Good morning. We'll have more on the death of Queen Elizabeth II below, but first, an incredible stat that highlights her longevity. When Elizabeth ascended the throne, the UK's prime minister was Winston Churchill, who was born in 1874. The prime minister at the time of her death, Liz Truss, was born 101 years later, in 1975. —Matty Merritt, Max Knoblauch, Neal Freyman | | | |  | Nasdaq | 11,862.13 | | | | | S&P | 4,006.18 | | | | | Dow | 31,774.52 | | | | | 10-Year | 3.323% | | | | | Bitcoin | $19,337.19 | | | | | GameStop | $25.83 | | | | *Stock data as of market close, cryptocurrency data as of 10:00pm ET. Here's what these numbers mean. | - Markets: Maybe no news is good news for stocks, which posted their second straight day of gains during a quiet week for new economic data. GameStop investors applauded the retailer's tightening embrace of crypto; on Wednesday, it announced a partnership with crypto exchange FTX.
| | | | WPA Pool/Getty Images Queen Elizabeth II, the longest-serving British monarch, died yesterday at 96. Buckingham Palace reported earlier in the day that doctors were "concerned for Her Majesty's health," and that members of her family were all flying to be with her at Balmoral Castle in Scotland. Her 73-year-old son will now take the throne as King Charles III, inheriting a vastly different Britain than his mother did seven decades ago. It was an unprecedented reign When a 25-year-old Elizabeth first donned the crown in February 1952, Harry Truman was president, Winston Churchill was prime minister, and NBC's The Today Show had just debuted. She ruled during the span of 15 UK prime ministers, 14 US presidents, and nearly 30% of American history, providing a stabilizing force during geopolitical upheaval and scandals in the royal family. ~80% of all people currently living in the UK were born after Elizabeth became queen. Buckingham Palace didn't wing this: It had a highly orchestrated plan to announce the queen's death, called Operation London Bridge. The plan began by alerting the current prime minister—Liz Truss, as of this week—who told officials in the overseas territories. At exactly the moment a footman pinned a black-edged notice of the queen's death to the palace gates, the media began its well-rehearsed, multiday broadcast program that will celebrate the queen's life and lead the country in its 10 days of official mourning. Leaders around the world, including President Biden, responded to the queen's death with condolences and messages of support. But…you might want to avoid Irish TikTok if you were an Elizabeth fan. Big picture: Britain's already waning global influence has hit a nadir after most of its colonies bucked the crown for independence. When Queen Elizabeth II first clocked in on day one, Britain held 70+ territories around the world; at the time of her death that number had dwindled to 15. And yet, the monarchy soldiers on. The British national anthem, which had been sung as "God Save the Queen" since 1952, will get a one-word edit: "God Save the King."—MM | | Chevrolet 🚙 Chevy unveils an EV for the masses. GM revealed an all-electric 2024 Chevy Equinox that'll be one of the most affordable EVs on the market, priced at around $30,000 (the average cost for an EV in July: $66,000). The Equinox is GM's second best-selling vehicle behind the Chevy Silverado. In other EV news, Jeep unveiled four all-electric SUVs coming to a dirt road near you by 2025.  Abortion will be on the ballot in Michigan. The Michigan Supreme Court ruled that voters will decide whether to enshrine abortion rights in the state's constitution in November. If approved, it would negate a 1931 law that bans most abortions in Michigan. Reproductive rights groups hope the Michigan vote will be a repeat of a Kansas vote earlier this summer, where people chose to preserve abortion protections by a large margin.
 The European Central Bank unleashed a historic interest rate hike. In its 24 years of existence, the European Central Bank (ECB) had never before hiked interest rates by the amount it did yesterday. To tamp down record inflation in the eurozone, the ECB raised interest rates by 0.75 percentage point, its second rate hike this year and likely not the last. The aggressive move parallels actions by the US Federal Reserve, which seems poised to boost interest rates by 0.75% for the third time this year.
| | TOGETHER WITH CARDCRITICS | | We know we're setting a pretty high bar there, but this card has the bona fides to back it up. That's because you don't have to choose between a stellar ongoing cash-back rate and a decadent welcome offer. With this card, you can have it both ways: Earn unlimited 2% cash back and a $200 cash bonus. Even better? There are no categories to keep track of, so you can earn the same 2% rate on everything you buy—whether you're gettin' a head start on your holiday shopping list or stocking up for one last summer BBQ. Now that's truly the best of both worlds, don'tcha think? Apply here. | | Francis Scialabba Execs at EY, where approximately 90% of your graduating class started their careers, approved a plan to split up its auditing and consulting/advisory businesses. The high-stakes move is intended to juice EY's fast-growing consulting business by freeing it from conflict-of-interest concerns that have slowed it down. - Because EY does consulting and auditing, it's kind of like having both the players and the referees on their payroll. Financial regulators have begun to pry into this ethically murky relationship.
This process of splitting up will be extremely complex and time-consuming, since it requires approval from the firm's 13,000 partners across 140 countries, not to mention figuring out who gets the E and who gets the Y. Partners might be too busy browsing for thoroughbreds to weigh in. Following a public listing of the consulting company, auditing partners could receive a cash payout equivalent to 2x–4x their annual pay, which averages $850,000–$900,000 a year, per the WSJ. Zoom out: The three other Big Four firms—Deloitte, KPMG, and PricewaterhouseCoopers—say they don't plan to create a GAAP in their business like EY. Instead, they're hoping to capitalize on EY's restructuring plan to plunder talent, the WSJ reports.—NF | | Fast & Furious 6/Universal Pictures The For You page has had enough of your teenage dirtbag pics and corn song lip syncs: The new thing on TikTok is grand theft auto. Across the country, a spike in thefts of certain Kia and Hyundai models is being attributed to videos on TikTok egging on robberies. Authorities say that thieves are taking advantage of some 2011–2021 Kias and 2016–2021 Hyundais that utilize a key rather than a push-button start. After stealing the vehicles through a hot-wiring method that can take less than a minute, the thieves (often teenagers) post joyriding videos with the hashtag #KiaBoys. Multiple variations of the hashtag have racked up more than 25 million views on TikTok. The trend has led to a major uptick in Kia and Hyundai thefts this summer, primarily in the Midwest. - 601 Kias and Hyundais were reported stolen in Chicago this August, up from 58 last August.
- 111 Kias were stolen in Detroit in July. In all previous months before June 2022, 11 or fewer were stolen.
- 48% of all cars stolen in St. Louis this year were Kias and Hyundais.
Zoom out: Hyundai said it will offer a security upgrade, for a fee, to consumers in October. Lawsuits against the automakers for theft-enabling "defects" have been filed by owners in several states.—MK | | Loop Images/Getty Images Stat: About 25% of Princeton's student body will pay zilch for tuition, food, and housing under a new plan announced by the university to cover expenses for most families making $100,000 a year or less. It may not make much of a dent in Princeton's endowment, which stood at $37.7 billion as of June 2021. Quote: "Buy your mom an iPhone." Tim Cook has no plans to let your green bubble Android friends and family members back into the group chat. Responding to a question at the Code Conference on Wednesday, the Apple CEO rejected the idea of smoothing out messaging between iPhones and Androids by adopting a new messaging protocol. Google's recent public campaign to pressure Apple into adopting RCS (the successor to older SMS and MMS messaging protocols) appears to have failed. Read: Cash, stamps, and flags—how royal symbols will now change. (The Guardian) | | The feeling of getting a 5/5 on the Brew's Weekly News Quiz has been compared to Googling a coupon code and having it actually work. It's that satisfying. Ace the quiz. | | - A county administrator in Las Vegas was arrested in connection with the stabbing murder of Las Vegas Review-Journal investigative reporter Jeff German.
- Bernard Shaw, CNN's first chief anchor who served in the role for 20 years, died at 82.
- Retailers such as Blue Apron have pulled lobster from their menus after a conservation group said the lobster fishing industry poses a significant threat to the rare North Atlantic right whale.
- BetMGM is opening a sports betting facility just outside the Arizona Cardinals stadium, an NFL first.
| | | Start every day with a delish boost. The perfect complement to any AM routine reboot? How about four: enhanced energy, better digestion, less bloat, and a metabolism reset. This coveted combo comes in just one scoop, courtesy of Sakara's bestselling Metabolism Super Powder, which is finally back in stock. Get 20% off with code SEPT22BREW. | | | Ever wonder whether your daily face serum actually works? Been there…and science suggests that it doesn't. With Droplette's NASA-backed skincare device, you can infuse serums 20x deeper than the traditional stuff. Get ready to see an immediate difference. Take 20% off here.* *These sponsored posts support Morning Brew. | | Start planning your Vermont trip: This map shows you when fall foliage will peak across the US. Fixing the "Mona Lisa": A thread on using AI to upgrade some of the world's most iconic artworks. Feeling left out of all the back-to-school hoopla? Now's your chance to get back to learning and level up your career at the same time. Join the September cohort of Morning Brew's Business Essentials Accelerator to hone your craft and become the professional you know you are capable of being. | | Jigsaw: This is the cutest jigsaw puzzle you will ever play. Check it out. Friday puzzle There's really not one "correct" answer to this puzzle, but you can use it as a contest between your coworkers or friends. Using only the official two-letter postal abbreviations for US states, what's the longest English word you can spell? You may not repeat states. Example: California (CA) + North Dakota (ND) + Oregon (OR) = Candor | | | We tapped out at eight-letter words, including "mindgame," "calamari," and "memorial." | | | Written by Neal Freyman, Matty Merritt, and Max Knoblauch Was this email forwarded to you? Sign up here. WANT MORE BREW? Industry news, with a sense of humor → - CFO Brew: your go-to source for global finance insights
- Emerging Tech Brew: AI, crypto, space, autonomous vehicles, and more
- Future Social: the Brew's take on the world of social media
- HR Brew: analysis of the employee-employer relationship
- IT Brew: moving business forward; innovation analysis for the CTO, CIO & every IT pro in-between
- Marketing Brew: the buzziest happenings in marketing and advertising
- Retail Brew: retail trends from DTC to "buy now, pay later"
| ADVERTISE // CAREERS // SHOP // FAQ
Update your email preferences or unsubscribe here.
View our privacy policy here.
Copyright © 2022 Morning Brew. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011 | |
On Business Casual, we discuss why the hacker economy is "booming and robust" and what the cybersecurity industry is doing to combat it. 
Want to level up your skills but don't know where to start? 
No comments:
Post a Comment