dies by suicide (30 BCE, estimated); James Bond creator Ian Fleming dies (1964); IBM personal computer is released (1981); Sue, largest-ever Tyrannosaurus rex skeleton, discovered (1990); Hollywood icon Lauren Bacall dies (2014).
The history of Disappointment Island. (via YouTube)
AOL is pulling the plug on dial-up internet.
Drones reveal major nesting site of endangered Amazon turtles.
Every continent's most turbulent flight route.
... and what flying has looked like through the decades.
Best bars across Europe, according to locals.
McDonald's drops its adult Happy Meal today.
Clickbait: The first artificial tongue that can taste like a human's.
Historybook: Egyptian queen Cleopatra dies by suicide (30 BCE, estimated); James Bond creator Ian Fleming dies (1964); IBM personal computer is released (1981); Sue, largest-ever Tyrannosaurus rex skeleton, discovered (1990); Hollywood icon Lauren Bacall dies (2014).
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