Hiring Slowdown, TikTok Sued, and a Four-Eared Kitten

Facts, without motives. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
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Good morning. It's Saturday, Aug. 3, and in this weekend edition, we're covering a weaker-than-anticipated US jobs report, a federal lawsuit against TikTok, and much more. First time reading? Join over 3.5 million readers. Sign up here.

 

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One Big Headline
 

Jobs Slowdown Hits Stocks

US employers added fewer-than-expected nonfarm jobs in July as the country's unemployment rate ticked up for the fourth consecutive month to 4.3%, the highest since October 2021, according to government data released yesterday. The latest report spurred a sell-off in the US stock markets, with all three major indexes closing down and the Nasdaq composite entering correction territory (S&P 500 -1.8%, Dow -1.5%, and Nasdaq -2.4%).

 

US employers added 114,000 jobs last month, below economist estimates of 185,000 and down from the downwardly revised 179,000 jobs in June. Average hourly earnings in July rose 0.2% month-over-month and 3.6% year-over-year, both below economist estimates. The data comes after the Federal Reserve on Wednesday signaled an interest rate cut was likely in September. Analysts say the report suggests the Fed could slash rates by half a percent. See a breakdown of data here.

 

Meanwhile, the average rate on the 30-year fixed mortgage dropped to 6.4% Friday, the lowest since April 2023. The average rate on a 15-year fixed mortgage dropped to 5.9%, the lowest since May 2023. 

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Quick Hits
 

US regulators sue TikTok over child privacy violations.

The Justice Department and the Federal Trade Commission filed the challenge against the video-sharing app and its Chinese parent company, ByteDance, Friday. The regulators allege TikTok breached a federal law requiring services to obtain parental consent to collect personal information from children under 13. TikTok has roughly 170 million active US users, while ByteDance faces a legal deadline from the US government to sell TikTok or withdraw from the US market. 

 

Harris secures Democratic nomination for president.

Vice President Kamala Harris made history Friday as the first Black woman and Asian American to become a presidential nominee from a major party in the US. Harris secured a majority of the votes (at least 2,350) needed for the nomination a day after voting opened. She will accept the nomination next week. 

 

Hunter Biden to be sentenced in November for gun conviction.

The younger Biden became the first convicted child of a sitting US president in June when a jury found him guilty of three felony charges related to lying about his drug use in 2018 when purchasing a gun. Hunter Biden will be sentenced Nov. 13 in the gun case and faces a different trial in September for separate tax-related charges. 

 

Intel shares plunge the most in 50 years.

Intel's shares fell 26% Friday, marking the chipmaker's second-largest single-day drop, behind a 31% drop in July 1974. The company's shares were trading at a level last seen in 2013. The decline came a day after Intel announced it would cut 15% of its workforce and pause dividends beginning in the fourth quarter as part of cost-cutting measures. 

 

Chevron to relocate to Texas from California.

America's second-largest oil and gas company is moving its global headquarters from California—its home state for more than 140 years—to Houston, Texas, considered the US energy capital. The announcement comes weeks after Elon Musk said X (formerly Twitter) and SpaceX would move their headquarters from California to Texas and follows a growing trend

 

Tropical storm warning issued for parts of Florida.

As of this writing, a developing system in the eastern Gulf of Mexico is expected to turn into Tropical Storm Debby today and drench the west coast of Florida this weekend. Up to a foot of rain is possible in some areas of the state, with flash flooding and heavy rainfall to continue through next week.  

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Humankind
 

A 10-year-old boy gets a surprise visit from his brother in the Army after 300 days apart. (More, w/video) 

 

Woman who brought her boyfriend home to her parents finds out the couple grew up with the same rare home layout. (More, w/photos)

 

London man turns his neighbors' hedges into art to honor his late wife, an artist who died from breast cancer. (More

 

Minnesota children raise $4K with lemonade stand for neighbors who lost their home in a fire. (More)

In partnership with Sky Quarry

Turning Trash into Treasure

Around 15M tons of asphalt shingles are dumped in North America annually. Sky Quarry has developed a way to convert this potentially toxic waste into valuable resources.

 

They have a refinery which generated $50M in revenue in 2023. This will help them vertically integrate into the energy industry. In 2025, they plan to open a flagship extraction facility that can produce as many as 2,000 barrels of oil per day. They’ve even secured ‘SKYQ’ as their stock ticker.

 

Invest in Sky Quarry before their planned Nasdaq listing.*

 
Humankind(ness)
 

Today, we're sharing a story from reader Suzanne B. in St. Louis, Missouri.

 

"I was 9.5 miles into a training walk for the Portuguese Camino when I stepped in a pothole and went down. I got up and sat on a grassy area to look myself over. A young woman came running out of a restaurant to see how I was. She went back in to get a first aid kit and bring me a glass of water. She waited while I patched up my knee and called for a ride. Jenna was my Florence Nightingale."

 

What act(s) of kindness did you experience this week? Tell us here.

Etcetera
 

Bookkeeping

Starter homes now cost $1M in at least 237 US cities, with nearly half in California.

> Octogenarian Hermès heir alleges his $13B fortune has vanished.  

> Houston, Texas, is paying Michelin $270K to review the city's restaurants

 

Browse 

> Meet the kitten born with four ears

America's 36 best state parks.

What color is the night sky

> Test your knowledge of dreams

> Starbucks' fall menu leaks online.

 

Listen 

> The world's best trivia contestant on what it takes to know everything.  

 

Watch 

> Tar pits are considered death traps—but not for the petroleum fly.

> Why sand divers risk their lives every day for the world's most mined resource.

> The engineering history behind Venice, a city built on water.

> What Snoop Dogg carries in his Olympic bag

 

Long Read 

> The rise of Type 2 diabetes in children

> A visual deep-dive into the origins of the ancient Olympic games.

 

Most Clicked This Week: Why some people always wake up at 3 am or 4 am

 

Historybook: Singer Tony Bennett born (1926); Martha Stewart born (1941); Rival basketball leagues merge to form the NBA (1949); Tom Brady born (1977); 23 killed and 23 injured in mass shooting in El Paso, Texas (2019).

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Wednesday, July 31, 2024

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Monday, July 29, 2024

Facts, without motives. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

El Mayo Arrested, Venezuela Elections, and Workaholism

Saturday, July 27, 2024

Facts, without motives. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Delta Probe, NASA's Chandra, and the Most Elusive Bugs

Wednesday, July 24, 2024

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