Tuesday, August 19
Headlines
Andrew Caballero-Reynolds / Getty Images
Zelensky meets with Trump, who wants to set a meeting with Putin. Ukraine’s President Volodymyr Zelensky visited the White House yesterday, this time bringing a group of European leaders, wearing a suit, and getting a warmer reception from President Trump. The meeting happened after Trump met with Russia’s Vladimir Putin in Alaska to discuss a potential peace deal between Russia and Ukraine—but one that would involve Ukraine giving Russia land it had seized in its invasion, which Zelensky has said he will not agree to. After yesterday’s meeting Trump said he had begun arranging a meeting between Putin and Zelensky, and had discussed it with the Russian leader during a phone call, with a trilateral meeting to follow. Although no specific plan emerged, Trump also said the US could provide security guarantees to Ukraine.
Democrats return to Texas, clearing the path for GOP redistricting. State lawmakers— who fled Texas two weeks ago to block their Republican colleagues from using their majority to implement a new election map requested by President Trump that could add five Congressional seats for the GOP in the House—returned yesterday. This allowed the Texas House to have a quorum to meet for the first time in weeks. Republicans are now expected to pass the redistricting plan, after Gov. Greg Abbott, who accused the Democrats of having run “away from their responsibility,” called a second special legislative session for them to “finish” it. But the returning lawmakers said they were now “more dangerous,” having provoked a national conversation that included the governor of California’s threat to redraw his state’s map to counterbalance Texas.
US government mulls 10% stake in Intel as Softbank invests $2b. Negotiations are ongoing, but Bloomberg and the Wall Street Journal reported yesterday that the government is considering becoming one of the beleaguered chipmaker’s biggest shareholders by converting grants the company was given under the Biden-era Chips Act into an equity stake. At Intel’s current valuation, a 10% stake would be worth ~$10.5 billion—though the exact size of the stake and whether the government will move forward with the plan remains to be determined. Meanwhile, over in the private sector, Softbank agreed to buy $2 billion worth of Intel stock, giving it a ~2% stake. Intel has been trying to turn itself around after losing ground to other semiconductor companies.—AR
Robert Reich
How I'm spending my retirement
In a word: teaching
Friends,
This morning, a former student came up to me where I was sitting in my favorite coffee shop and asked, “Professor Reich, are you enjoying your retirement?”
I said “no.”
My answer confused and embarrassed her. “I’m … I’m sorry to hear that,” she said.
“Oh, I’m enjoying life,” I reassured her. “But I haven’t retired.”
“But … you retired from teaching, right?”
“I retired from classroom teaching.”
I gestured to the seat opposite mine. “Please sit down. It’s Sarah, right?”
“You remembered!” Her face broke into a big smile, and she sat. “But I only have a moment.”
I felt proud of myself for recalling her name. I’m terrible with names.
At A Glance
How to make perfect chocolate, according to science.
These 14 states could see the northern lights this week.
Cambridge Dictionary adds over 6,000 new words, including "skibidi.”
Ranking the highest pro athlete salaries by sport.
Is the obsession with Labubus akin to gambling?
These seabirds only poop while flying.
Jazz group turns a delayed flight into a live concert.
The first known person to be struck by a meteorite.
Clickbait: Grandma and grandpa's $100K memoir.
Historybook: Fashion designer Coco Chanel born (1883); Indianapolis Motor Speedway, home of the Indianapolis 500, hosts first race (1909); Former President Bill Clinton born (1946); Comedian Groucho Marx dies (1977); Final US combat brigade leaves Iraq (2010).
In The NEWS
Sports, Entertainment, & Culture
> Terence Stamp, Oscar-nominated British actor best known for playing General Zod in "Superman" films, dies at age 87 (More) | Tristan Rogers, actor who starred on "General Hospital" over a span of 45 years, dies at age 79 (More)
> World No. 1 Scottie Scheffler wins BMW Championship to become first golfer since Tiger Woods in 2006-07 to win five times on the PGA Tour in consecutive seasons (More)
> Taylor Swift's interview on the "New Heights" podcast sets a YouTube record for concurrent viewers with 1.3 million watching last week's live stream (More)
Science & Technology
> SpaceX receives approval for next test flight of its massive Starship, targets Sunday as launch day; 10th flight follows three failed flights, each experiencing separate technical issues (More) | How SpaceX catches returning rockets with "chopsticks" (1440 Topics)
> Researchers discover eight new genes linked to schizophrenia; study suggests the condition may be related to how DNA is organized within cells, and how brain cells communicate using the chemical GABA (More)
> Study reveals neurons help control the inflammatory response in the gut, play a role in inflammatory bowel disease, enteritis, and other conditions (More)
Business & Markets
> US stock markets close mixed Friday (S&P 500 -0.3%, Dow +0.1%, Nasdaq -0.4%) amid data suggesting consumer sentiment has dropped for the first time in four months (More)
> Billionaire twins Cameron and Tyler Winklevoss file to take cryptocurrency exchange Gemini public; company reported net loss of $158.5M last year (More)
> Roblox shares fall over 7% Friday on news Louisiana's attorney general is suing the company for allegedly failing to protect children (More)
Politics & World Affairs
> Bolivia's presidential election heads to a runoff between centrist Senator Rodrigo Paz and right-wing former President Jorge “Tuto” Quiroga; election comes as annual inflation exceeds 16% (More)
> Israelis engage in nationwide protests, calling for government to secure ceasefire, return hostages (More) | Israeli government is reportedly in talks with leaders of South Sudan to relocate Palestinians there (More)
> Serbian President Aleksandar Vucic vows tough response after anti-government protesters torch ruling party's offices over the weekend; protesters accuse the government of police brutality (More)
SOURCE: 1440 NEWS
Donkey or Elephant
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In 1967, I was 20 years old, and was a Kennedy Democrat (Donkey) even though he was assassinated in 1963 while I was still in high school. I was a Democrat because they were the party of the working man and the Republicans were the party of big business.
In 1981, I received my MBA from the Babcock Graduate School of Management at Wake Forest University and became a Republican, not so much because they were of big business but because they wanted:
- low taxes
- small government
- strong military
- strong commerce
The Democrats on the other hand, wanted just the opposite.
In 2020 and no doubt several years earlier, the Democrats changed from being the party of the working man, to party of progressive liberals and socialists who wanted government to provide most everything with the wealthy people paying for it.
Labor Unions, supported by the Democrats, want higher wages and more benefits for employees and while that makes sense on the surface, it is disastrous for an economy because it will raise prices and cause layoffs.
I don't agree with companies paying their management team as much money as they do and that should stop, but companies need profits for expansion, new product development, and for technology growth.
Companies should scale back what they are paying their management teams and government should strive towards a slow but consistently growing economy.
If an economy grows at 3% a year, prices will only double every 24 years and that is not a strain on the worker, however, wages should grow more than 3% a year otherwise the worker is making no progress at all.
Today's donkeys are moving into a socialistic society and while there are plenty of billionaires in the US to pay for a society like that, these billionaires will shield themselves from taxes.
However, the donkeys might get their way because the potential employment takeover by robots is just right around the corner, and we may be forced to move into socialism quicker than anticipated.
The Fastest Train in the U.S. Launches Aug. 28—Here's Everything to Know
On Aug. 28, Amtrak will launch its brand-new NextGen Acela trains, debuting the company's newest generation of high-speed cars. The rail company will roll out 28 larger trains through 2027, each offering upgraded amenities and increased capacity.
“In just a few weeks, history will be made with the debut of NextGen Acela as we launch a new standard for American train travel,” Amtrak's President Roger Harris said in a statement shared with Travel + Leisure. “NextGen Acela is more than a new train—it’s an evolution of travel.”
The trains will feature maximum speeds of 160 mph and utilize a new “tilt system” which provides a "smoother, quieter ride," according to Amtrak. Currently, Acela trains run with a maximum speed of up to 150 mph.
Monday, August 18
Headlines
Handout/Getty Images
Hurricane Erin thrashes Caribbean on its way north. Erin, the first hurricane of the 2025 season, knocked out power to nearly 155,000 utility customers as a Category 3 storm with maximum sustained winds of 125 mph. Erin has undergone dramatic fluctuations in intensity: A Category 5 on Saturday, the hurricane weakened on Sunday but is expected to regain strength on Monday and Tuesday when it turns north to pass between the US and Bermuda. The East Coast is expected to experience dangerous rip currents and surf during the week.—NF
Debit-card spending grew more quickly than credit-card spending for first time in four years. People are either remembering their PINs or finally just requesting new ones. The Wall Street Journal, citing data from Visa and Mastercard, reported that credit-card spending has been growing more slowly than debit-card spending since late last year. Several factors in the current economic climate help to account for the change. Some credit card companies are being more exclusive with their offerings, and consumers are not as inclined to spend as they were in the pandemic era.—HVL
Duolingo CEO responds to AI backlash. The language-learning app has faced a wave of criticism since CEO Luis von Ahn issued a memo earlier this year saying the company would become “AI-first.” In a new interview with the NYT, von Ahn acknowledged he “did not give enough context” around the strategy shift, stressing that the intent was not to shrink Duolingo’s human workforce but instead figure out ways for AI to help the company “accomplish a lot more.” The criticism didn’t seem to impact Duolingo’s finances—when it beat earnings earlier this month, its stock shot up 30%.—NF
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