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-------------------------
The top stories being read around the world right now!
From the Editor's Desk
What's behind the stock market's brutal 2-day crash? - Fortune (No
paywall)
One factor experts say likely wasn’t at play? Steep losses from
mega-cap names, Hatfield added, were likely not a big driver of the
market dip. Intel shares plunged 26% after the company reported a big
earnings miss and announced mass layoffs, while Amazon’s stock fell
9% after a disappointing earnings call. But Apple, America’s largest
company, emerged from Friday’s session slightly up.
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Continued here [[link removed]}&lead=419599&emailid=44266&nl=daily]
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Work
Trump gave patients a 'right to try.' It hasn't helped them - STAT (No
paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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As Donald Trump seeks a second presidential term, front and center
among the achievements he’s touting is the federal Right to Try law
he signed in 2018. It was intended to let people who are terminally
ill try experimental treatments when there were no approved options
and they couldn’t participate in clinical trials. Over the six years
of its existence, the law has not lived up to that promise.
Work
The murder mystery behind the last great pharaoh Ramesses III -
History (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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Conspiring wives. Screaming mummies. Centuries of speculation.
Questions about the so-called royal harem conspiracy—a plot to kill
ancient Egyptian Pharaoh Ramesses III around 1155 B.C.—have
persisted for over 3,000 years.
Work
Experts highlight the hidden health impacts of long work hours -
Science (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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Increased stress. Anxiety. Lower back pain. High blood pressure. If
you’ve been working long hours at the office, then you might be
intimately acquainted with some of the ways that overwork can have an
impact on your health.
Work
A glimpse into the misunderstood history of geisha - Culture (No
paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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Since 2021, Japan has been grappling with how to handle skyrocketing
numbers of overseas tourists—some 25 million in 2023 and 11.6
million in the first four months of 2024 alone. Many of them travel to
the country's second most popular destination (behind Tokyo), Kyoto,
hoping to catch a glimpse of the iconic entertainers.
Work
Subscribe to read - FT (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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Work
Do Europe's tourist taxes really work? How the new fees impact
tourists and locals - Travel (No paywall)
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If you’ve vacationed in Europe over the past year, then you’re
probably aware of the overwhelming surge in tourists. A rise in
overtourism has sparked Venice to ban groups larger than 25 people and
guides from using loudspeakers on the streets. In Portugal, Lisbon
will double its tourist tax from $2.15 to $4.30 on September 1.
Work
What is going wrong for Intel? - The Economist (No paywall)
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THE MARKET reaction was brutal. On August 1st Intel released a dismal
set of results. The semiconductor giant’s sales were down by 1%,
year on year, and the company declared a net loss of $1.6bn, compared
with a profit of $1.5bn in the same period in 2023. “Our costs are
too high, our margins are too low,” wrote Pat Gelsinger, its chief
executive, in a note to employees. As a consequence, Intel plans to
slash 15,000 jobs and to suspend dividends, which it has paid since
1992. Since the results were published its share price has plunged by
nearly 30%.
Work
Some Germans think the hostage exchange with Russia was a dirty deal -
The Economist (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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AGREEING TO free a convicted murderer was “not easy” said Olaf
Scholz, Germany’s chancellor, with typical understatement. Germany
would probably have preferred to play no role in the complex,
multi-country deal that saw the release of Evan Gershkovich, a Wall
Street Journal reporter, and 15 other prisoners from Russian and
Belarusian jails. But it could not remain aloof, because Vladimir
Putin was adamant about securing the release from German captivity of
Vadim Krasikov, a hitman who in 2019 was sent by Russian security
services to murder a Chechen exile in Berlin. Yesterday, after serving
less than three years of a life sentence that he was given by a Berlin
court in 2021, a tracksuited Mr Krasikov was greeted on the Moscow
airport tarmac with a bearhug by Mr Putin himself.
Work
Gene-editing drugs are moving from lab to clinic at lightning speed -
The Economist (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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One autumn day in 2020 Patrick Doherty was walking his dog up a steep
mountain in County Donegal, Ireland, when he noticed he was, unusually
for him, running out of breath. The eventual diagnosis was terrifying:
amyloidosis, a rare genetic disease that caused a protein, amyloid, to
build up in his organs and tissues. The prognosis was even worse: it
would cause him years of pain until it finally killed him. In the face
of such terrible fortune, though, Mr Doherty had a stroke of luck. He
was able to join a trial of a new medical therapy and, with just a
single injection, was apparently cured. Now, he continues to walk his
dog up that steep mountain in County Donegal every week.
Work
Trump Election Interference Case Officially Back In District
Court--Here's What Happens Next - Forbes (No paywall)
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An appeals court sent former President Donald Trump’s election
interference case back to U.S. District Judge Tanya Chutkan after the
Supreme Court’s ruling that presidents have partial
immunity—placing the ball back in Chutkan’s court after the case
was on hold for about eight months.
Work
Jeff Bezos' Net Worth Drops Nearly $16 Billion Friday As Amazon Has
Biggest Stock Drop In Years - Forbes (No paywall)
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Jeff Bezos' net worth fell by nearly $16 billion Friday, as Amazon's
stock was on track for its worst day in over two years, following a
disappointing jobs report fueling a larger market selloff that
accelerated an ongoing rout for Big Tech stocks.
Work
Nasdaq Enters Correction As Jobs Report Fuels Massive Stock Selloff -
Forbes (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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The Cboe Volatility Index—often called Wall Street’s “fear
gauge”—increased to as high as 29.66, the highest level for the
index since March 2023, indicating increased volatility across all
markets over the next 30 days.
Work
Address liquid biopsy disparities today to ensure equity in outcomes
tomorrow - STAT (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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The promise of scientific and medical innovation often comes with a
downside: improvements in care benefit some people, but not all.
Without concerted effort, that is exactly what could happen with
liquid biopsy — an evolving technology aimed at improving cancer
care using just a few milliliters of blood or other body fluids.
Work
ACL tears in women: Too many injuries and too little research - STAT
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Some of the world’s finest athletes were sidelined by a torn
anterior cruciate ligament (the ligament that helps stabilize the knee
joint) long before the torch was lit for the Paris Olympics. The list
of women competitors with ACL tears is stunning. Basketball player
Cameron Brink, rugby medalist Shiray Kaka, gymnast Asia D’Amato, and
several other athletes will not be competing because of this
all-too-common, season-ending, and potentially career-ruining injury.
Work
Moderna is still in a Covid hangover - STAT (No paywall)
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The Food and Drug Administration has approved a T cell immunotherapy
from Adaptimmune Therapeutics for a rare cancer that arises in the
body’s soft tissues, extending the power of immunotherapies to
difficult-to-reach sarcomas.
Work
Are You a Micromanager or Too Hands-Off? - Harvard Business Review (No
paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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As a first-time manager, you might be unsure of how much autonomy to
give your team members. The proliferation of remote and hybrid work
makes striking a balance between over- and undermanaging even
trickier. Without regular, in-person oversight, micromanagement has
increased for some leaders while others are too hands-off, leaving
their direct reports to fend for themselves. Either way, both
leadership styles can result in direct reports who are frustrated,
disengaged, or more likely to depart. To understand which direction
you lean, ask yourself three questions: Is your main focus how
you’re coming across as a leader?; Are you redoing your teams’
work all the time?; Is your team constantly missing deadlines or
moving slowly?
Work
Why "Wisdom Work" Is the New "Knowledge Work" - Harvard Business
Review (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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Today the workforce is getting older, and the number of younger
workers in positions of senior management is growing. These two
developments might appear to spell trouble, in that they seem to set
the generations against one another, but the author of this article
argues that in fact they represent an important opportunity: If
companies can figure out how to enable the intergenerational transfer
of the wisdom that comes with age and experience, they can strengthen
themselves — and the workplace as a whole.
Work
The Middle Path to Innovation - Harvard Business Review (No paywall)
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Too many companies are failing to innovate. One reason, say the
authors, is the polarized approach companies take to innovation. At
one end of the spectrum, corporate R&D efforts tend to focus on
product refreshes and incremental line upgrades that generate modest
growth for lower risk. At the other end, venture capitalists favor
high-risk “transformational” innovations that seek to upend
industries and generate outsize returns. But there’s a better,
middle, way.
Work
How Biases About Motherhood Impact All Women at Work - Harvard
Business Review (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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Women’s experiences as parents in the workplace are completely
different from men’s. Men get a “fatherhood wage premium,” while
mothers encounter a “motherhood penalty” in wages and advancement
opportunities. One might think that women without children have
workplace advantages on a par with their male counterparts. But they
don’t. The maternal wall hinders all women’s careers, whether they
plan to have children or not.
Work
TheSkimm CEO Carly Zakin Has a Delicious Out-of-Office Distraction
That Helps Her Level Up as a Leader - Inc.com (No paywall)
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Welcome to Out of Office, a recurring series which explores
the extracurricular activities of entrepreneurs--from passion
projects to full-blown side gigs--and why what they do in their
downtime helps them level up as business leaders.
Work
How This FemTech Company Just Hit Unicorn Status - Inc.com (No
paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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London-based period tracking app Flo raised more than $200 million in
Series C funding this week, pushing its valuation above $1 billion.
The milestone makes Flo the first consumer-focused, digital women's
health app to achieve unicorn status, according to the company.
Work
Elon Musk Says He'll Support Election Results If Kamala Harris Wins -
Inc.com (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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"I fully endorse President Trump and hope for his rapid recovery,"
Musk posted, shortly after news broke about the assassination attempt
that day. Since then, Musk has become increasingly vocal on the site,
writing "Trump/Vance LFG!!" numerous times, and other similar posts.
Work
Clinton Kane Addresses Online Spat with Ex Brooke Schofield
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The public back-and-forth between exes Brooke Schofield and Clinton
Kane enraptured the internet this summer, attracting tens of millions
of viewers who tuned in to the mounting drama. Even Vice President
Kamala Harris’s office got in on the fun, using an audio from one of
Schofield’s videos to taunt Donald Trump on TikTok, and the video
currently has over 21 million views.
Work
Caeleb Dressel Breaks Down in Tears After a Pair of Disappointing
Swims
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Caeleb Dressel, the defending Olympic gold medalist in both the 50-m
freestyle and 100-m butterfly, broke down in tears Friday at the Paris
Summer Olympics after a pair of disappointing swims in each event.
Work
Can 'Green Market Makers' Speed up Clean Tech?
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In 2021, I flew from Chicago to Washington D.C. on a United Airlines
flight billed as the first with an engine running exclusively on
sustainable aviation fuel, or SAF for short. The flight was meant to
draw attention to the possibility of SAF, in this case made from
recycled cooking oil, to cut aviation emissions—and a reminder that
the technology works today and can be used on existing planes.
Work
Intel was once a Silicon Valley leader. How did it fall so far?
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The company is scrambling to shore up reserves by introducing layoffs
and suspending stock dividends. But even those moves may not be enough
to return the veteran tech company to its once-vaunted spot as an
industry leader, especially in the face of heavy competition,
particularly from rival chipmaker Nvidia.
Work
These reviled birds of prey literally save people's lives
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As a young man in the 1990s, walking to school in New Delhi, Anant
Sudarshan would watch the vultures perched along telephone wires,
waiting for the discards of nearby leather tanning factories. So when
the birds started to disappear, he couldn’t help but notice.
Work
Israel's January 6 moment
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The crisis centers on grave allegations of torture: that Israeli
soldiers at the Sde Teiman base in southern Israel had physically and
sexually assaulted Palestinian detainees. On Monday, Israel’s
military police raided the base and detained 10 soldiers believed to
be responsible for the torture of one detainee.
Work
Money Talks: The Black business owners who forged a partnership in
uncertain times
Work
Lloyd Austin reverses plea deals for 9/11 defendants amid backlash
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Defense Secretary Lloyd Austin has taken action to revoke plea
agreements that would have allowed alleged 9/11 mastermind Khalid
Sheikh Mohammed and two of his accomplices to avoid a death penalty
trial.
Work
Josh Shapiro's comments about Palestinians resurface amid VP
speculation
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Harris is the presumptive Democratic presidential nominee after
President Joe Biden ended his campaign last month following pressure
from Democrats concerned about his ability to win in November. Biden
faced calls to step aside following his debate with Donald Trump in
June, which brought concerns about his age and polls showing the
president trailing in key battleground states.
Work
"No Genocide Josh" campaign doubles down as Shapiro VP speculation
grows
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A campaign that hopes to thwart Pennsylvania Governor Josh Shapiro's
chances of being picked as Vice President Kamala Harris' running mate
doubled down on Friday as speculation rises around the next Democratic
vice presidential candidate.
Work
Brad Pitt's company accused of exporting wine to Russia amid lawsuit
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Brad Pitt's wine brand, produced on his Château Miraval estate in the
South of France, is reportedly being sold in Russia while the actor
remains locked in a lawsuit over a billionaire from the country having
a stake in the business.
Work
Will implants that meld minds with machines enhance human abilities? -
New Scientist (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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A cyborg bested me. When I played the online game WebGrid, using my
finger on a laptop trackpad to click on squares appearing
unpredictably on a grid, my speed was 42 squares per minute. When
self-described cyborg Noland Arbaugh played it, he used a chip
embedded in his brain to send telepathic signals to his computer. His
speed? 49.
Work
Time travel sci-fi novel is a rip-roaringly good thought experiment -
New Scientist (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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The Other Valley by Scott Alexander Howard is an unusual and deeply
enjoyable time travel novel. It was published early this year, and
sadly I didn’t review it then for the simple reason that I had no
idea it existed. Fortunately, now that I have had it recommended to me
and have actually read it, I have special permission from my editor at
New Scientist to travel back in time and celebrate its publication.
Work
Are horses in equestrian sports being harmed by bending their necks? -
New Scientist (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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During the Olympic equestrian events of dressage, horses display
dance-like steps that demand high levels of muscular strength and
control across the animals’ bodies and legs. But at the 2024
Olympics in Paris, there has been more focus on the position of the
horses’ heads. On 27 July, Brazilian rider Carlos Parro was issued a
warning for actions during a warm-up session that “could have caused
unnecessary discomfort to the horse”, according to a statement by
the governing body of the sport, the International Federation for
Equestrian Sports (FEI).
Work
Make History With Citizen Science - Discover Magazine (No paywall)
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Citizen science can be a time machine, with projects that transport
you to the past through fragile photographs, ancient artifacts, and
hand-written records. In some cases, these items tell stories, filling
in missing pieces of our history. Sometimes they hold secrets that may
prove to be vital to our future. Why not make some history with this
selection of engrossing, time- tripping projects?
Work
Meteorite Bombardments Formed the Bulk of the Moon's Atmosphere -
Discover Magazine (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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Examining old rocks with new technology reveals the source of the
moon’s atmosphere: Meteorites bombarding the lunar surface over
billions of years have kicked up dust that forms the satellite’s
tenuous atmosphere, according to a report in Science Advances.
Work
Trees Don't Like To Breathe Wildfire Smoke and They'll Hold Their
Breath To Avoid It - Discover Magazine (No paywall)
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When wildfire smoke is in the air, doctors urge people to stay indoors
to avoid breathing in harmful particles and gases. But what happens to
trees and other plants that can’t escape from the smoke?
Work
Hospital-Acquired Infections Are Rising - Here's How To Protect
Yourself - Discover Magazine (No paywall)
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A new study from the National Institutes of Health shows a jump in
both hospital-acquired infections and resistance to the antibiotics
used to treat them. The findings are based on data gathered at 120
U.S. hospitals from January 2018 to December 2022, a five-year period
that included the COVID-19 pandemic. Dr. Nasia Safdar, a professor of
infectious medicine at the University of Wisconsin-Madison, discusses
why infection rates have gone up and how you can protect yourself as a
hospital patient or visiting family member.
Work
Plea deal for accused 9/11 plotters revoked by Pentagon chief Lloyd
Austin
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The US military commission overseeing the cases of five defendants in
the 9/11 attacks have been stuck in pre-trial hearings and other
preliminary court action since 2008. The torture that the defendants
underwent while in CIA custody has slowed the cases and left the
prospect of full trials and verdicts still uncertain, in part because
of the inadmissibility of evidence linked to the torture.
Work
Stock market today: Indexes tank after weak jobs report sparks panic
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"Market moves on Thursday pointed to investor concerns that the US
economy is cooling too quickly and may require further support from
the Fed," Solita Marcelli, the Americas CIO at UBS Global Wealth
Management, said in a note.
Work
Why fear is sweeping markets everywhere - The Economist (No paywall)
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How quickly the mood turns. Barely a fortnight ago stockmarkets were
on a seemingly unstoppable bull run, after months of hitting new
all-time highs. Now they are in free fall. America’s Nasdaq 100
index, dominated by the tech giants that were at the heart of the
boom, has fallen by more than 10% since a peak in mid-July. Japan’s
benchmark Topix index has clocked losses well into the double digits,
dropping by 6% on August 2nd alone—its worst day since 2016 and,
following a 3% decline on August 1st, its worst two-day streak since
2011. Share prices elsewhere have not been bludgeoned quite so badly,
but panic is sweeping through markets (see chart 1). Wall Street’s
“fear gauge”, the VIX index, which measures expected volatility
through the prices traders pay to protect themselves from it, has
rocketed to its highest since America’s regional-banking crisis last
year (see chart 2).
Work
This Company Partnered With Bugs Bunny to Produce Collectible Pins for
the Olympics - Inc.com (No paywall) [[link removed]}&lead=419599&emailid=44266&nl=daily]
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It's a time-honored tradition at the Olympics, explains Mario
Simonson, CEO of Los Angeles-based Honav, which made Team USA's pins
this year. While the events bring people from different countries
together, they might not speak the same language and pin trading
doesn't require speaking. "It's a way of communicating through trading
pins," he says, adding that it can be a bonding experience.
Work
The Insidious Scrutiny of Female Athletes' Bodies
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It has been a phenomenal 2024 Olympics so far for women in sport.
Simone Biles became the most decorated American Olympic gymnast while
Katie Ledecky became the most decorated female swimmer in Olympic
history. The U.S. women’s rugby team won an improbable bronze medal
with a miracle play in the last seconds of the game. We’ve seen a
58-year-old woman, Chile’s Zeng Zhiying, compete in table tennis and
Egypt’s Nada Hafez compete while seven months pregnant in fencing.
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US-Israeli soldier posted videos showing detonation of Gaza homes and
mosque
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“The US government could prosecute these US citizens if they
participate in war crimes,” Oona Hathaway, director of the Center
for Global Legal Challenges at Yale Law School, told the Guardian.
“Politically, however, that’s unlikely, for all the obvious
reasons.”
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'Far-right racists' will not win, Sunderland MP says after riots
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Some of those involved in the disorder wore red and white football
shirts. In a post on X, Sunderland football club condemned the
violence and said the city "will for ever be for all".
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Crunch time in 'veepstakes' as Kamala Harris prepares to choose
running mate
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Kamala Harris effectively clinches Democratic nomination for president
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One of the best decisions I’ve made was picking @KamalaHarris as my
vice president. Now that she will be our party’s nominee, I
couldn’t be prouder.Let’s win this. pic.twitter.com/wD1gqyHyVI
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Prediction: These 3 Stocks Will Soar If Kamala Harris Wins in November
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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary,
is a member of The Motley Fool's board of directors. Keith Speights
has positions in Amazon, Brookfield Renewable, and Brookfield
Renewable Partners. The Motley Fool has positions in and recommends
Amazon, Brookfield Renewable, and Trulieve Cannabis. The Motley Fool
recommends Brookfield Renewable Partners. The Motley Fool has a
disclosure policy.
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