Wednesday, September 21 2022

Fed Vice Chairman Lael Brainard claimed this week that the Fed was in no rush to reverse its rate hikes, suggesting the central bank “would need to see ‘several months’ of monthly data on the low inflation to be confident that rapid price growth was finally cooling.” His remarks were seen as “raising the odds that Fed leaders will raise interest rates again by three-quarters of a percentage point when they meet this month” – NY Times and WSJ and Bloomberg and MarketWatch

The ECB expects it to make its own big rate move today as “policymakers battle to bring down record inflation driven by a energy crisis that has engulfed the region amid Russia’s ongoing war in Ukraine. The issues are very high – NY Times and WSJ

All the latest from Apple’s big fall reveal yesterday, including the iPhone 14 and a bloated version of the Apple Watch – NY Times and WSJ and Bloomberg and MarketWatch and Mashable and Tech Crunch

On Wednesday, a Delaware chancellor allowed Elon Musk to amend her counterclaim against Twitter to “incorporate allegations of a whistleblower complaint from the social media company’s former security chief,” but she has denied his request to move the trial date from his current Oct. 17. insert – WSJ and Law360

As Governor Newsome navigates his way through the series of pioneering measures passed by the California legislature in recent weeks, the Time examines how the political actions of this state can influence the rest of the nation – NY Times

Vice Media is reportedly considering expansion into Saudi Arabia through a partnership with MBC, “a media giant partly owned by the Saudi government.” The $50m deal is particularly controversial given the Saudi government’s role in the 2018 murder of journalist Jamal Khashoggi – NY Times

We’ve got throwback vibes from Daily Dose, as insurer Ambac ripped Countrywide Home Loans Inc. (now part of Bank of America) for its “worst of the worst” pre-2008 day one lending practices. lawsuit over Ambac’s ‘$2 billion investor claims’ was left pending ‘when the real estate bubble burst in 2008’ – Law360

Cineworld, the parent company of Regal Cinema and the “second largest movie theater chain after AMC” in the world, has filed for bankruptcy. Devastated by pandemic, Cineworld finds itself ‘burdened by colossal debt’ which it hopes to restructure in Chapter 11 proceedings NY Times and WSJ and Law360

My roommate and I hit Spencer for about $25 worth of posters our freshman year. So this $10,000 dorm nonsense. . . . I mean really – WSJ

Be careful,

LOL

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