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Daily News Brief for Wednesday, September 14th, 2022

Daily News Brief for Wednesday, September 14th, 2022

FromDaily News Brief


Daily News Brief for Wednesday, September 14th, 2022

FromDaily News Brief

ratings:
Length:
16 minutes
Released:
Sep 14, 2022
Format:
Podcast episode

Description

This is Garrison Hardie with your CrossPolitic Daily News Brief for Wednesday, September 14th, 2022. Happy hump day everyone! We’re half way through the week, so let’s get to it. 
 
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https://thepostmillennial.com/breaking-twitter-shareholders-vote-in-favor-of-approving-elon-musk-s-buyout-deal?utm_campaign=64487
 
Elon Musk's Twitter buyout deal APPROVED by shareholders
 
On Tuesday, Twitter’s shareholders voted to approve Elon Musk’s $44 billion buyout deal that was set in motion earlier this year.
 
According to The Verge, sources yesterday had suggested that a vast majority of shareholders were set to approve of the bid, with the required majority being locked in before Tuesday’s meeting.
 
The vote comes as Musk is locked in a legal battle with the social media platform over an attempt to terminate the deal, after Musk sought data that confirmed that the number of Twitter accounts that are automated bot accounts is less than 5 percent.
 
Twitter sued Musk for his attempts to terminate the deal, arguing that Musk created their agreement. The trial is expected to begin in mid-October.
 
This is a developing story, so check back with me tomorrow for more updates:
 
Moving on…
 
https://www.theepochtimes.com/us-inflation-comes-in-worse-than-expected-as-food-shelter-costs-surge_4726956.html?utm_source=partner&utm_campaign=BonginoReport 
 
US Inflation Comes in Higher Than Expected as Food, Shelter Costs Surge
 
The U.S. annual inflation rate came in at 8.3 percent in August, higher than the market forecast of 8.1 percent, according to the Bureau of Labor Statistics (BLS). This is slightly down from the 8.5 percent reading in July.
 
The core inflation rate, which strips the volatile food and energy sectors, also advanced to 6.3 percent last month. This was also higher than the market expectation of 6.1 percent and up from 5.9 percent in July.
 
On a monthly basis, the consumer price index (CPI) rose 0.1 percent, while the core CPI surged 0.6 percent.
 
Food and shelter costs contributed to the inflation numbers as they increased 11.4 percent and 6.2 percent, respectively, year-over-year.
 
The energy index eased to 23.8 percent, new vehicles surged 10.1 percent, used cars and trucks jumped 7.8 percent, and apparel edged up 5.1 percent.
 
Transportation services soared 11.3 percent and medical care services swelled 5.6 percent.
 
Within the food index, most items were up on both a year-over-year and month-over-month basis.
 
Bread prices rose 16.2 percent from the same time a year ago, milk soared 17 percent, eggs spiked 39.8 percent, and fruits and vegetables surged 9.4 percent.
 
BLS data further showed that meat was mostly up across the board, with uncooked ground beef up 7.8 percent, chicken jumping 16.6 percent, ham rising 9.2 percent, and pork surging 6.8 percent.
 
On a positive note, airline fares, which were up by about 33 percent year-over-year, fell by 4.6 percent on a monthly basis in August.
 
On the energy front, prices also eased considerably from July to August. Fuel oil slipped 5.9 percent and gasoline declined 10.6 percent. However, electricity prices added 1.5 percent.
 
U.S. stocks reacted to the hot inflation report. The Dow Jones and the S&P 500 were down 2.7 percent and 3 percent, respectively, during midday trading on Sept. 13, while the NASDAQ was down 3
Released:
Sep 14, 2022
Format:
Podcast episode

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Daily News Brief